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Reportable Segments | 6 Months Ended
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Jun. 30, 2025
Segment Reporting Information, Revenue for Reportable Segment [Abstract] |
Reportable Segments | Reportable Segments Devon is a leading independent energy company engaged primarily in the exploration, development and production of oil, natural gas and NGLs. Devon’s oil and gas exploration and production activities are solely focused in the U.S. For financial reporting purposes, Devon aggregates its U.S. operating segments into one reporting segment due to the similar nature of these operations. Devon’s chief operating decision maker is the executive committee, which includes the chief executive officer, chief operating officers and chief financial officer. To assess the performance of our assets, we use net earnings. We believe net earnings provides information useful in assessing our operating and financial performance across periods. The following table reflects Devon's net earnings, assets and capital expenditures for the time periods presented below.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Total revenues |  | $ | 4,284 |  |  | $ | 3,917 |  |  | $ | 8,736 |  |  | $ | 7,513 |
LOE |  |  | 483 |  |  |  | 383 |  |  |  | 962 |  |  |  | 763 |
Gathering, processing & transportation |  |  | 219 |  |  |  | 197 |  |  |  | 423 |  |  |  | 377 |
Production and property taxes |  |  | 197 |  |  |  | 208 |  |  |  | 426 |  |  |  | 399 |
Total significant expenses |  |  | 899 |  |  |  | 788 |  |  |  | 1,811 |  |  |  | 1,539 |
Marketing and midstream expenses |  |  | 1,357 |  |  |  | 1,108 |  |  |  | 2,793 |  |  |  | 2,241 |
DD&A |  |  | 914 |  |  |  | 768 |  |  |  | 1,826 |  |  |  | 1,490 |
G&A |  |  | 113 |  |  |  | 114 |  |  |  | 243 |  |  |  | 228 |
Financing costs, net |  |  | 116 |  |  |  | 76 |  |  |  | 239 |  |  |  | 152 |
Income tax expense |  |  | 244 |  |  |  | 185 |  |  |  | 381 |  |  |  | 344 |
Other segment items (1) |  |  | (276 | ) |  |  | 23 |  |  |  | 17 |  |  |  | 55 |
Total expenses |  |  | 3,367 |  |  |  | 3,062 |  |  |  | 7,310 |  |  |  | 6,049 |
Net earnings |  | $ | 917 |  |  | $ | 855 |  |  | $ | 1,426 |  |  | $ | 1,464 |
Total assets |  | $ | 31,390 |  |  | $ | 25,162 |  |  | $ | 31,390 |  |  | $ | 25,162 |
Capital expenditures, including acquisitions |  | $ | 948 |  |  | $ | 971 |  |  | $ | 1,920 |  |  | $ | 1,916 |
(1) Other segment items included in segment net earnings are exploration expenses, asset impairments, asset dispositions and other, net.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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