Item 6. Selected Financial Data

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Item 6. Selected Financial Data

The financial information below should be read in conjunction with “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Item 8. Financial Statements and Supplementary Data” of this report.

20182017201620152014
Statement of Earnings data:
Upstream revenues (1)$6,285$5,307$3,981$5,885$11,619
Total revenues (1)$10,734$8,878$6,753$9,372$16,636
Net earnings (loss) from continuing operations (2)$764$758$(574)$(12,231)$(1,004)
Net earnings (loss) from continuing operations per share:
Basic (2)$1.53$1.44$(1.14)$(30.09)$(2.49)
Diluted (2)$1.52$1.43$(1.14)$(30.09)$(2.49)
Cash dividends per common share$0.30$0.24$0.42$0.96$0.94
Balance Sheet data:
Total assets (2)(3)$19,566$30,241$28,675$29,673$49,253
Long-term debt$5,785$6,749$6,859$8,990$7,738
Stockholders' equity$9,186$14,104$12,722$11,111$24,789
Common shares outstanding450525523418409
(1)In January 2018, Devon adopted ASC 606 – Revenue from Contracts with Customers using the modified retrospective method and has applied the standard to all existing contracts. The impact of adoption for 2018 is further discussed in Note 1 of “Item 8. Financial Statements and Supplementary Data” of this report. Prior periods have not been restated.
(2)Material asset impairments and acquisition and divestiture activity had significant impacts on operating results and the carrying value of our oil and gas assets. Specifically, there were asset impairments of $0.4 billion, $16.1 billion and $3.4 billion in 2016, 2015 and 2014, respectively. More discussion on these items can be found in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in Note 2 and Note 5 of “Item 8. Financial Statements and Supplementary Data” of this report.
(3)Amounts in 2014 through 2017 include assets related to our aggregate ownership interest in EnLink and the General Partner. As discussed further in Note 19 of “Item 8. Financial Statements and Supplementary Data” of this report, the 2018 divestment of our aggregate ownership interests in EnLink and the General Partner resulted in the reclassification of EnLink and the General Partners’ assets to assets held for sale, which are included within this amount.

Index to Financial Statements

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