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Supplemental Quarterly Financial Information | 12 Months Ended
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Dec. 31, 2011
Supplemental Quarterly Financial Information [Abstract] |
Supplemental Quarterly Financial Information | 23. Supplemental Quarterly Financial Information (Unaudited) Following is a summary of Devon's unaudited interim results of operations.
| 2011
| First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year
| (In millions, except per share amounts)
Revenues | $ 2,147 | $ 3,220 | $ 3,502 | $ 2,585 | $ 11,454
Earnings from continuing operations before income taxes | $ 580 | $ 1,378 | $ 1,538 | $ 794 | $ 4,290
Earnings from continuing operations | $ 389 | $ 184 | $ 1,040 | $ 521 | $ 2,134
Earnings (loss) from discontinued operations | 27 | 2,559 | (2) | (14) | 2,570
Net earnings | $ 416 | $ 2,743 | $ 1,038 | $ 507 | $ 4,704
Basic net earnings per common share: |  |  |  |  |
Earnings from continuing operations | $ 0.91 | $ 0.44 | $ 2.51 | $ 1.29 | $ 5.12
Earnings (loss) from discontinued operations | 0.06 | 6.06 | — | (0.04) | 6.17
Net earnings | $ 0.97 | $ 6.50 | $ 2.51 | $ 1.25 | $ 11.29
Diluted net earnings per common share: |  |  |  |  |
Earnings from continuing operations | $ 0.91 | $ 0.43 | $ 2.50 | $ 1.29 | $ 5.10
Earnings (loss) from discontinued operations | 0.06 | 6.05 | — | (0.04) | 6.15
Net earnings | $ 0.97 | $ 6.48 | $ 2.50 | $ 1.25 | $ 11.25
| 2010
| First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year
| (In millions, except per share amounts)
Revenues | $ 3,220 | $ 2,232 | $ 2,353 | $ 2,135 | $ 9,940
(Loss) earnings from continuing operations before income taxes | $ 1,588 | $ 613 | $ 699 | $ 668 | $ 3,568
(Loss) earnings from continuing operations | $ 1,074 | $ 352 | $ 429 | $ 478 | $ 2,333
(Loss) earnings from discontinued operations | 118 | 354 | 1,661 | 84 | 2,217
Net (loss) earnings | $ 1,192 | $ 706 | $ 2,090 | $ 562 | $ 4,550
Basic net (loss) earnings per common share: |  |  |  |  |
(Loss) earnings from continuing operations | $ 2.40 | $ 0.79 | $ 0.99 | $ 1.10 | $ 5.31
(Loss) earnings from discontinued operations.. | 0.27 | 0.80 | 3.82 | 0.20 | 5.04
Net (loss) earnings | $ 2.67 | $ 1.59 | $ 4.81 | $ 1.30 | $ 10.35
Diluted net (loss) earnings per common share: |  |  |  |  |
(Loss) earnings from continuing operations | $ 2.39 | $ 0.79 | $ 0.98 | $ 1.10 | $ 5.29
(Loss) earnings from discontinued operations.. | 0.27 | 0.79 | 3.81 | 0.19 | 5.02
Net (loss) earnings | $ 2.66 | $ 1.58 | $ 4.79 | $ 1.29 | $ 10.31
Earnings (Loss) from Continuing Operations The second quarter of 2011 includes deferred income taxes of $725 million (or $1.71 per diluted share) related to assumed repatriations of foreign earnings that were no longer deemed to be permanently reinvested in accordance with accounting principles generally accepted in the U.S. Earnings (Loss) from Discontinued Operations The second quarter of 2011 includes the divestiture of our Brazil operations and the related gain was $2.5 billion ($2.5 billion after income taxes, or $6.01 per diluted share). The second quarter of 2010 includes the divestiture of our Panyu operations in China and the related gain was $308 million ($235 million after income taxes, or $0.52 per diluted share). The third quarter of 2010 includes the divestiture of our Azerbaijan operations and the related gain was $1.5 billion ($1.5 billion after income taxes, or $3.49 per diluted share).

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
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