XML 57 R41.htm IDEA: XBRL DOCUMENT
v3.25.2

Segment Disclosures and Related Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
Reconciliation of Revenue from Segments to Consolidated |
Three Months Ended June 30, 2025 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Segment sales and other operating revenues |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | 1,315 |  | 9,966 |  | 1,334 |  | 1,400 |  | 471 |  | — |  | 14 |  | 14,500 |
Intersegment eliminations | — |  | (3) |  | (486) |  | — |  | — |  | — |  | (7) |  | (496) |
Consolidated sales and other operating revenues | 1,315 |  | 9,963 |  | 848 |  | 1,400 |  | 471 |  | — |  | 7 |  | 14,004 |
Significant segment expenses* |  |  |  |  |  |  |  |
Production and operating expenses | 546 |  | 1,474 |  | 216 |  | 232 |  | 85 |  | — |  | 19 |  | 2,572 |
DD&A | 361 |  | 2,003 |  | 143 |  | 198 |  | 118 |  | — |  | 15 |  | 2,838 |
Income tax provision (benefit) | 47 |  | 382 |  | 50 |  | 593 |  | 67 |  | — |  | (93) |  | 1,046 |
Total | 954 |  | 3,859 |  | 409 |  | 1,023 |  | 270 |  | — |  | (59) |  | 6,456 |
Other segment items |  |  |  |  |  |  |  |
Equity in earnings of affiliates | — |  | (4) |  | — |  | (115) |  | (185) |  | — |  | (11) |  | (315) |
Interest income | — |  | — |  | — |  | — |  | (2) |  | — |  | (65) |  | (67) |
Interest and debt expense | — |  | — |  | — |  | — |  | — |  | — |  | 232 |  | 232 |
Other** | 226 |  | 4,709 |  | 290 |  | 255 |  | 58 |  | (1) |  | 190 |  | 5,727 |
Total | 226 |  | 4,705 |  | 290 |  | 140 |  | (129) |  | (1) |  | 346 |  | 5,577 |
Net Income (Loss) | $ | 135 |  | 1,399 |  | 149 |  | 237 |  | 330 |  | 1 |  | (280) |  | 1,971 |
*The significant segment expense categories and amounts in the table above align with segment-level information that is regularly provided to the CODM.
**Other segment items not required to be separately disclosed for each reportable segment include:
Gain (loss) on disposition and Impairments: L48
Other income: L48, EMENA, OI and Corporate
Purchased commodities and Accretion on discounted liabilities: Alaska, L48, Canada, EMENA and AP
Selling, general and administrative expenses: Alaska, L48, Canada, EMENA, AP, OI and Corporate
Exploration expenses and Taxes other than income taxes: Alaska, L48, Canada, EMENA, AP and Corporate
Foreign currency transaction (gain) loss: Canada, EMENA, AP and Corporate
Other expenses: L48, EMENA and Corporate
Three Months Ended June 30, 2024 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Segment sales and other operating revenues |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | 1,783 |  | 9,053 |  | 1,553 |  | 1,296 |  | 543 |  | — |  | 11 |  | 14,239 |
Intersegment eliminations | — |  | — |  | (612) |  | — |  | — |  | — |  | (7) |  | (619) |
Consolidated sales and other operating revenues | 1,783 |  | 9,053 |  | 941 |  | 1,296 |  | 543 |  | — |  | 4 |  | 13,620 |
Significant segment expenses* |  |  |  |  |  |  |  |
Production and operating expenses | 490 |  | 1,158 |  | 223 |  | 162 |  | 92 |  | — |  | 39 |  | 2,164 |
DD&A | 321 |  | 1,557 |  | 166 |  | 175 |  | 107 |  | — |  | 8 |  | 2,334 |
Income tax provision (benefit) | 135 |  | 367 |  | 86 |  | 666 |  | 95 |  | — |  | (19) |  | 1,330 |
Total | 946 |  | 3,082 |  | 475 |  | 1,003 |  | 294 |  | — |  | 28 |  | 5,828 |
Other segment items |  |  |  |  |  |  |  |
Equity in earnings of affiliates | — |  | — |  | — |  | (137) |  | (268) |  | — |  | 2 |  | (403) |
Interest income | — |  | — |  | — |  | — |  | (2) |  | — |  | (95) |  | (97) |
Interest and debt expense | — |  | — |  | — |  | — |  | — |  | — |  | 198 |  | 198 |
Other** | 477 |  | 4,712 |  | 205 |  | 179 |  | 75 |  | (3) |  | 120 |  | 5,765 |
Total | 477 |  | 4,712 |  | 205 |  | 42 |  | (195) |  | (3) |  | 225 |  | 5,463 |
Net Income (Loss) | $ | 360 |  | 1,259 |  | 261 |  | 251 |  | 444 |  | 3 |  | (249) |  | 2,329 |
*The significant segment expense categories and amounts in the table above align with segment-level information that is regularly provided to the CODM.
