Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Weighted-Average Shares Outstanding

The following is a calculation of basic and diluted net earnings per common share under the two-class method:

	Year Ended December 31,
(In millions except per share amounts)	2023		2022		2021
Income (Numerator)
Net income	$	1,625	$	4,065	$	1,158
Less: dividends attributable to participating securities	(5)		(7)		(2)
Less: Cimarex redeemable preferred stock dividends	—		(1)		(1)
Net income available to common stockholders	$	1,620	$	4,057	$	1,155
Shares (Denominator)
Weighted average shares - Basic	756		796		503
Dilution effect of stock awards at end of period	4		3		1
Weighted average shares - Diluted	760		799		504
Earnings per share:
Basic	$	2.14	$	5.09	$	2.30
Diluted	$	2.13	$	5.08	$	2.29

Calculation of Weighted-Average Shares Excluded from Diluted EPS Due to Anti-Dilutive Effect

The following is a calculation of weighted-average shares excluded from diluted EPS due to the anti-dilutive effect:

	Year Ended December 31,
(In millions)	2023	2022	2021
Weighted-average stock awards excluded from diluted EPS due to the anti-dilutive effect calculated using the treasury stock method	1	1	1