Exhibit 99.2
2013 Detailed Supplemental Information | |||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | ||||||||||||
$ Millions, Except as Indicated | |||||||||||||||||||||
CONSOLIDATED INCOME STATEMENT | |||||||||||||||||||||
Revenues and Other Income | |||||||||||||||||||||
Sales and other operating revenues | 14,593 | 13,664 | 14,141 | 15,569 | 57,967 | 14,166 | 13,350 | 13,643 | 13,254 | 54,413 | |||||||||||
Equity in earnings of affiliates | 490 | 529 | 412 | 480 | 1,911 | 362 | 494 | 709 | 654 | 2,219 | |||||||||||
Gain on dispositions | 940 | 583 | 118 | 16 | 1,657 | 58 | 95 | 1,069 | 20 | 1,242 | |||||||||||
Other income | 60 | 66 | 42 | 301 | 469 | 65 | 203 | 49 | 57 | 374 | |||||||||||
Total Revenues and Other Income | 16,083 | 14,842 | 14,713 | 16,366 | 62,004 | 14,651 | 14,142 | 15,470 | 13,985 | 58,248 | |||||||||||
Costs and Expenses | |||||||||||||||||||||
Purchased commodities | 6,078 | 5,721 | 6,357 | 7,076 | 25,232 | 5,834 | 5,521 | 5,708 | 5,580 | 22,643 | |||||||||||
Production and operating expenses | 1,559 | 1,802 | 1,637 | 1,795 | 6,793 | 1,687 | 1,672 | 1,962 | 1,917 | 7,238 | |||||||||||
Selling, general and administrative expenses | 326 | 235 | 329 | 216 | 1,106 | 165 | 193 | 249 | 247 | 854 | |||||||||||
Exploration expenses | 675 | 265 | 215 | 345 | 1,500 | 277 | 321 | 313 | 321 | 1,232 | |||||||||||
Depreciation, depletion and amortization | 1,571 | 1,580 | 1,650 | 1,779 | 6,580 | 1,807 | 1,832 | 1,902 | 1,893 | 7,434 | |||||||||||
Impairments | 214 | 82 | - | 384 | 680 | 2 | 28 | 1 | 498 | 529 | |||||||||||
Taxes other than income taxes | 1,095 | 900 | 673 | 878 | 3,546 | 892 | 642 | 664 | 686 | 2,884 | |||||||||||
Accretion on discounted liabilities | 105 | 103 | 100 | 86 | 394 | 106 | 105 | 106 | 117 | 434 | |||||||||||
Interest and debt expense | 190 | 197 | 161 | 161 | 709 | 130 | 139 | 151 | 192 | 612 | |||||||||||
Foreign currency transaction (gains) losses | 5 | 12 | - | 24 | 41 | (36 | ) | (7 | ) | 9 | (24 | ) | (58 | ) | |||||||
Total Costs and Expenses | 11,818 | 10,897 | 11,122 | 12,744 | 46,581 | 10,864 | 10,446 | 11,065 | 11,427 | 43,802 | |||||||||||
Income from continuing operations before income taxes | 4,265 | 3,945 | 3,591 | 3,622 | 15,423 | 3,787 | 3,696 | 4,405 | 2,558 | 14,446 | |||||||||||
Provision for income taxes | 2,086 | 2,225 | 1,851 | 1,780 | 7,942 | 1,763 | 1,630 | 1,966 | 1,050 | 6,409 | |||||||||||
Income from continuing operations | 2,179 | 1,720 | 1,740 | 1,842 | 7,481 | 2,024 | 2,066 | 2,439 | 1,508 | 8,037 | |||||||||||
Income from discontinued operations | 776 | 569 | 73 | (401 | ) | 1,017 | 129 | (3 | ) | 57 | 995 | 1,178 | |||||||||
Net Income | 2,955 | 2,289 | 1,813 | 1,441 | 8,498 | 2,153 | 2,063 | 2,496 | 2,503 | 9,215 | |||||||||||
Less: net income attributable to noncontrolling interests | (18 | ) | (22 | ) | (15 | ) | (15 | ) | (70 | ) | (14 | ) | (13 | ) | (16 | ) | (16 | ) | (59 | ) | |
Net Income Attributable to ConocoPhillips | 2,937 | 2,267 | 1,798 | 1,426 | 8,428 | 2,139 | 2,050 | 2,480 | 2,487 | 9,156 | |||||||||||
Net Income Attributable to ConocoPhillips | |||||||||||||||||||||
Per Share of Common Stock (dollars) | |||||||||||||||||||||
Basic | |||||||||||||||||||||
Continuing operations | 1.69 | 1.36 | 1.41 | 1.49 | 5.95 | 1.64 | 1.66 | 1.96 | 1.20 | 6.47 | |||||||||||
Discontinued operations | 0.60 | 0.46 | 0.06 | (0.33 | ) | 0.82 | 0.10 | - | 0.05 | 0.81 | 0.96 | ||||||||||
Net Income Attributable to ConocoPhillips | |||||||||||||||||||||
Per Share of Common Stock | 2.29 | 1.82 | 1.47 | 1.16 | 6.77 | 1.74 | 1.66 | 2.01 | 2.01 | 7.43 | |||||||||||
Diluted | |||||||||||||||||||||
Continuing operations | 1.67 | 1.35 | 1.40 | 1.49 | 5.91 | 1.63 | 1.65 | 1.95 | 1.20 | 6.43 | |||||||||||
Discontinued operations | 0.60 | 0.45 | 0.06 | (0.33 | ) | 0.81 | 0.10 | - | 0.05 | 0.80 | 0.95 | ||||||||||
Net Income Attributable to ConocoPhillips | |||||||||||||||||||||
Per Share of Common Stock | 2.27 | 1.80 | 1.46 | 1.16 | 6.72 | 1.73 | 1.65 | 2.00 | 2.00 | 7.38 | |||||||||||
Average Common Shares Outstanding (in thousands) | |||||||||||||||||||||
Basic | 1,283,493 | 1,248,300 | 1,220,462 | 1,223,422 | 1,243,799 | 1,229,232 | 1,229,773 | 1,231,054 | 1,233,741 | 1,230,963 | |||||||||||
Diluted | 1,293,104 | 1,258,189 | 1,229,343 | 1,231,395 | 1,253,093 | 1,235,907 | 1,237,157 | 1,240,365 | 1,241,112 | 1,239,803 | |||||||||||
INCOME (LOSS) FROM CONTINUING | |||||||||||||||||||||
OPERATIONS BEFORE INCOME TAXES | |||||||||||||||||||||
Alaska | 983 | 856 | 820 | 882 | 3,541 | 842 | 1,060 | 787 | 860 | 3,549 | |||||||||||
Lower 48 and Latin America | 426 | 207 | 250 | 279 | 1,162 | 260 | 352 | 765 | 237 | 1,614 | |||||||||||
Canada | (725 | ) | (134 | ) | (39 | ) | (38 | ) | (936 | ) | (117 | ) | 10 | 868 | (87 | ) | 674 | ||||
Europe | 1,464 | 1,896 | 962 | 1,188 | 5,510 | 1,191 | 625 | 960 | 747 | 3,523 | |||||||||||
Asia Pacific and Middle East | 2,204 | 1,090 | 1,105 | 1,175 | 5,574 | 1,393 | 1,416 | 1,120 | 1,173 | 5,102 | |||||||||||
Other International | 282 | 409 | 798 | 356 | 1,845 | 401 | 381 | 196 | (50 | ) | 928 | ||||||||||
Corporate and Other | (369 | ) | (379 | ) | (305 | ) | (220 | ) | (1,273 | ) | (183 | ) | (148 | ) | (291 | ) | (322 | ) | (944 | ) | |
