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Discontinued Operations and Assets Held for Sale (Tables) | 9 Months Ended
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Sep. 30, 2020
Discontinued Operations And Disposal Groups [Abstract] |
Summary of Amounts Reported as Discontinued Operations in the Consolidated Statements of Comprehensive Earnings and Carrying Amounts of Assets and Liabilities Classified as Held for Sale on the Consolidated Balance Sheets | The following table presents the amounts reported in the consolidated statements of comprehensive earnings as discontinued operations.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | Barnett Shale |  |  | Canada |  |  | Total |  |  | Barnett Shale |  |  | Canada |  |  | Total |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oil, gas and NGL sales |  | $ | 94 |  |  | $ | — |  |  | $ | 94 |  |  | $ | 263 |  |  | $ | — |  |  | $ | 263 |
Total revenues |  |  | 94 |  |  |  | — |  |  |  | 94 |  |  |  | 263 |  |  |  | — |  |  |  | 263 |
Production expenses |  |  | 66 |  |  |  | — |  |  |  | 66 |  |  |  | 214 |  |  |  | — |  |  |  | 214 |
Asset impairments |  |  | 3 |  |  |  | — |  |  |  | 3 |  |  |  | 182 |  |  |  | — |  |  |  | 182 |
Asset dispositions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | (2 | )
General and administrative expenses |  |  | — |  |  |  | 2 |  |  |  | 2 |  |  |  | — |  |  |  | 3 |  |  |  | 3 |
Financing costs, net |  |  | — |  |  |  | (1 | ) |  |  | (1 | ) |  |  | — |  |  |  | (3 | ) |  |  | (3 | )
Other expenses |  |  | 27 |  |  |  | (1 | ) |  |  | 26 |  |  |  | 16 |  |  |  | 3 |  |  |  | 19 |
Total expenses |  |  | 96 |  |  |  | — |  |  |  | 96 |  |  |  | 412 |  |  |  | 1 |  |  |  | 413 |
Earnings (loss) from discontinued operations before income taxes |  |  | (2 | ) |  |  | — |  |  |  | (2 | ) |  |  | (149 | ) |  |  | (1 | ) |  |  | (150 | )
Income tax benefit |  |  | — |  |  |  | (15 | ) |  |  | (15 | ) |  |  | (32 | ) |  |  | (15 | ) |  |  | (47 | )
Net earnings (loss) from discontinued operations, net of tax |  | $ | (2 | ) |  | $ | 15 |  |  | $ | 13 |  |  | $ | (117 | ) |  | $ | 14 |  |  | $ | (103 | )
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oil, gas and NGL sales |  | $ | 101 |  |  | $ | 11 |  |  | $ | 112 |  |  | $ | 365 |  |  | $ | 741 |  |  | $ | 1,106 |
Oil, gas and NGL derivatives |  |  | — |  |  |  | (18 | ) |  |  | (18 | ) |  |  | — |  |  |  | (113 | ) |  |  | (113 | )
Marketing and midstream revenues |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 38 |  |  |  | 38 |
Total revenues |  |  | 101 |  |  |  | (7 | ) |  |  | 94 |  |  |  | 365 |  |  |  | 666 |  |  |  | 1,031 |
Production expenses |  |  | 75 |  |  |  | (1 | ) |  |  | 74 |  |  |  | 232 |  |  |  | 293 |  |  |  | 525 |
Exploration expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13 |  |  |  | 13 |
Marketing and midstream expenses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18 |  |  |  | 18 |
Depreciation, depletion and amortization |  |  | 20 |  |  |  | — |  |  |  | 20 |  |  |  | 60 |  |  |  | 128 |  |  |  | 188 |
Asset impairments |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 37 |  |  |  | 37 |
