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Other, Net
12 Months Ended
Dec. 31, 2023
Other Expenses [Abstract]  
Other, Net
6.
Other, Net

The following table summarizes Devon’s other expenses (income) presented in the accompanying consolidated comprehensive statements of earnings.

 

 

 

Year Ended December 31,

 

 

2023

 

 

2022

 

 

2021

 

Estimated future obligation under a performance guarantee

 

$

 

 

$

(144

)

 

$

(18

)

Ukraine charitable pledge

 

 

 

 

 

20

 

 

 

 

Asset retirement obligation accretion

 

 

29

 

 

 

25

 

 

 

28

 

Severance and other non-income tax refunds

 

 

 

 

 

(5

)

 

 

(39

)

Other

 

 

9

 

 

 

9

 

 

 

(14

)

Total

 

$

38

 

 

$

(95

)

 

$

(43

)

Devon has guaranteed performance through 2026 for a minimum volume commitment associated with assets divested in 2018. Due to improved commodity prices, market conditions, and performance by the purchaser of the assets, the purchaser was able to fully satisfy the performance obligation due in 2023 and 2022, as well as reimburse Devon for shortfall payments previously made on the purchasers’ behalf in 2021 and 2020. Additionally, at March 31, 2022, Devon reduced the estimated future exposure of the performance guarantee. The effect of these cash collections and liability revisions resulted in a $144 million benefit in 2022.

During 2022, Devon paid approximately $20 million for humanitarian relief for the Ukrainian people and surrounding countries supporting refugees.

During 2022 and 2021, Devon received severance and other non-income tax refunds of $5 million and $39 million, respectively, related to prior periods.