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Impairments

12 Months Ended

Dec. 31, 2023

Asset Impairment Charges [Abstract]

Impairments

Note 7—Impairments

During 2023, 2022 and 2021, we recognized the following before-tax impairment charges:

			Millions of Dollars
			2023			2022			2021
Alaska			$	—		2			5
Lower 48			7			(11)			(8)
Canada			6			(2)			6
Europe, Middle East and North Africa			—			(1)			(24)
Asia Pacific			—			—			695
Corporate and Other			1			—			—
			$	14		(12)			674

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.

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- Definition

The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported.

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