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10-Q Filing

DEVON ENERGY CORP/DE CIK: 1090012 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000950170-22-007007
Period End Date 20220331
Filing Date 20220503
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance dvn-20220331_htm.xml
Filing Contents
Balance Sheet 73 line items
Line Item Tag Value Unit Period
Cash, cash equivalents and restricted cash RestrictedCashAndCashEquivalents $2.27B USD Point-in-time
Cash, cash equivalents and restricted cash RestrictedCashAndCashEquivalents $2.62B USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $2.00B USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $1.54B USD Point-in-time
Other current assets OtherAssetsCurrent $346.00M USD Point-in-time
Other current assets OtherAssetsCurrent $435.00M USD Point-in-time
Total current assets AssetsCurrent $4.25B USD Point-in-time
Total current assets AssetsCurrent $4.97B USD Point-in-time
Oil and gas property and equipment, based on successful efforts accounting, net OilAndGasPropertySuccessfulEffortMethodNet $13.57B USD Point-in-time
Other property and equipment, net PropertyPlantAndEquipmentOtherNet $1.51B USD Point-in-time
Oil and gas property and equipment, based on successful efforts accounting, net OilAndGasPropertySuccessfulEffortMethodNet $13.54B USD Point-in-time
Other property and equipment, net PropertyPlantAndEquipmentOtherNet $1.47B USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Other property and equipment, net ($119 million and $111 million related to CDM in 2022 and 2021, respectively) PropertyPlantAndEquipmentOtherNet $1.51B USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Other property and equipment, net ($119 million and $111 million related to CDM in 2022 and 2021, respectively) PropertyPlantAndEquipmentOtherNet $1.47B USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 1.00B shares Point-in-time
Total property and equipment, net PropertyPlantAndEquipmentNet $15.01B USD Point-in-time
Common stock, shares authorized (in shares) CommonStockSharesAuthorized 1.00B shares Point-in-time
Total property and equipment, net PropertyPlantAndEquipmentNet $15.07B USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 663.00M shares Point-in-time
Goodwill Goodwill $753.00M USD Point-in-time
Goodwill Goodwill $753.00M USD Point-in-time
Common stock, shares issued (in shares) CommonStockSharesIssued 661.00M shares Point-in-time
Right-of-use assets RightOfUseAssetsNoncurrent $235.00M USD Point-in-time
Treasury Stock, Shares TreasuryStockShares 300,000.00 shares Point-in-time
Right-of-use assets RightOfUseAssetsNoncurrent $229.00M USD Point-in-time
Investments Investments $402.00M USD Point-in-time
Investments Investments $416.00M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $378.00M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $333.00M USD Point-in-time
Total assets Assets $21.78B USD Point-in-time
Total assets Assets $21.02B USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $500.00M USD Point-in-time
Accounts payable AccountsPayableTradeCurrent $576.00M USD Point-in-time
Revenues and royalties payable OilAndGasSalesPayableCurrent $1.67B USD Point-in-time
Revenues and royalties payable OilAndGasSalesPayableCurrent $1.46B USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $1.13B USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $1.51B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.75B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.09B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $6.47B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $6.48B USD Point-in-time
Lease liabilities LeaseLiabilitiesNoncurrent $251.00M USD Point-in-time
Lease liabilities LeaseLiabilitiesNoncurrent $252.00M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $455.00M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $468.00M USD Point-in-time
Asset retirement obligations AssetRetirementObligationsNoncurrent $443.00M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.05B USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $974.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent $287.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent $450.00M USD Point-in-time
Common stock, $0.10 par value. Authorized 1.0 billion shares; issued 661 million and 663 million shares in 2022 and 2021, respectively CommonStockValue $66.00M USD Point-in-time
Common stock, $0.10 par value. Authorized 1.0 billion shares; issued 661 million and 663 million shares in 2022 and 2021, respectively CommonStockValue $66.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $7.37B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $7.64B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.69B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.01B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-104.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-132.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-131.00M USD Point-in-time
Treasury stock value TreasuryStockValue - USD Point-in-time
Treasury stock value TreasuryStockValue $19.00M USD Point-in-time
Total stockholders equity attributable to Devon StockholdersEquity $9.26B USD Point-in-time
Total stockholders equity attributable to Devon StockholdersEquity $9.30B USD Point-in-time
Noncontrolling interests MinorityInterest $135.00M USD Point-in-time
Noncontrolling interests MinorityInterest $137.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.02B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.40B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.44B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.49B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $21.02B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $21.78B USD Point-in-time
Income Statement 50 line items
