Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Notes To Financial Statements [Abstract]

Deferred Income Tax Liabilities, Net Table

The principal components of EOG's net deferred income tax liabilities at December 31, 2011 and 2010 were as follows (in thousands):

	2011			2010
Current Deferred Income Tax Assets (Liabilities)
Commodity Hedging Contracts	$	-		$	(7,141	)
Deferred Compensation Plans		-			13,216
Other		-			3,185
Total Net Current Deferred Income Tax Assets	$	-		$	9,260
Noncurrent Deferred Income Tax Assets (Liabilities)
United Kingdom Oil and Gas Exploration and Development Costs Deducted for Tax Over Book Depreciation, Depletion and Amortization	$	(57,850	)	$	(16,611	)
United Kingdom Net Operating Loss		62,477			17,329
United Kingdom Other		314			226
Total Net Noncurrent Deferred Income Tax Assets	$	4,941		$	944
Current Deferred Income Tax (Assets) Liabilities
Commodity Hedging Contracts	$	158,302		$	-
Deferred Compensation Plans		(28,346	)		-
Timing Differences Associated with Different Year-ends in Foreign Jurisdictions		6,251			41,027
Other		(218	)		676
Total Net Current Deferred Income Tax Liabilities	$	135,989		$	41,703
Noncurrent Deferred Income Tax (Assets) Liabilities
Oil and Gas Exploration and Development Costs Deducted for Tax Over Book Depreciation, Depletion and Amortization	$	5,485,435		$	4,373,110
Non-Producing Leasehold Costs		(66,926	)		(78,846	)
Seismic Costs Capitalized for Tax		(111,862	)		(92,901	)
Equity Awards		(120,852	)		(99,447	)
Capitalized Interest		106,265			94,957
Net Operating Loss		(1,152,386	)		(498,893	)
Alternative Minimum Tax Credit Carryforward		(298,350	)		(214,873	)
Other		25,894			18,599
Total Net Noncurrent Deferred Income Tax Liabilities	$	3,867,219		$	3,501,706
Total Net Deferred Income Tax Liabilities	$	3,998,267		$	3,533,205

Components Of Income Before Income Taxes Table

The components of Income Before Income Taxes for the years indicated below were as follows (in thousands):

	2011			2010			2009
United States	$	2,156,147		$	646,495		$	784,248
Foreign		(246,348	)		(238,519	)		87,763
Total	$	1,909,799		$	407,976		$	872,011

Components of Income Tax Provision Table

The principal components of EOG's Income Tax Provision for the years indicated below were as follows (in thousands):

	2011			2010			2009
Current:
Federal	$	94,244		$	17,154		$	95,194
State		1,083			(1,642	)		8,783
Foreign		224,049			155,565			47,015
Total		319,376			171,077			150,992
Deferred:
Federal		608,181			190,602			166,045
State		40,321			60,619			31,580
Foreign		(149,202	)		(174,976	)		(23,233	)
Total		499,300			76,245			174,392
Income Tax Provision	$	818,676		$	247,322		$	325,384

Tax Rate Reconciliation Table

The differences between taxes computed at the United States federal statutory tax rate and EOG's effective rate were as follows:

		2011	2010	2009
Statutory Federal Income Tax Rate		35.00%	35.00%	35.00%
State Income Tax, Net of Federal Benefit		1.41	9.39	3.00
Income Tax Provision Related to Foreign Operations		0.88	(0.03)	(1.40)
Income Tax Provision Related to Trinidad Operations		3.37	6.26	0.60
Canadian Shallow Natural Gas Impairments		1.85	9.49	-
Other		0.36	0.51	0.11
	Effective Income Tax Rate	42.87%	60.62%	37.31%