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Other Financial Information
 12 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Financial Information
Other Financial Information
Earnings in 2020 included after-tax gains of approximately $765 relating to the sale of certain properties. Of this amount, approximately $30 and $735 related to downstream and upstream, respectively. Earnings in 2019 included after-tax gains of approximately $1,500 relating to the sale of certain properties, of which approximately $50 and $1,450 related to downstream and upstream assets, respectively. Earnings in 2018 included after-tax gains of approximately $630 relating to the sale of certain properties, of which approximately $365 and $265 related to downstream and upstream assets, respectively. Earnings in 2020 included after-tax charges of approximately $4,800 for impairments and other asset write-offs related to upstream. Earnings in 2019 included after-tax charges of approximately $10,400 for impairments and other asset write-offs related to upstream. Earnings in 2018 included after-tax charges of approximately $2,000 for impairments and other asset write-offs related to upstream.
Other financial information is as follows:
Year ended December 31
202020192018
Total financing interest and debt costs$735 $817 $921 
Less: Capitalized interest38 19 173 
Interest and debt expense$697 $798 $748 
Research and development expenses$435 $500 $453 
Excess of replacement cost over the carrying value of inventories (LIFO method)
$2,749 $4,513 $5,134 
LIFO profits (losses) on inventory drawdowns included in earnings$(147)$(9)$26 
Foreign currency effects*
$(645)$(304)$611 
* Includes $(152), $(28) and $416 in 2020, 2019 and 2018, respectively, for the company’s share of equity affiliates’ foreign currency effects.
The company has $4,402 in goodwill on the Consolidated Balance Sheet, all of which is in the upstream segment and primarily related to the 2005 acquisition of Unocal. The company tested this goodwill for impairment during 2020, and no impairment was required.