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These excerpts taken from the DVN 10-K filed Feb 27, 2009. Other
Income, Net
The following schedule includes the components of other income
between 2006 and 2008.
Interest and dividend income decreased from 2007 to 2008
primarily due to a decrease in interest rates, as well as a
decrease in dividends received on our investment in Chevron
common stock. Interest and dividend income decreased from 2006
to 2007 primarily due to a decrease in income-earning cash and
investment balances, partially offset by an increase in the
dividend rate on our investment in Chevron common stock.
We suffered insured damages in the third quarter of 2005 related
to hurricanes that struck the Gulf of Mexico. During 2006 and
2007, we received $480 million as a full settlement of the
amount due from our primary insurers and certain of our
secondary insurers. During the fourth quarter of 2008, we
received $106 million as full settlement of the amount due
from our remaining secondary insurers. Our claims under our then
existing insurance arrangements included both physical damages
and business interruption claims. As of December 31, 2008,
we had utilized $424 million of these proceeds as
reimbursement of repair costs and deductible amounts, resulting
in excess recoveries. The $162 million of excess recoveries
was recorded as other income during 2008.
Other
Income, Net
The following schedule includes the components of other income
between 2006 and 2008.
Interest and dividend income decreased from 2007 to 2008
primarily due to a decrease in interest rates, as well as a
decrease in dividends received on our investment in Chevron
common stock. Interest and dividend income decreased from 2006
to 2007 primarily due to a decrease in income-earning cash and
investment balances, partially offset by an increase in the
dividend rate on our investment in Chevron common stock.
We suffered insured damages in the third quarter of 2005 related
to hurricanes that struck the Gulf of Mexico. During 2006 and
2007, we received $480 million as a full settlement of the
amount due from our primary insurers and certain of our
secondary insurers. During the fourth quarter of 2008, we
received $106 million as full settlement of the amount due
from our remaining secondary insurers. Our claims under our then
existing insurance arrangements included both physical damages
and business interruption claims. As of December 31, 2008,
we had utilized $424 million of these proceeds as
reimbursement of repair costs and deductible amounts, resulting
in excess recoveries. The $162 million of excess recoveries
was recorded as other income during 2008.
Other Income, Net The following schedule includes the components of other income between 2006 and 2008.
Interest and dividend income decreased from 2007 to 2008 primarily due to a decrease in interest rates, as well as a decrease in dividends received on our investment in Chevron common stock. Interest and dividend income decreased from 2006 to 2007 primarily due to a decrease in income-earning cash and investment balances, partially offset by an increase in the dividend rate on our investment in Chevron common stock. We suffered insured damages in the third quarter of 2005 related to hurricanes that struck the Gulf of Mexico. During 2006 and 2007, we received $480 million as a full settlement of the amount due from our primary insurers and certain of our secondary insurers. During the fourth quarter of 2008, we received $106 million as full settlement of the amount due from our remaining secondary insurers. Our claims under our then existing insurance arrangements included both physical damages and business interruption claims. As of December 31, 2008, we had utilized $424 million of these proceeds as reimbursement of repair costs and deductible amounts, resulting in excess recoveries. The $162 million of excess recoveries was recorded as other income during 2008. Other Income, Net The following schedule includes the components of other income between 2006 and 2008.
Interest and dividend income decreased from 2007 to 2008 primarily due to a decrease in interest rates, as well as a decrease in dividends received on our investment in Chevron common stock. Interest and dividend income decreased from 2006 to 2007 primarily due to a decrease in income-earning cash and investment balances, partially offset by an increase in the dividend rate on our investment in Chevron common stock. We suffered insured damages in the third quarter of 2005 related to hurricanes that struck the Gulf of Mexico. During 2006 and 2007, we received $480 million as a full settlement of the amount due from our primary insurers and certain of our secondary insurers. During the fourth quarter of 2008, we received $106 million as full settlement of the amount due from our remaining secondary insurers. Our claims under our then existing insurance arrangements included both physical damages and business interruption claims. As of December 31, 2008, we had utilized $424 million of these proceeds as reimbursement of repair costs and deductible amounts, resulting in excess recoveries. The $162 million of excess recoveries was recorded as other income during 2008. These excerpts taken from the DVN 10-K filed Jun 9, 2008. Other
Income, Net
The following schedule includes the components of other income
between 2005 and 2007.
