Exhibit 99.2
CONSOLIDATED STATEMENT OF OPERATIONS | ||||||||||||||||||||||
Millions of Dollars | ||||||||||||||||||||||
2008 | 2009 | |||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||||||
Revenues and Other Income | ||||||||||||||||||||||
Sales and other operating revenues* | 54,883 | 71,411 | 70,044 | 44,504 | 240,842 | 30,741 | 35,448 | 40,173 | 42,979 | 149,341 | ||||||||||||
Equity in earnings of affiliates | 1,359 | 1,812 | 1,214 | (135 | ) | 4,250 | 415 | 1,076 | 1,015 | 475 | 2,981 | |||||||||||
Other income | 310 | 130 | 115 | 535 | 1,090 | 124 | 106 | 117 | 171 | 518 | ||||||||||||
56,552 | 73,353 | 71,373 | 44,904 | 246,182 | 31,280 | 36,630 | 41,305 | 43,625 | 152,840 | |||||||||||||
Costs and Expenses | ||||||||||||||||||||||
Purchased crude oil, natural gas and products | 37,820 | 51,214 | 49,608 | 30,021 | 168,663 | 19,759 | 24,609 | 28,008 | 30,057 | 102,433 | ||||||||||||
Production and operating expenses | 2,691 | 3,111 | 3,059 | 2,957 | 11,818 | 2,545 | 2,573 | 2,534 | 2,687 | 10,339 | ||||||||||||
Selling, general and administrative expenses | 526 | 629 | 513 | 561 | 2,229 | 475 | 476 | 427 | 452 | 1,830 | ||||||||||||
Exploration expenses | 309 | 288 | 267 | 473 | 1,337 | 225 | 243 | 386 | 328 | 1,182 | ||||||||||||
Depreciation, depletion and amortization | 2,209 | 2,178 | 2,361 | 2,264 | 9,012 | 2,230 | 2,347 | 2,327 | 2,391 | 9,295 | ||||||||||||
Impairments | ||||||||||||||||||||||
Goodwill | - | - | - | 25,443 | 25,443 | - | - | - | - | - | ||||||||||||
LUKOIL investment | - | - | - | 7,410 | 7,410 | - | - | - | - | - | ||||||||||||
Expropriated Assets | - | - | - | - | - | - | 51 | - | 51 | |||||||||||||
Other | 6 | 19 | 57 | 1,604 | 1,686 | 3 | - | 56 | 425 | 484 | ||||||||||||
Taxes other than income taxes* | 5,155 | 5,796 | 5,619 | 4,067 | 20,637 | 3,464 | 3,715 | 4,205 | 4,145 | 15,529 | ||||||||||||
Accretion on discounted liabilities | 104 | 96 | 114 | 104 | 418 | 104 | 108 | 96 | 114 | 422 | ||||||||||||
Interest and debt expense | 207 | 210 | 239 | 279 | 935 | 310 | 268 | 336 | 375 | 1,289 | ||||||||||||
Foreign currency transaction (gains) losses | (43 | ) | - | 54 | 106 | 117 | 131 | (142 | ) | (17 | ) | (18 | ) | (46 | ) | |||||||
48,984 | 63,541 | 61,891 | 75,289 | 249,705 | 29,246 | 34,248 | 38,358 | 40,956 | 142,808 | |||||||||||||
Income (loss) before income taxes | 7,568 | 9,812 | 9,482 | (30,385 | ) | (3,523 | ) | 2,034 | 2,382 | 2,947 | 2,669 | 10,032 | ||||||||||
Provision for income taxes | 3,410 | 4,356 | 4,279 | 1,360 | 13,405 | 1,178 | 1,068 | 1,427 | 1,423 | 5,096 | ||||||||||||
Net Income (Loss) | 4,158 | 5,456 | 5,203 | (31,745 | ) | (16,928 | ) | 856 | 1,314 | 1,520 | 1,246 | 4,936 | ||||||||||
Less: net income attributable to | ||||||||||||||||||||||
noncontrolling interests | (19 | ) | (17 | ) | (15 | ) | (19 | ) | (70 | ) | (16 | ) | (16 | ) | (17 | ) | (29 | ) | (78 | ) | ||
Net Income (Loss) Attributable to ConocoPhillips | 4,139 | 5,439 | 5,188 | (31,764 | ) | (16,998 | ) | 840 | 1,298 | 1,503 | 1,217 | 4,858 | ||||||||||
* Includes excise taxes on petroleum products sales: | 3,857 | 4,091 | 4,022 | 3,448 | 15,418 | 3,060 | 3,316 | 3,538 | 3,411 | 13,325 | ||||||||||||
Net income (loss) attributable to ConocoPhillips | ||||||||||||||||||||||
per share of common stock (dollars)** | ||||||||||||||||||||||
Basic | 2.65 | 3.54 | 3.43 | (21.37 | ) | (11.16 | ) | 0.57 | 0.87 | 1.00 | 0.82 | 3.26 | ||||||||||
Diluted | 2.62 | 3.50 | 3.39 | (21.37 | ) | (11.16 | ) | 0.56 | 0.87 | 1.00 | 0.81 | 3.24 | ||||||||||
Average common shares outstanding (in thousands) | ||||||||||||||||||||||
Basic | 1,562,198 | 1,534,975 | 1,510,897 | 1,486,204 | 1,523,432 | 1,485,890 | 1,486,496 | 1,488,352 | 1,489,811 | 1,487,650 | ||||||||||||
Diluted | 1,582,025 | 1,555,447 | 1,528,187 | 1,486,204 | 1,523,432 | 1,495,247 | 1,495,700 | 1,498,204 | 1,500,983 | 1,497,608 | ||||||||||||
** For the purpose of the earnings-per-share calculation only, third-quarter and twelve-month 2009 net income attributable to ConocoPhillips has been reduced $12 million for the excess of the amount paid for the redemption of a noncontrolling interest over its carrying value, which was charged directly to retained earnings. |
SUMMARY OF INCOME (LOSS) ATTRIBUTABLE TO CONOCOPHILLIPS BY SEGMENT | |||||||||||||||||||||
Millions of Dollars | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
U.S. E&P | 1,349 | 1,852 | 1,606 | 181 | 4,988 | 173 | 336 | 327 | 667 | 1,503 | |||||||||||
International E&P | 1,538 | 2,147 | 2,322 | 969 | 6,976 | 527 | 389 | 651 | 534 | 2,101 | |||||||||||
Goodwill Impairment | - | - | - | (25,443 | ) | (25,443 | ) | - | - | - | - | - | |||||||||
Total E&P | 2,887 | 3,999 | 3,928 | (24,293 | ) | (13,479 | ) | 700 | 725 | 978 | 1,201 | 3,604 | |||||||||
Midstream | 137 | 162 | 173 | 69 | 541 | 123 | 31 | 62 | 97 | 313 | |||||||||||
U.S. R&M | 435 | 587 | 524 | (6 | ) | 1,540 | 98 | (38 | ) | 73 | (325 | ) | (192 | ) | |||||||
International R&M | 85 | 77 | 325 | 295 | 782 | 107 | (14 | ) | 26 | 110 | 229 | ||||||||||
Total R&M | 520 | 664 | 849 | 289 | 2,322 | 205 | (52 | ) | 99 | (215 | ) | 37 | |||||||||
LUKOIL Investment | 710 | 774 | 438 | (7,410 | ) | (5,488 | ) | 48 | 682 | 545 | 388 | 1,663 | |||||||||
Chemicals | 52 | 18 | 46 | (6 | ) | 110 | 23 | 67 | 104 | 54 | 248 | ||||||||||
Emerging Businesses | 12 | 8 | 35 | (25 | ) | 30 | - | 2 | (2 | ) | 3 | 3 | |||||||||
Corporate and Other | (179 | ) | (186 | ) | (281 | ) | (388 | ) | (1,034 | ) | (259 | ) | (157 | ) | (283 | ) | (311 | ) | (1,010 | ) | |
Consolidated | 4,139 | 5,439 | 5,188 | (31,764 | ) | (16,998 | ) | 840 | 1,298 | 1,503 | 1,217 | 4,858 |
Page 1 of 12
SUMMARY OF INCOME (LOSS) BEFORE TAXES* BY SEGMENT | |||||||||||||||||||||
Millions of Dollars | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
Income (Loss) Before Income Taxes | |||||||||||||||||||||
U.S. E&P | 2,094 | 2,848 | 2,518 | 145 | 7,605 | 283 | 502 | 505 | 1,000 | 2,290 | |||||||||||
International E&P | 3,832 | 5,222 | 5,143 | 2,442 | 16,639 | 1,498 | 1,311 | 1,855 | 1,828 | 6,492 | |||||||||||
Goodwill Impairment | - | - | - | (25,443 | ) | (25,443 | ) | - | - | - | - | - | |||||||||
Total E&P | 5,926 | 8,070 | 7,661 | (22,856 | ) | (1,199 | ) | 1,781 | 1,813 | 2,360 | 2,828 | 8,782 | |||||||||
Midstream | 206 | 243 | 260 | 93 | 802 | 202 | 50 | 93 | 139 | 484 | |||||||||||
