v3.25.2
Consolidated Condensed Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES AND OTHER INCOME        
Net sales $ 6,414 $ 6,817 $ 13,217 $ 12,792
Interest, dividends and other income 44 34 103 70
Gains (losses) on sales of assets and other, net (2) 28 (21) 27
Total 6,456 6,879 13,299 12,889
COSTS AND OTHER DEDUCTIONS        
Oil and gas lease operating expense 1,135 1,179 2,352 2,340
Transportation and gathering expense 409 405 822 758
Chemical and midstream cost of sales 847 910 1,648 1,738
Selling, general and administrative expense 284 259 551 518
Other operating and non-operating expense 497 344 889 754
Taxes other than on income 269 265 533 500
Depreciation, depletion and amortization 1,936 1,775 3,853 3,468
Acquisition-related costs 6 14 12 26
Exploration expense 83 83 138 149
Interest and debt expense, net 276 252 594 536
Total 5,742 5,486 11,392 10,787
Income before income taxes and other items 714 1,393 1,907 2,102
OTHER ITEMS        
Income from equity investments and other 24 242 163 543
Total 24 242 163 543
Income from continuing operations before income taxes 738 1,635 2,070 2,645
Income tax expense (270) (465) (657) (769)
Income from continuing operations 468 1,170 1,413 1,876
Discontinued operations, net of taxes 0 0 0 182
NET INCOME 468 1,170 1,413 2,058
Less: Net income attributable to noncontrolling interest (10) (8) (19) (8)
Less: Preferred stock dividends (170) (170) (340) (340)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 288 $ 992 $ 1,054 $ 1,710
PER COMMON SHARE        
Income from continuing operations—basic (in dollars per share) $ 0.27 $ 1.10 $ 1.06 $ 1.71
Discontinued operations—basic (in dollars per share) 0 0 0 0.20
Net income attributable to common stockholders—basic (in dollars per share) 0.27 1.10 1.06 1.91
PER COMMON SHARE, DILUTED        
Income from continuing operations—diluted (in dollars per share) 0.26 1.03 1.03 1.59
Discontinued operations—diluted (in dollars per share) 0 0 0 0.19
Net income attributable to common stockholders—diluted (in dollars per share) $ 0.26 $ 1.03 $ 1.03 $ 1.78