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Consolidated Condensed Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES AND OTHER INCOME        
Net sales $ 7,173 $ 7,158 $ 19,965 $ 21,085
Interest, dividends and other income 60 50 130 107
Gains (losses) on sales of assets and other, net (79) 192 (52) 197
Total 7,154 7,400 20,043 21,389
COSTS AND OTHER DEDUCTIONS        
Oil and gas operating expense 1,207 1,189 3,547 3,400
Transportation and gathering expense 407 363 1,165 1,122
Chemical and midstream cost of sales 806 682 2,369 2,218
Purchased commodities 83 520 258 1,508
Selling, general and administrative expenses 268 258 786 776
Other operating and non-operating expense 334 328 1,088 646
Taxes other than on income 256 290 756 862
Depreciation, depletion and amortization 1,926 1,712 5,394 5,142
Asset impairments and other charges 21 0 21 209
Acquisition-related costs 49 0 75 0
Exploration expense 57 125 206 329
Interest and debt expense, net 312 230 848 698
Total 5,726 5,697 16,513 16,910
Income before income taxes and other items 1,428 1,703 3,530 4,479
OTHER ITEMS        
Income from equity investments and other 166 106 709 391
Total 166 106 709 391
Income before income taxes 1,594 1,809 4,239 4,870
Income tax expense (454) (434) (1,223) (1,372)
Income from continuing operations 1,140 1,375 3,016 3,498
Discontinued operations, net of taxes 0 0 182 0
NET INCOME 1,140 1,375 3,198 3,498
Less: Net income attributable to noncontrolling interest (7) 0 (15) 0
Less: Preferred stock dividends and redemption premiums (169) (219) (509) (754)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 964 $ 1,156 $ 2,674 $ 2,744
PER COMMON SHARE        
Income from continuing operations—basic (in dollars per share) $ 1.03 $ 1.30 $ 2.75 $ 3.06
Discontinued operations—basic (in dollars per share) 0 0 0.20 0
Net income attributable to common stockholders—basic (in dollars per share) 1.03 1.30 2.95 3.06
PER COMMON SHARE, DILUTED        
Income from continuing operations—diluted (in dollars per share) 0.98 1.20 2.58 2.83
Discontinued operations—diluted (in dollars per share) 0 0 0.19 0
Net income attributable to common stockholders—diluted (in dollars per share) $ 0.98 $ 1.20 $ 2.77 $ 2.83