Consolidated | 4,265 | 3,945 | 3,591 | 3,622 | 15,423 | 3,787 | 3,696 | 4,405 | 2,558 | 14,446 | |||||||||||
EFFECTIVE INCOME TAX RATES FOR | |||||||||||||||||||||
CONTINUING OPERATIONS | |||||||||||||||||||||
Alaska* | 36.9 | % | 35.7 | % | 34.8 | % | 35.4 | % | 35.8 | % | 35.5 | % | 35.7 | % | 37.1 | % | 35.4 | % | 35.9 | % | |
Lower 48 and Latin America | 40.2 | % | 42.6 | % | 26.9 | % | -69.6 | % | 11.4 | % | 49.1 | % | 29.6 | % | 34.9 | % | 14.9 | % | 33.1 | % | |
Canada | 24.3 | % | 29.8 | % | 19.2 | % | 73.2 | % | 26.9 | % | 213.7 | % | 52.2 | % | 26.0 | % | 29.3 | % | -6.6 | % | |
Europe | 73.4 | % | 64.7 | % | 86.3 | % | 74.0 | % | 72.8 | % | 63.8 | % | 58.3 | % | 70.4 | % | 70.1 | % | 66.0 | % | |
Asia Pacific and Middle East | 20.4 | % | 27.1 | % | 38.1 | % | 35.0 | % | 28.3 | % | 33.1 | % | 27.2 | % | 32.4 | % | 25.8 | % | 29.6 | % | |
Other International | 92.6 | % | 114.0 | % | 38.3 | % | 127.2 | % | 80.5 | % | 96.5 | % | 96.2 | % | 101.2 | % | 36.7 | % | 100.6 | % | |
Corporate and Other | 15.8 | % | 31.1 | % | 16.7 | % | 23.9 | % | 22.0 | % | 11.7 | % | -16.8 | % | 19.4 | % | 22.0 | % | 13.1 | % | |
Consolidated | 48.9 | % | 56.4 | % | 51.5 | % | 49.1 | % | 51.5 | % | 46.6 | % | 44.1 | % | 44.6 | % | 41.1 | % | 44.4 | % | |
*Alaska including taxes other than income taxes | 66.0 | % | 63.9 | % | 56.7 | % | 61.7 | % | 62.5 | % | 61.6 | % | 52.9 | % | 57.8 | % | 56.2 | % | 57.1 | % | |
1 of 8
2012 | 2013 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | ||||||||||||
$ Millions | |||||||||||||||||||||
EARNINGS BY SEGMENT | |||||||||||||||||||||
Alaska | 620 | 551 | 535 | 570 | 2,276 | 543 | 682 | 494 | 555 | 2,274 | |||||||||||
Lower 48 and Latin America* | 255 | 119 | 182 | 473 | 1,029 | 133 | 247 | 498 | 203 | 1,081 | |||||||||||
Canada | (549 | ) | (94 | ) | (31 | ) | (10 | ) | (684 | ) | 133 | 5 | 642 | (62 | ) | 718 | |||||
Europe | 389 | 669 | 132 | 308 | 1,498 | 431 | 261 | 284 | 223 | 1,199 | |||||||||||
Asia Pacific and Middle East | 1,738 | 772 | 669 | 749 | 3,928 | 918 | 1,017 | 741 | 856 | 3,532 | |||||||||||
Other International | 21 | (57 | ) | 492 | (97 | ) | 359 | 14 | 14 | (2 | ) | (32 | ) | (6 | ) | ||||||
Corporate and Other | (311 | ) | (262 | ) | (254 | ) | (166 | ) | (993 | ) | (162 | ) | (173 | ) | (234 | ) | (251 | ) | (820 | ) | |
Discontinued Operations - Phillips 66 | 712 | 534 | 2 | (16 | ) | 1,232 | - | - | - | - | - | ||||||||||
Discontinued Operations - Other | 62 | 35 | 71 | (385 | ) | (217 | ) | 129 | (3 | ) | 57 | 995 | 1,178 | ||||||||
Consolidated | 2,937 | 2,267 | 1,798 | 1,426 | 8,428 | 2,139 | 2,050 | 2,480 | 2,487 | 9,156 | |||||||||||
*Lower 48 only: | 234 | 104 | 145 | 262 | 745 | 105 | 233 | 210 | 206 | 754 | |||||||||||
SPECIAL ITEMS (AFTER-TAX) | |||||||||||||||||||||
Alaska | - | - | - | (25 | ) | (25 | ) | - | 97 | - | - | 97 | |||||||||
Lower 48 and Latin America* | - | - | - | 316 | 316 | (60 | ) | 69 | 288 | - | 297 | ||||||||||
Canada | (520 | ) | - | - | (42 | ) | (562 | ) | 224 | - | 461 | (129 | ) | 556 | |||||||
Europe | - | 255 | (167 | ) | (80 | ) | 8 | 83 | - | - | (107 | ) | (24 | ) | |||||||
Asia Pacific and Middle East | 937 | (17 | ) | (133 | ) | - | 787 | - | 146 | (116 | ) | - | 30 | ||||||||
Other International | - | - | 443 | (108 | ) | 335 | - | - | - | - | - | ||||||||||
Corporate and Other | (33 | ) | (40 | ) | (118 | ) | 11 | (180 | ) | 11 | (9 | ) | (31 | ) | (10 | ) | (39 | ) | |||
Discontinued Operations - Phillips 66 | 712 | 534 | 2 | (16 | ) | 1,232 | - | - | - | - | - | ||||||||||
Discontinued Operations - Other | 62 | 35 | 71 | (385 | ) | (217 | ) | 129 | (3 | ) | 57 | 995 | 1,178 | ||||||||
Consolidated | 1,158 | 767 | 98 | (329 | ) | 1,694 | 387 | 300 | 659 | 749 | 2,095 | ||||||||||
*Lower 48 only: | - | - | - | 115 | 115 | (60 | ) | 69 | - | - | 9 | ||||||||||
ADJUSTED EARNINGS | |||||||||||||||||||||
Alaska | 620 | 551 | 535 | 595 | 2,301 | 543 | 585 | 494 | 555 | 2,177 | |||||||||||
Lower 48 and Latin America* | 255 | 119 | 182 | 157 | 713 | 193 | 178 | 210 | 203 | 784 | |||||||||||
Canada | (29 | ) | (94 | ) | (31 | ) | 32 | (122 | ) | (91 | ) | 5 | 181 | 67 | 162 | ||||||
Europe | 389 | 414 | 299 | 388 | 1,490 | 348 | 261 | 284 | 330 | 1,223 | |||||||||||
Asia Pacific and Middle East | 801 | 789 | 802 | 749 | 3,141 | 918 | 871 | 857 | 856 | 3,502 | |||||||||||
Other International | 21 | (57 | ) | 49 | 11 | 24 | 14 | 14 | (2 | ) | (32 | ) | (6 | ) | |||||||
Corporate and Other | (278 | ) | (222 | ) | (136 | ) | (177 | ) | (813 | ) | (173 | ) | (164 | ) | (203 | ) | (241 | ) | (781 | ) | |
Consolidated | 1,779 | 1,500 | 1,700 | 1,755 | 6,734 | 1,752 | 1,750 | 1,821 | 1,738 | 7,061 | |||||||||||
*Lower 48 only: | 234 | 104 | 145 | 147 | 630 | 165 | 164 | 210 | 206 | 745 | |||||||||||
ADJUSTED EFFECTIVE INCOME TAX RATES FOR | |||||||||||||||||||||
CONTINUING OPERATIONS | |||||||||||||||||||||
Alaska | 36.9 | % | 35.7 | % | 34.8 | % | 35.5 | % | 35.8 | % | 35.5 | % | 35.6 | % | 37.1 | % | 35.4 | % | 35.9 | % | |
Lower 48 and Latin America | 40.2 | % | 42.6 | % | 26.9 | % | 42.1 | % | 38.2 | % | 40.2 | % | 35.5 | % | 39.6 | % | 14.9 | % | 33.9 | % | |
Canada | 7.2 | % | 29.8 | % | 19.2 | % | -81.8 | % | 34.3 | % | 22.2 | % | 52.2 | % | 28.7 | % | 20.6 | % | 30.0 | % | |
