XML 78 R44.htm IDEA: XBRL DOCUMENT v2.4.1.9

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2014

Schedule Of Changes In Defined Benefit Plan Obligations

		Pension Benefits						Postretirement Benefits
		2014			2013			2014			2013
		(In millions)
Change in benefit obligation:
Benefit obligation at beginning of year		$	1,177		$	1,360		$	24		$	34
Service cost			30			36			1			1
Interest cost			55			51			1			1
Actuarial loss (gain)			203			(158)			-			(3)
Plan amendments			-			2			-			(8)
Plan settlements			(4)			-			-			-
Foreign exchange rate changes			(3)			(2)			-			-
Participant contributions			-			-			2			3
Benefits paid			(81)			(112)			(4)			(4)
Benefit obligation at end of year			1,377			1,177			24			24
Change in plan assets:
Fair value of plan assets at beginning of year			1,006			1,165			-			-
Actual return on plan assets			200			(57)			-			-
Employer contributions			29			11			2			1
Participant contributions			-			-			2			3
Plan settlements			(4)			-			-			-
Benefits paid			(81)			(112)			(4)			(4)
Foreign exchange rate changes			(1)			(1)			-			-
Fair value of plan assets at end of year			1,149			1,006			-			-
Funded status at end of year		$	(228)		$	(171)		$	(24)		$	(24)
Amounts recognized in balance sheet:
Other long-term assets		$	22		$	47		$	-		$	-
Other current liabilities			(10)			(12)			(3)			(3)
Other long-term liabilities			(240)			(206)			(21)			(21)
Net amount		$	(228)		$	(171)		$	(24)		$	(24)
Amounts recognized in accumulated other comprehensive earnings:
Net actuarial loss (gain)		$	317		$	279		$	(11)		$	(13)
Prior service cost (credit)			19			23			(9)			(11)
Total		$	336		$	302		$	(20)		$	(24)

Schedule Of Projected Benefit Obligation And Accumulated Benefit Obligation In Excess Of Plan Assets

		December 31,
		2014			2013
		(In millions)
Projected benefit obligation		$	250		$	218
Accumulated benefit obligation		$	191		$	179
Fair value of plan assets		$	-		$	-

Schedule Of Net Periodic Benefit Cost And Other Comprehensive Income For Pension And Other Postretirement Benefit Plans

		Pension Benefits									Postretirement Benefits
		2014			2013			2012			2014			2013			2012
		(In millions)
Net periodic benefit cost:
Service cost		$	30		$	36		$	43		$	1		$	1		$	1
Interest cost			55			51			60			1			1			1
Expected return on plan assets			(54)			(62)			(64)			-			-			-
Curtailment and settlement expense			1			-			26			-			-			1
Recognition of net actuarial loss (gain) (1)			18			22			24			(1)			(1)			(1)
Recognition of prior service cost (1)			4			4			3			(2)			(1)			(1)
Total net periodic benefit cost (2)			54			51			92			(1)			-			1
Other comprehensive loss (earnings):
Actuarial loss (gain) arising in current year			57			(39)			37			-			(3)			(4)
Prior service cost (credit) arising in current year			-			2			14			-			(8)			-
Recognition of net actuarial loss, including settlement
expense, in net periodic benefit cost			(19)			(22)			(45)			1			1			1
Recognition of prior service cost, including curtailment,
in net periodic benefit cost			(4)			(4)			(8)			2			1			1
Total other comprehensive loss (earnings)			34			(63)			(2)			3			(9)			(2)
Total recognized		$	88		$	(12)		$	90		$	2		$	(9)		$	(1)

__________________________

(1)  These net periodic benefit costs were reclassified out of other comprehensive earnings in the current period.

(2)  Net periodic benefit cost is a component of general and administrative expenses on the accompanying consolidated comprehensive statements of earnings.