U.S. R&M | 717 | 938 | 852 | (33 | ) | 2,474 | 163 | 13 | 116 | (448 | ) | (156 | ) | ||||||||
International R&M | 101 | 32 | 442 | 421 | 996 | 150 | (37 | ) | 25 | 99 | 237 | ||||||||||
Total R&M | 818 | 970 | 1,294 | 388 | 3,470 | 313 | (24 | ) | 141 | (349 | ) | 81 | |||||||||
LUKOIL Investment | 729 | 795 | 451 | (7,414 | ) | (5,439 | ) | 42 | 687 | 557 | 395 | 1,681 | |||||||||
Chemicals | 54 | - | 64 | 7 | 125 | 32 | 82 | 131 | 50 | 295 | |||||||||||
Emerging Businesses | 15 | 17 | 45 | (53 | ) | 24 | (5 | ) | (2 | ) | (6 | ) | - | (13 | ) | ||||||
Corporate and Other | (180 | ) | (283 | ) | (293 | ) | (550 | ) | (1,306 | ) | (331 | ) | (224 | ) | (329 | ) | (394 | ) | (1,278 | ) | |
Consolidated | 7,568 | 9,812 | 9,482 | (30,385 | ) | (3,523 | ) | 2,034 | 2,382 | 2,947 | 2,669 | 10,032 | |||||||||
* 2008 recasted to reflect adoption of SFAS No. 160, "Noncontrolling Interests in Consolidated Financial Statements." | |||||||||||||||||||||
Effective Tax Rates | |||||||||||||||||||||
U.S. E&P | 35.6 | % | 35.0 | % | 36.2 | % | -24.8 | % | 34.4 | % | 38.5 | % | 33.1 | % | 35.2 | % | 33.3 | % | 34.3 | % | |
International E&P | 59.6 | % | 58.7 | % | 54.7 | % | 59.8 | % | 57.8 | % | 64.1 | % | 69.4 | % | 64.1 | % | 69.3 | % | 66.6 | % | |
Total E&P | 51.1 | % | 50.3 | % | 48.6 | % | -6.2 | % | -1020.8 | % | 60.0 | % | 59.3 | % | 57.9 | % | 56.5 | % | 58.2 | % | |
Midstream | 33.5 | % | 33.3 | % | 33.5 | % | 25.8 | % | 32.5 | % | 39.1 | % | 40.0 | % | 33.3 | % | 30.2 | % | 35.3 | % | |
U.S. R&M | 39.2 | % | 37.4 | % | 38.6 | % | 81.8 | % | 37.8 | % | 39.9 | % | 384.6 | % | 35.3 | % | 27.5 | % | -20.5 | % | |
International R&M | 15.8 | % | -140.6 | % | 26.5 | % | 29.9 | % | 21.5 | % | 28.7 | % | 62.2 | % | 0.0 | % | -11.1 | % | 3.8 | % | |
Total R&M | 36.3 | % | 31.5 | % | 34.5 | % | 25.5 | % | 33.1 | % | 34.5 | % | -112.5 | % | 29.1 | % | 38.4 | % | 50.6 | % | |
LUKOIL Investment | 2.5 | % | 2.8 | % | 2.7 | % | 0.1 | % | -0.9 | % | -14.3 | % | 0.9 | % | 2.0 | % | 1.8 | % | 1.1 | % | |
Chemicals | 3.7 | % | - | 28.1 | % | 185.7 | % | 12.0 | % | 28.1 | % | 17.1 | % | 21.4 | % | -10.0 | % | 15.9 | % | ||
Emerging Businesses | 20.0 | % | 52.9 | % | 22.2 | % | 52.8 | % | -25.0 | % | 100.0 | % | 200.0 | % | 66.7 | % | -- | 123.1 | % | ||
Corporate and Other | 5.0 | % | 36.7 | % | 6.1 | % | 30.7 | % | 23.0 | % | 22.7 | % | 31.3 | % | 14.3 | % | 21.3 | % | 21.6 | % | |
Consolidated | 45.1 | % | 44.4 | % | 45.1 | % | -4.5 | % | -380.5 | % | 57.9 | % | 44.8 | % | 48.4 | % | 53.3 | % | 50.8 | % |
ESTIMATED TAXES PAID | |||||||||||||||||||||
Millions of Dollars | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
Cash income taxes paid | 1,649 | 4,756 | 3,845 | 2,872 | 13,122 | 1,346 | 1,925 | 1,535 | 1,835 | 6,641 | |||||||||||
Taxes other than income taxes | 5,155 | 5,796 | 5,619 | 4,067 | 20,637 | 3,464 | 3,715 | 4,205 | 4,145 | 15,529 | |||||||||||
Less: Excise taxes* | (3,857 | ) | (4,091 | ) | (4,022 | ) | (3,448 | ) | (15,418 | ) | (3,060 | ) | (3,316 | ) | (3,538 | ) | (3,411 | ) | (13,325 | ) | |
Estimated Taxes Paid | 2,947 | 6,461 | 5,442 | 3,491 | 18,341 | 1,750 | 2,324 | 2,202 | 2,569 | 8,845 | |||||||||||
* Represents taxes collected by ConocoPhillips and reimbursed to taxing authorities. |
Page 2 of 12
CERTAIN ITEMS INCLUDED IN NET INCOME ATTRIBUTABLE TO CONOCOPHILLIPS (AFTER-TAX) | |||||||||||||||||||||
Millions of Dollars | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
U.S. E&P | |||||||||||||||||||||
Gain (loss) on asset sales | 4 | 12 | - | 11 | 27 | - | - | - | - | - | |||||||||||
Impairments | - | - | - | (403 | ) | (403 | ) | - | - | - | (29 | ) | (29 | ) | |||||||
Severance accrual | - | - | - | (43 | ) | (43 | ) | - | - | 20 | - | 20 | |||||||||
Total | 4 | 12 | - | (435 | ) | (419 | ) | - | - | 20 | (29 | ) | (9 | ) | |||||||
International E&P | |||||||||||||||||||||
Gain (loss) on asset sales | 8 | - | 138 | 417 | 563 | - | - | - | 55 | 55 | |||||||||||
Impairments | - | - | (28 | ) | (196 | ) | (224 | ) | - | (51 | ) | - | (533 | ) | (584 | ) | |||||
Severance accrual | - | - | - | (28 | ) | (28 | ) | - | - | 11 | - | 11 | |||||||||
Asset retirement | - | - | - | - | - | - | (37 | ) | - | - | (37 | ) | |||||||||
Total | 8 | - | 110 | 193 | 311 | - | (88 | ) | 11 | (478 | ) | (555 | ) | ||||||||
Goodwill impairment | - | - | - | (25,443 | ) | (25,443 | ) | - | - | - | - | - | |||||||||
Total E&P | 12 | 12 | 110 | (25,685 | ) | (25,551 | ) | - | (88 | ) | 31 | (507 | ) | (564 | ) | ||||||
Midstream | |||||||||||||||||||||
Gain on share issuance by equity affiliate | - | - | - | - | - | 88 | - | - | - | 88 | |||||||||||
Total | - | - | - | - | - | 88 | - | - | - | 88 | |||||||||||
U.S. R&M | |||||||||||||||||||||
Gain (loss) on asset sales | 116 | 8 | 2 | (5 | ) | 121 | - | - | 32 | - | 32 | ||||||||||
Impairments | (3 | ) | (10 | ) | - | (357 | ) | (370 | ) | - | (72 | ) | (33 | ) | (11 | ) | (116 | ) | |||
Severance accrual | - | - | - | (23 | ) | (23 | ) | - | - | 6 | - | 6 | |||||||||
Pending claims and settlements | - | - | - | - | - | (25 | ) | - | (33 | ) | - | (58 | ) | ||||||||
Total | 113 | (2 | ) | 2 | (385 | ) | (272 | ) | (25 | ) | (72 | ) | (28 | ) | (11 | ) | (136 | ) | |||
International R&M | |||||||||||||||||||||
Gain (loss) on asset sales | - | 1 | - | 102 | 103 | - | - | - | - | - | |||||||||||
Impairments | - | - | - | (180 | ) | (180 | ) | - | - | - | - | - | |||||||||
Severance accrual | - | - | - | (1 | ) | (1 | ) | - | - | - | - | - | |||||||||
Total | - | 1 | - | (79 | ) | (78 | ) | - | - | - | - | - | |||||||||
Total R&M | 113 | (1 | ) | 2 | (464 | ) | (350 | ) | (25 | ) | (72 | ) | (28 | ) | (11 | ) | (136 | ) | |||
LUKOIL Investment | |||||||||||||||||||||
Impairment | - | - | - | (7,410 | ) | (7,410 | ) | - | - | - | - | - | |||||||||
Total | - | - | - | (7,410 | ) | (7,410 | ) | - | - | - | - | - | |||||||||
Chemicals | |||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | ||||||||||||
Total | - | - | - | - | - | - | - | - | - | - | |||||||||||
Emerging Businesses | |||||||||||||||||||||
Impairments | - | - | - | (85 | ) | (85 | ) | - | - | - | - | - | |||||||||
Total | - | - | - | (85 | ) | (85 | ) | - | - | - | - | - | |||||||||
Corporate and Other | |||||||||||||||||||||
Pending claims and settlements | 35 | - | - | - | 35 | - | - | (7 | ) | - | (7 | ) | |||||||||