Interest and dividend income decreased from 2006 to 2007
primarily due to a decrease in income-earning cash and
investment balances, partially offset by an increase in the
dividend rate on our investment in Chevron common stock.
Interest and dividend income increased from 2005 to 2006
primarily due to an increase in cash and short-term investment
balances and higher interest rates.
During 2005, we sold certain non-core midstream assets for a net
gain of $150 million. Also during 2005, we incurred a
$55 million loss on certain commodity hedges that no longer
qualified for hedge accounting and were settled prior to the end
of their original term. These hedges related to U.S. and
Canadian oil production from properties sold as part of our 2005
property divestiture program. This loss was partially offset by
a $7 million gain related to interest rate swaps that were
settled prior to the end of their original term in conjunction
with the early redemption of the $400 million
6.75% senior notes in 2005.
Other Income, Net The following schedule includes the components of other income between 2005 and 2007.
Interest and dividend income decreased from 2006 to 2007 primarily due to a decrease in income-earning cash and investment balances, partially offset by an increase in the dividend rate on our investment in Chevron common stock. Interest and dividend income increased from 2005 to 2006 primarily due to an increase in cash and short-term investment balances and higher interest rates. During 2005, we sold certain non-core midstream assets for a net gain of $150 million. Also during 2005, we incurred a $55 million loss on certain commodity hedges that no longer qualified for hedge accounting and were settled prior to the end of their original term. These hedges related to U.S. and Canadian oil production from properties sold as part of our 2005 property divestiture program. This loss was partially offset by a $7 million gain related to interest rate swaps that were settled prior to the end of their original term in conjunction with the early redemption of the $400 million 6.75% senior notes in 2005. These excerpts taken from the DVN 10-K filed Feb 28, 2008. Other
Income, Net
The following schedule includes the components of other income
between 2005 and 2007.
Interest and dividend income decreased from 2006 to 2007
primarily due to a decrease in income-earning cash and
investment balances, partially offset by an increase in the
dividend rate on our investment in Chevron common stock.
Interest and dividend income increased from 2005 to 2006
primarily due to an increase in cash and short-term investment
balances and higher interest rates.
During 2005, we sold certain non-core midstream assets for a net
gain of $150 million. Also during 2005, we incurred a
$55 million loss on certain commodity hedges that no longer
qualified for hedge accounting and were settled prior to the end
of their original term. These hedges related to U.S. and
Canadian oil production from properties sold as part of our 2005
property divestiture program. This loss was partially offset by
a $7 million gain related to interest rate swaps that were
settled prior to the end of their original term in conjunction
with the early redemption of the $400 million
6.75% senior notes in 2005.
Other Income, Net The following schedule includes the components of other income between 2005 and 2007.
Interest and dividend income decreased from 2006 to 2007 primarily due to a decrease in income-earning cash and investment balances, partially offset by an increase in the dividend rate on our investment in Chevron common stock. Interest and dividend income increased from 2005 to 2006 primarily due to an increase in cash and short-term investment balances and higher interest rates. During 2005, we sold certain non-core midstream assets for a net gain of $150 million. Also during 2005, we incurred a $55 million loss on certain commodity hedges that no longer qualified for hedge accounting and were settled prior to the end of their original term. These hedges related to U.S. and Canadian oil production from properties sold as part of our 2005 property divestiture program. This loss was partially offset by a $7 million gain related to interest rate swaps that were settled prior to the end of their original term in conjunction with the early redemption of the $400 million 6.75% senior notes in 2005. This excerpt taken from the DVN 10-K filed Feb 28, 2007. Other
Income, Net
The following schedule includes the components of other income
between 2004 and 2006.
Interest and dividend income increased from 2004 to 2005
primarily due to an increase in cash and short-term investment
balances and higher interest rates.
During 2005, we sold certain non-core midstream assets for a net
gain of $150 million. Also during 2005, we incurred a
$55 million loss on certain commodity hedges that no longer
qualified for hedge accounting and were settled prior to the end
of their original term. These hedges related to U.S. and
Canadian oil production from properties sold as part of our 2005
property divestiture program. This loss was partially offset by
a $7 million gain related to interest rate swaps that were
settled prior to the end of their original term in conjunction
with the early redemption of the $400 million
6.75% senior notes in 2005.
The gains in 2005 and 2004 from changes in foreign exchange
rates were primarily related to $400 million of Canadian
subsidiary debt that was denominated in U.S. dollars. The
debt was retired in 2005.
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