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Other, Net
 12 Months Ended
Dec. 31, 2024
Other Expenses [Abstract]  
Other, Net
5.
Other, Net

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

 

 

 

Year Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Estimated future obligation under a performance guarantee

 

$

(28

)

 

$

—

 

 

$

(144

)

Asset retirement obligation accretion

 

 

39

 

 

 

29

 

 

 

25

 

Restructuring & transaction costs

 

 

9

 

 

 

—

 

 

 

—

 

Other

 

 

76

 

 

 

9

 

 

 

24

 

Total

 

$

96

 

 

$

38

 

 

$

(95

)

 

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 2024, 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, 2024 and March 31, 2022, Devon reduced the estimated future exposure of the performance guarantee resulting in a $28 million and $144 million benefit, respectively.

Other is primarily comprised of accrued liabilities related to various royalty matters.