Impairments | - | - | - | (30 | ) | (30 | ) | - | - | - | - | - | |||||||||
Severance accrual | - | - | - | (4 | ) | (4 | ) | - | - | 3 | - | 3 | |||||||||
Total | 35 | - | - | (34 | ) | 1 | - | - | (4 | ) | - | (4 | ) | ||||||||
Total Company | 160 | 11 | 112 | (33,678 | ) | (33,395 | ) | 63 | (160 | ) | (1 | ) | (518 | ) | (616 | ) |
Page 3 of 12
CASH FLOW INFORMATION | |||||||||||||||||||||
Millions of Dollars | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||||||
Net income (loss)* | 4,158 | 5,455 | 5,204 | (31,745 | ) | (16,928 | ) | 856 | 1,314 | 1,520 | 1,246 | 4,936 | |||||||||
Depreciation, depletion and amortization | 2,209 | 2,178 | 2,361 | 2,264 | 9,012 | 2,230 | 2,347 | 2,327 | 2,391 | 9,295 | |||||||||||
Impairments | 6 | 19 | 57 | 34,457 | 34,539 | 3 | 51 | 56 | 425 | 535 | |||||||||||
Dry hole costs and leasehold impairments | 154 | 127 | 118 | 299 | 698 | 123 | 115 | 233 | 135 | 606 | |||||||||||
Accretion on discounted liabilities | 104 | 96 | 114 | 104 | 418 | 104 | 108 | 96 | 114 | 422 | |||||||||||
Deferred income taxes | (17 | ) | 28 | 48 | (487 | ) | (428 | ) | (219 | ) | (377 | ) | (268 | ) | (245 | ) | (1,109 | ) | |||
Undistributed equity earnings | (987 | ) | (1,001 | ) | (542 | ) | 921 | (1,609 | ) | (322 | ) | (770 | ) | (726 | ) | 114 | (1,704 | ) | |||
Net gain on asset dispositions | (181 | ) | (32 | ) | (133 | ) | (545 | ) | (891 | ) | (39 | ) | 3 | (52 | ) | (72 | ) | (160 | ) | ||
Other* | (183 | ) | 67 | (69 | ) | (949 | ) | (1,134 | ) | (2 | ) | 177 | (326 | ) | 347 | 196 | |||||
Net working capital changes | 1,324 | (1,503 | ) | 357 | (1,197 | ) | (1,019 | ) | (849 | ) | (401 | ) | 73 | 639 | (538 | ) | |||||
Net Cash Provided by | |||||||||||||||||||||
Operating Activities | 6,587 | 5,434 | 7,515 | 3,122 | 22,658 | 1,885 | 2,567 | 2,933 | 5,094 | 12,479 | |||||||||||
Cash Flows from Investing Activities | |||||||||||||||||||||
Capital expenditures & investments | (3,322 | ) | (3,398 | ) | (3,815 | ) | (8,564 | ) | (19,099 | ) | (2,906 | ) | (2,672 | ) | (2,598 | ) | (2,685 | ) | (10,861 | ) | |
Proceeds from asset dispositions | 370 | 71 | 288 | 911 | 1,640 | 86 | 146 | 706 | 332 | 1,270 | |||||||||||
Long-term advance to/collections from | |||||||||||||||||||||
affiliates and other investments | (60 | ) | (83 | ) | (209 | ) | 195 | (157 | ) | (106 | ) | (56 | ) | (29 | ) | (153 | ) | (344 | ) | ||
Net Cash Used for Investing Activities | (3,012 | ) | (3,410 | ) | (3,736 | ) | (7,458 | ) | (17,616 | ) | (2,926 | ) | (2,582 | ) | (1,921 | ) | (2,506 | ) | (9,935 | ) | |
Cash Flows from Financing Activities | |||||||||||||||||||||
Net issuance (repayment) of debt | (202 | ) | 426 | 183 | 5,353 | 5,760 | 1,931 | 989 | 104 | (1,795 | ) | 1,229 | |||||||||
Issuance of stock | 7 | 178 | (3 | ) | 16 | 198 | (21 | ) | - | 10 | 24 | 13 | |||||||||
Repurchase of stock | (2,496 | ) | (2,512 | ) | (2,492 | ) | (749 | ) | (8,249 | ) | - | - | - | - | - | ||||||
Dividends | (730 | ) | (719 | ) | (710 | ) | (695 | ) | (2,854 | ) | (696 | ) | (697 | ) | (697 | ) | (742 | ) | (2,832 | ) | |
Other | (196 | ) | (44 | ) | (186 | ) | (193 | ) | (619 | ) | (203 | ) | (203 | ) | (685 | ) | (174 | ) | (1,265 | ) | |
Net Cash Provided by (Used for) | |||||||||||||||||||||
Financing Activities | (3,617 | ) | (2,671 | ) | (3,208 | ) | 3,732 | (5,764 | ) | 1,011 | 89 | (1,268 | ) | (2,687 | ) | (2,855 | ) | ||||
Effect of Exchange Rate Changes | 9 | 11 | (242 | ) | 243 | 21 | 77 | 12 | 9 | - | 98 | ||||||||||
Net Change in Cash | |||||||||||||||||||||
and Cash Equivalents | (33 | ) | (636 | ) | 329 | (361 | ) | (701 | ) | 47 | 86 | (247 | ) | (99 | ) | (213 | ) | ||||
Cash and cash equivalents | |||||||||||||||||||||
at beginning of period | 1,456 | 1,423 | 787 | 1,116 | 1,456 | 755 | 802 | 888 | 641 | 755 | |||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||
at End of Period | 1,423 | 787 | 1,116 | 755 | 755 | 802 | 888 | 641 | 542 | 542 | |||||||||||
* 2008 recasted to reflect adoption of SFAS No. 160, "Noncontrolling Interests in Consolidated Financial Statements." | |||||||||||||||||||||
Millions of Dollars | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
Capital Program | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||||
E&P | |||||||||||||||||||||
Capital expenditures and investments | 2,818 | 2,806 | 3,079 | 7,753 | 16,456 | 2,376 | 2,059 | 2,202 | 2,262 | 8,899 | |||||||||||
Loans and advances | 67 | 85 | 26 | (18 | ) | 160 | 88 | 33 | 32 | 22 | 175 | ||||||||||
Joint venture acquisition obligation--principal | 145 | 148 | 149 | 151 | 593 | 153 | 156 | 157 | 159 | 625 | |||||||||||
E&P total | 3,030 | 3,039 | 3,254 | 7,886 | 17,209 | 2,617 | 2,248 | 2,391 | 2,443 | 9,699 | |||||||||||
Midstream* | - | - | - | 4 | 4 | 1 | 3 | - | 1 | 5 | |||||||||||
R&M | |||||||||||||||||||||
Capital expenditures and investments | 363 | 510 | 674 | 722 | 2,269 | 496 | 523 | 352 | 355 | 1,726 | |||||||||||
Loans and advances | - | 2 | 1 | - | 3 | - | - | 150 | 200 | 350 | |||||||||||
R&M total | 363 | 512 | 675 | 722 | 2,272 | 496 | 523 | 502 | 555 | 2,076 | |||||||||||
LUKOIL Investment* | - | - | - | - | - | - | - | - | - | - | |||||||||||
Chemicals* | - | - | - | - | - | - | - | - | - | - | |||||||||||
Emerging Businesses* | 61 | 51 | 25 | 19 | 156 | 17 | 56 | 16 | 8 | 97 | |||||||||||
Corporate and Other* | 80 | 31 | 37 | 66 | 214 | 16 | 31 | 28 | 59 | 134 | |||||||||||
Total Capital Program | 3,534 | 3,633 | 3,991 | 8,697 | 19,855 | 3,147 | 2,861 | 2,937 | 3,066 | 12,011 | |||||||||||
* Capital expenditures and investments only. |
Page 4 of 12
TOTAL E&P | ||||||||||||||||||
2008 | 2009 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
E&P Net Income (Loss) Attributable | ||||||||||||||||||
to ConocoPhillips ($ Millions) | 2,887 | 3,999 | 3,928 | (24,293 | ) | (13,479 | ) | 700 | 725 | 978 | 1,201 | 3,604 | ||||||
Production | ||||||||||||||||||
Total, Including Equity Affiliates | ||||||||||||||||||
and Canadian Syncrude (MBOE/D) | 1,794 | 1,750 | 1,748 | 1,867 | 1,789 | 1,925 | 1,872 | 1,791 | 1,828 | 1,854 | ||||||||
E&P segment plus LUKOIL Investment segment: | 2,253 | 2,198 | 2,170 | 2,318 | 2,234 | 2,364 | 2,314 | 2,215 | 2,259 | 2,288 | ||||||||
Crude Oil and Condensate (MB/D) | ||||||||||||||||||
