$DVN
DEVON ENERGY CORP/DE

2023 Q2 Form 10-Q Financial Statement

#000095017023019312 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $3.454B $3.823B $4.299B
YoY Change -38.61% 0.29% 0.61%
Cost Of Revenue $1.770B $1.798B $1.946B
YoY Change -27.13% -7.42% 4.01%
Gross Profit $1.684B $2.025B $2.353B
YoY Change -47.33% 8.29% -2.04%
Gross Profit Margin 48.76% 52.97% 54.73%
Selling, General & Admin $92.00M $106.0M $122.0M
YoY Change 9.52% 12.77% 28.42%
% of Gross Profit 5.46% 5.23% 5.18%
Research & Development $10.00M $3.000M $13.00M
YoY Change 0.0% 50.0% 160.0%
% of Gross Profit 0.59% 0.15% 0.55%
Depreciation & Amortization $638.0M $615.0M $625.0M
YoY Change 20.83% 25.77% 8.32%
% of Gross Profit 37.89% 30.37% 26.56%
Operating Expenses $740.0M $724.0M $760.0M
YoY Change 18.97% 23.76% 12.26%
Operating Profit $944.0M $1.301B $1.593B
YoY Change -63.34% 1.25% -7.65%
Interest Expense -$81.00M -$72.00M -$77.00M
YoY Change -3.57% -15.29% -16.3%
% of Operating Profit -8.58% -5.53% -4.83%
Other Income/Expense, Net -$7.000M -$1.000M $8.000M
YoY Change 133.33% -101.15% 0.0%
Pretax Income $897.0M $1.224B $1.553B
YoY Change -64.05% -3.01% -6.56%
Income Tax $199.0M $221.0M $349.0M
% Of Pretax Income 22.19% 18.06% 22.47%
Net Earnings $687.0M $995.0M $1.194B
YoY Change -64.44% 0.61% -20.72%
Net Earnings / Revenue 19.89% 26.03% 27.77%
Basic Earnings Per Share $1.08 $1.53
Diluted Earnings Per Share $1.08 $1.53 $1.84
COMMON SHARES
Basic Shares Outstanding 641.7M 654.0M 653.7M
Diluted Shares Outstanding 639.0M 647.0M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $488.0M $887.0M $1.454B
YoY Change -85.88% -66.21% -35.98%
Cash & Equivalents $488.0M $761.0M $1.314B
Short-Term Investments
Other Short-Term Assets $397.0M $475.0M $469.0M
YoY Change -27.29% 37.28% 7.82%
Inventory $201.0M $212.0M $201.0M
Prepaid Expenses
Receivables $1.487B $1.615B $1.767B
Other Receivables $32.00M $36.00M $33.00M
Total Short-Term Assets $2.605B $3.189B $3.891B
YoY Change -58.98% -35.87% -8.43%
LONG-TERM ASSETS
Property, Plant & Equipment $19.03B $18.52B $18.11B
YoY Change 25.91% 22.83% 20.64%
Goodwill $753.0M $753.0M $753.0M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $675.0M $469.0M $440.0M
YoY Change 59.57% 12.74% 9.45%
Other Assets $293.0M $275.0M $307.0M
YoY Change -7.86% -17.42% -18.78%
Total Long-Term Assets $20.75B $20.23B $19.83B
YoY Change 23.2% 20.39% 18.2%
TOTAL ASSETS
Total Short-Term Assets $2.605B $3.189B $3.891B
Total Long-Term Assets $20.75B $20.23B $19.83B
Total Assets $23.36B $23.42B $23.72B
YoY Change 0.69% 7.54% 12.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $843.0M $935.0M $859.0M
YoY Change 26.2% 62.33% 71.8%
Accrued Expenses $10.00M $12.00M $13.00M
YoY Change -44.44% -20.0% -27.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $247.0M $251.0M
YoY Change
Long-Term Debt Due $258.0M $247.0M $251.0M
YoY Change 3125.0% 2987.5% 3037.5%
Total Short-Term Liabilities $2.669B $2.931B $3.105B
YoY Change -34.81% -21.92% 0.58%
LONG-TERM LIABILITIES
Long-Term Debt $6.464B $6.175B $6.189B
YoY Change 0.05% -4.57% -4.52%
Other Long-Term Liabilities $1.410B $866.0M $900.0M
YoY Change 48.58% -11.09% -14.29%
Total Long-Term Liabilities $7.874B $7.041B $7.089B
YoY Change 6.26% -5.43% -5.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.669B $2.931B $3.105B
Total Long-Term Liabilities $7.874B $7.041B $7.089B
Total Liabilities $12.33B $9.972B $10.19B
YoY Change 7.21% -10.96% -4.0%
SHAREHOLDERS EQUITY
Retained Earnings $4.940B $4.712B $4.297B
YoY Change 59.0% 134.08% 153.96%
Common Stock $64.00M $64.00M $65.00M
YoY Change -3.03% -3.03% -1.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.00M $0.00
YoY Change 47.37%
Treasury Stock Shares $600.0K
Shareholders Equity $11.02B $10.98B $11.17B
YoY Change
Total Liabilities & Shareholders Equity $23.36B $23.42B $23.72B
YoY Change 0.69% 7.54% 12.82%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $687.0M $995.0M $1.194B
YoY Change -64.44% 0.61% -20.72%
Depreciation, Depletion And Amortization $638.0M $615.0M $625.0M
YoY Change 20.83% 25.77% 8.32%
Cash From Operating Activities $1.405B $1.677B $1.911B
YoY Change -47.54% -8.71% 19.81%
INVESTING ACTIVITIES
Capital Expenditures $1.097B $1.025B $821.0M
YoY Change -263.0% -290.52% -259.42%
Acquisitions
YoY Change
Other Investing Activities -$5.000M -$8.000M -$8.000M
YoY Change -266.67% -166.67% 166.67%
Cash From Investing Activities -$1.102B -$1.033B -$829.0M
YoY Change 64.48% 96.39% 60.04%
FINANCING ACTIVITIES
Cash Dividend Paid $462.0M $596.0M $875.0M
YoY Change -44.34% -10.64% 57.94%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -704.0M -1.211B -940.0M
YoY Change -39.88% 26.28% -18.19%
NET CHANGE
Cash From Operating Activities 1.405B 1.677B 1.911B
Cash From Investing Activities -1.102B -1.033B -829.0M
Cash From Financing Activities -704.0M -1.211B -940.0M
Net Change In Cash -401.0M -567.0M 142.0M
YoY Change -148.2% -260.17% -297.22%
FREE CASH FLOW
Cash From Operating Activities $1.405B $1.677B $1.911B
Capital Expenditures $1.097B $1.025B $821.0M
Free Cash Flow $308.0M $652.0M $1.090B
YoY Change -90.81% -72.55% -48.34%

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AssetRetirementObligationsNoncurrent
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CY2023Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
27000000
CY2022Q1 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-35000000
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
596000000
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.89
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
667000000
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.00

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dvn-20230331_cal.xml Edgar Link unprocessable
0000950170-23-019312-index-headers.html Edgar Link pending
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