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Consolidated Condensed Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUES AND OTHER INCOME        
Net sales $ 6,702 $ 10,676 $ 13,927 $ 19,025
Interest, dividends and other income 28 36 57 85
Gains on sales of assets, net 1 23 5 158
Total 6,731 10,735 13,989 19,268
COSTS AND OTHER DEDUCTIONS        
Oil and gas operating expense 1,130 1,005 2,211 1,869
Transportation and gathering expense 375 364 759 711
Chemical and midstream cost of sales 791 835 1,536 1,653
Purchased commodities 490 1,031 988 1,842
Selling, general and administrative expenses 277 244 518 440
Other operating and non-operating expense 10 291 318 590
Taxes other than on income 266 426 572 761
Depreciation, depletion and amortization 1,709 1,728 3,430 3,371
Asset impairments and other charges 209 0 209 0
Anadarko acquisition-related costs 0 13 0 78
Exploration expense 102 26 204 51
Interest and debt expense, net 230 114 468 485
Total 5,589 6,077 11,213 11,851
Income before income taxes and other items 1,142 4,658 2,776 7,417
OTHER ITEMS        
Gains on interest rate swaps, net 0 127 0 262
Income from equity investments and other 185 201 285 390
Total 185 328 285 652
Income before income taxes 1,327 4,986 3,061 8,069
Income tax benefit (expense) (467) (1,231) (938) 562
NET INCOME 860 3,755 2,123 8,631
Less: Preferred stock dividends and redemption premiums (255) (200) (535) (400)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 605 $ 3,555 $ 1,588 $ 8,231
PER COMMON SHARE        
Net income attributable to common stockholders—basic (in dollars per share) $ 0.68 $ 3.76 $ 1.76 $ 8.71
Net income attributable to common stockholders per share—diluted (in dollars per share) $ 0.63 $ 3.47 $ 1.63 $ 8.11