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Other Financial Information
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Financial Information
Other Financial Information
Earnings in 2021 included after-tax gains of approximately $785 relating to the sale of certain properties. Of this amount, approximately $30 and $755 related to downstream and upstream, respectively. Earnings in 2020 included after-tax gains of approximately $765 relating to the sale of certain properties, of which approximately $30 and $735 related to downstream and upstream assets, 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 2021 included after-tax charges of approximately $519 for pension settlement costs, $260 for early retirement of debt, $120 relating to upstream remediation and $110 relating to downstream legal reserves. 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.
Other financial information is as follows:
Year ended December 31
202120202019
Total financing interest and debt costs$775 $735 $817 
Less: Capitalized interest63 38 19 
Interest and debt expense$712 $697 $798 
Research and development expenses$268 $435 $500 
Excess of replacement cost over the carrying value of inventories (LIFO method)
$5,588 $2,749 $4,513 
LIFO profits (losses) on inventory drawdowns included in earnings$35 $(147)$(9)
Foreign currency effects*
$306 $(645)$(304)
* Includes $180, $(152) and $(28) in 2021, 2020 and 2019, respectively, for the company’s share of equity affiliates’ foreign currency effects.
The company has $4,385 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 2021, and no impairment was required.