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v3.4.0.3

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2016 | Mar. 31, 2015
Revenues | $ 3,527 | $ 4,153
Cost of sales: |  |
Production and delivery | 2,725 | 2,912
Depreciation, depletion and amortization | 722 | 939
Impairment of oil and gas properties | 3,787 | 3,104
Total cost of sales | 7,234 | 6,955
Selling, general and administrative expenses | 140 | 154
Mining exploration and research expenses | 19 | 33
Environmental obligations and shutdown costs | 10 | 13
Net gain on sale of assets | 0 | (39)
Total costs and expenses | 7,403 | 7,116
Operating loss | (3,876) | (2,963)
Interest expense, net | (200) | (146)
Other income, net | 38 | 7
Loss before income taxes and equity in affiliated companies' net earnings | (4,038) | (3,102)
(Provision for) benefit from income taxes | (70) | 695
Equity in affiliated companies’ net earnings | 7 | 1
Net loss | (4,101) | (2,406)
Net income attributable to noncontrolling interests | (72) | (58)
Preferred dividends attributable to redeemable noncontrolling interest | (11) | (10)
Net loss attributable to common stockholders | $ (4,184) | $ (2,474)
Basic and diluted net loss per share attributable to common stockholders | $ (3.35) | $ (2.38)
Basic and diluted weighted-average common shares outstanding | 1,251 | 1,040
Dividends declared per share of common stock | $ 0 | $ 0.05

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- Definition Exploration expenses (including prospecting) related to the mining industry would be included in operating expenses. Exploration costs include costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of mineral reserves. Research and development costs are the aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. + References No definition available. + Details
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- Definition Costs incurred related to mineral extraction, processing and marketing and cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs. + References No definition available. + Details
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