Europe | 73.4 | % | 70.2 | % | 69.0 | % | 71.2 | % | 71.1 | % | 68.4 | % | 58.3 | % | 70.4 | % | 67.9 | % | 67.1 | % | |
Asia Pacific and Middle East | 36.8 | % | 30.6 | % | 35.2 | % | 36.2 | % | 34.8 | % | 34.1 | % | 31.2 | % | 31.5 | % | 25.8 | % | 30.3 | % | |
Other International | 92.6 | % | 114.0 | % | 91.7 | % | 97.4 | % | 98.6 | % | 96.5 | % | 96.2 | % | 101.2 | % | 36.7 | % | 100.6 | % | |
Corporate and Other | 17.8 | % | 33.4 | % | 4.8 | % | 24.0 | % | 22.4 | % | 11.0 | % | -19.6 | % | 15.5 | % | 21.2 | % | 11.0 | % | |
Consolidated | 56.1 | % | 57.5 | % | 53.8 | % | 55.5 | % | 55.7 | % | 53.3 | % | 47.4 | % | 48.7 | % | 42.1 | % | 48.0 | % | |
2 of 8
2012 | 2013 | ||||||||||||||||||||
$ Millions | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | |||||||||||
DETAILED SPECIAL ITEMS (AFTER-TAX) | |||||||||||||||||||||
Alaska | |||||||||||||||||||||
Pending claims and settlements | - | - | - | (25 | ) | (25 | ) | - | 97 | - | - | 97 | |||||||||
Total | - | - | - | (25 | ) | (25 | ) | - | 97 | - | - | 97 | |||||||||
Lower 48 and Latin America* | |||||||||||||||||||||
Gain (loss) on asset sales | - | - | - | - | - | (39 | ) | 47 | 288 | - | 296 | ||||||||||
Impairments | - | - | - | (121 | ) | (121 | ) | - | - | - | - | - | |||||||||
Tax loss carryforward realization | - | - | - | 236 | 236 | (21 | ) | 22 | - | - | 1 | ||||||||||
Pending claims and settlements | - | - | - | 201 | 201 | - | - | - | - | - | |||||||||||
Total | - | - | - | 316 | 316 | (60 | ) | 69 | 288 | - | 297 | ||||||||||
Canada | |||||||||||||||||||||
Gain (loss) on asset sales | - | - | - | - | - | 224 | - | 461 | - | 685 | |||||||||||
Impairments | (520 | ) | - | - | (42 | ) | (562 | ) | - | - | - | (162 | ) | (162 | ) | ||||||
FCCL IFRS depreciation adjustment | - | - | - | - | - | - | - | - | 33 | 33 | |||||||||||
Total | (520 | ) | - | - | (42 | ) | (562 | ) | 224 | - | 461 | (129 | ) | 556 | |||||||
Europe | |||||||||||||||||||||
Gain (loss) on asset sales | - | 285 | - | - | 285 | 83 | - | - | - | 83 | |||||||||||
Impairments | - | (30 | ) | - | (80 | ) | (110 | ) | - | - | - | (107 | ) | (107 | ) | ||||||
International tax law changes | - | - | (167 | ) | - | (167 | ) | - | - | - | - | - | |||||||||
Total | - | 255 | (167 | ) | (80 | ) | 8 | 83 | - | - | (107 | ) | (24 | ) | |||||||
Asia Pacific and Middle East | |||||||||||||||||||||
Gain (loss) on asset sales | 937 | - | (133 | ) | - | 804 | - | - | - | - | - | ||||||||||
Bohai Bay incidents | - | (89 | ) | - | - | (89 | ) | - | - | - | - | - | |||||||||
Deferred tax adjustment | - | 72 | - | - | 72 | - | - | - | - | - | |||||||||||
Pending claims and settlements | - | - | - | - | - | - | 146 | (116 | ) | - | 30 | ||||||||||
Total | 937 | (17 | ) | (133 | ) | - | 787 | - | 146 | (116 | ) | - | 30 | ||||||||
Other International | |||||||||||||||||||||
Gain (loss) on asset sales | - | - | 443 | - | 443 | - | - | - | - | - | |||||||||||
Impairments | - | - | - | (108 | ) | (108 | ) | - | - | - | - | - | |||||||||
Total | - | - | 443 | (108 | ) | 335 | - | - | - | - | - | ||||||||||
Corporate and Other | |||||||||||||||||||||
Gain (loss) on asset sales | - | - | - | - | - | 11 | - | - | - | 11 | |||||||||||
Separation costs | (33 | ) | (40 | ) | (7 | ) | (4 | ) | (84 | ) | - | - | - | - | - | ||||||
Pension settlement expense | - | - | (82 | ) | (5 | ) | (87 | ) | - | - | (31 | ) | (10 | ) | (41 | ) | |||||
Premium on early debt retirement | - | - | (68 | ) | - | (68 | ) | - | - | - | - | - | |||||||||
Pending claims and settlements | - | - | 39 | 20 | 59 | - | (9 | ) | - | - | (9 | ) | |||||||||
Total | (33 | ) | (40 | ) | (118 | ) | 11 | (180 | ) | 11 | (9 | ) | (31 | ) | (10 | ) | (39 | ) | |||
Discontinued Operations - Phillips 66 | 712 | 534 | 2 | (16 | ) | 1,232 | - | - | - | - | - | ||||||||||
Discontinued Operations - Other | 62 | 35 | 71 | (385 | ) | (217 | ) | 129 | (3 | ) | 57 | 995 | 1,178 | ||||||||
Total Company | 1,158 | 767 | 98 | (329 | ) | 1,694 | 387 | 300 | 659 | 749 | 2,095 | ||||||||||
*Lower 48 only: | - | - | - | 115 | 115 | (60 | ) | 69 | - | - | 9 | ||||||||||
3 of 8
2012 | 2013 | ||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | ||||||||||||
$ Millions | |||||||||||||||||||||
CASH FLOW INFORMATION | |||||||||||||||||||||
Cash Flows from Operating Activities | |||||||||||||||||||||
Net income | 2,955 | 2,289 | 1,813 | 1,441 | 8,498 | 2,153 | 2,063 | 2,496 | 2,503 | 9,215 | |||||||||||
Depreciation, depletion and amortization | 1,571 | 1,580 | 1,650 | 1,779 | 6,580 | 1,807 | 1,832 | 1,902 | 1,893 | 7,434 | |||||||||||
Impairments | 214 | 82 | - | 384 | 680 | 2 | 28 | 1 | 498 | 529 | |||||||||||
Dry hole costs and leasehold impairments | 518 | 116 | 69 | 171 | 874 | 36 | 176 | 133 | 98 | 443 | |||||||||||
Accretion on discounted liabilities | 105 | 103 | 100 | 86 | 394 | 106 | 105 | 106 | 117 | 434 | |||||||||||
Deferred taxes | 131 | 284 | 396 | 586 | 1,397 | 241 | 443 | 458 | 169 | 1,311 | |||||||||||
Undistributed equity earnings | (77 | ) | (179 | ) | (153 | ) | (187 | ) | (596 | ) | (29 | ) | (199 | ) | (357 | ) | (237 | ) | (822 | ) | |
Gain on dispositions | (940 | ) | (583 | ) | (118 | ) | (16 | ) | (1,657 | ) | (58 | ) | (95 | ) | (1,069 | ) | (20 | ) | (1,242 | ) | |
Income from discontinued operations | (776 | ) | (569 | ) | (73 | ) | 401 | (1,017 | ) | (129 | ) | 3 | (57 | ) | (995 | ) | (1,178 | ) | |||
