Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Deferred Income Tax Liabilities, Net Table

The principal components of EOG's net deferred income tax liabilities at December 31, 2014 and 2013 were as follows (in thousands):

	2014			2013
Current Deferred Income Tax Assets (Liabilities)
Commodity Hedging Contracts	$	—		$	29,582
Deferred Compensation Plans	—			42,296
Net Operating Loss	—			96,616
Alternative Minimum Tax Credit Carryforward	—			72,297
Foreign Net Operating Loss	49,865			—
Foreign Valuation Allowance	(30,247		)	—
Other	—			3,815
Total Net Current Deferred Income Tax Assets	$	19,618		$	244,606
Noncurrent Deferred Income Tax Assets (Liabilities)
Foreign Oil and Gas Exploration and Development Costs Deducted for Tax Under Book Depreciation, Depletion and Amortization	$	(141,643	)	$	(112,346	)
Foreign Net Operating Loss	487,876			369,257
Foreign Valuation Allowances	(349,704		)	(183,122		)
Foreign Other	4,096			4,179
Total Net Noncurrent Deferred Income Tax Assets	$	625		$	77,968
Current Deferred Income Tax (Asset) Liabilities
Commodity Hedging Contracts	$	166,109		$	—
Deferred Compensation Plans	(48,207		)	—
Accrued Expenses and Liabilities	(5,643		)	—
Other	(1,516		)	—
Total Net Current Deferred Income Tax Liabilities	$	110,743		$	—
Noncurrent Deferred Income Tax (Assets) Liabilities
Oil and Gas Exploration and Development Costs Deducted for Tax Over Book Depreciation, Depletion and Amortization	$	7,634,297		$	6,287,541
Non-Producing Leasehold Costs	(44,236		)	(50,581		)
Seismic Costs Capitalized for Tax	(158,157		)	(136,964		)
Equity Awards	(127,541		)	(122,665		)
Capitalized Interest	97,739			101,006
Alternative Minimum Tax Credit Carryforward	(793,126		)	(557,352		)
Undistributed Foreign Earnings	249,861			—
Other	(35,891		)	1,369
Total Net Noncurrent Deferred Income Tax Liabilities	$	6,822,946		$	5,522,354
Total Net Deferred Income Tax Liabilities	$	6,913,446		$	5,199,780

Components of Income Before Income Taxes

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

	2014			2013		2012
United States	$	5,161,232		$	3,268,727	$	1,988,105
Foreign	(165,917		)	168,159		(707,365		)
Total	$	4,995,315		$	3,436,886	$	1,280,740

Components of Income Tax Provision

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

	2014		2013			2012
Current:
Federal	$	269,326	$	207,777		$	242,674
State	22,835		22,856			22,573
Foreign	82,721		134,379			152,276
Total	374,882		365,012			417,523
Deferred:
Federal	1,608,706		915,994			454,173
State	29,056		26,305			632
Foreign	67,184		(67,534		)	(161,867		)
Total	1,704,946		874,765			292,938
Income Tax Provision	$	2,079,828	$	1,239,777		$	710,461

Tax Rate Reconciliation

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

	2014		2013		2012
Statutory Federal Income Tax Rate	35.00	%	35.00	%	35.00	%
State Income Tax, Net of Federal Benefit	0.68		0.93		1.18
Income Tax Provision Related to Foreign Operations	(0.12	)	0.23		1.11
Canadian Divestiture	(3.46	)	—		—
Undistributed Foreign Earnings	4.94		—		—
Foreign Valuation Allowances	6.47		—		10.57
Foreign Oil and Gas Impairments	(1.90	)	—		6.90
Other	0.03		(0.09	)	0.71
Effective Income Tax Rate	41.64	%	36.07	%	55.47	%