Consolidated | 758 | 731 | 718 | 803 | 752 | 817 | 763 | 725 | 763 | 767 | ||||||||
Equity affiliates | 45 | 41 | 63 | 67 | 54 | 84 | 96 | 104 | 109 | 98 | ||||||||
Total | 803 | 772 | 781 | 870 | 806 | 901 | 859 | 829 | 872 | 865 | ||||||||
Sales of Crude Oil Produced (MB/D) | 773 | 803 | 776 | 853 | 801 | 911 | 860 | 846 | 855 | 868 | ||||||||
Natural Gas Liquids (MB/D) | 154 | 156 | 148 | 155 | 153 | 153 | 155 | 146 | 157 | 153 | ||||||||
Natural Gas (MMCF/D) | ||||||||||||||||||
Consolidated | 4,900 | 4,818 | 4,769 | 4,854 | 4,836 | 5,011 | 4,957 | 4,658 | 4,556 | 4,793 | ||||||||
Equity affiliates | - | - | - | 45 | 11 | 76 | 94 | 88 | 76 | 84 | ||||||||
Total | 4,900 | 4,818 | 4,769 | 4,899 | 4,847 | 5,087 | 5,051 | 4,746 | 4,632 | 4,877 | ||||||||
Canadian Syncrude (MB/D) | 20 | 19 | 24 | 25 | 22 | 23 | 16 | 25 | 27 | 23 | ||||||||
Industry Prices (Platt's) | ||||||||||||||||||
Crude Oil ($/bbl) | ||||||||||||||||||
WTI spot | 97.94 | 123.98 | 117.83 | 58.49 | 99.56 | 42.97 | 59.54 | 68.19 | 76.06 | 61.69 | ||||||||
Brent dated | 96.90 | 121.38 | 114.78 | 54.91 | 96.99 | 44.40 | 58.79 | 68.28 | 74.56 | 61.51 | ||||||||
Natural Gas ($/mmbtu) | ||||||||||||||||||
Henry Hub -- First of Month | 8.03 | 10.94 | 10.25 | 6.95 | 9.04 | 4.91 | 3.51 | 3.39 | 4.16 | 3.99 | ||||||||
Average Realized Prices | ||||||||||||||||||
Crude Oil and Condensate ($/bbl) | ||||||||||||||||||
Consolidated | 94.71 | 119.24 | 114.20 | 55.11 | 95.15 | 42.36 | 56.11 | 67.01 | 73.31 | 59.34 | ||||||||
Equity affiliates | 62.78 | 93.20 | 88.32 | 25.35 | 63.89 | 33.61 | 51.89 | 58.07 | 63.12 | 52.74 | ||||||||
Total | 92.88 | 118.01 | 112.19 | 52.82 | 93.12 | 41.56 | 55.63 | 65.92 | 72.05 | 58.60 | ||||||||
Natural Gas Liquids ($/bbl) | 60.14 | 68.42 | 68.81 | 32.57 | 57.43 | 27.53 | 28.73 | 34.62 | 44.37 | 34.01 | ||||||||
Natural Gas ($/MCF) | ||||||||||||||||||
Consolidated | 8.03 | 9.87 | 8.91 | 6.37 | 8.28 | 4.98 | 3.72 | 3.69 | 4.81 | 4.30 | ||||||||
Equity affiliates | - | - | - | 2.04 | 2.04 | 2.10 | 2.10 | 2.57 | 2.62 | 2.35 | ||||||||
Total | 8.03 | 9.87 | 8.91 | 6.32 | 8.27 | 4.93 | 3.69 | 3.67 | 4.77 | 4.26 | ||||||||
Exploration Charges ($ Millions) | ||||||||||||||||||
Dry holes | 94 | 68 | 58 | 205 | 425 | 80 | 66 | 162 | 51 | 359 | ||||||||
Lease impairments | 60 | 59 | 60 | 94 | 273 | 43 | 49 | 71 | 84 | 247 | ||||||||
Total Noncash Charges | 154 | 127 | 118 | 299 | 698 | 123 | 115 | 233 | 135 | 606 | ||||||||
Other (G&G and Lease rentals) | 155 | 161 | 149 | 174 | 639 | 102 | 128 | 153 | 193 | 576 | ||||||||
Total Exploration Charges | 309 | 288 | 267 | 473 | 1,337 | 225 | 243 | 386 | 328 | 1,182 | ||||||||
Depreciation, Depletion and | ||||||||||||||||||
Amortization (DD&A) ($ Millions) | 1,946 | 1,940 | 2,123 | 2,019 | 8,028 | 1,994 | 2,127 | 2,082 | 2,134 | 8,337 | ||||||||
Foreign Currency Gains | ||||||||||||||||||
(Losses) After-Tax ($ Millions) | (10 | ) | 2 | 118 | 106 | 216 | (98 | ) | (22 | ) | (11 | ) | 20 | (111 | ) |
Page 5 of 12
U.S. E&P | ||||||||||||||||
2008 | 2009 | |||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||
U.S. E&P Net Income (Loss) Attributable | ||||||||||||||||
to ConocoPhillips ($ Millions) | 1,349 | 1,852 | 1,606 | 181 | 4,988 | 173 | 336 | 327 | 667 | 1,503 | ||||||
Alaska ($ Millions) | 603 | 700 | 556 | 456 | 2,315 | 244 | 404 | 356 | 536 | 1,540 | ||||||
Lower 48 ($ Millions) | 746 | 1,152 | 1,050 | (275 | ) | 2,673 | (71 | ) | (68 | ) | (29 | ) | 131 | (37 | ) | |
Production | ||||||||||||||||
Total U.S. (MBOE/D) | 783 | 787 | 736 | 790 | 775 | 791 | 771 | 737 | 722 | 755 | ||||||
Crude Oil and Condensate (MB/D) | ||||||||||||||||
Alaska | 254 | 244 | 218 | 258 | 244 | 254 | 236 | 218 | 234 | 235 | ||||||
Lower 48 | 97 | 95 | 85 | 88 | 91 | 92 | 92 | 91 | 89 | 91 | ||||||
Total | 351 | 339 | 303 | 346 | 335 | 346 | 328 | 309 | 323 | 326 | ||||||
Sales of Crude Oil Produced (MB/D) | 344 | 353 | 299 | 340 | 334 | 358 | 349 | 304 | 331 | 336 | ||||||
Natural Gas Liquids (MB/D)* | ||||||||||||||||
Alaska | 19 | 17 | 13 | 20 | 17 | 21 | 16 | 11 | 18 | 17 | ||||||
Lower 48 | 69 | 76 | 74 | 75 | 74 | 71 | 78 | 77 | 76 | 75 | ||||||
Total | 88 | 93 | 87 | 95 | 91 | 92 | 94 | 88 | 94 | 92 | ||||||
*Includes reinjection volumes sold lease-to-lease: | 13 | 11 | 8 | 11 | 11 | 12 | 11 | 7 | 7 | 9 | ||||||
Natural Gas (MMCF/D) | ||||||||||||||||
Alaska | 100 | 98 | 102 | 88 | 97 | 92 | 83 | 105 | 95 | 94 | ||||||
Lower 48 | 1,963 | 2,034 | 1,971 | 2,007 | 1,994 | 2,027 | 2,012 | 1,938 | 1,736 | 1,927 | ||||||
Total | 2,063 | 2,132 | 2,073 | 2,095 | 2,091 | 2,119 | 2,095 | 2,043 | 1,831 | 2,021 | ||||||
Average Realized Prices | ||||||||||||||||
Crude Oil and Condensate ($/bbl) | ||||||||||||||||
Alaska | ||||||||||||||||
North Slope | 89.07 | 112.23 | 115.11 | 57.63 | 92.73 | 35.21 | 49.42 | 61.80 | 68.03 | 52.98 | ||||||
West Coast | 95.47 | 118.88 | 121.51 | 64.13 | 99.23 | 41.75 | 55.24 | 67.91 | 74.34 | 59.19 | ||||||
Lower 48 | 90.35 | 118.06 | 112.36 | 49.36 | 92.77 | 37.32 | 54.81 | 62.27 | 69.91 | 56.06 | ||||||
Total U.S. | 94.02 | 118.66 | 118.90 | 60.32 | 97.47 | 40.60 | 55.13 | 66.22 | 73.14 | 58.34 | ||||||
Natural Gas Liquids ($/bbl) | ||||||||||||||||
Alaska | 94.27 | 117.24 | 119.29 | 64.23 | 94.29 | 41.76 | 55.68 | 67.45 | 74.60 | 60.46 | ||||||
Lower 48 | 55.33 | 62.27 | 65.11 | 26.70 | 52.28 | 22.41 | 25.80 | 30.61 | 39.23 | 29.65 | ||||||
Total U.S. | 58.33 | 65.96 | 68.84 | 30.61 | 55.63 | 24.52 | 27.73 | 32.45 | 43.72 | 32.36 | ||||||
Natural Gas ($/MCF) | ||||||||||||||||
Alaska | 4.31 | 3.81 | 4.36 | 4.90 | 4.38 | 7.69 | 6.38 | 4.87 | 5.22 | 6.25 | ||||||
Lower 48 | 7.67 | 9.74 | 8.67 | 4.76 | 7.71 | 3.76 | 2.97 | 2.98 | 4.03 | 3.42 | ||||||
Total U.S. | 7.63 | 9.69 | 8.64 | 4.76 | 7.67 | 3.82 | 3.00 | 2.99 | 4.05 | 3.45 | ||||||
Kenai, Alaska LNG Sales | ||||||||||||||||
Volume (MMCF/D) | 63 | 72 | 89 | 74 | 74 | 43 | 47 | 82 | 64 | 59 | ||||||
Sales price per MCF | 6.72 | 7.15 | 7.77 | 8.65 | 7.62 | 6.29 | 7.20 | 8.29 | 11.02 | 8.45 | ||||||
U.S. Exploration Charges ($ Millions) | ||||||||||||||||
Dry holes | 25 | 20 | 6 | 137 | 188 | 58 | 30 | 49 | 29 | 166 | ||||||
Lease impairments | 42 | 40 | 43 | 65 | 190 | 26 | 28 | 27 | 62 | 143 | ||||||
Total Noncash Charges | 67 | 60 | 49 | 202 | 378 | 84 | 58 | 76 | 91 | 309 | ||||||
Other (G&G and Lease rentals) | 39 | 50 | 42 | 61 | 192 | 30 | 35 | 58 | 72 | 195 | ||||||
