Income Taxes	3 Months Ended
Mar. 31, 2017
Income Taxes [Abstract]
Income Taxes	Note 19—Income Taxes Our effective tax rate for the first quarter of 2017 was 358 percent compared with 35 percent for the first quarter of 2016. The increase in the effective tax rate was primarily due to the recognition of deferred tax benefits associated with the disposition of certain Canadian assets, discussed below, and lower before-tax losses in low tax jurisdictions. This is partially offset by our higher before-tax income in high tax jurisdictions. On March 29, 2017, we signed a definitive agreement with Cenovus Energy to sell our 50 percent nonoperated interest in the FCCL Partnership and the majority of our western Canada gas assets. The transaction is subject to specific conditions precedent being satisfied, including regulatory review and approval, and is expected to close in the second quarter of 2017. During the first quarter, we recorded a $996 million financial accounting tax benefit primarily associated with a deferred tax recovery related to the Canadian capital gains exclusion component of the transaction and the recognition of previously unrealizable Canadian capital asset tax basis. The disposition, along with the associated restructuring of our Canadian operations, may generate an additional tax benefit of approximately $800 million. However, since we believe it is not likely we will receive a corresponding cash tax savings of this amount, the benefit has not been recorded. See Note 4—Assets Held for Sale and Other Planned Dispositions, for additional information on our Canada disposition.

Income Taxes

3 Months Ended

Mar. 31, 2017

Note 19—Income Taxes

Our effective tax rate for the first quarter of 2017 was 358 percent compared with 35 percent for the first quarter of 2016. The increase in the effective tax rate was primarily due to the recognition of deferred tax benefits associated with the disposition of certain Canadian assets, discussed below, and lower before-tax losses in low tax jurisdictions. This is partially offset by our higher before-tax income in high tax jurisdictions.

On March 29, 2017, we signed a definitive agreement with Cenovus Energy to sell our 50 percent nonoperated interest in the FCCL Partnership and the majority of our western Canada gas assets. The transaction is subject to specific conditions precedent being satisfied, including regulatory review and approval, and is expected to close in the second quarter of 2017. During the first quarter, we recorded a $996 million financial accounting tax benefit primarily associated with a deferred tax recovery related to the Canadian capital gains exclusion component of the transaction and the recognition of previously unrealizable Canadian capital asset tax basis. The disposition, along with the associated restructuring of our Canadian operations, may generate an additional tax benefit of approximately $800 million. However, since we believe it is not likely we will receive a corresponding cash tax savings of this amount, the benefit has not been recorded. See Note 4—Assets Held for Sale and Other Planned Dispositions, for additional information on our Canada disposition.