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Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUES AND OTHER INCOME      
Net sales $ 28,257 $ 36,634 $ 25,956
Interest, dividends and other income 139 153 166
Gains on sales of assets and other, net 522 308 192
Total 28,918 37,095 26,314
COSTS AND OTHER DEDUCTIONS      
Oil and gas lease operating expense 4,677 4,028 3,160
Transportation and gathering expense 1,481 1,475 1,419
Chemical and midstream cost of sales 3,116 3,273 2,772
Purchased commodities 2,009 3,287 2,308
Selling, general and administrative 1,083 945 863
Other operating and non-operating expense 1,084 1,271 1,065
Taxes other than on income 1,087 1,548 1,005
Depreciation, depletion and amortization 6,865 6,926 8,447
Asset impairments and other charges 209 0 304
Acquisition-related costs 26 89 153
Exploration expense 441 216 252
Interest and debt expense, net 945 1,030 1,614
Total 23,023 24,088 23,362
Income before income taxes and other items 5,895 13,007 2,952
OTHER ITEMS      
Gains on interest rate swaps, net 0 317 122
Income from equity investments and other 534 793 631
Total 534 1,110 753
Income from continuing operations before income taxes 6,429 14,117 3,705
Income tax expense (1,733) (813) (915)
Income from continuing operations 4,696 13,304 2,790
Loss from discontinued operations, net of tax 0 0 (468)
NET INCOME 4,696 13,304 2,322
Less: Preferred stock dividends and redemption premiums (923) (800) (800)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 3,773 $ 12,504 $ 1,522
PER COMMON SHARE      
Income from continuing operations—basic (in dollars per share) $ 4.22 $ 13.41 $ 2.12
Loss from discontinued operations—basic (in dollars per share) 0 0 (0.50)
Net income attributable to common stockholders—basic (in dollars per share) 4.22 13.41 1.62
PER COMMON SHARE, DILUTED      
Income from continuing operations—diluted (in dollars per share) 3.90 12.40 2.06
Loss from discontinued operations—diluted (in dollars per share) 0 0 (0.48)
Net income attributable to common stockholders—diluted (in dollars per share) $ 3.90 $ 12.40 $ 1.58