2021 Q4 Form 10-K Financial Statement

#000156459022005321 Filed on February 16, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021
Revenue $4.273B $3.801B $12.21B
YoY Change 233.83% 229.38% 152.82%
Cost Of Revenue $1.871B $1.720B $6.369B
YoY Change 590.41% 534.69% 467.14%
Gross Profit $2.402B $1.746B $5.837B
YoY Change 138.06% 119.35% 57.54%
Gross Profit Margin 56.21% 45.94% 47.82%
Selling, General & Admin $95.00M $95.00M $391.0M
YoY Change -86.43% -82.82% -83.37%
% of Gross Profit 3.96% 5.44% 6.7%
Research & Development $5.000M $3.000M $14.00M
YoY Change 25.0% -92.31% -91.62%
% of Gross Profit 0.21% 0.17% 0.24%
Depreciation & Amortization $577.0M $578.0M $2.158B
YoY Change 91.69% 93.31% 66.0%
% of Gross Profit 24.02% 33.1% 36.97%
Operating Expenses $677.0M $676.0M $2.563B
YoY Change -32.64% -24.13% -32.87%
Operating Profit $1.725B $1.070B $3.274B
YoY Change 43025.0% -1226.32% -2997.35%
Interest Expense -$92.00M -$92.00M -$329.0M
YoY Change 43.75% 39.39% 21.85%
% of Operating Profit -5.33% -8.6% -10.05%
Other Income/Expense, Net $8.000M $4.000M $70.00M
YoY Change -214.29% -166.67% 536.36%
Pretax Income $1.662B $964.0M $2.898B
YoY Change -1610.91% -599.48% -193.79%
Income Tax $150.0M $120.0M $65.00M
% Of Pretax Income 9.03% 12.45% 2.24%
Net Earnings $1.506B $838.0M $2.813B
YoY Change -1576.47% -1031.11% -205.32%
Net Earnings / Revenue 35.24% 22.05% 23.05%
Basic Earnings Per Share $1.24 $4.20
Diluted Earnings Per Share $2.275M $1.245M $4.19
COMMON SHARES
Basic Shares Outstanding 671.0M 663.0M
Diluted Shares Outstanding 673.0M 665.0M

Balance Sheet

Concept 2021 Q4 2021 Q3 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.271B $2.321B $2.271B
YoY Change 1.52% 35.97% 1.52%
Cash & Equivalents $2.271B $2.321B $2.271B
Short-Term Investments
Other Short-Term Assets $435.0M $309.0M $352.0M
YoY Change 75.4% -13.93% 41.94%
Inventory $114.0M
Prepaid Expenses
Receivables $1.543B $1.517B $1.505B
Other Receivables $121.0M $102.0M $121.0M
Total Short-Term Assets $4.249B $4.227B $4.249B
YoY Change 30.34% 21.57% 30.34%
LONG-TERM ASSETS
Property, Plant & Equipment $15.01B $15.32B $15.24B
YoY Change 178.29% 175.77% 171.42%
Goodwill $753.0M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $402.0M $388.0M $402.0M
YoY Change
Other Assets $378.0M $367.0M $378.0M
YoY Change 39.48% 57.51% 33.57%
Total Long-Term Assets $16.78B $16.83B $16.78B
YoY Change 152.19% 145.73% 152.19%
TOTAL ASSETS
Total Short-Term Assets $4.249B $4.227B $4.249B
Total Long-Term Assets $16.78B $16.83B $16.78B
Total Assets $21.03B $21.06B $21.03B
YoY Change 112.12% 103.92% 112.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $500.0M $537.0M $500.0M
YoY Change 106.61% 29.4% 106.61%
Accrued Expenses $18.00M $20.00M $18.00M
YoY Change 1700.0% 1900.0% 1700.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.000M $8.000M $8.000M
YoY Change 0.0% 14.29% 0.0%
Total Short-Term Liabilities $3.087B $3.505B $3.087B
YoY Change 114.38% 105.09% 114.38%
LONG-TERM LIABILITIES
Long-Term Debt $6.482B $6.492B $6.729B
YoY Change 50.81% 51.08% 48.15%
Other Long-Term Liabilities $1.050B $1.281B $1.523B
YoY Change 90.56% 244.35% 67.18%
Total Long-Term Liabilities $7.532B $7.773B $8.252B
YoY Change 55.33% 66.48% 51.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.087B $3.505B $3.087B
Total Long-Term Liabilities $7.532B $7.773B $8.252B
Total Liabilities $10.62B $12.13B $11.76B
YoY Change 68.85% 90.23% 67.4%
SHAREHOLDERS EQUITY
Retained Earnings $1.692B $750.0M
YoY Change 713.46% 113.68%
Common Stock $66.00M $68.00M
YoY Change 73.68% 78.95%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $9.262B $8.924B $9.262B
YoY Change
Total Liabilities & Shareholders Equity $21.03B $21.06B $21.03B
YoY Change 112.12% 103.92% 112.12%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021
OPERATING ACTIVITIES
Net Income $1.506B $838.0M $2.813B
YoY Change -1576.47% -1031.11% -205.32%
Depreciation, Depletion And Amortization $577.0M $578.0M $2.158B
YoY Change 91.69% 93.31% 66.0%
Cash From Operating Activities $1.595B $1.583B $4.899B
YoY Change 323.08% 235.38% 261.82%
INVESTING ACTIVITIES
Capital Expenditures -$515.0M $474.0M -$2.007B
YoY Change 134.09% 132.35% 72.87%
Acquisitions
YoY Change
Other Investing Activities -$3.000M $10.00M $433.0M
YoY Change -100.95% 400.0% -15.92%
Cash From Investing Activities -$518.0M -$474.0M -$1.574B
YoY Change -645.26% 134.65% 143.65%
FINANCING ACTIVITIES
Cash Dividend Paid $554.0M $329.0M $1.315B
YoY Change 301.45% 665.12% 411.67%
Common Stock Issuance & Retirement, Net $589.0M
YoY Change
Debt Paid & Issued, Net $0.00 $1.243B
YoY Change
Cash From Financing Activities -1.149B -337.0M -3.292B
YoY Change 757.46% 632.61% 975.82%
NET CHANGE
Cash From Operating Activities 1.595B 1.583B 4.899B
Cash From Investing Activities -518.0M -474.0M -1.574B
Cash From Financing Activities -1.149B -337.0M -3.292B
Net Change In Cash -72.00M 772.0M 33.00M
YoY Change -121.3% 244.64% -91.6%
FREE CASH FLOW
Cash From Operating Activities $1.595B $1.583B $4.899B
Capital Expenditures -$515.0M $474.0M -$2.007B
Free Cash Flow $2.110B $1.109B $6.906B
YoY Change 253.43% 313.81% 174.59%