Line Item Tag Value Unit Period
Revenues from contracts with customers RevenueFromContractWithCustomerExcludingAssessedTax $4.50B USD 1 Quarter
Revenues from contracts with customers RevenueFromContractWithCustomerExcludingAssessedTax $2.58B USD 1 Quarter
Oil, gas and NGL derivatives GainLossOnOilAndGasHedgingActivity $-528.00M USD 1 Quarter
Oil, gas and NGL derivatives GainLossOnOilAndGasHedgingActivity $-683.00M USD 1 Quarter
Total revenues Revenues $3.81B USD 1 Quarter
Total revenues Revenues $2.05B USD 1 Quarter
Production expenses ResultsOfOperationsProductionOrLiftingCosts $618.00M USD 1 Quarter
Production expenses ResultsOfOperationsProductionOrLiftingCosts $458.00M USD 1 Quarter
Exploration expenses ExplorationExpense $2.00M USD 1 Quarter
Exploration expenses ExplorationExpense $3.00M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $467.00M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $489.00M USD 1 Quarter
Asset dispositions GainLossOnDispositionOfAssets1 $1.00M USD 1 Quarter
Asset dispositions GainLossOnDispositionOfAssets1 $32.00M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $94.00M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $107.00M USD 1 Quarter
Financing costs, net InterestIncomeExpenseNonoperatingNet $-77.00M USD 1 Quarter
Financing costs, net InterestIncomeExpenseNonoperatingNet $-85.00M USD 1 Quarter
Restructuring and transaction costs RestructuringCharges - USD 1 Quarter
Restructuring and transaction costs RestructuringCharges $189.00M USD 1 Quarter
Other, net OperatingAndNonoperatingOtherIncomeExpense $61.00M USD 1 Quarter
Other, net OperatingAndNonoperatingOtherIncomeExpense $29.00M USD 1 Quarter
Total expenses TotalExpenses $2.08B USD 1 Quarter
Total expenses TotalExpenses $2.55B USD 1 Quarter
Earnings (loss) before income taxes IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest $-32.00M USD 1 Quarter
Earnings (loss) before income taxes IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest $1.26B USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-248.00M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $267.00M USD 1 Quarter
Net earnings (loss) ProfitLoss $995.00M USD 1 Quarter
Net earnings (loss) ProfitLoss $216.00M USD 1 Quarter
Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $3.00M USD 1 Quarter
Net earnings attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $6.00M USD 1 Quarter
Net earnings (loss) attributable to Devon NetIncomeLoss $213.00M USD 1 Quarter
Net earnings (loss) attributable to Devon NetIncomeLoss $989.00M USD 1 Quarter
Basic net earnings per share: EarningsPerShareBasic $0.33 USD 1 Quarter
Basic net earnings per share: EarningsPerShareBasic $1.48 USD 1 Quarter
Diluted net earnings per share: EarningsPerShareDiluted $1.48 USD 1 Quarter
Diluted net earnings per share: EarningsPerShareDiluted $0.32 USD 1 Quarter
Net earnings ProfitLoss $995.00M USD 1 Quarter
Net earnings ProfitLoss $216.00M USD 1 Quarter
Pension and postretirement plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.00M USD 1 Quarter
Pension and postretirement plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-23.00M USD 1 Quarter
Other comprehensive earnings, net of tax OtherComprehensiveIncomeLossNetOfTax $1.00M USD 1 Quarter
Other comprehensive earnings, net of tax OtherComprehensiveIncomeLossNetOfTax $23.00M USD 1 Quarter
Comprehensive earnings: ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $239.00M USD 1 Quarter
Comprehensive earnings: ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $996.00M USD 1 Quarter
Comprehensive earnings attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $6.00M USD 1 Quarter
Comprehensive earnings attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $3.00M USD 1 Quarter
Comprehensive earnings attributable to Devon ComprehensiveIncomeNetOfTax $236.00M USD 1 Quarter
Comprehensive earnings attributable to Devon ComprehensiveIncomeNetOfTax $990.00M USD 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net earnings ProfitLoss $995.00M USD 1 Quarter
Net earnings ProfitLoss $216.00M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $467.00M USD 1 Quarter
Depreciation, depletion and amortization DepreciationDepletionAndAmortization $489.00M USD 1 Quarter
Leasehold impairments ImpairmentOfLeasehold $1.00M USD 1 Quarter
Leasehold impairments ImpairmentOfLeasehold $1.00M USD 1 Quarter
Amortization of liabilities AmortizationOfDebtDiscountPremium $-7.00M USD 1 Quarter
Amortization of liabilities AmortizationOfDebtDiscountPremium $-6.00M USD 1 Quarter
Total losses on commodity derivatives GainLossOnOilAndGasHedgingActivity $-528.00M USD 1 Quarter
Total losses on commodity derivatives GainLossOnOilAndGasHedgingActivity $-683.00M USD 1 Quarter
Cash settlements on commodity derivatives CashSettlementsOnCommodityDerivatives $344.00M USD 1 Quarter
Cash settlements on commodity derivatives CashSettlementsOnCommodityDerivatives $232.00M USD 1 Quarter
Gains on asset dispositions GainLossOnSaleOfPropertyPlantEquipment $32.00M USD 1 Quarter
Gains on asset dispositions GainLossOnSaleOfPropertyPlantEquipment $1.00M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $-243.00M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $164.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $41.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $20.00M USD 1 Quarter
Early retirement of debt GainsLossesOnExtinguishmentOfDebt $20.00M USD 1 Quarter
Early retirement of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement - USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $-21.00M USD 1 Quarter
Changes in assets and liabilities, net IncreaseDecreaseInOperatingCapital $143.00M USD 1 Quarter
Changes in assets and liabilities, net IncreaseDecreaseInOperatingCapital $127.00M USD 1 Quarter
Net cash from operating activities NetCashProvidedByUsedInOperatingActivities $1.84B USD 1 Quarter
