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Changes in Equity | 6 Months Ended
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Jun. 30, 2024
Stockholders' Equity Note [Abstract] |
Changes in Equity | Note 6—Changes in Equity
| Millions of Dollars |  |
| Common Stock |  |  |  |  |
| Par Value | Capital in Excess of Par | Treasury Stock | Accum. Other Comprehensive Income (Loss) | Retained Earnings | Total |  |
For the three months ended June 30, 2024 |  |  |  |  |  |  |  |
Balances at March 31, 2024 | $ | 21 |  | 61,300 |  | (66,974) |  | (5,917) |  | 60,895 |  | 49,325 |  |  |
Net income (loss) |  |  |  |  | 2,329 |  | 2,329 |  |  |
Other comprehensive income (loss) |  |  |  | (44) |  |  | (44) |  |  |
Dividends declared |  |  |  |  |  |  |  |
Ordinary ($0.58 per common share) |  |  |  |  | (680) |  | (680) |  |  |
Variable return of cash ($0.20 per common share) |  |  |  |  | (235) |  | (235) |  |  |
Repurchase of company common stock |  |  | (1,021) |  |  |  | (1,021) |  |  |
Excise tax on share repurchases |  |  | (10) |  |  |  | (10) |  |  |
Distributed under benefit plans |  | 81 |  |  |  |  | 81 |  |  |
Balances at June 30, 2024 | $ | 21 |  | 61,381 |  | (68,005) |  | (5,961) |  | 62,309 |  | 49,745 |  |  |
For the six months ended June 30, 2024 |  |  |  |  |  |  |  |
Balances at December 31, 2023 | $ | 21 |  | 61,303 |  | (65,640) |  | (5,673) |  | 59,268 |  | 49,279 |  |  |
Net income (loss) |  |  |  |  | 4,880 |  | 4,880 |  |  |
Other comprehensive income (loss) |  |  |  | (288) |  |  | (288) |  |  |
Dividends declared |  |  |  |  |  |  |  |
Ordinary ($1.16 per common share) |  |  |  |  | (1,368) |  | (1,368) |  |  |
Variable return of cash ($0.40 per common share) |  |  |  |  | (471) |  | (471) |  |  |
Repurchase of company common stock |  |  | (2,346) |  |  |  | (2,346) |  |  |
Excise tax on share repurchases |  |  | (19) |  |  |  | (19) |  |  |
Distributed under benefit plans |  | 78 |  |  |  |  | 78 |  |  |
Balances at June 30, 2024 | $ | 21 |  | 61,381 |  | (68,005) |  | (5,961) |  | 62,309 |  | 49,745 |  |  |
| Millions of Dollars
| Common Stock |  |  |
| Par Value | Capital in Excess of Par | Treasury Stock | Accum. Other Comprehensive Income (Loss) | Retained Earnings | Total
For the three months ended June 30, 2023 |  |  |  |  |  |
Balances at March 31, 2023 | $ | 21 |  | 61,100 |  | (61,904) |  | (6,027) |  | 54,593 |  | 47,783 |
Net income (loss) |  |  |  |  | 2,232 |  | 2,232 |
Other comprehensive income (loss) |  |  |  | 102 |  |  | 102 |
Dividends declared |  |  |  |  |  |
Ordinary ($0.51 per common share) |  |  |  |  | (620) |  | (620) |
Variable return of cash ($0.60 per common share) |  |  |  |  | (723) |  | (723) |
Repurchase of company common stock |  |  | (1,300) |  |  |  | (1,300) |
Excise tax on share repurchases |  |  | (13) |  |  |  | (13) |
Distributed under benefit plans |  | 69 |  |  |  |  | 69 |
Other |  |  |  |  | 1 |  | 1 |
Balances at June 30, 2023 | $ | 21 |  | 61,169 |  | (63,217) |  | (5,925) |  | 55,483 |  | 47,531 |
For the six months ended June 30, 2023 |  |  |  |  |  |
Balances at December 31, 2022 | $ | 21 |  | 61,142 |  | (60,189) |  | (6,000) |  | 53,029 |  | 48,003 |
Net income (loss) |  |  |  |  | 5,152 |  | 5,152 |
Other comprehensive income (loss) |  |  |  | 75 |  |  | 75 |
Dividends declared |  |  |  |  |  |
Ordinary ($1.02 per common share) |  |  |  |  | (1,245) |  | (1,245) |
Variable return of cash ($1.20 per common share) |  |  |  |  | (1,454) |  | (1,454) |
Repurchase of company common stock |  |  | (3,000) |  |  |  | (3,000) |
Excise tax on share repurchases |  |  | (28) |  |  |  | (28) |
Distributed under benefit plans |  | 27 |  |  |  |  | 27 |
Other |  |  |  |  | 1 |  | 1 |
Balances at June 30, 2023 | $ | 21 |  | 61,169 |  | (63,217) |  | (5,925) |  | 55,483 |  | 47,531 |

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