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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES AND OTHER INCOME        
Net sales $ 10,676 $ 5,958 $ 19,025 $ 11,251
Interest, dividends and other income 36 49 85 124
Gains on sales of assets and equity investments, net 23 3 158 114
Total 10,735 6,010 19,268 11,489
COSTS AND OTHER DEDUCTIONS        
Oil and gas operating expense 1,005 712 1,869 1,488
Transportation and gathering expense 364 364 711 693
Chemical and midstream cost of sales 835 676 1,653 1,270
Purchased commodities 1,031 487 1,842 1,045
Selling, general and administrative expenses 244 177 440 343
Other operating and non-operating expense 291 248 590 506
Taxes other than on income 426 244 761 454
Depreciation, depletion and amortization 1,728 2,371 3,371 4,565
Asset impairments and other charges 0 21 0 156
Anadarko acquisition-related costs 13 52 78 93
Exploration expense 26 86 51 114
Interest and debt expense, net 114 385 485 780
Total 6,077 5,823 11,851 11,507
Income (loss) before income taxes and other items 4,658 187 7,417 (18)
OTHER ITEMS        
Gains (losses) on interest rate swaps, net 127 (223) 262 176
Income from equity investments 201 179 390 300
Total 328 (44) 652 476
Income from continuing operations before income taxes 4,986 143 8,069 458
Income tax benefit (expense) (1,231) (43) 562 (59)
Income from continuing operations 3,755 100 8,631 399
Income (loss) from discontinued operations, net of tax 0 3 0 (442)
NET INCOME (LOSS) 3,755 103 8,631 (43)
Less: Preferred stock dividends (200) (200) (400) (400)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 3,555 $ (97) $ 8,231 $ (443)
PER COMMON SHARE        
Income (loss) from continuing operations—basic (in usd per share) $ 3.76 $ (0.11) $ 8.71 $ 0
Income (loss) from discontinued operations—basic (in usd per share) 0 0.01 0 (0.47)
Net income (loss) attributable to common stockholders—basic (in usd per share) 3.76 (0.10) 8.71 (0.47)
PER COMMON SHARE, DILUTED        
Income (loss) from continuing operations—diluted (in usd per share) 3.47 (0.11) 8.11 0
Income (loss) from discontinued operations—diluted (in usd per share) 0 0.01 0 (0.47)
Net income (loss) attributable to common stockholders—diluted (in usd per share) $ 3.47 $ (0.10) $ 8.11 $ (0.47)