Schedule Of Estimated Net Actuarial Loss And Prior Service Cost For The Pension And Other Postretirement Plans That Will Be Amortized From Accumulated Other Comprehensive Income Into Net Periodic Benefit Cost During 2015

		Pension Benefits			Postretirement Benefits
		(In millions)
Net actuarial loss (gain)		$	21		$	(1)
Prior service cost (credit)			4			(2)
Total		$	25		$	(3)

Schedule Of Weighted Average Actuarial Assumptions Used To Determine Benefit Obligations And Net Periodic Benefit Costs

		Pension Benefits									Postretirement Benefits
		2014			2013			2012			2014			2013			2012
Assumptions to determine benefit obligations:
Discount rate			3.90%			4.80%			3.85%			3.25%			3.65%			3.30%
Rate of compensation increase			4.49%			4.48%			4.48%			N/A			N/A			N/A
Assumptions to determine net periodic benefit cost:
Discount rate			4.80%			3.85%			4.65%			3.65%			3.30%			4.25%
Rate of compensation increase			4.49%			4.48%			4.97%			N/A			N/A			N/A
Expected return on plan assets			5.42%			5.48%			5.48%			N/A			N/A			N/A

Schedule Of Fair Value of Pension Assets By Asset Class

		As of December 31, 2014
								Fair Value Measurements Using:
		Actual Allocation			Total			Level 1 Inputs			Level 2 Inputs			Level 3 Inputs
		(In millions)
Fixed-income securities:
U.S. Treasury obligations			35.2%		$	405		$	50		$	355		$	-
Corporate bonds			31.7%			364			269			95			-
Other bonds			2.6%			30			30			-			-
Total fixed-income securities			69.5%			799			349			450			-
Equity securities:
Global (large, mid, small cap)			17.2%			197			-			197			-
Other securities:
Hedge fund and alternative investments			9.7%			112			-			-			112
Short-term investments			3.6%			41			15			26			-
Total other securities			13.3%			153			15			26			112
Total investments			100.0%		$	1,149		$	364		$	673		$	112

		As of December 31, 2013
								Fair Value Measurements Using:
		Actual Allocation			Total			Level 1 Inputs			Level 2 Inputs			Level 3 Inputs
		(In millions)
Fixed-income securities:
U.S. Treasury obligations			24.0%		$	241		$	69		$	172		$	-
Corporate bonds			39.5%			398			286			112			-
Other bonds			3.1%			31			31			-			-
Total fixed-income securities			66.6%			670			386			284			-
Equity securities:
Global (large, mid, small cap)			19.0%			190			-			190			-
Other securities:
Hedge fund and alternative investments			12.5%			127			15			-			112
Short-term investments			1.9%			19			-			19			-
Total other securities			14.4%			146			15			19			112
Total investments			100.0%		$	1,006		$	401		$	493		$	112

Schedule of Changes In Level 3 Plan Assets

December 31, 2012		$	103
Investment returns			9
December 31, 2013			112
Disbursements			(6)
Investment returns			6
December 31, 2014		$	112

Schedule Of Expected Cash Flow Information For Pension And Other Postretirement Benefit Plans

		Pension Benefits			Postretirement Benefits
		(In millions)
Devon's 2015 contributions		$	10		$	3
Benefit payments:
2015		$	73		$	3
2016		$	75		$	3
2017		$	79		$	3
2018		$	82		$	3
2019		$	86		$	2
2020 to 2024		$	466		$	8

Schedule Of Expense Related To These Defined Contribution Plans

		Year Ended December 31,
		2014			2013			2012
		(In millions)
401(k) and enhanced contribution plans		$	49		$	41		$	36
Canadian pension and savings plans			20			26			23
Total		$	69		$	67		$	59

Target Allocation [Member]

Schedule Of Fair Value of Pension Assets By Asset Class

		December 31,
		2014			2013
Fixed income			70%			70%
Equity			20%			20%
Other			10%			10%

X

- Definition

Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 3

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e2417-114920

+ Details

Name:	us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (d)(5)

-URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (s)

-URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (k)

-URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (d)(4)

-URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (f)

-URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (h)

-URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=dvn_TargetAllocationMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: