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Acquisitions and Dispositions (Tables) | 9 Months Ended
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Sep. 30, 2024
Business Combination, Asset Acquisition And Dispositions [Abstract] |
Schedule of Business Acquisition | The final consideration for the all-cash transaction was $3.0 billion after customary adjustments (CAD $4.1 billion):
Fair value of consideration | Millions of Dollars
Cash paid | $ | 2,635 |
Contingent consideration | 320 |
Final Consideration | $ | 2,955 |
Schedule of Assets Acquired and Liabilities Assumed |
Recognized amounts of identifiable assets acquired and liabilities assumed | Millions of Dollars
Oil and gas properties | $ | 3,082 |
Asset retirement obligations | (112) |
Other | (15) |
Total identifiable net assets | $ | 2,955 |
Schedule of Supplemental Pro Forma Financial Information | The following table summarizes the unaudited supplemental pro forma financial information for the three- and nine-month periods ended September 30, 2023, as if we had completed the acquisition on January 1, 2022.
| Millions of Dollars
| Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023
Supplemental Pro Forma (unaudited) | As Reported | Pro Forma Surmont | Pro Forma Combined |  | As Reported | Pro Forma Surmont | Pro Forma Combined
Total Revenues and Other Income | $ | 14,866 |  | 697 |  | 15,563 |  |  | 43,267 |  | 1,989 |  | 45,256 |
Income (loss) before income taxes | 4,100 |  | 269 |  | 4,369 |  |  | 12,024 |  | 498 |  | 12,522 |
Net Income (Loss) | 2,798 |  | 204 |  | 3,002 |  |  | 7,950 |  | 378 |  | 8,328 |
Earnings per share ($ per share): |  |  |  |  |  |  |
Basic net income (loss) | $ | 2.33 |  |  | 2.50 |  |  | 6.56 |  |  | 6.87 |
Diluted net income (loss) | 2.32 |  |  | 2.49 |  |  | 6.54 |  |  | 6.85 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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