Total U.S. Exploration Charges | 106 | 110 | 91 | 263 | 570 | 114 | 93 | 134 | 163 | 504 | ||||||
Alaska Only | 11 | 25 | 19 | 45 | 100 | 34 | 8 | 11 | 17 | 70 | ||||||
DD&A ($ Millions) | ||||||||||||||||
Alaska | 149 | 163 | 152 | 186 | 650 | 173 | 185 | 167 | 169 | 694 | ||||||
Lower 48 | 616 | 613 | 649 | 577 | 2,455 | 651 | 683 | 671 | 642 | 2,647 | ||||||
Total U.S. | 765 | 776 | 801 | 763 | 3,105 | 824 | 868 | 838 | 811 | 3,341 |
Page 6 of 12
INTERNATIONAL E&P | |||||||||||
2008 | 2009 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
International E&P Net Income (Loss) | |||||||||||
Attributable to ConocoPhillips ($ Millions) | 1,538 | 2,147 | 2,322 | 969 | 6,976 | 527 | 389 | 651 | 534 | 2,101 | |
Production | |||||||||||
Total, Including Equity Affiliates | |||||||||||
and Canadian Syncrude (MBOE/D) | 1,011 | 963 | 1,012 | 1,077 | 1,014 | 1,134 | 1,101 | 1,054 | 1,106 | 1,099 | |
Crude Oil and Condensate (MB/D) | |||||||||||
Consolidated | |||||||||||
Norway | 153 | 145 | 164 | 163 | 156 | 161 | 147 | 143 | 151 | 151 | |
United Kingdom | 48 | 49 | 57 | 78 | 58 | 79 | 76 | 64 | 72 | 73 | |
Canada | 23 | 24 | 25 | 27 | 25 | 24 | 23 | 24 | 22 | 23 | |
China | 33 | 32 | 31 | 36 | 33 | 40 | 41 | 53 | 60 | 49 | |
Indonesia | 16 | 15 | 15 | 15 | 15 | 26 | 16 | 9 | 10 | 15 | |
Vietnam | 20 | 18 | 19 | 28 | 21 | 36 | 31 | 27 | 24 | 29 | |
Timor Sea | 23 | 21 | 22 | 20 | 22 | 21 | 21 | 21 | 22 | 21 | |
Libya | 47 | 48 | 42 | 50 | 47 | 43 | 43 | 45 | 48 | 45 | |
Nigeria | 20 | 18 | 18 | 17 | 18 | 17 | 16 | 16 | 17 | 17 | |
Other | 24 | 22 | 22 | 23 | 22 | 24 | 21 | 14 | 14 | 18 | |
Total consolidated | 407 | 392 | 415 | 457 | 417 | 471 | 435 | 416 | 440 | 441 | |
Equity affiliates | |||||||||||
Canada | 29 | 25 | 32 | 35 | 30 | 35 | 41 | 45 | 52 | 43 | |
Russia | 16 | 16 | 31 | 32 | 24 | 49 | 55 | 59 | 57 | 55 | |
Total equity affiliates | 45 | 41 | 63 | 67 | 54 | 84 | 96 | 104 | 109 | 98 | |
Total | 452 | 433 | 478 | 524 | 471 | 555 | 531 | 520 | 549 | 539 | |
Sales of crude oil produced (MB/D) | 429 | 450 | 477 | 513 | 467 | 553 | 511 | 542 | 524 | 532 | |
Natural Gas Liquids (MB/D) | |||||||||||
Norway | 13 | 11 | 9 | 11 | 11 | 11 | 8 | 7 | 9 | 9 | |
United Kingdom | 10 | 8 | 6 | 8 | 8 | 8 | 9 | 7 | 9 | 8 | |
Indonesia | - | 3 | 4 | 2 | 2 | 3 | 3 | 3 | 4 | 4 | |
Timor Sea | 15 | 14 | 15 | 13 | 14 | 14 | 14 | 15 | 14 | 14 | |
Canada | 26 | 25 | 24 | 24 | 25 | 23 | 24 | 23 | 24 | 24 | |
Nigeria | 2 | 2 | 3 | 2 | 2 | 2 | 3 | 3 | 3 | 2 | |
Total | 66 | 63 | 61 | 60 | 62 | 61 | 61 | 58 | 63 | 61 | |
Natural Gas (MMCF/D) | |||||||||||
Consolidated | |||||||||||
Norway | 273 | 205 | 222 | 257 | 239 | 259 | 196 | 188 | 225 | 217 | |
United Kingdom | 695 | 623 | 581 | 757 | 664 | 742 | 653 | 514 | 728 | 659 | |
China | 10 | 9 | - | - | 5 | - | - | - | - | - | |
Indonesia | 314 | 360 | 361 | 336 | 343 | 449 | 451 | 443 | 450 | 447 | |
Timor Sea | 246 | 231 | 266 | 236 | 245 | 247 | 258 | 266 | 233 | 251 | |
Vietnam | 16 | 16 | 21 | 11 | 16 | 17 | 12 | 17 | 16 | 15 | |
Canada | 1,101 | 1,055 | 1,061 | 1,001 | 1,054 | 1,066 | 1,174 | 1,063 | 945 | 1,062 | |
Libya | 9 | 9 | 6 | 9 | 8 | 8 | 8 | 12 | 12 | 10 | |
Nigeria | 96 | 107 | 116 | 102 | 105 | 104 | 110 | 112 | 116 | 111 | |
Other | 77 | 71 | 62 | 50 | 66 | - | - | - | - | - | |
Total consolidated | 2,837 | 2,686 | 2,696 | 2,759 | 2,745 | 2,892 | 2,862 | 2,615 | 2,725 | 2,772 | |
Equity affiliates | |||||||||||
Australia | - | - | - | 45 | 11 | 76 | 94 | 88 | 76 | 84 | |
Total | 2,837 | 2,686 | 2,696 | 2,804 | 2,756 | 2,968 | 2,956 | 2,703 | 2,801 | 2,856 | |
Canadian Syncrude (MB/D) | 20 | 19 | 24 | 25 | 22 | 23 | 16 | 25 | 27 | 23 | |
Darwin, Australia LNG Sales (MMCF/D) | 417 | 396 | 464 | 460 | 434 | 438 | 430 | 453 | 391 | 428 |
Page 7 of 12
INTERNATIONAL E&P (continued) | ||||||||||||
2008 | 2009 | |||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||
Average Realized Prices | ||||||||||||
Crude Oil and Condensate ($/bbl) | ||||||||||||
Consolidated | ||||||||||||
Norway | 97.27 | 122.34 | 115.67 | 55.95 | 97.54 | 46.52 | 59.76 | 69.00 | 74.39 | 62.08 | ||
United Kingdom | 93.96 | 118.79 | 107.54 | 51.14 | 90.67 | 43.62 | 55.62 | 67.27 | 73.26 | 58.51 | ||
Canada | 84.49 | 108.43 | 99.77 | 34.36 | 80.18 | 33.76 | 47.46 | 56.78 | 59.35 | 49.16 | ||
China | 93.69 | 120.63 | 111.93 | 46.41 | 91.51 | 38.17 | 57.72 | 65.97 | 73.72 | 61.33 | ||
Indonesia | 92.48 | 109.83 | 108.47 | 53.08 | 90.98 | 42.71 | 56.00 | 86.28 | 78.63 | 58.65 | ||
Vietnam | 98.31 | 126.11 | 122.45 | 54.02 | 96.57 | 42.75 | 58.00 | 70.27 | 79.64 | 60.97 | ||
Timor Sea | 93.85 | 114.20 | 103.11 | 38.05 | 86.91 | 43.61 | 47.29 | 59.54 | 65.71 | 54.07 | ||
Libya | 95.21 | 120.86 | 108.33 | 53.48 | 93.22 | 44.22 | 57.30 | 67.93 | 73.99 | 62.38 | ||
Nigeria | 99.49 | 126.55 | 104.25 | 50.34 | 96.82 | 47.20 | 56.41 | 72.19 | 76.04 | 63.09 | ||
Other | 95.73 | 112.85 | 103.11 | 48.42 | 89.53 | 43.15 | 61.26 | 64.67 | 76.81 | 59.84 | ||
Total consolidated | 95.32 | 119.75 | 110.84 | 51.15 | 93.30 | 43.70 | 56.93 | 67.56 | 73.45 | 60.11 | ||
Equity affiliates | ||||||||||||
Canada | 57.95 | 96.78 | 81.32 | 9.53 | 58.54 | 24.64 | 46.90 | 49.81 | 55.07 | 45.69 | ||
Russia | 70.41 | 86.00 | 96.67 | 42.95 | 71.15 | 39.92 | 55.44 | 64.31 | 70.69 | 58.23 | ||
Total equity affiliates | 62.78 | 93.20 | 88.32 | 25.35 | 63.89 | 33.61 | 51.89 | 58.07 | 63.12 | 52.74 | ||
Total | 91.96 | 117.49 | 107.99 | 47.84 | 90.01 | 42.17 | 55.97 | 65.74 | 71.36 | 58.76 | ||
Natural Gas Liquids ($/bbl) | ||||||||||||
Norway | 54.48 | 59.19 | 56.67 | 39.00 | 53.04 | 29.21 | 26.39 | 33.91 | 41.43 | 32.52 | ||
United Kingdom | 55.88 | 66.90 | 60.43 | 28.48 | 53.65 | 23.76 | 31.65 | 41.75 | 43.92 | 36.24 | ||
Indonesia | - | 70.77 | 74.37 | 31.64 | 62.84 | 39.49 | 34.74 | 47.03 | 58.96 | 45.19 | ||
Timor Sea | 69.79 | 74.03 | 73.79 | 41.61 | 64.54 | 37.99 | 35.81 | 46.26 | 57.67 | 44.89 | ||
Canada | 68.84 | 83.57 | 77.49 | 35.19 | 66.40 | 31.38 | 29.17 | 33.42 | 41.26 | 33.86 | ||
Nigeria | 8.46 | 8.46 | 8.56 | 8.56 | 8.51 | 8.78 | 8.79 | 8.69 | 8.69 | 8.73 | ||
Total | 62.20 | 71.40 | 68.78 | 35.25 | 59.70 | 31.64 | 30.04 | 37.48 | 45.25 | 36.22 | ||
Natural Gas ($/mcf) | ||||||||||||
Consolidated | ||||||||||||
Norway | 10.27 | 11.75 | 12.79 | 10.70 | 11.28 | 9.68 | 7.09 | 6.24 | 6.64 | 7.52 | ||