Net cash from operating activities NetCashProvidedByUsedInOperatingActivities $592.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $537.00M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $499.00M USD 1 Quarter
Acquisitions of property and equipment PaymentsToPropertyAndEquipmentAcquisition $1.00M USD 1 Quarter
Acquisitions of property and equipment PaymentsToPropertyAndEquipmentAcquisition - USD 1 Quarter
Divestitures of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $15.00M USD 1 Quarter
Divestitures of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $26.00M USD 1 Quarter
WPX acquired cash CashAcquiredFromAcquisition $344.00M USD 1 Quarter
WPX acquired cash CashAcquiredFromAcquisition - USD 1 Quarter
Distributions from equity method investments ProceedsFromSaleOfEquityMethodInvestments $8.00M USD 1 Quarter
Distributions from equity method investments ProceedsFromSaleOfEquityMethodInvestments $10.00M USD 1 Quarter
Contributions to equity method investments PaymentsToAcquireEquityMethodInvestments $22.00M USD 1 Quarter
Contributions to equity method investments PaymentsToAcquireEquityMethodInvestments - USD 1 Quarter
Net cash from investing activities NetCashProvidedByUsedInInvestingActivities $-130.00M USD 1 Quarter
Net cash from investing activities NetCashProvidedByUsedInInvestingActivities $-526.00M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt $533.00M USD 1 Quarter
Repayments of long-term debt RepaymentsOfLongTermDebt - USD 1 Quarter
Early retirement of debt PaymentsOfDebtExtinguishmentCosts $27.00M USD 1 Quarter
Early retirement of debt PaymentsOfDebtExtinguishmentCosts - USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $211.00M USD 1 Quarter
Dividends paid on common stock PaymentsOfOrdinaryDividends $667.00M USD 1 Quarter
Dividends paid on common stock PaymentsOfOrdinaryDividends $203.00M USD 1 Quarter
Distributions to noncontrolling interests PaymentsToMinorityShareholders $8.00M USD 1 Quarter
Distributions to noncontrolling interests PaymentsToMinorityShareholders $4.00M USD 1 Quarter
Acquisition of noncontrolling interests AcquisitionOfNonControllingInterests - USD 1 Quarter
Acquisition of noncontrolling interests AcquisitionOfNonControllingInterests $-24.00M USD 1 Quarter
Shares exchanged for tax withholdings and other PaymentsRelatedToTaxWithholdingForShareBasedCompensation $73.00M USD 1 Quarter
Shares exchanged for tax withholdings and other PaymentsRelatedToTaxWithholdingForShareBasedCompensation $33.00M USD 1 Quarter
Net cash from financing activities NetCashProvidedByUsedInFinancingActivities $-824.00M USD 1 Quarter
Net cash from financing activities NetCashProvidedByUsedInFinancingActivities $-959.00M USD 1 Quarter
Effect of Exchange Rate on Cash, Continuing Operations EffectOfExchangeRateOnCashContinuingOperations $2.00M USD 1 Quarter
Effect of Exchange Rate on Cash, Continuing Operations EffectOfExchangeRateOnCashContinuingOperations $3.00M USD 1 Quarter
Net change in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $354.00M USD 1 Quarter
Net change in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-359.00M USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.24B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.62B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.27B USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.88B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.24B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.62B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.27B USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.88B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.68B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.46B USD Point-in-time
Restricted cash RestrictedCash $166.00M USD Point-in-time
Restricted cash RestrictedCash $195.00M USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.24B USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.62B USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.27B USD Point-in-time
Total cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.88B USD Point-in-time
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.02B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.40B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.44B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.49B USD Point-in-time
Net earnings ProfitLoss $995.00M USD 1 Quarter
Net earnings ProfitLoss $216.00M USD 1 Quarter
Other comprehensive earnings (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $1.00M USD 1 Quarter
Other comprehensive earnings (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $23.00M USD 1 Quarter
Restricted stock grants, net of cancellations, value StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $1.00M USD 1 Quarter
Common stock repurchased TreasuryStockValueAcquiredCostMethod $38.00M USD 1 Quarter
Common stock repurchased TreasuryStockValueAcquiredCostMethod $305.00M USD 1 Quarter
Common stock dividends DividendsCommonStock $203.00M USD 1 Quarter
Common stock dividends DividendsCommonStock $668.00M USD 1 Quarter
Common stock issued StockIssuedDuringPeriodValueNewIssues $5.43B USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $20.00M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $41.00M USD 1 Quarter
Distributions to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $4.00M USD 1 Quarter
Distributions to noncontrolling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $8.00M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.02B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.40B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.44B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.49B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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