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Asset Impairments | 9 Months Ended
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Sep. 30, 2021
Asset Impairment Charges [Abstract] |
Asset Impairments | 5.Asset Impairments The following table presents a summary of Devon’s asset impairments. Unproved impairments shown below are included in exploration expenses in the consolidated statements of comprehensive earnings.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Proved oil and gas assets |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,664 |
Other assets |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |
Total asset impairments |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,666 |
Unproved impairments |  | $ | 1 |  |  | $ | 36 |  |  | $ | 3 |  |  | $ | 149 |
Proved Oil and Gas and Other Asset Impairments Due to the reduced demand from the COVID-19 pandemic causing an unprecedented downturn in the price of oil and reductions in near-term capital investment, Devon recognized approximately $2.7 billion of proved asset impairments during the first quarter of 2020. These impairments related to the Anadarko Basin and Rockies fields in which the cost basis included acquisitions completed in 2016 and 2015, respectively, when commodity prices were much higher. During the first quarter of 2020, Devon also recognized $2 million of product line fill impairments. Unproved Impairments Due to the downturn in the commodity price environment and reduced near-term investment as discussed above, Devon also recognized $149 million of unproved impairments during the first nine months of 2020, primarily in the Rockies field.

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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