United Kingdom | 9.20 | 10.48 | 10.20 | 11.07 | 10.26 | 8.75 | 5.60 | 5.74 | 5.81 | 6.57 | ||
China | 3.60 | 3.69 | - | - | 3.64 | - | - | - | - | - | ||
Indonesia | 10.33 | 12.14 | 12.35 | 6.17 | 10.36 | 4.74 | 5.91 | 7.15 | 7.72 | 6.39 | ||
Timor Sea | 0.79 | 0.90 | 0.97 | 1.17 | 0.96 | 1.16 | 0.66 | 0.82 | 1.16 | 0.95 | ||
Vietnam | 1.14 | 1.12 | 1.13 | 1.16 | 1.13 | 1.14 | 1.13 | 1.15 | 1.17 | 1.15 | ||
Canada | 7.81 | 10.19 | 8.03 | 5.56 | 7.92 | 4.13 | 2.84 | 2.53 | 3.97 | 3.33 | ||
Libya | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | ||
Nigeria | 0.98 | 1.19 | 1.25 | 1.09 | 1.13 | 0.84 | 0.83 | 0.73 | 3.92 | 1.62 | ||
Other | 7.49 | 8.56 | 9.08 | 11.51 | 8.92 | - | - | - | - | - | ||
Total consolidated | 8.32 | 10.02 | 9.13 | 7.65 | 8.76 | 5.87 | 4.27 | 4.26 | 5.34 | 4.94 | ||
Equity affiliates | ||||||||||||
Australia | - | - | - | 2.04 | 2.04 | 2.10 | 2.10 | 2.57 | 2.62 | 2.35 | ||
Total | 8.32 | 10.02 | 9.13 | 7.55 | 8.73 | 5.76 | 4.19 | 4.20 | 5.26 | 4.86 | ||
International Exploration Charges ($ Millions) | ||||||||||||
Dry holes | 69 | 48 | 52 | 68 | 237 | 22 | 36 | 113 | 22 | 193 | ||
Lease impairments | 18 | 19 | 17 | 29 | 83 | 17 | 21 | 44 | 22 | 104 | ||
Total Noncash Charges | 87 | 67 | 69 | 97 | 320 | 39 | 57 | 157 | 44 | 297 | ||
Other (G&G and Lease rentals) | 116 | 111 | 107 | 113 | 447 | 72 | 93 | 95 | 121 | 381 | ||
Total International Exploration Charges | 203 | 178 | 176 | 210 | 767 | 111 | 150 | 252 | 165 | 678 | ||
DD&A ($ Millions) | 1,181 | 1,164 | 1,322 | 1,256 | 4,923 | 1,170 | 1,259 | 1,244 | 1,323 | 4,996 |
Page 8 of 12
R&M | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
R&M Net Income (Loss) Attributable | |||||||||||||||||||||
to ConocoPhillips ($ Millions) | 520 | 664 | 849 | 289 | 2,322 | 205 | (52 | ) | 99 | (215 | ) | 37 | |||||||||
United States ($ Millions) | 435 | 587 | 524 | (6 | ) | 1,540 | 98 | (38 | ) | 73 | (325 | ) | (192 | ) | |||||||
International ($ Millions) | 85 | 77 | 325 | 295 | 782 | 107 | (14 | ) | 26 | 110 | 229 | ||||||||||
Market Indicators | |||||||||||||||||||||
U.S. East Coast Crack Spread ($/bbl) | 7.79 | 10.93 | 10.43 | 5.66 | 8.70 | 10.43 | 9.13 | 8.14 | 6.19 | 8.47 | |||||||||||
U.S. Gulf Coast Crack Spread ($/bbl) | 7.90 | 12.11 | 14.70 | 2.80 | 9.38 | 9.06 | 8.39 | 6.74 | 4.46 | 7.16 | |||||||||||
U.S. Group Central Crack Spread ($/bbl) | 10.26 | 13.47 | 14.38 | 6.00 | 11.03 | 9.62 | 9.16 | 8.06 | 5.52 | 8.09 | |||||||||||
U.S. West Coast Crack Spread ($/bbl) | 15.37 | 21.91 | 16.34 | 11.46 | 16.27 | 15.79 | 15.11 | 13.89 | 8.75 | 13.38 | |||||||||||
U.S. Weighted 3:2:1 Crack Spread ($/bbl) | 9.94 | 14.19 | 14.07 | 5.89 | 11.02 | 10.88 | 10.12 | 8.81 | 5.95 | 8.94 | |||||||||||
NW Europe Crack Spread ($/bbl) | 16.09 | 25.78 | 21.10 | 17.58 | 20.14 | 10.81 | 9.42 | 8.44 | 8.14 | 9.20 | |||||||||||
Singapore 3:1:2 Crack Spread ($/bbl) | 19.90 | 29.35 | 19.10 | 13.01 | 20.34 | 9.45 | 7.88 | 7.63 | 5.83 | 7.70 | |||||||||||
Realized Margins | |||||||||||||||||||||
Refining Margin ($/bbl) | |||||||||||||||||||||
U.S. | 8.00 | 10.29 | 9.03 | 6.96 | 8.57 | 7.55 | 4.85 | 4.69 | 2.42 | 4.83 | |||||||||||
International | 6.42 | 6.70 | 11.24 | 8.31 | 8.07 | 6.23 | 3.01 | 3.66 | 6.24 | 4.73 | |||||||||||
Integrated Margin ($/bbl) | |||||||||||||||||||||
U.S. | 8.29 | 10.71 | 10.38 | 8.20 | 9.40 | 8.23 | 5.40 | 5.92 | 3.48 | 5.71 | |||||||||||
International | 8.34 | 9.11 | 18.06 | 13.28 | 12.06 | 8.30 | 4.61 | 6.16 | 8.92 | 6.93 | |||||||||||
DD&A ($ Millions) | 208 | 206 | 211 | 214 | 839 | 211 | 198 | 220 | 227 | 856 | |||||||||||
Foreign Currency Gains | |||||||||||||||||||||
(Losses) After-Tax ($ Millions) | 38 | (13 | ) | (127 | ) | (71 | ) | (173 | ) | (10 | ) | 49 | 2 | (5 | ) | 36 | |||||
Turnaround Expense ($ Millions) | 90 | 170 | 73 | 70 | 403 | 207 | 121 | 62 | 145 | 535 | |||||||||||
Eastern U.S. | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 340 | 405 | 412 | 390 | 387 | 346 | 376 | 393 | 374 | 372 | |||||||||||
Total Charge Input (MB/D) | 400 | 441 | 450 | 445 | 434 | 363 | 427 | 443 | 410 | 411 | |||||||||||
Crude Oil Capacity Utilization (%) | 80 | % | 96 | % | 97 | % | 92 | % | 91 | % | 82 | % | 89 | % | 93 | % | 88 | % | 88 | % | |
Clean Product Yield (%) | 89 | % | 87 | % | 86 | % | 90 | % | 88 | % | 83 | % | 87 | % | 89 | % | 89 | % | 87 | % | |
U.S. Gulf Coast | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 659 | 720 | 572 | 686 | 659 | 470 | 711 | 660 | 554 | 599 | |||||||||||
Total Charge Input (MB/D) | 732 | 810 | 641 | 773 | 739 | 534 | 773 | 725 | 629 | 664 | |||||||||||
Crude Oil Capacity Utilization (%) | 90 | % | 98 | % | 78 | % | 94 | % | 90 | % | 64 | % | 97 | % | 90 | % | 75 | % | 82 | % | |
Clean Product Yield (%) | 81 | % | 76 | % | 77 | % | 82 | % | 79 | % | 81 | % | 83 | % | 80 | % | 81 | % | 81 | % | |
Western U.S. | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 405 | 343 | 417 | 407 | 393 | 402 | 380 | 397 | 386 | 391 | |||||||||||
Total Charge Input (MB/D) | 425 | 396 | 439 | 431 | 422 | 424 | 405 | 423 | 412 | 416 | |||||||||||
Crude Oil Capacity Utilization (%) | 97 | % | 82 | % | 100 | % | 98 | % | 94 | % | 96 | % | 91 | % | 95 | % | 93 | % | 94 | % | |
Clean Product Yield (%) | 80 | % | 78 | % | 82 | % | 82 | % | 81 | % | 79 | % | 80 | % | 81 | % | 84 | % | 81 | % | |
Central U.S. - Consolidated | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 177 | 182 | 184 | 163 | 177 | 172 | 184 | 179 | 152 | 172 | |||||||||||
Total Charge Input (MB/D) | 179 | 184 | 187 | 166 | 179 | 175 | 188 | 182 | 154 | 175 | |||||||||||
Crude Oil Capacity Utilization (%) | 95 | % | 97 | % | 98 | % | 87 | % | 94 | % | 92 | % | 98 | % | 96 | % | 81 | % | 92 | % | |
Clean Product Yield (%) | 88 | % | 89 | % | 93 | % | 91 | % | 90 | % | 90 | % | 91 | % | 93 | % | 91 | % | 91 | % | |
Central U.S. - Equity Affiliates - Net Share* | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 225 | 241 | 228 | 239 | 233 | 199 | 202 | 212 | 174 | 197 | |||||||||||
Total Charge Input (MB/D) | 241 | 258 | 246 | 253 | 250 | 213 | 215 | 224 | 186 | 210 | |||||||||||
Crude Oil Capacity Utilization (%) | 91 | % | 97 | % | 92 | % | 96 | % | 94 | % | 88 | % | 89 | % | 94 | % | 77 | % | 87 | % | |
Clean Product Yield (%) | 84 | % | 84 | % | 85 | % | 84 | % | 84 | % | 81 | % | 84 | % | 85 | % | 82 | % | 83 | % | |