Other | 173 | (279 | ) | 53 | (403 | ) | (456 | ) | (503 | ) | 17 | 206 | (91 | ) | (371 | ) | |||||
Net working capital changes | 196 | (766 | ) | (297 | ) | (372 | ) | (1,239 | ) | 982 | (684 | ) | (175 | ) | (75 | ) | 48 | ||||
Net cash provided by continuing operations | 4,070 | 2,078 | 3,440 | 3,870 | 13,458 | 4,608 | 3,689 | 3,644 | 3,860 | 15,801 | |||||||||||
Net cash provided by discontinued operations | 112 | 272 | 80 | - | 464 | 122 | 52 | 61 | 51 | 286 | |||||||||||
Net Cash Provided by Operating Activities | 4,182 | 2,350 | 3,520 | 3,870 | 13,922 | 4,730 | 3,741 | 3,705 | 3,911 | 16,087 | |||||||||||
Cash Flows from Investing Activities | |||||||||||||||||||||
Capital expenditures and investments | (3,818 | ) | (3,623 | ) | (3,279 | ) | (3,452 | ) | (14,172 | ) | (3,391 | ) | (3,705 | ) | (4,185 | ) | (4,256 | ) | (15,537 | ) | |
Proceeds from asset dispositions | 1,102 | 464 | 522 | 44 | 2,132 | 1,134 | 542 | 1,499 | 7,045 | 10,220 | |||||||||||
Net sales (purchases) of short-term investments | 92 | 505 | - | - | 597 | (23 | ) | (51 | ) | 75 | (264 | ) | (263 | ) | |||||||
Long-term collections from related parties | |||||||||||||||||||||
and other investments | 45 | 23 | 207 | 660 | 935 | 36 | (11 | ) | 54 | (146 | ) | (67 | ) | ||||||||
Net cash provided by (used in) continuing operations | (2,579 | ) | (2,631 | ) | (2,550 | ) | (2,748 | ) | (10,508 | ) | (2,244 | ) | (3,225 | ) | (2,557 | ) | 2,379 | (5,647 | ) | ||
Net cash used in discontinued operations | (431 | ) | (284 | ) | (223 | ) | (181 | ) | (1,119 | ) | (189 | ) | (190 | ) | (161 | ) | (64 | ) | (604 | ) | |
Net Cash Provided by (Used in) Investing Activities | (3,010 | ) | (2,915 | ) | (2,773 | ) | (2,929 | ) | (11,627 | ) | (2,433 | ) | (3,415 | ) | (2,718 | ) | 2,315 | (6,251 | ) | ||
Cash Flows from Financing Activities | |||||||||||||||||||||
Net issuance (repayment) of debt | (47 | ) | 831 | (1,967 | ) | 614 | (569 | ) | (48 | ) | (850 | ) | (48 | ) | - | (946 | ) | ||||
Special cash distribution from Phillips 66 | - | 7,818 | - | - | 7,818 | - | - | - | - | - | |||||||||||
Change in restricted cash | - | (5,000 | ) | 2,532 | 1,720 | (748 | ) | 748 | - | - | - | 748 | |||||||||
Issuance of company common stock | 36 | 9 | 38 | 55 | 138 | (10 | ) | 5 | 17 | 8 | 20 | ||||||||||
Repurchase of company common stock | (1,899 | ) | (3,050 | ) | (149 | ) | - | (5,098 | ) | - | - | - | - | - | |||||||
Dividends paid | (843 | ) | (818 | ) | (808 | ) | (809 | ) | (3,278 | ) | (815 | ) | (814 | ) | (852 | ) | (853 | ) | (3,334 | ) | |
Other | (199 | ) | (170 | ) | (178 | ) | (178 | ) | (725 | ) | (205 | ) | (186 | ) | (202 | ) | (3,028 | ) | (3,621 | ) | |
Net cash provided by (used in) continuing operations | (2,952 | ) | (380 | ) | (532 | ) | 1,402 | (2,462 | ) | (330 | ) | (1,845 | ) | (1,085 | ) | (3,873 | ) | (7,133 | ) | ||
Net cash used in discontinued operations | (318 | ) | (1,701 | ) | - | - | (2,019 | ) | - | - | - | - | - | ||||||||
Net Cash Provided by (Used in) Financing Activities | (3,270 | ) | (2,081 | ) | (532 | ) | 1,402 | (4,481 | ) | (330 | ) | (1,845 | ) | (1,085 | ) | (3,873 | ) | (7,133 | ) | ||
Effect of Exchange Rate Changes | 25 | (17 | ) | 9 | 7 | 24 | (163 | ) | 6 | 72 | 10 | (75 | ) | ||||||||
Net Change in Cash and Cash Equivalents | (2,073 | ) | (2,663 | ) | 224 | 2,350 | (2,162 | ) | 1,804 | (1,513 | ) | (26 | ) | 2,363 | 2,628 | ||||||
Cash and cash equivalents at beginning of period | 5,780 | 3,707 | 1,044 | 1,268 | 5,780 | 3,618 | 5,422 | 3,909 | 3,883 | 3,618 | |||||||||||
Cash and Cash Equivalents at End of Period | 3,707 | 1,044 | 1,268 | 3,618 | 3,618 | 5,422 | 3,909 | 3,883 | 6,246 | 6,246 | |||||||||||
CAPITAL PROGRAM | |||||||||||||||||||||
Capital expenditures and investments | |||||||||||||||||||||
Alaska | 186 | 202 | 208 | 232 | 828 | 262 | 283 | 291 | 304 | 1,140 | |||||||||||
Lower 48 and Latin America | 1,267 | 1,288 | 1,339 | 1,357 | 5,251 | 1,280 | 1,377 | 1,244 | 1,333 | 5,234 | |||||||||||
Canada | 629 | 428 | 493 | 634 | 2,184 | 675 | 422 | 505 | 630 | 2,232 | |||||||||||
Europe | 622 | 735 | 738 | 765 | 2,860 | 791 | 765 | 791 | 768 | 3,115 | |||||||||||
Asia Pacific and Middle East | 699 | 886 | 468 | 377 | 2,430 | 337 | 827 | 1,142 | 1,076 | 3,382 | |||||||||||
Other International | 354 | 34 | 11 | 16 | 415 | 19 | 4 | 169 | 60 | 252 | |||||||||||
Corporate and Other | 61 | 50 | 22 | 71 | 204 | 27 | 27 | 43 | 85 | 182 | |||||||||||
Total capital expenditures and investments | 3,818 | 3,623 | 3,279 | 3,452 | 14,172 | 3,391 | 3,705 | 4,185 | 4,256 | 15,537 | |||||||||||
Joint venture acquisition obligation (principal) - Canada* | 180 | 181 | 185 | 187 | 733 | 189 | 192 | 194 | 197 | 772 | |||||||||||
Total Capital Program | 3,998 | 3,804 | 3,464 | 3,639 | 14,905 | 3,580 | 3,897 | 4,379 | 4,453 | 16,309 | |||||||||||
Capital spending for Algeria, Nigeria and Kashagan | 220 | 190 | 225 | 182 | 817 | 189 | 190 | 161 | 69 | 609 | |||||||||||
*Excludes $2,810 million prepayment in the fourth quarter of 2013. | |||||||||||||||||||||
4 of 8
2012 | 2013 | ||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | ||||
TOTAL SEGMENTS | |||||||||||||
Production | |||||||||||||
Total (MBOED) | |||||||||||||
