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CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Treasury Shares
Paid-In Capital
Accumulated Other Comprehensive Income
Retained Earnings
Beginning balance (in shares) at Dec. 31, 2022   768        
Beginning balance (in shares) at Dec. 31, 2022     0      
Balance at beginning of period at Dec. 31, 2022 $ 12,659 $ 77 $ 0 $ 7,933 $ 13 $ 4,636
Increase (Decrease) in Stockholders' Equity            
Net income 677         677
Stock amortization and vesting 13     13    
Conversion of Cimarex redeemable preferred stock 3     3    
Common stock repurchases (in shares)     11      
Common stock repurchases (271)   $ (271)      
Common stock retirements (in shares)   (11) (11)      
Common stock retirements 0 $ (1) $ (271) (270)    
Cash dividends on common stock (438)         (438)
Ending balance (in shares) at Mar. 31, 2023   757        
Ending balance (in shares) at Mar. 31, 2023     0      
Balance at end of period at Mar. 31, 2023 12,643 $ 76 $ 0 7,679 13 4,875
Beginning balance (in shares) at Dec. 31, 2022   768        
Beginning balance (in shares) at Dec. 31, 2022     0      
Balance at beginning of period at Dec. 31, 2022 12,659 $ 77 $ 0 7,933 13 4,636
Increase (Decrease) in Stockholders' Equity            
Net income 886          
Ending balance (in shares) at Jun. 30, 2023   755        
Ending balance (in shares) at Jun. 30, 2023     0      
Balance at end of period at Jun. 30, 2023 12,659 $ 76 $ 0 7,639 13 4,931
Beginning balance (in shares) at Mar. 31, 2023   757        
Beginning balance (in shares) at Mar. 31, 2023     0      
Balance at beginning of period at Mar. 31, 2023 12,643 $ 76 $ 0 7,679 13 4,875
Increase (Decrease) in Stockholders' Equity            
Net income 209         209
Stock amortization and vesting 17     17    
Common stock repurchases (in shares)     2      
Common stock repurchases (57)   $ (57)      
Common stock retirements (in shares)   (2) (2)      
Common stock retirements 0 $ 0 $ (57) (57)    
Cash dividends on common stock (153)         (153)
Ending balance (in shares) at Jun. 30, 2023   755        
Ending balance (in shares) at Jun. 30, 2023     0      
Balance at end of period at Jun. 30, 2023 12,659 $ 76 $ 0 7,639 13 4,931
Beginning balance (in shares) at Dec. 31, 2023   751        
Beginning balance (in shares) at Dec. 31, 2023     0      
Balance at beginning of period at Dec. 31, 2023 13,039 $ 75 $ 0 7,587 11 5,366
Increase (Decrease) in Stockholders' Equity            
Net income 352         352
Stock amortization and vesting 15     15    
Common stock repurchases (in shares)     6      
Common stock repurchases (157)   $ (157)      
Common stock retirements (in shares)   (6) (6)      
Common stock retirements 0 $ 0 $ (157) (157)    
Cash dividends on common stock (160)         (160)
Ending balance (in shares) at Mar. 31, 2024   745        
Ending balance (in shares) at Mar. 31, 2024     0      
Balance at end of period at Mar. 31, 2024 13,089 $ 75 $ 0 7,445 11 5,558
Beginning balance (in shares) at Dec. 31, 2023   751        
Beginning balance (in shares) at Dec. 31, 2023     0      
Balance at beginning of period at Dec. 31, 2023 13,039 $ 75 $ 0 7,587 11 5,366
Increase (Decrease) in Stockholders' Equity            
Net income 572          
Ending balance (in shares) at Jun. 30, 2024   740        
Ending balance (in shares) at Jun. 30, 2024     0      
Balance at end of period at Jun. 30, 2024 13,029 $ 74 $ 0 7,324 11 5,620
Beginning balance (in shares) at Mar. 31, 2024   745        
Beginning balance (in shares) at Mar. 31, 2024     0      
Balance at beginning of period at Mar. 31, 2024 13,089 $ 75 $ 0 7,445 11 5,558
Increase (Decrease) in Stockholders' Equity            
Net income 220         220
Exercise of stock options 1     1    
Stock amortization and vesting 16     16    
Common stock repurchases (in shares)     5      
Common stock repurchases (139)   $ (139)      
Common stock retirements (in shares)   (5) (5)      
Common stock retirements 0 $ (1) $ (139) (138)    
Cash dividends on common stock (158)         (158)
Ending balance (in shares) at Jun. 30, 2024   740        
Ending balance (in shares) at Jun. 30, 2024     0      
Balance at end of period at Jun. 30, 2024 $ 13,029 $ 74 $ 0 $ 7,324 $ 11 $ 5,620