TOTAL UNITED STATES | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 1,806 | 1,891 | 1,813 | 1,885 | 1,849 | 1,589 | 1,852 | 1,841 | 1,640 | 1,731 | |||||||||||
Total Charge Input (MB/D) | 1,977 | 2,089 | 1,963 | 2,068 | 2,024 | 1,709 | 2,008 | 1,997 | 1,791 | 1,876 | |||||||||||
Crude Oil Capacity Utilization (%) | 90 | % | 94 | % | 90 | % | 94 | % | 92 | % | 80 | % | 93 | % | 93 | % | 83 | % | 87 | % | |
Clean Product Yield (%) | 83 | % | 81 | % | 83 | % | 85 | % | 83 | % | 82 | % | 84 | % | 84 | % | 85 | % | 84 | % | |
Refined Products Production (MB/D) | |||||||||||||||||||||
Gasoline | 892 | 876 | 852 | 929 | 887 | 755 | 904 | 912 | 816 | 847 | |||||||||||
Distillates | 719 | 775 | 743 | 791 | 757 | 623 | 748 | 725 | 665 | 691 | |||||||||||
Other | 380 | 444 | 380 | 359 | 391 | 338 | 366 | 380 | 326 | 353 | |||||||||||
Total | 1,991 | 2,095 | 1,975 | 2,079 | 2,035 | 1,716 | 2,018 | 2,017 | 1,807 | 1,891 | |||||||||||
Petroleum Products Sales (MB/D) | |||||||||||||||||||||
Gasoline | 1,070 | 1,127 | 1,089 | 1,227 | 1,128 | 1,037 | 1,180 | 1,188 | 1,112 | 1,130 | |||||||||||
Distillates | 869 | 912 | 858 | 934 | 893 | 749 | 924 | 906 | 853 | 858 | |||||||||||
Other | 384 | 404 | 365 | 342 | 374 | 328 | 378 | 420 | 342 | 367 | |||||||||||
Total | 2,323 | 2,443 | 2,312 | 2,503 | 2,395 | 2,114 | 2,482 | 2,514 | 2,307 | 2,355 | |||||||||||
* Amount reflects our 50 percent share of the Borger refinery effective January 1, 2009. We had a 65 percent share of Borger in 2008. |
Page 9 of 12
R&M (continued) | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
International - Consolidated* | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 455 | 466 | 383 | 475 | 445 | 453 | 364 | 422 | 288 | 381 | |||||||||||
Total Charge Input (MB/D) | 463 | 479 | 404 | 493 | 460 | 465 | 380 | 430 | 296 | 393 | |||||||||||
Crude Oil Capacity Utilization (%) | 82 | % | 84 | % | 69 | % | 86 | % | 81 | % | 82 | % | 66 | % | 76 | % | 52 | % | 69 | % | |
Clean Product Yield (%) | 65 | % | 69 | % | 74 | % | 71 | % | 70 | % | 72 | % | 69 | % | 69 | % | 76 | % | 71 | % | |
International - Equity Affiliates - Net Share** | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 123 | 123 | 122 | 122 | 122 | 114 | 121 | 119 | 100 | 114 | |||||||||||
Total Charge Input (MB/D) | 124 | 124 | 124 | 127 | 125 | 122 | 129 | 126 | 105 | 120 | |||||||||||
Crude Oil Capacity Utilization (%) | 104 | % | 104 | % | 103 | % | 103 | % | 104 | % | 96 | % | 102 | % | 101 | % | 84 | % | 95 | % | |
Clean Product Yield (%) | 86 | % | 83 | % | 89 | % | 85 | % | 86 | % | 87 | % | 81 | % | 85 | % | 86 | % | 85 | % | |
TOTAL INTERNATIONAL | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 578 | 589 | 505 | 597 | 567 | 567 | 485 | 541 | 388 | 495 | |||||||||||
Total Charge Input (MB/D) | 587 | 603 | 528 | 620 | 585 | 587 | 509 | 556 | 401 | 513 | |||||||||||
Crude Oil Capacity Utilization (%) | 86 | % | 88 | % | 75 | % | 89 | % | 85 | % | 85 | % | 72 | % | 81 | % | 58 | % | 74 | % | |
Clean Product Yield (%) | 70 | % | 72 | % | 77 | % | 74 | % | 73 | % | 75 | % | 72 | % | 72 | % | 79 | % | 74 | % | |
Refined Products Production (MB/D) | |||||||||||||||||||||
Gasoline | 129 | 155 | 148 | 170 | 151 | 161 | 138 | 142 | 124 | 141 | |||||||||||
Distillates | 274 | 274 | 255 | 285 | 272 | 276 | 226 | 254 | 186 | 235 | |||||||||||
Other | 171 | 163 | 120 | 155 | 152 | 139 | 135 | 152 | 88 | 128 | |||||||||||
Total | 574 | 592 | 523 | 610 | 575 | 576 | 499 | 548 | 398 | 504 | |||||||||||
Petroleum Products Sales (MB/D) | |||||||||||||||||||||
Gasoline | 139 | 190 | 176 | 144 | 163 | 124 | 157 | 154 | 138 | 143 | |||||||||||
Distillates | 321 | 324 | 324 | 336 | 326 | 343 | 289 | 298 | 313 | 311 | |||||||||||
Other | 156 | 169 | 134 | 164 | 156 | 142 | 184 | 174 | 161 | 165 | |||||||||||
Total | 616 | 683 | 634 | 644 | 645 | 609 | 630 | 626 | 612 | 619 | |||||||||||
Worldwide - Including Net Share of Equity Affiliates | |||||||||||||||||||||
Crude Oil Charge Input (MB/D) | 2,384 | 2,480 | 2,318 | 2,482 | 2,416 | 2,156 | 2,337 | 2,382 | 2,028 | 2,226 | |||||||||||
Total Charge Input (MB/D) | 2,564 | 2,692 | 2,491 | 2,688 | 2,609 | 2,296 | 2,517 | 2,553 | 2,192 | 2,389 | |||||||||||
Crude Oil Capacity Utilization (%) | 89 | % | 93 | % | 87 | % | 93 | % | 90 | % | 81 | % | 88 | % | 90 | % | 76 | % | 84 | % | |
Clean Product Yield (%) | 80 | % | 79 | % | 82 | % | 82 | % | 81 | % | 80 | % | 82 | % | 81 | % | 84 | % | 82 | % | |
Refined Products Production (MB/D) | |||||||||||||||||||||
Gasoline | 1,021 | 1,031 | 1,000 | 1,099 | 1,038 | 916 | 1,042 | 1,054 | 940 | 988 | |||||||||||
Distillates | 993 | 1,049 | 998 | 1,076 | 1,029 | 899 | 974 | 979 | 851 | 926 | |||||||||||
Other | 551 | 607 | 500 | 514 | 543 | 477 | 501 | 532 | 414 | 481 | |||||||||||
Total | 2,565 | 2,687 | 2,498 | 2,689 | 2,610 | 2,292 | 2,517 | 2,565 | 2,205 | 2,395 | |||||||||||
Petroleum Products Sales (MB/D) | |||||||||||||||||||||
Gasoline | 1,209 | 1,317 | 1,265 | 1,371 | 1,291 | 1,161 | 1,337 | 1,342 | 1,250 | 1,273 | |||||||||||
Distillates | 1,190 | 1,236 | 1,182 | 1,270 | 1,219 | 1,092 | 1,213 | 1,204 | 1,166 | 1,169 | |||||||||||
Other | 540 | 573 | 499 | 506 | 530 | 470 | 562 | 594 | 503 | 532 | |||||||||||
Total | 2,939 | 3,126 | 2,946 | 3,147 | 3,040 | 2,723 | 3,112 | 3,140 | 2,919 | 2,974 | |||||||||||
* Represents our Humber refinery in the United Kingdom, the Whitegate refinery in Ireland, and our Wilhelmshaven refinery in Germany. | |||||||||||||||||||||
** Represents 18.75 percent interest in a refinery complex in Karlsruhe, Germany, and 47 percent interest in a refinery in Melaka, Malaysia. |
Page 10 of 12
LUKOIL INVESTMENT | |||||||||||||||
2008 | 2009 | ||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||
LUKOIL Investment Net Income (Loss) | |||||||||||||||
Attributable to ConocoPhillips ($ Millions) | 710 | 774 | 438 | (7,410 | ) | (5,488 | ) | 48 | 682 | 545 | 388 | 1,663 | |||
Upstream | |||||||||||||||
Production* | |||||||||||||||
Net crude oil production (MB/D) | 392 | 387 | 371 | 392 | 386 | 386 | 396 | 382 | 385 | 387 | |||||
Net natural gas production (MMCF/D) | 404 | 363 | 303 | 355 | 356 | 316 | 274 | 253 | 276 | 280 | |||||
BOE Total (MBOE/D) | 459 | 448 | 422 | 451 | 445 | 439 | 442 | 424 | 431 | 434 | |||||
* Represents our estimated net share of LUKOIL's production. | |||||||||||||||
