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Non-Mineral Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease, Assets And Liabilities [Table Text Block]

		Millions of Dollars
		Carrying Amount
		Operating Leases		Finance Leases
Amounts recognized in line items in our Consolidated
Balance Sheet upon adoption of ASC Topic 842
Right-of-Use Assets
Properties, plants and equipment
Gross			$	1,044
Accumulated depreciation, depletion and amortization				(550)
Net properties, plants and equipment as of December 31, 2018			$	494
Adoption of ASC Topic 842 as of January 1, 2019	$	998
Lease Liabilities
Short-term debt			$	79
Long-term debt				698
Total finance leases debt as of December 31, 2018			$	777
Adoption of ASC Topic 842 as of January 1, 2019	$	998
Amounts recognized in line items in our Consolidated
Balance Sheet at June 30, 2019
Right-of-Use Assets
Properties, plants and equipment
Gross			$	1,044
Accumulated depreciation, depletion and amortization				(608)
Net properties, plants and equipment*			$	436
Other assets	$	1,047

*Includes proportionately consolidated finance lease assets (net of accumulated depreciation, depletion and amortization) of $376 million.

		Millions of Dollars
		Carrying Amount
		Operating Leases		Finance Leases
Lease Liabilities
Short-term debt*			$	80
Other accruals	$	351
Long-term debt*				661
Other liabilities and deferred credits		693
Total lease liabilities	$	1,044		741

*Short-term debt and long-term debt include proportionately consolidated finance lease liabilities of $55 million and $609 million, respectively.

Lease, Cost [Table Text Block]

The following table summarizes our lease costs:
	Millions of Dollars
	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Lease Cost*
Operating lease cost	$	91		166
Finance lease cost
Amortization of right-of-use assets		29		58
Interest on lease liabilities		9		19
Short-term lease cost**		16		30
Total lease cost***	$	145		273

*The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers.

**Short-term leases are not recorded on our consolidated balance sheet. Our future short-term lease commitments amount to $77 million, of

which $65 million is related to leases whose terms have not yet commenced as of June 30, 2019.

***Variable lease cost and sublease income are immaterial for the periods presented and therefore are not included in the table above.

The following table summarizes the lease term and discount rate at June 30, 2019:
			June 30, 2019
Lease Term and Discount Rate
Weighted-average term (years)
Operating leases			5.56
Finance leases			9.21
Weighted-average discount rate (percent)
Operating leases			3.38
Finance leases			5.77
The following table summarizes other lease information for the six-month period ended June 30, 2019:
			Millions of Dollars
			Six Months Ended
Other Information*			June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		$	101
Operating cash flows from finance leases			20
Financing cash flows from finance leases			37
Right-of-use assets obtained in exchange for operating lease liabilities		$	228
Right-of-use assets obtained in exchange for finance lease liabilities			-
*The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers. In addition, pursuant to other applicable accounting guidance, lease payments made in connection with preparing another asset for its intended use are reported in the "Cash Flows From Investing Activities" section of our consolidated statement of cash flows.

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table summarizes future lease payments for operating and finance leases at June 30, 2019:
		Millions of Dollars
		Operating Leases		Finance Leases
Maturity of Lease Liabilities
2019	$	206		58
2020		327		115
2021		207		100
2022		121		98
2023		67		84
Remaining years		221		461
Total*		1,149		916
Less: portion representing imputed interest		(105)		(175)
Total lease liabilities	$	1,044		741
*Future lease payments for operating and finance leases commencing on or after January 1, 2019, also include payments related to non-lease components in accordance with our election to adopt the optional practical expedient not to separate lease components apart from non-lease components for accounting purposes. In addition, future payments related to operating and finance leases proportionately consolidated by the company have been included in the table on a proportionate basis consistent with our respective ownership interest in the underlying investee company or oil and gas venture.

Finance Lease, Liability, Maturity [Table Text Block]

The following table summarizes future lease payments for operating and finance leases at June 30, 2019:
		Millions of Dollars
		Operating Leases		Finance Leases
Maturity of Lease Liabilities
2019	$	206		58
2020		327		115
2021		207		100
2022		121		98
2023		67		84
Remaining years		221		461
Total*		1,149		916
Less: portion representing imputed interest		(105)		(175)
Total lease liabilities	$	1,044		741
*Future lease payments for operating and finance leases commencing on or after January 1, 2019, also include payments related to non-lease components in accordance with our election to adopt the optional practical expedient not to separate lease components apart from non-lease components for accounting purposes. In addition, future payments related to operating and finance leases proportionately consolidated by the company have been included in the table on a proportionate basis consistent with our respective ownership interest in the underlying investee company or oil and gas venture.

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

At December 31, 2018, future undiscounted minimum rental payments due under noncancelable operating
leases pursuant to ASC Topic 840 were:
				Millions of Dollars
2019			$	248
2020				425
2021				136
2022				319
2023				54
Remaining years				212
Total				1,394
Less: income from subleases				(7)
Net minimum operating lease payments			$	1,387

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

At December 31, 2018, future minimum payments due under finance (capital) leases pursuant to
ASC Topic 840 were:
				Millions of Dollars
2019			$	118
2020				116
2021				100
2022				98
2023				87
Remaining years				453
Total				972
Less: portion representing imputed interest				(195)
Capital lease obligations			$	777

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Tabular information about lessee's leases not dislosed elsewhere, including but not limited to lease amounts on consolidated balance sheet.

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Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

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-Section 50
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Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value.

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Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

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