Condensed Consolidated Statements of Equity - USD ($) $ in Millions | Total | Mezzanine Equity - Redeemable Noncontrolling | Common Stock | Treasury Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss | Equity Attributable to Common Stock | Equity Attributable to Noncontrolling Interests |
Beginning balance at Dec. 31, 2019 | | $ (296) | | | $ 0 | | $ 5,004 | $ (5,370) | $ (23) | $ (389) | $ 93 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | | | | | | | | | | | |
Net (loss) income | [1] | (2,052) | | | | | | (2,067) | | (2,067) | 15 |
Distributions to noncontrolling interest holders | | (32) | | | | | | | | | (32) |
Share-based compensation, net | | 4 | | | | | 4 | | | 4 | |
Ending balance at Jun. 30, 2020 | | (2,376) | | | 0 | | 5,008 | (7,437) | (23) | (2,452) | 76 |
Beginning balance at Dec. 31, 2019 | [2] | | $ 802 | | | | | | | | |
Increase (Decrease) in Temporary Equity [Roll Forward] | | | | | | | | | | | |
Net (loss) income | | 60 | 60 | [1],[2] | | | | | | | |
Contributions from noncontrolling interest holders | [2] | | 2 | | | | | | | | |
Distributions to noncontrolling interest holders | [2] | | (36) | | | | | | | | |
Ending balance at Jun. 30, 2020 | [2] | | 828 | | | | | | | | |
Beginning balance at Mar. 31, 2020 | | (2,095) | | | 0 | | 5,006 | (7,166) | (23) | (2,183) | 88 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | | | | | | | | | | | |
Net (loss) income | [1] | (277) | | | | | | (271) | | (271) | (6) |
Distributions to noncontrolling interest holders | | (6) | | | | | | | | | (6) |
Share-based compensation, net | | 2 | | | | | 2 | | | 2 | |
Ending balance at Jun. 30, 2020 | | (2,376) | | | 0 | | 5,008 | (7,437) | (23) | (2,452) | 76 |
Beginning balance at Mar. 31, 2020 | [2] | | 816 | | | | | | | | |
Increase (Decrease) in Temporary Equity [Roll Forward] | | | | | | | | | | | |
Net (loss) income | | 30 | 30 | [1],[2] | | | | | | | |
Distributions to noncontrolling interest holders | [2] | | (18) | | | | | | | | |
Ending balance at Jun. 30, 2020 | [2] | | $ 828 | | | | | | | | |
Beginning balance at Dec. 31, 2020 | | 1,182 | | | 1 | $ 0 | 1,268 | (123) | (8) | 1,138 | 44 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | | | | | | | | | | | |
Net (loss) income | [3] | (196) | | | | | | (205) | | (205) | 9 |
Distributions to noncontrolling interest holders | | (31) | | | | | | | | | (31) |
Share-based compensation, net | | 5 | | | | | 5 | | | 5 | |
Repurchases of common stock | | (45) | | | | (45) | | | | (45) | |
Ending balance at Jun. 30, 2021 | | 915 | | | 1 | (45) | 1,273 | (328) | (8) | 893 | 22 |
Increase (Decrease) in Temporary Equity [Roll Forward] | | | | | | | | | | | |
Net (loss) income | | 0 | | | | | | | | | |
Beginning balance at Mar. 31, 2021 | | 1,081 | | | 1 | 0 | 1,270 | (217) | (8) | 1,046 | 35 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | | | | | | | | | | | |
Net (loss) income | [3] | (107) | | | | | | (111) | | (111) | 4 |
Distributions to noncontrolling interest holders | | (17) | | | | | | | | | (17) |
Share-based compensation, net | | 3 | | | | | 3 | | | 3 | |
Repurchases of common stock | | (45) | | | | (45) | | | | (45) | |
Ending balance at Jun. 30, 2021 | | 915 | | | $ 1 | $ (45) | $ 1,273 | $ (328) | $ (8) | $ 893 | $ 22 |
Increase (Decrease) in Temporary Equity [Roll Forward] | | | | | | | | | | | |
Net (loss) income | | $ 0 | | | | | | | | | |
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[1] | For the three months ended June 30, 2020, we allocated $24 million of net income to noncontrolling interest holders, of which a $6 million net loss was included in stockholders' equity and $30 million was included in mezzanine equity on our condensed consolidated balance sheet. The remaining net loss of $271 million for the three months ended June 30, 2020 was attributed to holders of our common stock and included in stockholders' equity on our condensed consolidated balance sheet. For the six months ended June 30, 2020, we allocated $75 million of net income to noncontrolling interest holders, of which $15 million was included in stockholders' equity and $60 million was included in mezzanine equity on our condensed consolidated balance sheet. The remaining net loss of $2,067 million for the six months ended June 30, 2020 was attributed to holders of our common stock and included in stockholders' equity on our condensed consolidated balance sheet. | |
[2] | Redeemable noncontrolling interests are reported in mezzanine equity on our condensed consolidated balance sheets in Predecessor periods. See Part II, Item 8 – Financial Statements and Supplementary Data, Note 7 Joint Ventures in our Annual Report on Form 10-K for the year ended December 31, 2020 for more information about our noncontrolling interests in the Ares and Elk Hills Carbon joint ventures. | |
[3] | For the three and six months ended June 30, 2021, we allocated $4 million and $9 million of net income to noncontrolling interest holders, respectively, with the remaining $111 million and $205 million of net loss attributed to holders of our common stock, both of which were included in stockholders' equity on our condensed consolidated balance sheet. | |