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AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
116000000
CY2019 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
116000000
CY2020 us-gaap Profit Loss
ProfitLoss
-2671000000
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8000000
CY2020 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
57000000
CY2020 us-gaap Dividends Common Stock
DividendsCommonStock
260000000
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
88000000
CY2020 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
21000000
CY2020 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
14000000
CY2021 us-gaap Dividends Common Stock
DividendsCommonStock
1329000000
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5432000000
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
99000000
CY2021 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
3000000
CY2021 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
20000000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9399000000
CY2021Q4 us-gaap Investments
Investments
402000000
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from these estimates, and changes in these estimates are recorded when known. Significant items subject to such estimates and assumptions include the following:</p> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">proved reserves and related present value of future net revenues;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">evaluation of suspended well costs;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">the carrying and fair values of oil and gas properties, other property and equipment and product and equipment inventories;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">derivative financial instruments;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">the fair value of reporting units and related assessment of goodwill for impairment;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">income taxes;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">asset retirement obligations;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">obligations related to employee pension and postretirement benefits;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">purchase accounting estimates used for assets acquired and liabilities assumed;</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">legal and environmental risks and exposures; and</span></p></td></tr></table></div> <div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"> </p></td> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"><span style="font-weight:normal;font-style:normal;text-decoration:none;Background-color:#auto;color:#auto;font-size:10pt;font-family:'Times New Roman';text-transform:none;font-variant: normal;letter-spacing:0pt;"/><span style="font-size:10pt;font-family:'Times New Roman'">•</span></p></td> <td valign="top"> <p style="text-align:left;margin-bottom:0pt;margin-top:6pt;font-weight:normal;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:10pt;"><span style="Background-color:#auto;text-decoration:none;"/><span style="color:#000000;"/><span style="color:#000000;">general credit risk associated with receivables and other assets.</span></p></td></tr></table></div>
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13750000000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4673000000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6674000000
CY2021 dvn Number Of Customers Accounted For More Than Ten Percentage Of Revenue
NumberOfCustomersAccountedForMoreThanTenPercentageOfRevenue
2
CY2019 dvn Number Of Customers Accounted For More Than Ten Percentage Of Revenue
NumberOfCustomersAccountedForMoreThanTenPercentageOfRevenue
0
CY2021Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0
CY2021Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Deferred Revenue
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue
223000000
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q1 dvn Percentage Of Common Stock Decreased
PercentageOfCommonStockDecreased
0.73
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
454000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
3562000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Capital Lease Obligation
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38000000
CY2021Q1 dvn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Asset Retirement Obligations
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetRetirementObligations
94000000
CY2021Q1 dvn Business Combination Consideration Transferred Exchange Ratio
BusinessCombinationConsiderationTransferredExchangeRatio
0.5165
CY2021Q1 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
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5383000000
CY2021Q1 dvn Business Combination Consideration Transferred Share Based Replacement Awards
BusinessCombinationConsiderationTransferredShareBasedReplacementAwards
49000000
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249000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
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765000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
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5731000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
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5432000000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
88000000
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
115000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
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425000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
49000000
CY2021Q1 dvn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Right Of Use Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightOfUseAssets
38000000
CY2021Q1 dvn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Proved Oil And Gas Property And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedProvedOilAndGasPropertyAndEquipment
7017000000
CY2021Q1 dvn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Unproved And Properties Under Development Oil And Gas
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2362000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
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485000000
CY2021Q1 dvn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Investments
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400000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Noncurrent Assets
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43000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Assets
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11163000000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
346000000
CY2021Q4 dvn Derivative Gross Fair Value
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-569000000
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-569000000
CY2020Q4 dvn Derivative Gross Fair Value
DerivativeGrossFairValue
-142000000
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-142000000
CY2021 us-gaap Allocated Share Based Compensation Expense
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99000000
CY2021 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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2813000000
CY2020 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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-2552000000
CY2019 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-81000000
CY2021 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
30000000
CY2020 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
4000000
CY2019 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2000000
CY2021 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
2783000000
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