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Supplemental Quarterly Financial Information
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Data [Abstract]  
Supplemental Quarterly Financial Information (Unaudited)

23.Supplemental Quarterly Financial Information (Unaudited)

 

Following is a summary of Devon’s unaudited interim results of operations.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

First
Quarter

 

Second
Quarter

 

Third
Quarter

 

Fourth
Quarter

 

Full
Year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions, except per share amounts)

Operating revenues

 

$
3,725 

 

$
4,510 

 

$
5,336 

 

$
5,995 

 

$
19,566 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes

 

$
560 

 

$
1,554 

 

$
1,654 

 

$
291 

 

$
4,059 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to Devon

 

$
324 

 

$
675 

 

$
1,016 

 

$
(408)

 

$
1,607 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net earnings (loss) per share attributable to Devon

 

$
0.80 

 

$
1.65 

 

$
2.48 

 

$
(1.01)

 

$
3.93 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net earnings (loss) per share attributable to Devon

 

$
0.79 

 

$
1.64 

 

$
2.47 

 

$
(1.01)

 

$
3.91 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

First
Quarter

 

Second
Quarter

 

Third
Quarter

 

Fourth
Quarter

 

Full
Year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions, except per share amounts)

Operating revenues

 

$
1,971 

 

$
3,088 

 

$
2,714 

 

$
2,624 

 

$
10,397 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes

 

$
(1,962)

 

$
997 

 

$
639 

 

$
475 

 

$
149 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to Devon

 

$
(1,339)

 

$
683 

 

$
429 

 

$
207 

 

$
(20)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net earnings (loss) per share attributable to Devon

 

$
(3.34)

 

$
1.69 

 

$
1.06 

 

$
0.51 

 

$
(0.06)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net earnings (loss) per share attributable to Devon

 

$
(3.34)

 

$
1.68 

 

$
1.05 

 

$
0.51 

 

$
(0.06)

 

 

Net Earnings (Loss) Attributable to Devon  

 

The fourth quarter of 2014 includes asset impairments of $1.9 billion (or $4.79 per diluted share) as discussed in Note 5.    

 

The first quarter of 2013 includes U.S. and Canadian property and equipment impairments totaling $1.9 billion ($1.3 billion after income taxes, or $3.25 per diluted share).