v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenues $ 7,029 $ 7,582 $ 13,263 $ 13,310
Cost of sales:        
Production and delivery 4,320 4,282 8,385 8,038
Depreciation, depletion and amortization 523 668 1,037 1,134
Total cost of sales 4,843 4,950 9,422 9,172
Selling, general and administrative expenses 135 127 297 281
Exploration and research expenses 53 46 91 85
Environmental obligations and shutdown costs 13 27 30 37
Gain on PTFI mud rush incident insurance settlement 0 0 (699) 0
Gain on sale of assets (18) 0 (18) 0
Total costs and expenses 5,026 5,150 9,123 9,575
Operating income 2,003 2,432 4,140 3,735
Interest expense, net (95) (82) (209) (152)
Other income, net 22 41 33 99
Income before income taxes and equity in affiliated companies’ net earnings 1,930 2,391 3,964 3,682
Provision for income taxes (544) (850) (1,197) (1,350)
Equity in affiliated companies’ net earnings 5 6 11 8
Net income 1,391 1,547 2,778 2,340
Net income (loss) attributable to noncontrolling interests 407 775 913 1,216
Net income attributable to common stockholders $ 984 $ 772 $ 1,865 $ 1,124
Net income per share attributable to common stockholders:        
Earnings per share, basic (in dollars per share) $ 0.68 $ 0.53 $ 1.29 $ 0.78
Earnings per share, diluted (in dollars per share) $ 0.68 $ 0.53 $ 1.29 $ 0.77
Weighted-average shares of common stock outstanding:        
Basic weighted-average shares of common stock outstanding 1,438 1,437 1,439 1,438
Diluted weighted-average shares of common shares outstanding 1,443 1,443 1,444 1,444
Dividends declared per share of common stock (in dollars per share) $ 0.15 $ 0.15 $ 0.30 $ 0.30