Continuing operations, including equity affiliates | 1,581 | 1,489 | 1,470 | 1,566 | 1,527 | 1,555 | 1,510 | 1,470 | 1,473 | 1,502 | |||
Discontinued operations (Algeria and Nigeria) | 56 | 53 | 55 | 41 | 51 | 41 | 42 | 44 | 45 | 43 | |||
Total, including equity affiliates | 1,637 | 1,542 | 1,525 | 1,607 | 1,578 | 1,596 | 1,552 | 1,514 | 1,518 | 1,545 | |||
Crude Oil (MBD) | |||||||||||||
Consolidated operations | 590 | 554 | 528 | 598 | 567 | 606 | 565 | 532 | 543 | 562 | |||
Equity affiliates | 34 | 31 | 25 | 21 | 28 | 20 | 20 | 20 | 17 | 19 | |||
Total continuing operations | 624 | 585 | 553 | 619 | 595 | 626 | 585 | 552 | 560 | 581 | |||
Discontinued operations (Algeria and Nigeria) | 26 | 23 | 25 | 17 | 23 | 20 | 18 | 19 | 15 | 18 | |||
Total | 650 | 608 | 578 | 636 | 618 | 646 | 603 | 571 | 575 | 599 | |||
Over (under) lifting of crude oil (MBD)* | (11 | ) | 29 | 32 | 25 | 19 | (9 | ) | 4 | 19 | 11 | 6 | |
*Includes continuing and discontinued operations. | |||||||||||||
NGL (MBD) | |||||||||||||
Consolidated operations | 155 | 143 | 144 | 152 | 148 | 151 | 150 | 148 | 144 | 149 | |||
Equity affiliates | 8 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 6 | 7 | |||
Total continuing operations | 163 | 150 | 151 | 160 | 156 | 159 | 158 | 156 | 150 | 156 | |||
Discontinued operations (Nigeria) | 3 | 4 | 4 | 3 | 4 | 3 | 3 | 4 | 4 | 3 | |||
Total | 166 | 154 | 155 | 163 | 160 | 162 | 161 | 160 | 154 | 159 | |||
Bitumen (MBD) | |||||||||||||
Consolidated operations | 11 | 11 | 12 | 12 | 12 | 13 | 12 | 13 | 13 | 13 | |||
Equity affiliates | 73 | 77 | 80 | 94 | 81 | 96 | 88 | 94 | 106 | 96 | |||
Total | 84 | 88 | 92 | 106 | 93 | 109 | 100 | 107 | 119 | 109 | |||
Natural Gas (MMCFD) | |||||||||||||
Consolidated operations | 3,756 | 3,509 | 3,588 | 3,592 | 3,611 | 3,479 | 3,505 | 3,423 | 3,427 | 3,458 | |||
Equity affiliates | 505 | 491 | 449 | 497 | 485 | 483 | 493 | 507 | 439 | 481 | |||
Total continuing operations | 4,261 | 4,000 | 4,037 | 4,089 | 4,096 | 3,962 | 3,998 | 3,930 | 3,866 | 3,939 | |||
Discontinued operations (Nigeria) | 161 | 153 | 162 | 120 | 149 | 110 | 128 | 125 | 155 | 129 | |||
Total | 4,422 | 4,153 | 4,199 | 4,209 | 4,245 | 4,072 | 4,126 | 4,055 | 4,021 | 4,068 | |||
Industry Prices (Platt's) | |||||||||||||
Crude Oil ($/BBL) | |||||||||||||
WTI | 102.99 | 93.44 | 92.11 | 88.09 | 94.16 | 94.29 | 94.12 | 105.80 | 97.38 | 97.90 | |||
WCS* | 81.51 | 70.63 | 70.49 | 70.07 | 73.18 | 62.41 | 75.06 | 88.35 | 65.26 | 72.77 | |||
Brent dated | 118.49 | 108.19 | 109.61 | 110.02 | 111.58 | 112.55 | 102.44 | 110.32 | 109.27 | 108.65 | |||
JCC | 111.43 | 116.70 | 121.99 | 105.85 | 113.99 | 114.19 | 113.07 | 107.36 | 107.94 | 110.64 | |||
Natural Gas ($/MMBTU) | |||||||||||||
Henry Hub first of month | 2.72 | 2.21 | 2.80 | 3.41 | 2.79 | 3.34 | 4.10 | 3.58 | 3.60 | 3.65 | |||
*Quoted WCS price has been revised. | |||||||||||||
Average Realized Prices | |||||||||||||
Crude Oil ($/BBL) | |||||||||||||
Consolidated operations | 111.91 | 105.77 | 102.79 | 103.16 | 105.86 | 106.17 | 100.31 | 106.85 | 100.67 | 103.50 | |||
Equity affiliates | 111.37 | 99.28 | 96.57 | 100.90 | 102.80 | 100.27 | 93.41 | 99.41 | 98.81 | 97.92 | |||
Total continuing operations | 111.88 | 105.43 | 102.54 | 103.08 | 105.72 | 105.97 | 100.07 | 106.60 | 100.61 | 103.32 | |||
Discontinued operations (Algeria and Nigeria) | 122.73 | 108.92 | 106.97 | 112.15 | 112.90 | 112.62 | 103.45 | 110.28 | 110.29 | 109.72 | |||
Total | 112.33 | 105.56 | 102.72 | 103.33 | 105.98 | 106.20 | 100.14 | 106.74 | 100.83 | 103.51 | |||
NGL ($/BBL) | |||||||||||||
Consolidated operations | 53.26 | 42.77 | 40.02 | 42.38 | 44.62 | 40.87 | 36.21 | 39.44 | 41.89 | 39.60 | |||
Equity affiliates | 88.24 | 70.28 | 62.18 | 86.97 | 77.30 | 77.32 | 64.63 | 69.90 | 83.05 | 73.31 | |||
Total continuing operations | 55.03 | 44.36 | 41.08 | 44.93 | 46.36 | 42.95 | 37.80 | 41.14 | 43.82 | 41.42 | |||
Discontinued operations (Nigeria) | 11.97 | 15.34 | 14.26 | 11.06 | 13.30 | 12.30 | 13.13 | 15.76 | 16.13 | 14.58 | |||
Total | 54.11 | 43.55 | 40.39 | 44.15 | 45.55 | 42.41 | 37.24 | 40.47 | 43.07 | 40.79 | |||
Bitumen ($/BBL) | |||||||||||||
Consolidated operations | 64.95 | 54.75 | 56.23 | 55.29 | 57.58 | 36.78 | 59.67 | 76.90 | 44.73 | 55.25 | |||
Equity affiliates | 60.04 | 50.85 | 56.95 | 47.43 | 53.39 | 39.52 | 55.13 | 75.93 | 43.64 | 53.00 | |||
Total | 60.66 | 51.38 | 56.86 | 48.32 | 53.91 | 39.23 | 55.69 | 76.06 | 43.76 | 53.27 | |||
Natural Gas ($/MCF) | |||||||||||||
Consolidated operations | 5.20 | 4.72 | 4.86 | 5.50 | 5.07 | 5.75 | 5.88 | 5.49 | 5.73 | 5.71 | |||
Equity affiliates | 8.62 | 8.98 | 8.66 | 7.90 | 8.54 | 9.36 | 8.84 | 9.35 | 8.29 | 8.98 | |||
Total continuing operations | 5.61 | 5.25 | 5.28 | 5.79 | 5.48 | 6.19 | 6.25 | 5.99 | 6.02 | 6.11 | |||
Discontinued operations (Nigeria) | 2.53 | 2.51 | 2.84 | 2.32 | 2.57 | 2.54 | 2.98 | 2.58 | 2.36 | 2.60 | |||
Total | 5.49 | 5.14 | 5.18 | 5.69 | 5.38 | 6.09 | 6.15 | 5.88 | 5.88 | 6.00 | |||
Exploration Expenses ($ Millions) | |||||||||||||
Dry holes | 6 | 64 | 6 | 79 | 155 | 4 | 98 | 101 | 65 | 268 | |||
Leasehold impairment | 512 | 52 | 63 | 92 | 719 | 32 | 78 | 32 | 33 | 175 | |||
Total noncash expenses | 518 | 116 | 69 | 171 | 874 | 36 | 176 | 133 | 98 | 443 | |||
