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Consolidated Statements of Comprehensive Earnings - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues $ 1,154 $ 1,619 $ 3,276 $ 4,969
Oil, gas and NGL derivatives (87) 127 272 (338)
Total revenues 1,067 1,746 3,548 4,631
Production expenses 271 294 852 873
Exploration expenses 39 18 163 29
Depreciation, depletion and amortization 299 381 999 1,115
Asset impairments     2,666  
Asset dispositions   (1)   (48)
General and administrative expenses 75 107 256 356
Financing costs, net 66 60 200 186
Restructuring and transaction costs 32 10 32 73
Other expenses   3 (35) (12)
Total expenses 1,260 1,556 6,528 4,719
Earnings (loss) from continuing operations before income taxes (193) 190 (2,980) (88)
Income tax expense (benefit) (90) 54 (510) 3
Net earnings (loss) from continuing operations (103) 136 (2,470) (91)
Net earnings (loss) from discontinued operations, net of income taxes 13 (27) (103) 378
Net earnings (loss) (90) 109 (2,573) 287
Net earnings attributable to noncontrolling interests 2   5  
Net earnings (loss) attributable to Devon $ (92) $ 109 $ (2,578) $ 287
Basic net earnings (loss) per share:        
Basic earnings (loss) from continuing operations per share $ (0.29) $ 0.34 $ (6.58) $ (0.22)
Basic earnings (loss) from discontinued operations per share 0.04 (0.07) (0.27) 0.91
Basic net earnings (loss) per share (0.25) 0.27 (6.85) 0.69
Diluted net earnings (loss) per share:        
Diluted earnings (loss) from continuing operations per share (0.29) 0.34 (6.58) (0.22)
Diluted earnings (loss) from discontinued operations per share 0.04 (0.07) (0.27) 0.91
Diluted net earnings (loss) per share $ (0.25) $ 0.27 $ (6.85) $ 0.69
Comprehensive earnings (loss):        
Net earnings (loss) $ (90) $ 109 $ (2,573) $ 287
Other comprehensive earnings (loss), net of tax:        
Foreign currency translation, discontinued operations       78
Release of Canadian cumulative translation adjustment, discontinued operations [1]       (1,237)
Pension and postretirement plans 1 1 3 16
Other comprehensive earnings (loss), net of tax 1 1 3 (1,143)
Comprehensive earnings (loss): (89) 110 (2,570) (856)
Comprehensive earnings attributable to noncontrolling interests 2   5  
Comprehensive earnings (loss) attributable to Devon (91) 110 (2,575) (856)
Oil, Gas and NGL Sales [Member]        
Revenues 678 919 1,909 2,774
Marketing and Midstream Revenues [Member]        
Revenues 476 700 1,367 2,195
Marketing and Midstream Expenses [Member]        
Expenses $ 478 $ 684 $ 1,395 $ 2,147
[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.