**Other segment items not required to be separately disclosed for each reportable segment include:
Gain (loss) on disposition: L48
Other income: L48, Canada, EMENA, AP, OI and Corporate
Purchased commodities and Exploration expenses: Alaska, L48, Canada, EMENA and AP
Selling, general and administrative expenses: Alaska, L48, Canada, EMENA, AP, OI and Corporate
Impairments: Alaska and L48
Taxes other than income taxes and Accretion on discounted liabilities: Alaska, L48, Canada, EMENA, AP and Corporate
Foreign currency transaction (gain) loss: Canada, EMENA, AP and Corporate
Other expenses: Alaska, EMENA and Corporate
Six Months Ended June 30, 2025 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Segment sales and other operating revenues |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | 2,925 |  | 21,514 |  | 2,866 |  | 3,340 |  | 895 |  | — |  | 32 |  | 31,572 |
Intersegment eliminations | — |  | (3) |  | (1,033) |  | — |  | — |  | — |  | (15) |  | (1,051) |
Consolidated sales and other operating revenues | 2,925 |  | 21,511 |  | 1,833 |  | 3,340 |  | 895 |  | — |  | 17 |  | 30,521 |
Significant segment expenses* |  |  |  |  |  |  |  |
Production and operating expenses | 1,052 |  | 2,965 |  | 417 |  | 456 |  | 150 |  | — |  | 38 |  | 5,078 |
DD&A | 716 |  | 3,907 |  | 274 |  | 417 |  | 237 |  | — |  | 33 |  | 5,584 |
Income tax provision (benefit) | 186 |  | 830 |  | 131 |  | 1,515 |  | 131 |  | — |  | (130) |  | 2,663 |
Total | 1,954 |  | 7,702 |  | 822 |  | 2,388 |  | 518 |  | — |  | (59) |  | 13,325 |
Other segment items |  |  |  |  |  |  |  |
Equity in earnings of affiliates | — |  | (8) |  | — |  | (288) |  | (391) |  | — |  | (20) |  | (707) |
Interest income | — |  | — |  | — |  | — |  | (4) |  | — |  | (139) |  | (143) |
Interest and debt expense | — |  | — |  | — |  | — |  | — |  | — |  | 437 |  | 437 |
Other** | 509 |  | 10,628 |  | 606 |  | 584 |  | 131 |  | (3) |  | 334 |  | 12,789 |
Total | 509 |  | 10,620 |  | 606 |  | 296 |  | (264) |  | (3) |  | 612 |  | 12,376 |
Net Income (Loss) | $ | 462 |  | 3,189 |  | 405 |  | 656 |  | 641 |  | 3 |  | (536) |  | 4,820 |
*The significant segment expense categories and amounts in the table above align with segment-level information that is regularly provided to the CODM.
**Other segment items not required to be separately disclosed for each reportable segment include:
Gain (loss) on disposition: L48 and OI
Other income: L48, Canada, EMENA, AP, OI and Corporate
Purchased commodities: Alaska, L48, Canada, EMENA and AP
Selling, general and administrative expenses: Alaska, L48, Canada, EMENA, AP, OI and Corporate
Exploration expenses, Taxes other than income taxes and Accretion on discounted liabilities: Alaska, L48, Canada, EMENA, AP and Corporate
Impairments: L48 and EMENA
Foreign currency transaction (gain) loss: Canada, EMENA, AP and Corporate
Other expenses: EMENA and Corporate
Six Months Ended June 30, 2024 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Segment sales and other operating revenues |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | 3,453 |  | 18,362 |  | 2,997 |  | 2,753 |  | 1,017 |  | — |  | 24 |  | 28,606 |
Intersegment eliminations | — |  | (1) |  | (1,120) |  | — |  | — |  | — |  | (17) |  | (1,138) |
Consolidated sales and other operating revenues | 3,453 |  | 18,361 |  | 1,877 |  | 2,753 |  | 1,017 |  | — |  | 7 |  | 27,468 |
Significant segment expenses* |  |  |  |  |  |  |  |
Production and operating expenses | 969 |  | 2,240 |  | 440 |  | 317 |  | 171 |  | — |  | 42 |  | 4,179 |
DD&A | 645 |  | 2,989 |  | 324 |  | 355 |  | 217 |  | — |  | 15 |  | 4,545 |
Income tax provision (benefit) | 257 |  | 752 |  | 142 |  | 1,443 |  | 100 |  | — |  | (107) |  | 2,587 |
Total | 1,871 |  | 5,981 |  | 906 |  | 2,115 |  | 488 |  | — |  | (50) |  | 11,311 |
Other segment items |  |  |  |  |  |  |  |
Equity in earnings of affiliates | — |  | — |  | — |  | (277) |  | (550) |  | — |  | 3 |  | (824) |
Interest income | — |  | — |  | — |  | — |  | (4) |  | — |  | (196) |  | (200) |
Interest and debt expense | — |  | — |  | — |  | — |  | — |  | — |  | 403 |  | 403 |
Other** | 876 |  | 9,740 |  | 530 |  | 360 |  | 127 |  | (2) |  | 267 |  | 11,898 |
Total | 876 |  | 9,740 |  | 530 |  | 83 |  | (427) |  | (2) |  | 477 |  | 11,277 |
Net income (Loss) | $ | 706 |  | 2,640 |  | 441 |  | 555 |  | 956 |  | 2 |  | (420) |  | 4,880 |
*The significant segment expense categories and amounts in the table above align with segment-level information that is regularly provided to the CODM.
