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Earnings per Share (Tables) | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Calculation of Basic and Diluted Weighted-Average Shares Outstanding | The following is a calculation of basic and diluted earnings per share under the two-class method:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
(In millions, except per share amounts) |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |
Income (Numerator) |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 323 |  |  | $ | 1,196 |  |  | $ | 1,209 |  |  | $ | 3,033 |  |  |  |  |
Less: dividends attributable to participating securities |  | (1) |  |  | (2) |  |  | (4) |  |  | (5) |  |  |  |  |
Less: Cimarex redeemable preferred stock dividends |  | — |  |  | — |  |  | — |  |  | (1) |  |  |  |  |
Net income available to common stockholders |  | $ | 322 |  |  | $ | 1,194 |  |  | $ | 1,205 |  |  | $ | 3,027 |  |  |  |  |
Shares (Denominator) |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares - Basic |  | 753 |  |  | 792 |  |  | 757 |  |  | 801 |  |  |  |  |
Dilution effect of stock awards at end of period |  | 5 |  |  | 5 |  |  | 5 |  |  | 4 |  |  |  |  |
Weighted average shares - Diluted |  | 758 |  |  | 797 |  |  | 762 |  |  | 805 |  |  |  |  |
Earnings per share |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.43 |  |  | $ | 1.51 |  |  | $ | 1.59 |  |  | $ | 3.78 |  |  |  |  |
Diluted |  | $ | 0.42 |  |  | $ | 1.50 |  |  | $ | 1.58 |  |  | $ | 3.77 |  |  |  |  |
Calculation of Weighted-average Shares Excluded from Diluted EPS Due to the Anti-Dilutive Effect | The following is a calculation of weighted-average shares excluded from diluted EPS due to anti-dilutive effect:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
(In millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |
Weighted-average stock awards excluded from diluted EPS due to the anti-dilutive effect calculated using the treasury stock method |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  |  |  |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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