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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-Based Compensation Expense Included in the Consolidated Statements of Comprehensive Earnings

The table below presents the share-based compensation expense included in Devon’s accompanying consolidated statements of comprehensive earnings.

		Year Ended December 31,
		2024				2023				2022
G&A		$	98			$	92			$	87
Exploration expenses			1				1				1
Total		$	99			$	93			$	88
Related income tax benefit		$	25			$	34			$	34

Summary of Unvested Restricted Stock Awards, Performance-Based Restricted Stock Awards and Performance Share Units

The following table presents a summary of Devon’s unvested restricted stock awards and units and performance share units granted under the plans.

		Restricted Stock Awards & Units								Performance Share Units
		Awards/Units				Weighted Average Grant-Date Fair Value				Units				Weighted Average Grant-Date Fair Value
		(Thousands, except fair value data)
Unvested at 12/31/23			4,033			$	42.10				1,547			$	43.25
Granted			1,997			$	42.34				858		(1)	$	40.41
Vested			(1,812	)		$	34.88				(1,226	)		$	18.08
Forfeited			(111	)		$	45.69				—			$	—
Unvested at 12/31/24			4,107			$	45.31				1,179		(2)	$	67.38

(1)These grants also include the impact of performance share units granted in prior year that vested higher than 100% target due to Devon's TSR performance compared to applicable peers.

(2)A maximum of 2.4 million common shares could be awarded based upon Devon’s final TSR ranking.

Schedule of Share Based Compensation Arrangement by Share Based Payment Award Aggregate Fair Value of Awards and Units

The following table presents the aggregate fair value of awards and units that vested during the indicated period.

		2024				2023				2022
Restricted Stock Awards and Units		$	82			$	172			$	180
Performance Share Units		$	52			$	66			$	62

Summary of Unrecognized Compensation Cost and Weighted Average Period for Recognition

The following table presents the unrecognized compensation cost and the related weighted average recognition period associated with unvested awards and units as of December 31, 2024.

		Restricted Stock				Performance
		Awards/Units				Share Units
Unrecognized compensation cost		$	102			$	19
Weighted average period for recognition (years)			2.5				1.7

Summary of Performance Share Units Grant-Date Fair Values and their Related Assumptions

The following table presents the assumptions related to performance share units granted.

		2024				2023				2022
Grant-date fair value		$	56.99			$	81.70			$	68.68
Risk-free interest rate			4.28	%			4.15	%			1.81	%
Volatility factor			46.03	%			61.43	%			70.1	%
Contractual term (years)			2.89				2.89				2.89

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Tabular disclosure of the aggregate fair value of Restricted Stock, Performance-based Restricted Stock and Performance Shares Units that vested during the period.

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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