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Retirement Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract] |
Schedule Of Changes In Defined Benefit Plan Obligations |
|  | Pension Benefits |  |  | Postretirement Benefits |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 924 |  |  | $ | 916 |  |  | $ | 14 |  |  | $ | 17 |
Service cost |  |  | 5 |  |  |  | 7 |  |  |  | — |  |  |  | — |
Interest cost |  |  | 25 |  |  |  | 32 |  |  |  | — |  |  |  | — |
Actuarial loss (gain) |  |  | 116 |  |  |  | 91 |  |  |  | (1 | ) |  |  | (3 | )
Plan amendments |  |  | 2 |  |  |  | 3 |  |  |  | — |  |  |  | — |
Plan curtailments |  |  | (14 | ) |  |  | (3 | ) |  |  | 1 |  |  |  | 1 |
Plan settlements |  |  | (28 | ) |  |  | (75 | ) |  |  | — |  |  |  | — |
Participant contributions |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 2 |
Benefits paid |  |  | (49 | ) |  |  | (47 | ) |  |  | (3 | ) |  |  | (3 | )
Benefit obligation at end of year |  |  | 981 |  |  |  | 924 |  |  |  | 13 |  |  |  | 14 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  | 694 |  |  |  | 685 |  |  |  | — |  |  |  | — |
Actual return on plan assets |  |  | 114 |  |  |  | 118 |  |  |  | — |  |  |  | — |
Employer contributions |  |  | 14 |  |  |  | 13 |  |  |  | 1 |  |  |  | 1 |
Participant contributions |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 2 |
Plan settlements |  |  | (28 | ) |  |  | (75 | ) |  |  | — |  |  |  | — |
Benefits paid |  |  | (49 | ) |  |  | (47 | ) |  |  | (3 | ) |  |  | (3 | )
Fair value of plan assets at end of year |  |  | 745 |  |  |  | 694 |  |  |  | — |  |  |  | — |
Funded status at end of year |  | $ | (236 | ) |  | $ | (230 | ) |  | $ | (13 | ) |  | $ | (14 | )
Amounts recognized in balance sheet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other long-term assets |  | $ | 10 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other current liabilities |  |  | (14 | ) |  |  | (13 | ) |  |  | (2 | ) |  |  | (2 | )
Other long-term liabilities |  |  | (232 | ) |  |  | (217 | ) |  |  | (11 | ) |  |  | (12 | )
Net amount |  | $ | (236 | ) |  | $ | (230 | ) |  | $ | (13 | ) |  | $ | (14 | )
Amounts recognized in accumulated other comprehensive earnings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net actuarial loss (gain) |  | $ | 201 |  |  | $ | 183 |  |  | $ | (12 | ) |  | $ | (12 | )
Prior service cost (credit) |  |  | — |  |  |  | 5 |  |  |  | — |  |  |  | (1 | )
Total |  | $ | 201 |  |  | $ | 188 |  |  | $ | (12 | ) |  | $ | (13 | )
Schedule Of Projected Benefit Obligation And Accumulated Benefit Obligation In Excess Of Plan Assets | Certain of Devon’s pension plans have a combined projected benefit obligation or accumulated benefit obligation in excess of plan assets at December 31, 2020 and December 31, 2019, as presented in the table below.
|  | December 31, |
|  | 2020 |  |  | 2019 |
Projected benefit obligation |  | $ | 246 |  |  | $ | 924 |
Accumulated benefit obligation (1) |  | $ | 246 |  |  | $ | 223 |
Fair value of plan assets |  | $ | — |  |  | $ | 694 |
(1) | The projected and accumulated benefit obligation for the qualified pension plan was not in excess of plan assets as of December 31, 2020. The 2019 qualified pension plan contained $690 million of accumulated benefit obligations which were not in excess of plan assets.
Schedule Of Net Periodic Benefit Cost And Other Comprehensive Loss (Earnings) For Pension And Postretirement Benefit Plans |
|  | Pension Benefits |  |  | Postretirement Benefits |
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 5 |  |  | $ | 7 |  |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost |  |  | 25 |  |  |  | 32 |  |  |  | 38 |  |  |  | — |  |  |  | — |  |  |  | — |
Expected return on plan assets |  |  | (41 | ) |  |  | (38 | ) |  |  | (48 | ) |  |  | — |  |  |  | — |  |  |  | — |
Recognition of net actuarial loss (gain) (1) |  |  | 5 |  |  |  | 7 |  |  |  | 13 |  |  |  | — |  |  |  | (1 | ) |  |  | (1 | )
Recognition of prior service cost (1) |  |  | 3 |  |  |  | 1 |  |  |  | 1 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Total net periodic benefit cost (2) |  |  | (3 | ) |  |  | 9 |  |  |  | 13 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | (2 | )
Other comprehensive loss (earnings): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Actuarial loss (gain) arising in current year |  |  | 27 |  |  |  | 7 |  |  |  | 5 |  |  |  | (1 | ) |  |  | (2 | ) |  |  | (1 | )
Prior service cost arising in current year |  |  | 2 |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Recognition of net actuarial gain (loss), including settlement expense, in net periodic benefit cost (3) |  |  | (9 | ) |  |  | (22 | ) |  |  | (59 | ) |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Recognition of prior service cost, including curtailment, in net periodic benefit cost (3) |  |  | (7 | ) |  |  | (2 | ) |  |  | (2 | ) |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Total other comprehensive loss (earnings) |  |  | 13 |  |  |  | (14 | ) |  |  | (56 | ) |  |  | 1 |  |  |  | — |  |  |  | 1 |
Total |  | $ | 10 |  |  | $ | (5 | ) |  | $ | (43 | ) |  | $ | — |  |  | $ | (2 | ) |  | $ | (1 | )
(1) | These net periodic benefit costs were reclassified out of other comprehensive earnings in the current period.
(2) | The service cost component of net periodic benefit cost is included in G&A expense and the remaining components of net periodic benefit costs are included in other expenses in the accompanying consolidated statements of comprehensive earnings.
(3) | These amounts include restructuring costs that were reclassified out of other comprehensive earnings in 2020, 2019 and 2018. See Note 6 for further discussion.
Schedule Of Assumptions Used To Determine Benefit Obligations And Net Periodic Benefit Cost |
|  | Pension Benefits |  |  | Postretirement Benefits |
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Assumptions to determine benefit obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  | 2.38% |  |  | 3.14% |  |  | 4.09% |  |  | 1.82% |  |  | 2.81% |  |  | 4.01% |
Rate of compensation increase |  | 2.50% |  |  | 2.50% |  |  | 2.50% |  |  | N/A |  |  | N/A |  |  | N/A |
Assumptions to determine net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate - service cost |  | 3.47% |  |  | 3.74% |  |  | 3.77% |  |  | 3.25% |  |  | 3.99% |  |  | 4.13% |
Discount rate - interest cost |  | 2.75% |  |  | 3.36% |  |  | 3.14% |  |  | 2.31% |  |  | 3.21% |  |  | 2.67% |
Rate of compensation increase |  | 2.50% |  |  | 2.50% |  |  | 2.50% |  |  | N/A |  |  | N/A |  |  | N/A |
Expected return on plan assets |  | 6.00% |  |  | 5.75% |  |  | 5.75% |  |  | N/A |  |  | N/A |  |  | N/A |

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- Definition Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2417-114920 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921 + Details
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