Other (G&A, G&G and lease rentals) | 157 | 149 | 146 | 174 | 626 | 241 | 145 | 180 | 223 | 789 | |||
Total exploration expenses | 675 | 265 | 215 | 345 | 1,500 | 277 | 321 | 313 | 321 | 1,232 | |||
U.S. exploration expenses | 87 | 96 | 106 | 126 | 415 | 152 | 196 | 165 | 178 | 691 | |||
International exploration expenses | 588 | 169 | 109 | 219 | 1,085 | 125 | 125 | 148 | 143 | 541 | |||
DD&A ($ Millions) | |||||||||||||
Alaska | 134 | 134 | 117 | 131 | 516 | 135 | 135 | 124 | 136 | 530 | |||
Lower 48 and Latin America | 603 | 625 | 657 | 719 | 2,604 | 744 | 785 | 880 | 836 | 3,245 | |||
Canada | 324 | 333 | 355 | 326 | 1,338 | 343 | 345 | 330 | 297 | 1,315 | |||
Europe | 266 | 246 | 214 | 267 | 993 | 261 | 234 | 234 | 304 | 1,033 | |||
Asia Pacific and Middle East | 211 | 210 | 274 | 303 | 998 | 293 | 298 | 303 | 291 | 1,185 | |||
Other International | 9 | 11 | 12 | 13 | 45 | 11 | 12 | 5 | 2 | 30 | |||
Corporate and Other | 24 | 21 | 21 | 20 | 86 | 20 | 23 | 26 | 27 | 96 | |||
Total DD&A | 1,571 | 1,580 | 1,650 | 1,779 | 6,580 | 1,807 | 1,832 | 1,902 | 1,893 | 7,434 | |||
5 of 8
2012 | 2013 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | ||
PRODUCTION | |||||||||||
Crude Oil (MBD) | |||||||||||
Consolidated operations | |||||||||||
Alaska | 208 | 190 | 157 | 196 | 188 | 190 | 176 | 161 | 182 | 178 | |
Lower 48 | 117 | 115 | 124 | 136 | 123 | 148 | 147 | 153 | 158 | 152 | |
Canada | 13 | 14 | 14 | 13 | 13 | 14 | 14 | 13 | 12 | 13 | |
Norway | 112 | 103 | 97 | 103 | 104 | 100 | 78 | 94 | 95 | 92 | |
United Kingdom | 44 | 35 | 20 | 27 | 31 | 24 | 22 | 17 | 23 | 21 | |
Europe | 156 | 138 | 117 | 130 | 135 | 124 | 100 | 111 | 118 | 113 | |
Australia/Timor-Leste | 17 | 15 | 18 | 16 | 16 | 13 | 15 | 13 | 10 | 13 | |
China | 23 | 31 | 48 | 54 | 39 | 57 | 56 | 51 | 48 | 53 | |
Indonesia | 10 | 8 | 9 | 9 | 9 | 9 | 7 | 8 | 7 | 8 | |
Malaysia | - | - | - | 4 | 1 | 7 | 6 | 5 | 7 | 6 | |
Vietnam | 11 | - | - | - | 3 | - | - | - | - | - | |
AP/ME | 61 | 54 | 75 | 83 | 68 | 86 | 84 | 77 | 72 | 80 | |
Libya | 35 | 43 | 41 | 40 | 40 | 44 | 44 | 17 | 1 | 26 | |
Other International | 35 | 43 | 41 | 40 | 40 | 44 | 44 | 17 | 1 | 26 | |
Total consolidated operations | 590 | 554 | 528 | 598 | 567 | 606 | 565 | 532 | 543 | 562 | |
Equity affiliates | 34 | 31 | 25 | 21 | 28 | 20 | 20 | 20 | 17 | 19 | |
Total continuing operations | 624 | 585 | 553 | 619 | 595 | 626 | 585 | 552 | 560 | 581 | |
Discontinued operations (Algeria and Nigeria) | 26 | 23 | 25 | 17 | 23 | 20 | 18 | 19 | 15 | 18 | |
Total | 650 | 608 | 578 | 636 | 618 | 646 | 603 | 571 | 575 | 599 | |
NGL (MBD) | |||||||||||
Consolidated operations | |||||||||||
Alaska | 18 | 16 | 10 | 17 | 16 | 18 | 15 | 11 | 16 | 15 | |
Lower 48 | 84 | 83 | 87 | 87 | 85 | 87 | 91 | 94 | 90 | 91 | |
Canada | 25 | 22 | 25 | 24 | 24 | 26 | 25 | 25 | 23 | 25 | |
Norway | 5 | 4 | 3 | 3 | 4 | 3 | 2 | 3 | 3 | 3 | |
United Kingdom | 5 | 4 | 2 | 4 | 3 | 3 | 3 | 2 | 3 | 3 | |
Europe | 10 | 8 | 5 | 7 | 7 | 6 | 5 | 5 | 6 | 6 | |
Australia/Timor-Leste | 12 | 9 | 12 | 12 | 11 | 10 | 10 | 9 | 7 | 9 | |
Indonesia | 6 | 5 | 5 | 5 | 5 | 4 | 4 | 4 | 2 | 3 | |
AP/ME | 18 | 14 | 17 | 17 | 16 | 14 | 14 | 13 | 9 | 12 | |
Total consolidated operations | 155 | 143 | 144 | 152 | 148 | 151 | 150 | 148 | 144 | 149 | |
Equity affiliates | 8 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 6 | 7 | |
Total continuing operations | 163 | 150 | 151 | 160 | 156 | 159 | 158 | 156 | 150 | 156 | |
Discontinued operations (Nigeria) | 3 | 4 | 4 | 3 | 4 | 3 | 3 | 4 | 4 | 3 | |
Total | 166 | 154 | 155 | 163 | 160 | 162 | 161 | 160 | 154 | 159 | |
Bitumen (MBD) | |||||||||||
Consolidated operations | 11 | 11 | 12 | 12 | 12 | 13 | 12 | 13 | 13 | 13 | |
Equity affiliates | 73 | 77 | 80 | 94 | 81 | 96 | 88 | 94 | 106 | 96 | |
Total | 84 | 88 | 92 | 106 | 93 | 109 | 100 | 107 | 119 | 109 | |
Natural Gas (MMCFD) | |||||||||||
Consolidated operations | |||||||||||
Alaska | 59 | 56 | 51 | 56 | 55 | 56 | 38 | 35 | 43 | 43 | |
Lower 48 | 1,502 | 1,456 | 1,507 | 1,508 | 1,493 | 1,441 | 1,516 | 1,511 | 1,493 | 1,490 | |
Canada | 863 | 864 | 874 | 826 | 857 | 806 | 788 | 775 | 731 | 775 | |
Norway | 195 | 141 | 127 | 176 | 160 | 161 | 119 | 130 | 163 | 143 | |
United Kingdom | 437 | 399 | 287 | 302 | 356 | 300 | 290 | 227 | 277 | 273 | |
Europe | 632 | 540 | 414 | 478 | 516 | 461 | 409 | 357 | 440 | 416 | |
Australia/Timor-Leste | 249 | 159 | 261 | 251 | 230 | 251 | 272 | 268 | 255 | 262 | |
China | - | 1 | 4 | 5 | 3 | 4 | 6 | 4 | 4 | 4 | |
Indonesia | 441 | 427 | 444 | 438 | 437 | 428 | 447 | 439 | 452 | 442 | |
Malaysia | - | - | - | - | - | 1 | 1 | 1 | 1 | 1 | |
Vietnam | 7 | - | - | - | 2 | - | - | - | - | - | |
AP/ME | 697 | 587 | 709 | 694 | 672 | 684 | 726 | 712 | 712 | 709 | |
Libya | 3 | 6 | 33 | 30 | 18 | 31 | 28 | 33 | 8 | 25 | |
Other International | 3 | 6 | 33 | 30 | 18 | 31 | 28 | 33 | 8 | 25 | |
Total consolidated operations | 3,756 | 3,509 | 3,588 | 3,592 | 3,611 | 3,479 | 3,505 | 3,423 | 3,427 | 3,458 | |
Equity affiliates | 505 | 491 | 449 | 497 | 485 | 483 | 493 | 507 | 439 | 481 | |
Total continuing operations | 4,261 | 4,000 | 4,037 | 4,089 | 4,096 | 3,962 | 3,998 | 3,930 | 3,866 | 3,939 | |
Discontinued operations (Nigeria) | 161 | 153 | 162 | 120 | 149 | 110 | 128 | 125 | 155 | 129 | |