**Other segment items not required to be separately disclosed for each reportable segment include:
Gain (loss) on disposition: L48 and OI
Other income: L48, Canada, EMENA, AP, OI and Corporate
Purchased commodities: Alaska, L48, Canada, EMENA and AP
Selling, general and administrative expenses: Alaska, L48, Canada, EMENA, AP, OI and Corporate
Exploration expenses, Taxes other than income taxes and Accretion on discounted liabilities: Alaska, L48, Canada, EMENA, AP and Corporate
Impairments: Alaska and L48
Foreign currency transaction (gain) loss: Canada, EMENA, AP and Corporate
Other expenses: Alaska, L48 and EMENA
Segment, Reconciliation of Other Items from Segments to Consolidated |
Three Months Ended June 30, 2025 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Investment in and advances to affiliates | $ | 4 |  | 126 |  | — |  | 2,084 |  | 5,172 |  | — |  | 1,612 |  | 8,998 |
Total Assets | 19,374 |  | 65,087 |  | 10,029 |  | 10,128 |  | 8,515 |  | — |  | 9,466 |  | 122,599 |
Capital expenditures and investments | 986 |  | 1,704 |  | 144 |  | 356 |  | 64 |  | — |  | 32 |  | 3,286 |
Three Months Ended June 30, 2024 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Investment in and advances to affiliates | $ | 33 |  | 122 |  | — |  | 1,265 |  | 5,143 |  | 5 |  | 1,489 |  | 8,057 |
Total Assets | 17,124 |  | 42,659 |  | 10,047 |  | 7,968 |  | 8,483 |  | 5 |  | 9,708 |  | 95,994 |
Capital expenditures and investments | 691 |  | 1,649 |  | 131 |  | 227 |  | 90 |  | — |  | 181 |  | 2,969 |
Six Months Ended June 30, 2025 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Investment in and advances to affiliates | $ | 4 |  | 126 |  | — |  | 2,084 |  | 5,172 |  | — |  | 1,612 |  | 8,998 |
Total Assets | 19,374 |  | 65,087 |  | 10,029 |  | 10,128 |  | 8,515 |  | — |  | 9,466 |  | 122,599 |
Capital expenditures and investments | 2,032 |  | 3,518 |  | 309 |  | 630 |  | 118 |  | — |  | 57 |  | 6,664 |
Six Months Ended June 30, 2024 | Millions of Dollars
| Alaska | L48 | Canada | EMENA | AP | OI | Corporate | Consolidated Total
Investment in and advances to affiliates | $ | 33 |  | 122 |  | — |  | 1,265 |  | 5,143 |  | 5 |  | 1,489 |  | 8,057 |
Total Assets | 17,124 |  | 42,659 |  | 10,047 |  | 7,968 |  | 8,483 |  | 5 |  | 9,708 |  | 95,994 |
Capital expenditures and investments | 1,411 |  | 3,265 |  | 283 |  | 446 |  | 135 |  | — |  | 345 |  | 5,885 |
Schedule of Operating Segment Reporting by Geographic Location |
| Millions of Dollars
| Three Months Ended June 30 | Six Months Ended June 30
| 2025 | 2024 | 2025 | 2024
Sales and Other Operating Revenues by Geographic Location* |  |  |
U.S. | $ | 11,137 |  | 10,776 |  | 24,249 |  | 21,756 |
Canada | 742 |  | 941 |  | 1,689 |  | 1,877 |
China | 255 |  | 275 |  | 492 |  | 488 |
Equatorial Guinea | 117 |  | — |  | 356 |  | — |
Libya | 406 |  | 470 |  | 916 |  | 970 |
Malaysia | 217 |  | 268 |  | 403 |  | 529 |
Norway | 428 |  | 514 |  | 1,034 |  | 1,138 |
Singapore | 105 |  | — |  | 144 |  | — |
U.K. | 596 |  | 374 |  | 1,236 |  | 707 |
Other foreign countries | 1 |  | 2 |  | 2 |  | 3 |
Worldwide consolidated | $ | 14,004 |  | 13,620 |  | 30,521 |  | 27,468 |
Sales and Other Operating Revenues by Product |  |  |  |
Crude oil | $ | 9,528 |  | 10,112 |  | 20,361 |  | 19,674 |
Natural gas | 1,930 |  | 1,175 |  | 4,762 |  | 3,057 |
Natural gas liquids | 938 |  | 662 |  | 1,993 |  | 1,342 |
Other** | 1,608 |  | 1,671 |  | 3,405 |  | 3,395 |
Consolidated sales and other operating revenues by product | $ | 14,004 |  | 13,620 |  | 30,521 |  | 27,468 |
*Sales and other operating revenues are attributable to countries based on the location of the selling operation. **Includes bitumen and power.

X
- Definition Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration