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Consolidated Condensed Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES AND OTHER INCOME        
Net sales $ 6,817 $ 6,702 $ 12,792 $ 13,927
Interest, dividends and other income 34 28 70 57
Gains on sales of assets and other, net 28 1 27 5
Total 6,879 6,731 12,889 13,989
COSTS AND OTHER DEDUCTIONS        
Oil and gas operating expense 1,179 1,130 2,340 2,211
Transportation and gathering expense 405 375 758 759
Chemical and midstream cost of sales 821 791 1,563 1,536
Purchased commodities 89 490 175 988
Selling, general and administrative expenses 259 277 518 518
Other operating and non-operating expense 344 10 754 318
Taxes other than on income 265 266 500 572
Depreciation, depletion and amortization 1,775 1,709 3,468 3,430
Asset impairments and other charges 0 209 0 209
Acquisition-related costs 14 0 26 0
Exploration expense 83 102 149 204
Interest and debt expense, net 252 230 536 468
Total 5,486 5,589 10,787 11,213
Income before income taxes and other items 1,393 1,142 2,102 2,776
OTHER ITEMS        
Income from equity investments and other 242 185 543 285
Total 242 185 543 285
Income before income taxes 1,635 1,327 2,645 3,061
Income tax expense (465) (467) (769) (938)
Income from continuing operations 1,170 860 1,876 2,123
Discontinued operations, net of taxes 0 0 182 0
NET INCOME 1,170 860 2,058 2,123
Less: Net income attributable to noncontrolling interest (8) 0 (8) 0
Less: Preferred stock dividends and redemption premiums (170) (255) (340) (535)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 992 $ 605 $ 1,710 $ 1,588
PER COMMON SHARE        
Income from continuing operations—basic (in dollars per share) $ 1.10 $ 0.68 $ 1.71 $ 1.76
Discontinued operations—basic (in dollars per share) 0 0 0.20 0
Net income attributable to common stockholders—basic (in dollars per share) 1.10 0.68 1.91 1.76
PER COMMON SHARE, DILUTED        
Income from continuing operations—diluted (in dollars per share) 1.03 0.63 1.59 1.63
Discontinued operations—diluted (in dollars per share) 0 0 0.19 0
Net income attributable to common stockholders—diluted (in dollars per share) $ 1.03 $ 0.63 $ 1.78 $ 1.63