Industry Prices | |||||||||||||||
Crude Oil ($/bbl) | |||||||||||||||
Urals crude (CIF Mediterranean) | 93.01 | 117.34 | 113.54 | 54.66 | 94.79 | 43.73 | 58.49 | 67.89 | 74.26 | 61.22 | |||||
Downstream | |||||||||||||||
Refinery Throughput* | |||||||||||||||
Crude Processed (MB/D)** | 222 | 215 | 228 | 250 | 229 | 203 | 246 | 273 | 256 | 245 | |||||
* Represents our estimated net share of LUKOIL's crude processed. | |||||||||||||||
** Second quarter of 2009 restated. | |||||||||||||||
Foreign Currency Gains | |||||||||||||||
(Losses) After-Tax ($ Millions) | (2 | ) | 3 | (17 | ) | (11 | ) | (27 | ) | 2 | 12 | 5 | 1 | 20 | |
MIDSTREAM | |||||||||||||||
2008 | 2009 | ||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||
Midstream Net Income Attributable | |||||||||||||||
to ConocoPhillips ($ Millions) | 137 | 162 | 173 | 69 | 541 | 123 | 31 | 62 | 97 | 313 | |||||
U.S. Equity Affiliate ($ Millions)* | 118 | 137 | 153 | 50 | 458 | 90 | 12 | 26 | 55 | 183 | |||||
Natural Gas Liquids Extracted (MB/D) | |||||||||||||||
Consolidated | |||||||||||||||
United States | - | - | - | - | - | - | - | - | - | - | |||||
International | - | - | - | - | - | - | - | - | - | - | |||||
Equity Affiliates | |||||||||||||||
United States* | 190 | 188 | 169 | 175 | 180 | 165 | 180 | 186 | 185 | 179 | |||||
International | 8 | 8 | 7 | 7 | 8 | 7 | 8 | 8 | 9 | 8 | |||||
Total | 198 | 196 | 176 | 182 | 188 | 172 | 188 | 194 | 194 | 187 | |||||
* Represents 50 percent interest in DCP Midstream. | |||||||||||||||
Natural Gas Liquids Fractionated (MB/D) | |||||||||||||||
United States* | 141 | 149 | 166 | 150 | 151 | 144 | 157 | 147 | 147 | 149 | |||||
International | 13 | 13 | 15 | 15 | 14 | 16 | 17 | 17 | 17 | 17 | |||||
Total | 154 | 162 | 181 | 165 | 165 | 160 | 174 | 164 | 164 | 166 | |||||
* Excludes DCP Midstream. | |||||||||||||||
Product Prices | |||||||||||||||
Weighted Average NGL ($/bbl)* | |||||||||||||||
Consolidated | 60.09 | 68.21 | 67.39 | 29.49 | 56.29 | 26.04 | 29.99 | 34.66 | 43.83 | 33.63 | |||||
DCP Midstream | 56.48 | 62.53 | 60.46 | 28.85 | 52.08 | 23.86 | 26.02 | 28.89 | 40.44 | 29.80 | |||||
* Prices are based on index prices from the Mont Belvieu and Conway market hubs that are weighted by natural gas liquids component and location mix. | |||||||||||||||
DD&A ($ Millions) | 2 | 1 | 2 | 1 | 6 | 2 | 1 | 1 | 2 | 6 |
Page 11 of 12
CHEMICALS | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
Chemicals Net Income (Loss) Attributable | |||||||||||||||||||||
to ConocoPhillips ($ Millions) | 52 | 18 | 46 | (6 | ) | 110 | 23 | 67 | 104 | 54 | 248 | ||||||||||
Industry Margins (Cents/Lb)* | |||||||||||||||||||||
Ethylene industry cash margin | 10.6 | 10.2 | 16.0 | 15.3 | 13.0 | 7.0 | 6.7 | 8.4 | 11.7 | 8.4 | |||||||||||
HDPE industry contract sales margin | 14.9 | 15.0 | 23.4 | 22.5 | 19.0 | 18.2 | 24.5 | 27.6 | 22.3 | 23.1 | |||||||||||
Styrene industry contract sales margin | 11.6 | 11.3 | 14.4 | 16.0 | 13.3 | 14.8 | 13.9 | 11.5 | 11.2 | 12.8 | |||||||||||
* Prices, economics and views expressed by CMAI are strictly the opinion of CMAI and Purvin & Gertz and are based on information collected within the public sector and on assessments by CMAI and Purvin & Gertz staff utilizing reasonable care consistent with normal industry practice. CMAI and Purvin & Gertz make no guarantee or warranty and assume no liability as to their use. | |||||||||||||||||||||
EMERGING BUSINESSES | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||||
Emerging Businesses Net Income (Loss) | |||||||||||||||||||||
Attributable to ConocoPhillips ($ Millions) | 12 | 8 | 35 | (25 | ) | 30 | - | 2 | (2 | ) | 3 | 3 | |||||||||
Detail of Net Income (Loss) | |||||||||||||||||||||
Attributable to ConocoPhillips ($ Millions) | |||||||||||||||||||||
Power | 27 | 26 | 53 | - | 106 | 24 | 27 | 22 | 32 | 105 | |||||||||||
Other | (15 | ) | (18 | ) | (18 | ) | (25 | ) | (76 | ) | (24 | ) | (25 | ) | (24 | ) | (29 | ) | (102 | ) | |
Total | 12 | 8 | 35 | (25 | ) | 30 | - | 2 | (2 | ) | 3 | 3 | |||||||||
Foreign Currency Gains | |||||||||||||||||||||
(Losses) After-Tax ($ Millions) | (1 | ) | 1 | (2 | ) | (5 | ) | (7 | ) | (1 | ) | 4 | (1 | ) | - | 2 | |||||
CORPORATE AND OTHER | |||||||||||||||||||||
2008 | 2009 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
Corporate and Other Net Income (Loss) | |||||||||||||||||||||
Attributable to ConocoPhillips ($ Millions) | (179 | ) | (186 | ) | (281 | ) | (388 | ) | (1,034 | ) | (259 | ) | (157 | ) | (283 | ) | (311 | ) | (1,010 | ) | |
Detail of Net Income (Loss) | |||||||||||||||||||||
Attributable to ConocoPhillips ($ Millions) | |||||||||||||||||||||
Net interest expense | (108 | ) | (119 | ) | (149 | ) | (182 | ) | (558 | ) | (190 | ) | (175 | ) | (245 | ) | (241 | ) | (851 | ) | |
Corporate overhead | (44 | ) | (68 | ) | (41 | ) | (49 | ) | (202 | ) | (41 | ) | (31 | ) | (5 | ) | (31 | ) | (108 | ) | |
Other | (27 | ) | 1 | (91 | ) | (157 | ) | (274 | ) | (28 | ) | 49 | (33 | ) | (39 | ) | (51 | ) | |||
Total | (179 | ) | (186 | ) | (281 | ) | (388 | ) | (1,034 | ) | (259 | ) | (157 | ) | (283 | ) | (311 | ) | (1,010 | ) | |
Before-Tax Net Interest Expense ($ Millions) | |||||||||||||||||||||
Interest expense | (319 | ) | (324 | ) | (326 | ) | (362 | ) | (1,331 | ) | (387 | ) | (360 | ) | (426 | ) | (447 | ) | (1,620 | ) | |
Capitalized interest | 157 | 157 | 130 | 125 | 569 | 118 | 131 | 129 | 109 | 487 | |||||||||||
Interest revenue | 72 | 14 | 28 | 14 | 128 | 40 | 10 | 9 | 30 | 89 | |||||||||||
Premium on early debt retirement | (14 | ) | - | - | (1 | ) | (15 | ) | (2 | ) | - | - | - | (2 | ) | ||||||
Total | (104 | ) | (153 | ) | (168 | ) | (224 | ) | (649 | ) | (231 | ) | (219 | ) | (288 | ) | (308 | ) | (1,046 | ) | |
Foreign Currency Gains | |||||||||||||||||||||
(Losses) After-Tax ($ Millions) | (3 | ) | 41 | (56 | ) | (54 | ) | (72 | ) | (1 | ) | 79 | 18 | 1 | 97 | ||||||
Debt | |||||||||||||||||||||
Total Debt ($ Millions) | 21,492 | 21,924 | 22,100 | 27,455 | 27,455 | 29,379 | 30,364 | 30,458 | 28,653 | 28,653 | |||||||||||
Debt-to-Capital Ratio | 19 | % | 19 | % | 19 | % | 33 | % | 33 | % | 34 | % | 34 | % | 33 | % | 31 | % | 31 | % | |
Equity ($ Millions) | 90,726 | 93,542 | 94,003 | 56,265 | 56,265 | 56,193 | 60,007 | 62,097 | 63,057 | 63,057 |
Page 12 of 12