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Consolidated Statements of Comprehensive Earnings - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues $ 755 $ 1,666 $ 2,122 $ 3,350
Oil, gas and NGL derivatives (361) 140 359 (465)
Total revenues 394 1,806 2,481 2,885
Production expenses 263 296 581 579
Exploration expenses 12 7 124 11
Depreciation, depletion and amortization 299 374 700 734
Asset impairments     2,666  
Asset dispositions   (2)   (47)
General and administrative expenses 79 114 181 249
Financing costs, net 69 66 134 126
Restructuring and transaction costs   12   63
Other expenses 13 7 (35) (15)
Total expenses 1,074 1,587 5,268 3,163
Earnings (loss) from continuing operations before income taxes (680) 219 (2,787) (278)
Income tax expense (benefit) (3) 68 (420) (51)
Net earnings (loss) from continuing operations (677) 151 (2,367) (227)
Net earnings (loss) from discontinued operations, net of income taxes 9 344 (116) 405
Net earnings (loss) (668) 495 (2,483) 178
Net earnings attributable to noncontrolling interests 2   3  
Net earnings (loss) attributable to Devon $ (670) $ 495 $ (2,486) $ 178
Basic net earnings (loss) per share:        
Basic earnings (loss) from continuing operations per share $ (1.80) $ 0.37 $ (6.29) $ (0.54)
Basic earnings (loss) from discontinued operations per share 0.02 0.83 (0.31) 0.96
Basic net earnings (loss) per share (1.78) 1.20 (6.60) 0.42
Diluted net earnings (loss) per share:        
Diluted earnings (loss) from continuing operations per share (1.80) 0.37 (6.29) (0.54)
Diluted earnings (loss) from discontinued operations per share 0.02 0.82 (0.31) 0.96
Diluted net earnings (loss) per share $ (1.78) $ 1.19 $ (6.60) $ 0.42
Comprehensive earnings (loss):        
Net earnings (loss) $ (668) $ 495 $ (2,483) $ 178
Other comprehensive earnings (loss), net of tax:        
Foreign currency translation, discontinued operations   43   78
Release of Canadian cumulative translation adjustment, discontinued operations [1]   (1,237)   (1,237)
Pension and postretirement plans 1 13 2 15
Other comprehensive earnings (loss), net of tax 1 (1,181) 2 (1,144)
Comprehensive loss (667) (686) (2,481) (966)
Comprehensive earnings attributable to noncontrolling interests 2   3  
Comprehensive loss attributable to Devon (669) (686) (2,484) (966)
Oil, Gas and NGL Sales [Member]        
Revenues 424 936 1,231 1,855
Marketing and Midstream Revenues [Member]        
Revenues 331 730 891 1,495
Marketing and Midstream Expenses [Member]        
Expenses $ 339 $ 713 $ 917 $ 1,463
[1] In conjunction with the sale of substantially all of its oil and gas assets and operations in Canada, Devon released the cumulative translation adjustment as part of its gain on the disposition of its Canadian business. See Note 17 for additional details.