Total | 4,422 | 4,153 | 4,199 | 4,209 | 4,245 | 4,072 | 4,126 | 4,055 | 4,021 | 4,068 | |
Total (MBOED) | |||||||||||
Consolidated operations | |||||||||||
Alaska | 236 | 215 | 176 | 222 | 213 | 218 | 197 | 178 | 205 | 200 | |
Lower 48 | 451 | 441 | 462 | 475 | 457 | 475 | 491 | 499 | 497 | 491 | |
Canada | 193 | 191 | 197 | 187 | 192 | 187 | 183 | 180 | 170 | 180 | |
Norway | 149 | 131 | 121 | 135 | 135 | 130 | 100 | 119 | 125 | 119 | |
United Kingdom | 122 | 105 | 70 | 81 | 93 | 77 | 73 | 57 | 72 | 70 | |
Europe | 271 | 236 | 191 | 216 | 228 | 207 | 173 | 176 | 197 | 189 | |
Australia/Timor-Leste | 70 | 51 | 73 | 69 | 66 | 65 | 70 | 67 | 60 | 65 | |
China | 23 | 31 | 49 | 55 | 40 | 58 | 57 | 52 | 49 | 54 | |
Indonesia | 90 | 84 | 88 | 87 | 87 | 84 | 86 | 85 | 84 | 85 | |
Malaysia | - | - | - | 4 | 1 | 7 | 6 | 5 | 7 | 6 | |
Vietnam | 12 | - | - | - | 3 | - | - | - | - | - | |
AP/ME | 195 | 166 | 210 | 215 | 197 | 214 | 219 | 209 | 200 | 210 | |
Libya | 36 | 43 | 47 | 45 | 43 | 49 | 49 | 22 | 2 | 30 | |
Other International | 36 | 43 | 47 | 45 | 43 | 49 | 49 | 22 | 2 | 30 | |
Total consolidated operations | 1,382 | 1,292 | 1,283 | 1,360 | 1,330 | 1,350 | 1,312 | 1,264 | 1,271 | 1,300 | |
Equity affiliates | 199 | 197 | 187 | 206 | 197 | 205 | 198 | 206 | 202 | 202 | |
Total continuing operations | 1,581 | 1,489 | 1,470 | 1,566 | 1,527 | 1,555 | 1,510 | 1,470 | 1,473 | 1,502 | |
Discontinued operations (Algeria and Nigeria) | 56 | 53 | 55 | 41 | 51 | 41 | 42 | 44 | 45 | 43 | |
Total | 1,637 | 1,542 | 1,525 | 1,607 | 1,578 | 1,596 | 1,552 | 1,514 | 1,518 | 1,545 | |
6 of 8
2012 | 2013 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | ||
AVERAGE REALIZED PRICES | |||||||||||
Crude Oil ($/BBL) | |||||||||||
Consolidated operations | |||||||||||
Alaska | 112.20 | 112.38 | 106.53 | 106.91 | 109.62 | 110.79 | 106.09 | 110.95 | 104.04 | 107.83 | |
Lower 48 | 99.00 | 89.61 | 90.06 | 88.63 | 91.67 | 93.69 | 93.56 | 100.25 | 87.81 | 93.79 | |
Canada | 83.85 | 74.76 | 77.19 | 77.71 | 78.26 | 72.85 | 81.09 | 91.81 | 72.86 | 79.73 | |
Norway | 122.49 | 109.50 | 111.74 | 111.87 | 113.80 | 114.75 | 103.21 | 112.50 | 111.59 | 111.32 | |
United Kingdom | 116.54 | 111.55 | 104.55 | 109.54 | 110.31 | 111.07 | 101.67 | 110.62 | 108.94 | 107.57 | |
Europe | 121.25 | 109.89 | 109.67 | 111.51 | 113.08 | 114.11 | 102.74 | 112.28 | 110.96 | 110.56 | |
Australia/Timor-Leste | 113.00 | 103.53 | 105.47 | 103.31 | 106.66 | 107.76 | 97.11 | 103.84 | 107.26 | 104.17 | |
China | 122.02 | 113.71 | 107.68 | 105.01 | 109.94 | 110.91 | 98.58 | 106.36 | 106.17 | 105.50 | |
Indonesia | 109.16 | 96.96 | 91.45 | 93.95 | 98.21 | 93.32 | 83.15 | 93.35 | 95.66 | 91.37 | |
Malaysia | - | - | - | - | - | 119.87 | 108.67 | 114.90 | 118.29 | 115.44 | |
Vietnam | 126.02 | - | - | - | 126.02 | - | - | - | - | - | |
AP/ME | 117.66 | 109.12 | 105.12 | 103.34 | 108.20 | 109.35 | 97.77 | 105.43 | 106.43 | 104.78 | |
Libya | 121.68 | 109.52 | 108.00 | 109.95 | 110.75 | 112.18 | 102.82 | 107.49 | - | 107.21 | |
Other International | 121.68 | 109.52 | 108.00 | 109.95 | 110.75 | 112.18 | 102.82 | 107.49 | - | 107.21 | |
Total consolidated operations | 111.91 | 105.77 | 102.79 | 103.16 | 105.86 | 106.17 | 100.31 | 106.85 | 100.67 | 103.50 | |
Equity affiliates | 111.37 | 99.28 | 96.57 | 100.90 | 102.80 | 100.27 | 93.41 | 99.41 | 98.81 | 97.92 | |
Total continuing operations | 111.88 | 105.43 | 102.54 | 103.08 | 105.72 | 105.97 | 100.07 | 106.60 | 100.61 | 103.32 | |
Discontinued operations (Algeria and Nigeria) | 122.73 | 108.92 | 106.97 | 112.15 | 112.90 | 112.62 | 103.45 | 110.28 | 110.29 | 109.72 | |
Total | 112.33 | 105.56 | 102.72 | 103.33 | 105.98 | 106.20 | 100.14 | 106.74 | 100.83 | 103.51 | |
NGL ($/BBL) | |||||||||||
Consolidated operations | |||||||||||
Lower 48 | 44.90 | 34.62 | 31.40 | 31.32 | 35.45 | 29.58 | 29.30 | 32.57 | 34.33 | 31.48 | |
Canada | 54.13 | 48.66 | 45.31 | 46.28 | 48.64 | 50.15 | 44.08 | 46.90 | 47.57 | 47.19 | |
Norway | 57.56 | 53.57 | 55.56 | 72.71 | 59.22 | 59.77 | 52.15 | 56.29 | 64.13 | 59.08 | |
United Kingdom | 61.10 | 56.38 | 59.72 | 74.83 | 63.84 | 60.61 | 46.32 | 58.58 | 61.69 | 57.48 | |
Europe | 59.29 | 54.81 | 57.62 | 73.94 | 61.53 | 60.10 | 49.29 | 57.36 | 63.01 | 58.36 | |
Australia/Timor-Leste | 88.97 | 70.98 | 74.68 | 85.00 | 80.03 | 77.42 | 67.48 | 71.92 | 81.14 | 74.79 | |
Indonesia | 90.85 | 72.30 | 63.40 | 84.60 | 77.58 | 78.10 | 64.58 | 69.97 | 72.47 | 71.23 | |
AP/ME | 89.56 | 71.39 | 71.06 | 84.88 | 79.26 | 77.59 | 66.54 | 71.35 | 79.29 | 73.82 | |
Total consolidated operations | 53.26 | 42.77 | 40.02 | 42.38 | 44.62 | 40.87 | 36.21 | 39.44 | 41.89 | 39.60 | |
Equity affiliates | 88.24 | 70.28 | 62.18 | 86.97 | 77.30 | 77.32 | 64.63 | 69.90 | 83.05 | 73.31 | |
Total continuing operations | 55.03 | 44.36 | 41.08 | 44.93 | 46.36 | 42.95 | 37.80 | 41.14 | 43.82 | 41.42 | |
Discontinued operations (Nigeria) | 11.97 | 15.34 | 14.26 | 11.06 | 13.30 | 12.30 | 13.13 | 15.76 | 16.13 | 14.58 | |
Total | 54.11 | 43.55 | 40.39 | 44.15 | 45.55 | 42.41 | 37.24 | 40.47 | 43.07 | 40.79 | |
Bitumen ($/BBL) | |||||||||||
Consolidated operations | 64.95 | 54.75 | 56.23 | 55.29 | 57.58 | 36.78 | 59.67 | 76.90 | 44.73 | 55.25 | |
Equity affiliates | 60.04 | 50.85 | 56.95 | 47.43 | 53.39 | 39.52 | 55.13 | 75.93 | 43.64 | 53.00 | |
