WPX ENERGY, INC. (WPX) [Rocket]

In millions, except per share items	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Total interest income							6	7
Net interest income							6	7
Equity in earnings	9	-6
Pre-tax income before non-recurring items	331	319	57	-1,032	2,351	404	-1,728	-258
Non-recurring items	3	3	161		2,331
Pre-tax income	328	316	-104	-1,032	20	404	-1,728	-258
Income taxes	70	74	-128	-360	24	148	-624	-84
Tax rate	21.3%	23.4%	123.1%	34.9%	120.0%	36.6%	36.1%	32.6%
Minority interest					1	7	-6	12
Earnings from continuing ops	258	234	9	-712	-14	249	-1,098	-186
Earnings from discontinued ops	-2	-91	-40	71	-1,722	-85	-87	-37
Net income	256	143	-31	-641	-1,736	164	-1,185	-223
Net margin	11.2%	6.2%	-3.0%	-134.1%	-127.1%	6.5%	-48.7%	-7.7%

Basic EPS	$0.61	$0.57	$0.02	($2.27)	($0.06)	$1.23	($5.48)	($0.94)
Diluted EPS	$0.61	$0.57	$0.02	($2.27)	($0.06)	$1.21	($5.48)	($0.94)

Shares outstanding (basic)	420	408	395	313	234	203	201	199
Shares outstanding (diluted)	422	412	397	313	234	206	201	199

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.