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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash, cash equivalents and restricted cash $ 1,149 $ 875
Accounts receivable 1,670 1,573
Inventory 234 249
Other current assets 345 460
Total current assets 3,398 3,157
Oil and gas property and equipment, based on successful efforts accounting, net 18,033 17,825
Other property and equipment, net ($154 million and $136 million related to CDM in 2024 and 2023, respectively) [1] 1,551 1,503
Total property and equipment, net 19,584 19,328
Goodwill 753 753
Right-of-use assets 276 267
Investments 713 666
Other long-term assets 254 319
Total assets 24,978 24,490
LIABILITIES AND EQUITY    
Accounts payable 879 760
Revenues and royalties payable 1,268 1,222
Short-term debt 479 483
Income taxes payable 189 67
Other current liabilities 451 417
Total current liabilities 3,266 2,949
Long-term debt 5,668 5,672
Lease liabilities 301 295
Asset retirement obligations 683 643
Other long-term liabilities 841 876
Deferred income taxes 1,878 1,838
Stockholders' equity:    
Common stock, $0.10 par value. Authorized 1.0 billion shares; issued 633 million and 636 million shares in 2024 and 2023, respectively 63 64
Additional paid-in capital 5,718 5,939
Retained earnings 6,509 6,195
Accumulated other comprehensive loss (123) (124)
Treasury stock, at cost, 0.3 million shares in 2023 0 (13)
Total stockholders’ equity attributable to Devon 12,167 12,061
Noncontrolling interests 174 156
Total equity 12,341 12,217
Total liabilities and equity $ 24,978 $ 24,490
[1] $154 million and $136 million related to CDM in 2024 and 2023, respectively.