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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues $ 3,877 $ 3,382 $ 10,453 $ 11,091
Cost of sales:        
Production and delivery 2,509 2,595 7,957 7,862
Depreciation, depletion and amortization 643 823 1,937 2,522
Impairment of oil and gas properties 239 3,652 4,317 9,442
Metals inventory adjustments 20 91 27 154
Total cost of sales 3,411 7,161 14,238 19,980
Selling, general and administrative expenses 110 122 408 421
Mining exploration and research expenses 13 26 46 83
Environmental obligations and shutdown (credits) costs (3) 37 18 61
Net gain on sales of assets (13) 0 (762) (39)
Total costs and expenses 3,518 7,346 13,948 20,506
Operating income (loss) 359 (3,964) (3,495) (9,415)
Interest expense, net (187) (157) (574) (438)
Net gain on early extinguishment of debt 15 0 51 0
Other (expense) income, net (10) (41) 54 2
Income (loss) before income taxes and equity in affiliated companies' net earnings (losses) 177 (4,162) (3,964) (9,851)
Benefit from (provision for) income taxes 114 349 (79) 1,762
Equity in affiliated companies’ net earnings (losses) 1 (2) 9 (1)
Net income (loss) from continuing operations 292 (3,815) (4,034) (8,090)
Net (loss) income from discontinued operations (6) 25 (191) 95
Net income (loss) 286 (3,790) (4,225) (7,995)
Net income attributable to noncontrolling interests:        
Continuing operations (37) (13) (146) (61)
Discontinued operations (22) (16) (44) (68)
Preferred dividends attributable to redeemable noncontrolling interest (10) (11) (31) (31)
Net income (loss) attributable to common stockholders $ 217 $ (3,830) $ (4,446) $ (8,155)
Basic and diluted net income (loss) per share attributable to common stockholders:        
Continuing operations $ 0.18 $ (3.59) $ (3.27) $ (7.80)
Discontinued operations (0.02) 0.01 (0.18) 0.03
Basic and diluted net income (loss) per share attributable to common stockholders: $ 0.16 $ (3.58) $ (3.45) $ (7.77)
Basic 1,346 1,071 1,289 1,050
Diluted 1,351 1,071 1,289 1,050
Dividends declared per share of common stock $ 0 $ 0.05 $ 0 $ 0.2605