Asset dispositions |  |  | (1 | ) |  |  | (34 | ) |  |  | (35 | ) |  |  | 1 |  |  |  | (223 | ) |  |  | (222 | )
General and administrative expenses |  |  | — |  |  |  | 2 |  |  |  | 2 |  |  |  | — |  |  |  | 33 |  |  |  | 33 |
Financing costs, net |  |  | — |  |  |  | 59 |  |  |  | 59 |  |  |  | — |  |  |  | 85 |  |  |  | 85 |
Restructuring and transaction costs |  |  | — |  |  |  | 5 |  |  |  | 5 |  |  |  | — |  |  |  | 244 |  |  |  | 244 |
Other expenses |  |  | 3 |  |  |  | 5 |  |  |  | 8 |  |  |  | 9 |  |  |  | 8 |  |  |  | 17 |
Total expenses |  |  | 97 |  |  |  | 36 |  |  |  | 133 |  |  |  | 302 |  |  |  | 636 |  |  |  | 938 |
Earnings from discontinued operations before income taxes |  |  | 4 |  |  |  | (43 | ) |  |  | (39 | ) |  |  | 63 |  |  |  | 30 |  |  |  | 93 |
Income tax expense (benefit) |  |  | 1 |  |  |  | (13 | ) |  |  | (12 | ) |  |  | 13 |  |  |  | (298 | ) |  |  | (285 | )
Net earnings from discontinued operations, net of tax |  | $ | 3 |  |  | $ | (30 | ) |  | $ | (27 | ) |  | $ | 50 |  |  | $ | 328 |  |  | $ | 378 |
The following table presents the carrying amounts of the assets and liabilities associated with discontinued operations on the consolidated balance sheets.
|  | As of September 30, 2020 |  |  | As of December 31, 2019 |
|  | Barnett Shale |  |  | Canada |  |  | Total |  |  | Barnett Shale |  |  | Canada |  |  | Total |
Cash restricted for discontinued operations |  | $ | 20 |  |  | $ | 170 |  |  | $ | 190 |  |  | $ | 25 |  |  | $ | 355 |  |  | $ | 380 |
Accounts receivable |  | $ | 33 |  |  | $ | — |  |  | $ | 33 |  |  | $ | 38 |  |  | $ | 1 |  |  | $ | 39 |
Other current assets |  |  | 6 |  |  |  | — |  |  |  | 6 |  |  |  | 5 |  |  |  | 2 |  |  |  | 7 |
Oil and gas property and equipment, based on successful efforts accounting, net |  |  | 590 |  |  |  | — |  |  |  | 590 |  |  |  | 751 |  |  |  | — |  |  |  | 751 |
Other property and equipment, net |  |  | 11 |  |  |  | — |  |  |  | 11 |  |  |  | 11 |  |  |  | — |  |  |  | 11 |
Goodwill |  |  | 88 |  |  |  | — |  |  |  | 88 |  |  |  | 88 |  |  |  | — |  |  |  | 88 |
Other long-term assets |  |  | — |  |  |  | 81 |  |  |  | 81 |  |  |  | — |  |  |  | 81 |  |  |  | 81 |
Total assets associated with discontinued operations |  | $ | 728 |  |  | $ | 81 |  |  | $ | 809 |  |  | $ | 893 |  |  | $ | 84 |  |  | $ | 977 |
Accounts payable |  | $ | 17 |  |  | $ | 3 |  |  | $ | 20 |  |  | $ | 15 |  |  | $ | 4 |  |  | $ | 19 |
Revenues and royalties payable |  |  | 42 |  |  |  | 3 |  |  |  | 45 |  |  |  | 44 |  |  |  | 3 |  |  |  | 47 |
Other current liabilities |  |  | 215 |  |  |  | 38 |  |  |  | 253 |  |  |  | 19 |  |  |  | 233 |  |  |  | 252 |
Asset retirement obligations |  |  | 145 |  |  |  | — |  |  |  | 145 |  |  |  | 141 |  |  |  | — |  |  |  | 141 |
Other long-term liabilities |  |  | 14 |  |  |  | 143 |  |  |  | 157 |  |  |  | 16 |  |  |  | 169 |  |  |  | 185 |
Total liabilities associated with discontinued operations |  | $ | 433 |  |  | $ | 187 |  |  | $ | 620 |  |  | $ | 235 |  |  | $ | 409 |  |  | $ | 644 |

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