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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues $ 4,248 $ 5,522 $ 8,401 $ 10,507
Cost of sales:        
Production and delivery 2,848 3,082 5,760 5,819
Depreciation, depletion and amortization 890 1,013 1,829 1,979
Impairment of oil and gas properties 2,686 0 5,790 0
Total cost of sales 6,424 4,095 13,379 7,798
Selling, general and administrative expenses 151 164 305 299
Mining exploration and research expenses 36 34 69 64
Environmental obligations and shutdown costs 11 76 24 82
Net gain on sale of assets 0 0 (39) 0
Total costs and expenses 6,622 4,369 13,738 8,243
Operating (loss) income (2,374) 1,153 (5,337) 2,264
Interest expense, net (149) (164) (295) (325)
Insurance and other third-party recoveries 92 0 92 0
Net gain on early extinguishment of debt 0 5 0 5
Other (expense) income, net (55) (8) (48) 25
(Loss) income before income taxes and equity in affiliated companies' net earnings (2,486) 986 (5,588) 1,969
Benefit from (provision for) income taxes 687 (328) 1,382 (685)
Equity in affiliated companies’ net earnings 0 2 1 2
Net (loss) income (1,799) 660 (4,205) 1,286
Net income attributable to noncontrolling interests (42) (168) (100) (274)
Preferred dividends attributable to redeemable noncontrolling interest (10) (10) (20) (20)
Net (loss) income attributable to common stockholders $ (1,851) $ 482 $ (4,325) $ 992
Net (loss) income per share attributable to common stockholders:        
Basic $ (1.78) $ 0.46 $ (4.16) $ 0.95
Diluted $ (1.78) $ 0.46 $ (4.16) $ 0.95
Weighted-average common shares outstanding:        
Basic 1,040 1,039 1,040 1,039
Diluted 1,040 1,045 1,040 1,045
Dividends declared per share of common stock $ 0.1605 $ 0.3125 $ 0.2105 $ 0.625