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Debt And Related Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule Of Debt Instruments and Balances

See below for a summary of debt instruments and balances. The notes and debentures are senior, unsecured obligations of Devon.

		December 31, 2020				December 31, 2019
5.85% due December 15, 2025		$	485			$	485
7.50% due September 15, 2027 (1)			73				73
7.875% due September 30, 2031			675				675
7.95% due April 15, 2032			366				366
5.60% due July 15, 2041			1,250				1,250
4.75% due May 15, 2042			750				750
5.00% due June 15, 2045			750				750
Net discount on debentures and notes			(20	)			(20	)
Debt issuance costs			(31	)			(35	)
Total long-term debt		$	4,298			$	4,294

(1) This instrument was assumed by Devon in April 2003 in conjunction with the merger with Ocean Energy. The fair value and effective rates of this note at the time assumed was $169 million and 6.5%. This instrument is the unsecured and unsubordinated obligation of Devon OEI Operating, L.L.C. and is guaranteed by Devon Energy Production Company, L.P. Each of these entities is a wholly-owned subsidiary of Devon. 

Schedule of Debt Maturities

Debt maturities as of December 31, 2020, excluding debt issuance costs, premiums and discounts, are as follows:

		Total
2021		$	—
2022			—
2023			—
2024			—
2025			485
Thereafter			3,864
Total		$	4,349

Schedule Of Net Financing Cost Components

The following schedule includes the components of net financing costs.

		Year Ended December 31,
		2020				2019				2018
Interest based on debt outstanding		$	259			$	260			$	287
Early retirement of debt			—				—				312
Interest income			(12	)			(33	)			(32	)
Other			23				23				13
Total net financing costs		$	270			$	250			$	580

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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