v2.4.0.6
Impairments (Tables)
 12 Months Ended
Dec. 31, 2011
Impairment Charges by Segment Before Tax

During 2011, 2010 and 2009, we recognized the following before-tax impairment charges:

 

     Millions of Dollars  
     2011     2010      2009  

Alaska

    $ 2        6         —     

Lower 48 and Latin America

      71        19         56   

Canada

      253        13         296   

Europe

      (37 )      43         104   

Asia Pacific and Middle East

      —          —           12   

Corporate

      32        —           1   
  

 

 

    

 

 

     

 

 

  
   $ 321        81         469   
  

 

 

    

 

 

     

 

 

  
Fair Value of Impaired Assets and Associated Loss

The following table shows the values of assets, by major category, measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition:

 

     Millions of Dollars  
            Fair Value
Measurements Using		            Before-Tax
Loss Included
in
Discontinued
Operations		  
     Fair Value*      Level 1
Inputs		      Level 3
Inputs		      Before-Tax
Loss		    

Year ended December 31, 2011

              

Net PP&E (held for use)

    $ 162            162         265        1   

Equity method investments

      274         —           274         399        4   

Cost method investments

      2         2         —           8        —     

Year ended December 31, 2010

              

Net PP&E (held for use)

    $ 307         —           307         1,604 **      1,508   

Net PP&E (held for sale)

      23         5         18         43        43   

Equity method investments

      735         —           735         645        —     

 

* Represents the fair value at the time of the impairment.
** Includes a $55 million leasehold impairment charged to exploration expenses.