v3.26.1
Consolidated Condensed Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES AND OTHER INCOME        
Net sales $ 8,065 $ 5,258 $ 13,295 $ 10,962
Interest, dividends and other income 82 48 163 101
Gains (losses) on sales of assets and other, net 180 (5) (22) (24)
Total 8,327 5,301 13,436 11,039
COSTS AND OTHER DEDUCTIONS        
Oil and gas lease operating expense 1,117 1,135 2,235 2,352
Transportation and gathering expense 463 448 884 900
General and administrative expense 262 257 507 498
Other operating and non-operating expense 332 445 688 771
Taxes other than on income 342 269 601 533
Depreciation, depletion and amortization 1,847 1,823 3,641 3,627
Asset impairments and other charges 38 0 158 0
Acquisition-related costs 0 6 0 12
Exploration expense 37 83 147 138
Interest and debt expense, net 108 271 540 581
Total 4,546 4,737 9,401 9,412
Income before income taxes and other items 3,781 564 4,035 1,627
OTHER ITEMS        
Income (loss) from equity investments and other 134 (4) 270 110
Total 134 (4) 270 110
Income before income taxes 3,915 560 4,305 1,737
Income tax expense (915) (222) (1,069) (569)
Income from continuing operations 3,000 338 3,236 1,168
Discontinued operations, net of tax (4) 130 3,119 245
NET INCOME 2,996 468 6,355 1,413
Less: Net income attributable to noncontrolling interest (19) (10) (33) (19)
Less: Preferred stock dividends (170) (170) (340) (340)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 2,807 $ 288 $ 5,982 $ 1,054
PER COMMON SHARE, BASIC        
Income from continuing operations—basic (in dollars per share) $ 2.80 $ 0.14 $ 2.86 $ 0.80
Discontinued operations—basic (in dollars per share) 0 0.13 3.12 0.26
Net income attributable to common stockholders—basic (in dollars per share) 2.80 0.27 5.98 1.06
PER COMMON SHARE, DILUTED        
Income from continuing operations—diluted (in dollars per share) 2.76 0.13 2.82 0.78
Discontinued operations—diluted (in dollars per share) (0.01) 0.13 3.07 0.25
Net income attributable to common stockholders—diluted (in dollars per share) $ 2.75 $ 0.26 $ 5.89 $ 1.03