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Consolidated Condensed Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES AND OTHER INCOME        
Net sales $ 7,158 $ 9,390 $ 21,085 $ 28,415
Interest, dividends and other income 50 37 107 122
Gains on sales of assets, net 192 74 197 232
Total 7,400 9,501 21,389 28,769
COSTS AND OTHER DEDUCTIONS        
Oil and gas operating expense 1,189 1,056 3,400 2,925
Transportation and gathering expense 363 378 1,122 1,089
Chemical and midstream cost of sales 682 835 2,218 2,488
Purchased commodities 520 785 1,508 2,627
Selling, general and administrative expenses 258 247 776 687
Other operating and non-operating expense 328 319 646 909
Taxes other than on income 290 427 862 1,188
Depreciation, depletion and amortization 1,712 1,736 5,142 5,107
Asset impairments and other charges 0 0 209 0
Anadarko acquisition-related costs 0 4 0 82
Exploration expense 125 47 329 98
Interest and debt expense, net 230 285 698 770
Total 5,697 6,119 16,910 17,970
Income before income taxes and other items 1,703 3,382 4,479 10,799
OTHER ITEMS        
Gains on interest rate swaps, net 0 70 0 332
Income from equity investments and other 106 196 391 586
Total 106 266 391 918
Income before income taxes 1,809 3,648 4,870 11,717
Income tax expense (434) (902) (1,372) (340)
NET INCOME 1,375 2,746 3,498 11,377
Less: Preferred stock dividends and redemption premiums (219) (200) (754) (600)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 1,156 $ 2,546 $ 2,744 $ 10,777
PER COMMON SHARE        
Net income attributable to common stockholders—basic (in dollars per share) $ 1.30 $ 2.74 $ 3.06 $ 11.47
Net income attributable to common stockholders—diluted (in dollars per share) $ 1.20 $ 2.52 $ 2.83 $ 10.64