XML 42 R17.htm IDEA: XBRL DOCUMENT v3.22.4
Impairments
 12 Months Ended
Dec. 31, 2022
Asset Impairment Charges [Abstract]  
Impairments
Note 7—Impairments
During 2022, 2021 and 2020, we recognized the following before-tax impairment charges:
Millions of Dollars
202220212020
Alaska$2 5 — 
Lower 48(11)(8)804 
Canada(2)6 3 
Europe, Middle East and North Africa(1)(24)6 
Asia Pacific— 695 — 
$(12)674 813 
2021
We recorded an impairment of $688 million on our APLNG investment included within the Asia Pacific segment. See Note 4 and Note 13.
In our Lower 48 segment, we recorded a credit to impairment of $89 million due to a decreased ARO estimate for a previously sold asset, in which we retained the ARO liability. This was offset by recorded impairments of $84 million during the fourth quarter of 2021, related to certain noncore assets due to changes in development plans. See Note 13.
In our Europe, Middle East and North Africa segment, we recorded a credit to impairment of $24 million due to decreased ARO estimates on fields in Norway which ceased production and were fully depreciated in prior years.
2020
We recorded impairments of $813 million, primarily related to certain noncore assets in the Lower 48. Due to a significant decrease in the outlook for current and long-term natural gas prices in early 2020, we recorded impairments of $523 million, primarily for the Wind River Basin operations area, consisting of developed properties in the Madden Field and the Lost Cabin Gas Plant, in the first quarter of 2020. Additionally, due primarily to changes in development plans solidified in the last quarter of 2020, we recognized additional impairments of $287 million in the Lower 48 during the fourth quarter.