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Quarterly Results (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2016
Quarterly Results (Unaudited) |
Schedule of Quarterly Financial Data (Unaudited) |
|  | Three months ended |
|  | March 31, |  | June 30, |  | September 30, |  | December 31, |
|  | (In millions, except per share data) |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 1,341 |  | $ | 940 |  | $ | 906 |  | $ | 974 |
Operating income (a) |  |  | 424 |  |  | 163 |  |  | 229 |  |  | 316 |
Income from continuing operations (a) |  |  | 242 |  |  | 92 |  |  | 236 |  |  | 257 |
Net income (a) |  |  | 241 |  |  | 93 |  |  | 236 |  |  | 257 |
Net income attributable to controlling interest (a) |  |  | 235 |  |  | 82 |  |  | 218 |  |  | 243 |
Per share earnings from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.64 |  | $ | 0.22 |  | $ | 0.59 |  | $ | 0.64 |
Diluted |  | $ | 0.64 |  | $ | 0.22 |  | $ | 0.59 |  | $ | 0.64 |
Weighted-average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 364 |  |  | 365 |  |  | 365 |  |  | 371 |
Diluted |  |  | 364 |  |  | 365 |  |  | 365 |  |  | 371 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 2,043 |  | $ | 1,884 |  | $ | 1,608 |  | $ | 1,851 |
Operating income (loss) (b) |  |  | (327) |  |  | 493 |  |  | 457 |  |  | 742 |
Income (loss) from continuing operations (b) |  |  | (459) |  |  | 340 |  |  | 392 |  |  | 622 |
Net income (loss) (b) |  |  | (461) |  |  | 341 |  |  | 395 |  |  | 622 |
Net income (loss) attributable to controlling interest (b) |  |  | (472) |  |  | 335 |  |  | 386 |  |  | 616 |
Per share earnings (loss) from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (1.30) |  | $ | 0.91 |  | $ | 1.06 |  | $ | 1.68 |
Diluted |  | $ | (1.30) |  | $ | 0.91 |  | $ | 1.06 |  | $ | 1.68 |
Weighted-average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 363 |  |  | 363 |  |  | 364 |  |  | 364 |
Diluted |  |  | 363 |  |  | 363 |  |  | 364 |  |  | 364 |
| (a) |  | First quarter, second quarter, third quarter and fourth quarter included an aggregate loss $41 million associated with the impairment of certain drilling units classified as assets held for sale. Fourth quarter included a loss of $52 million associated with the impairment of our deepwater asset group. Fourth quarter included income of $30 million associated with recoveries of previously incurred costs associated with the Macondo well incident. Second quarter and third quarter included a gain of $38 million and $110 million, respectively, associated with the retirement of debt. See Note 6—Impairments, Note 11—Debt and Note 13—Commitments and Contingencies.
First quarter, second quarter, third quarter and fourth quarter included an aggregate loss of $700 million associated with the impairment of certain drilling units classified as assets held for sale. First quarter and second quarter included a loss of $507 million and $668 million, respectively, associated with the impairment of our deepwater asset group and midwater asset group, respectively. Second quarter included income of $788 million associated with recoveries of previously incurred costs associated with the Macondo well incident. Third quarter and fourth quarter included an aggregate net gain of $23 million associated with the retirement of debt. See Note 6—Impairments, Note 11—Debt and Note 13—Commitments and Contingencies.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 + Details
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