Total | 60.66 | 51.38 | 56.86 | 48.32 | 53.91 | 39.23 | 55.69 | 76.06 | 43.76 | 53.27 | |
Natural Gas ($/MCF) | |||||||||||
Consolidated operations | |||||||||||
Alaska | 4.68 | 3.93 | 3.97 | 4.28 | 4.22 | 5.20 | 4.03 | 4.09 | 3.74 | 4.35 | |
Lower 48 | 2.65 | 2.10 | 2.64 | 3.24 | 2.67 | 3.19 | 3.85 | 3.39 | 3.55 | 3.50 | |
Canada | 1.98 | 1.61 | 2.05 | 2.92 | 2.13 | 2.89 | 3.28 | 2.42 | 3.09 | 2.92 | |
Norway | 10.40 | 9.58 | 8.47 | 10.26 | 9.77 | 10.69 | 10.42 | 11.11 | 11.24 | 10.89 | |
United Kingdom | 9.80 | 9.49 | 9.06 | 10.72 | 9.76 | 10.87 | 10.19 | 10.12 | 11.04 | 10.58 | |
Europe | 9.98 | 9.52 | 8.87 | 10.56 | 9.76 | 10.81 | 10.26 | 10.48 | 11.11 | 10.68 | |
Australia/Timor-Leste* | 1.10 | 1.10 | 1.18 | 1.12 | 1.12 | 1.10 | 1.11 | 1.81 | 1.09 | 1.28 | |
China | - | 2.46 | 2.44 | 2.39 | 2.41 | 2.50 | 2.52 | 2.54 | 3.30 | 2.70 | |
Indonesia | 10.37 | 12.85 | 9.94 | 10.14 | 10.80 | 11.57 | 10.56 | 11.01 | 10.04 | 10.78 | |
Vietnam | 1.15 | - | - | - | 1.15 | - | - | - | - | - | |
AP/ME | 10.40 | 11.47 | 10.64 | 10.15 | 10.63 | 11.20 | 10.62 | 10.81 | 9.83 | 10.61 | |
Libya | 0.09 | 0.09 | 6.77 | 5.19 | 5.55 | 4.86 | 4.65 | 5.92 | 7.37 | 5.38 | |
Other International | 0.09 | 0.09 | 6.77 | 5.19 | 5.55 | 4.86 | 4.65 | 5.92 | 7.37 | 5.38 | |
Total consolidated operations | 5.20 | 4.72 | 4.86 | 5.50 | 5.07 | 5.75 | 5.88 | 5.49 | 5.73 | 5.71 | |
Equity affiliates | 8.62 | 8.98 | 8.66 | 7.90 | 8.54 | 9.36 | 8.84 | 9.35 | 8.29 | 8.98 | |
Total continuing operations | 5.61 | 5.25 | 5.28 | 5.79 | 5.48 | 6.19 | 6.25 | 5.99 | 6.02 | 6.11 | |
Discontinued operations (Nigeria) | 2.53 | 2.51 | 2.84 | 2.32 | 2.57 | 2.54 | 2.98 | 2.58 | 2.36 | 2.60 | |
Total | 5.49 | 5.14 | 5.18 | 5.69 | 5.38 | 6.09 | 6.15 | 5.88 | 5.88 | 6.00 | |
*Excludes transfers to Darwin LNG plant. | |||||||||||
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2012 | 2013 | |||||||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | |||||||||||||
CORPORATE AND OTHER | ||||||||||||||||||||||
Corporate and Other Earnings (Loss) ($ Millions) | (311 | ) | (262 | ) | (254 | ) | (166 | ) | (993 | ) | (162 | ) | (173 | ) | (234 | ) | (251 | ) | (820 | ) | ||
Detail of Earnings (Loss) ($ Millions) | ||||||||||||||||||||||
Net interest expense | (161 | ) | (160 | ) | (214 | ) | (113 | ) | (648 | ) | (108 | ) | (127 | ) | (124 | ) | (171 | ) | (530 | ) | ||
Corporate G&A expenses | (74 | ) | (44 | ) | (128 | ) | (67 | ) | (313 | ) | (27 | ) | (43 | ) | (77 | ) | (66 | ) | (213 | ) | ||
Technology* | (18 | ) | (22 | ) | 46 | (10 | ) | (4 | ) | (8 | ) | 41 | (26 | ) | (13 | ) | (6 | ) | ||||
Separation costs | (33 | ) | (40 | ) | (7 | ) | (4 | ) | (84 | ) | - | - | - | - | - | |||||||
Other | (25 | ) | 4 | 49 | 28 | 56 | (19 | ) | (44 | ) | (7 | ) | (1 | ) | (71 | ) | ||||||
Total | (311 | ) | (262 | ) | (254 | ) | (166 | ) | (993 | ) | (162 | ) | (173 | ) | (234 | ) | (251 | ) | (820 | ) | ||
*Includes investment in new technologies or businesses outside of our normal scope of operations and is net of licensing revenues. | ||||||||||||||||||||||
Before-Tax Net Interest Expense ($ Millions) | ||||||||||||||||||||||
Interest expense | (309 | ) | (315 | ) | (294 | ) | (303 | ) | (1,221 | ) | (287 | ) | (303 | ) | (303 | ) | (306 | ) | (1,199 | ) | ||
Capitalized interest | 146 | 145 | 157 | 167 | 615 | 179 | 186 | 172 | 130 | 667 | ||||||||||||
Interest revenue | 11 | 18 | 7 | 60 | 96 | 10 | 28 | 10 | 12 | 60 | ||||||||||||
Premium on early debt retirement | - | - | (79 | ) | - | (79 | ) | - | - | - | - | - | ||||||||||
Total | (152 | ) | (152 | ) | (209 | ) | (76 | ) | (589 | ) | (98 | ) | (89 | ) | (121 | ) | (164 | ) | (472 | ) | ||
Debt | ||||||||||||||||||||||
Total debt ($ Millions) | 28,360 | 23,008 | 21,117 | 21,725 | 21,725 | 21,670 | 21,721 | 21,668 | 21,662 | 21,662 | ||||||||||||
Debt-to-capital ratio (%) | 30 | % | 33 | % | 31 | % | 31 | % | 31 | % | 31 | % | 31 | % | 30 | % | 29 | % | 29 | % | ||
Equity ($ Millions) | 67,057 | 46,443 | 47,877 | 48,427 | 48,427 | 49,240 | 48,932 | 51,537 | 52,492 | 52,492 | ||||||||||||
REFERENCE | ||||||||||||||||||||||
Commonly Used Abbreviations | ||||||||||||||||||||||
Earnings | Net Income (Loss) Attributable to ConocoPhillips | |||||||||||||||||||||
DD&A | Depreciation, Depletion and Amortization | |||||||||||||||||||||
G&G | Geological and Geophysical | |||||||||||||||||||||
G&A | General and Administrative | |||||||||||||||||||||
IFRS | International Financial Reporting Standards | |||||||||||||||||||||
JCC | Japan Crude Cocktail | |||||||||||||||||||||
LNG | Liquefied Natural Gas | |||||||||||||||||||||
NGL | Natural Gas Liquids | |||||||||||||||||||||
WCS | Western Canada Select | |||||||||||||||||||||
WTI | West Texas Intermediate | |||||||||||||||||||||
Units of Measure | ||||||||||||||||||||||
BBL | Barrels | |||||||||||||||||||||
MMBBL | Millions of Barrels | |||||||||||||||||||||
MBD | Thousands of Barrels per Day | |||||||||||||||||||||
MBOED | Thousands of Barrels of Oil Equivalent per Day | |||||||||||||||||||||
MCF | Thousands of Cubic Feet | |||||||||||||||||||||
MMBTU | Millions of British Thermal Units | |||||||||||||||||||||
MMCFD | Millions of Cubic Feet per Day |
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