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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES AND OTHER INCOME        
Net sales $ 9,390 $ 6,792 $ 28,415 $ 18,043
Interest, dividends and other income 37 18 122 142
Gains on sales of assets and equity investments, net 74 5 232 119
Total 9,501 6,815 28,769 18,304
COSTS AND OTHER DEDUCTIONS        
Oil and gas operating expense 1,056 829 2,925 2,317
Transportation and gathering expense 378 360 1,089 1,053
Chemical and midstream cost of sales 835 731 2,488 2,001
Purchased commodities 785 588 2,627 1,633
Selling, general and administrative expenses 247 240 687 583
Other operating and non-operating expense 319 256 909 762
Taxes other than on income 427 289 1,188 743
Depreciation, depletion and amortization 1,736 1,916 5,107 6,481
Asset impairments and other charges 0 17 0 173
Anadarko acquisition-related costs 4 29 82 122
Exploration expense 47 31 98 145
Interest and debt expense, net 285 449 770 1,229
Total 6,119 5,735 17,970 17,242
Income before income taxes and other items 3,382 1,080 10,799 1,062
OTHER ITEMS        
Gains (losses) on interest rate swaps, net 70 (26) 332 150
Income from equity investments 196 163 586 463
Total 266 137 918 613
Income from continuing operations before income taxes 3,648 1,217 11,717 1,675
Income tax expense (902) (387) (340) (446)
Income from continuing operations 2,746 830 11,377 1,229
Loss from discontinued operations, net of tax 0 (2) 0 (444)
NET INCOME 2,746 828 11,377 785
Less: Preferred stock dividends (200) (200) (600) (600)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 2,546 $ 628 $ 10,777 $ 185
PER COMMON SHARE        
Income from continuing operations—basic (in usd per share) $ 2.74 $ 0.67 $ 11.47 $ 0.67
Loss from discontinued operations—basic (in usd per share) 0 0 0 (0.47)
Net income attributable to common stockholders—basic (in usd per share) 2.74 0.67 11.47 0.20
PER COMMON SHARE, DILUTED        
Income from continuing operations—diluted (in usd per share) 2.52 0.65 10.64 0.65
Loss from discontinued operations—diluted (in usd per share) 0 0 0 (0.46)
Net income attributable to common stockholders—diluted (in usd per share) $ 2.52 $ 0.65 $ 10.64 $ 0.19