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Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUES AND OTHER INCOME      
Net sales $ 26,725 $ 28,257 $ 36,634
Interest, dividends and other income 171 139 153
Gains (losses) on sales of assets and other, net (16) 522 308
Total 26,880 28,918 37,095
COSTS AND OTHER DEDUCTIONS      
Oil and gas lease operating expense 4,738 4,677 4,028
Transportation and gathering expense 1,608 1,481 1,475
Chemical and midstream cost of sales 3,121 3,116 3,273
Purchased commodities 337 2,009 3,287
Selling, general and administrative expense 1,062 1,083 945
Other operating and non-operating expense 1,581 1,084 1,271
Taxes other than on income 1,039 1,087 1,548
Depreciation, depletion and amortization 7,371 6,865 6,926
Asset impairments and other charges 1,281 209 0
Acquisition-related costs 84 26 89
Exploration expense 275 441 216
Interest and debt expense, net 1,175 945 1,030
Total 23,672 23,023 24,088
Income before income taxes and other items 3,208 5,895 13,007
OTHER ITEMS      
Gains on interest rate swaps, net 0 0 317
Income from equity investments and other 862 534 793
Total 862 534 1,110
Income from continuing operations before income taxes 4,070 6,429 14,117
Income tax expense (1,174) (1,733) (813)
Income from continuing operations 2,896 4,696 13,304
Income from discontinued operations, net of tax 182 0 0
NET INCOME 3,078 4,696 13,304
Less: Net income attributable to noncontrolling interest (22) 0 0
Less: Preferred stock dividends and redemption premiums (679) (923) (800)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 2,377 $ 3,773 $ 12,504
PER COMMON SHARE      
Income from continuing operations—basic (in dollars per share) $ 2.39 $ 4.22 $ 13.41
Discontinued operations—basic (in dollars per share) 0.20 0 0
Net income attributable to common stockholders—basic (in dollars per share) 2.59 4.22 13.41
PER COMMON SHARE, DILUTED      
Income from continuing operations—diluted (in dollars per share) 2.26 3.90 12.40
Discontinued operations—diluted (in dollars per share) 0.18 0 0
Net income attributable to common stockholders—diluted (in dollars per share) $ 2.44 $ 3.90 $ 12.40