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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Deferred Income Tax Assets (Liabilities), Net | The principal components of EOG's total net deferred income tax liabilities at December 31, 2023 and 2022 were as follows (in millions):
| 2023 |  | 2022
Deferred Income Tax Assets (Liabilities) |  |  |
Foreign Oil and Gas Exploration and Development Costs Deducted for Tax Under Book Depreciation, Depletion and Amortization | $ | (26) |  |  | $ | (18) |
Foreign Asset Retirement Obligations | 84 |  |  | 81 |
Foreign Accrued Expenses and Liabilities | 12 |  |  | 13 |
Foreign Net Operating Loss | 97 |  |  | 82 |
Foreign Valuation Allowances | (126) |  |  | (116) |
Foreign Other | 1 |  |  | (9) |
Total Net Deferred Income Tax Assets | $ | 42 |  |  | $ | 33 |
Deferred Income Tax (Assets) Liabilities |  |  |
Oil and Gas Exploration and Development Costs Deducted for Tax Over Book Depreciation, Depletion and Amortization | $ | 5,778 |  |  | $ | 5,291 |
Financial Commodity Derivative Contracts | — |  |  | (421) |
Deferred Compensation Plans | (61) |  |  | (58) |
Equity Awards | (59) |  |  | (60) |
Corporate Alternative Minimum Tax | (212) |  |  | — |
Other | (44) |  |  | (42) |
Total Net Deferred Income Tax Liabilities | $ | 5,402 |  |  | $ | 4,710 |
Total Net Deferred Income Tax Liabilities | $ | 5,360 |  |  | $ | 4,677 |
Schedule of Components of Income (Loss) Before Income Taxes | The components of Income Before Income Taxes for the years indicated below were as follows (in millions):
| 2023 |  | 2022 |  | 2021
United States | $ | 9,576 |  |  | $ | 9,752 |  |  | $ | 5,787 |
Foreign | 113 |  |  | 149 |  |  | 146 |
Total | $ | 9,689 |  |  | $ | 9,901 |  |  | $ | 5,933 |
Schedule of Components of Income Tax Provision (Benefit) | The principal components of EOG's Income Tax Provision (Benefit) for the years indicated below were as follows (in millions):
| 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
Federal | $ | 1,334 |  |  | $ | 2,020 |  |  | $ | 1,203 |
State | 76 |  |  | 126 |  |  | 85 |
Foreign | 5 |  |  | 62 |  |  | 105 |
Total | 1,415 |  |  | 2,208 |  |  | 1,393 |
Deferred: |  |  |  |  |
Federal | 628 |  |  | (2) |  |  | (41) |
State | 55 |  |  | (37) |  |  | (62) |
Foreign | — |  |  | (22) |  |  | (19) |
Total | 683 |  |  | (61) |  |  | (122) |
Other Non-Current: |  |  |  |  |
Foreign | (3) |  |  | (5) |  |  | (2) |
Total | (3) |  |  | (5) |  |  | (2) |
Income Tax Provision | $ | 2,095 |  |  | $ | 2,142 |  |  | $ | 1,269 |
Schedule of Tax Rate Reconciliation | The differences between taxes computed at the U.S. federal statutory tax rate and EOG's effective rate for the years indicated below were as follows:
| 2023 |  | 2022 |  | 2021
Statutory Federal Income Tax Rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State Income Tax, Net of Federal Benefit | 1.0 |  |  | 0.7 |  |  | 0.3 |
Income Tax Provision Related to Foreign Operations | (0.2) |  |  | — |  |  | 0.9 |
Stock-Based Compensation | — |  |  | — |  |  | 0.2 |
Other | (0.2) |  |  | — |  |  | (1.0) |
Effective Income Tax Rate | 21.6 | % |  | 21.7 | % |  | 21.4 | %
Schedule of Valuation Allowance | The principal components of EOG's rollforward of valuation allowances for deferred income tax assets for the years indicated below were as follows (in millions):
| 2023 |  | 2022 |  | 2021
Beginning Balance | $ | 207 |  |  | $ | 219 |  |  | $ | 219 |
Increase (1) | 8 |  |  | 27 |  |  | 15 |
Decrease (2) | — |  |  | (33) |  |  | (14) |
Other (3) | 1 |  |  | (6) |  |  | (1) |
Ending Balance | $ | 216 |  |  | $ | 207 |  |  | $ | 219 |
(1) Increase in valuation allowance related to the generation of tax NOLs and other deferred tax assets. (2) Decrease in valuation allowance associated with adjustments to certain deferred tax assets and their related allowances. (3) Represents dispositions, revisions and/or foreign exchange rate variances and the effect of statutory income tax rate changes.

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