Exhibit 99.2
First-Quarter 2014 Detailed Supplemental Information | ||||||||||||||||||
2013 | 2014 | |||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
$ Millions, Except as Indicated | ||||||||||||||||||
CONSOLIDATED INCOME STATEMENT | ||||||||||||||||||
Revenues and Other Income | ||||||||||||||||||
Sales and other operating revenues | 14,166 | 13,350 | 13,643 | 13,254 | 54,413 | 15,415 | 15,415 | |||||||||||
Equity in earnings of affiliates | 362 | 494 | 709 | 654 | 2,219 | 572 | 572 | |||||||||||
Gain on dispositions | 58 | 95 | 1,069 | 20 | 1,242 | 9 | 9 | |||||||||||
Other income | 65 | 203 | 49 | 57 | 374 | 52 | 52 | |||||||||||
Total Revenues and Other Income | 14,651 | 14,142 | 15,470 | 13,985 | 58,248 | 16,048 | 16,048 | |||||||||||
Costs and Expenses | ||||||||||||||||||
Purchased commodities | 5,834 | 5,521 | 5,708 | 5,580 | 22,643 | 7,127 | 7,127 | |||||||||||
Production and operating expenses | 1,687 | 1,672 | 1,962 | 1,917 | 7,238 | 1,895 | 1,895 | |||||||||||
Selling, general and administrative expenses | 165 | 193 | 249 | 247 | 854 | 182 | 182 | |||||||||||
Exploration expenses | 277 | 321 | 313 | 321 | 1,232 | 296 | 296 | |||||||||||
Depreciation, depletion and amortization | 1,807 | 1,832 | 1,902 | 1,893 | 7,434 | 1,892 | 1,892 | |||||||||||
Impairments | 2 | 28 | 1 | 498 | 529 | 1 | 1 | |||||||||||
Taxes other than income taxes | 892 | 642 | 664 | 686 | 2,884 | 651 | 651 | |||||||||||
Accretion on discounted liabilities | 106 | 105 | 106 | 117 | 434 | 117 | 117 | |||||||||||
Interest and debt expense | 130 | 139 | 151 | 192 | 612 | 171 | 171 | |||||||||||
Foreign currency transaction (gains) losses | (36 | ) | (7 | ) | 9 | (24 | ) | (58 | ) | 18 | 18 | |||||||
Total Costs and Expenses | 10,864 | 10,446 | 11,065 | 11,427 | 43,802 | 12,350 | 12,350 | |||||||||||
Income from continuing operations before income taxes | 3,787 | 3,696 | 4,405 | 2,558 | 14,446 | 3,698 | 3,698 | |||||||||||
Provision for income taxes | 1,763 | 1,630 | 1,966 | 1,050 | 6,409 | 1,581 | 1,581 | |||||||||||
Income from continuing operations | 2,024 | 2,066 | 2,439 | 1,508 | 8,037 | 2,117 | 2,117 | |||||||||||
Income from discontinued operations | 129 | (3 | ) | 57 | 995 | 1,178 | 20 | 20 | ||||||||||
Net Income | 2,153 | 2,063 | 2,496 | 2,503 | 9,215 | 2,137 | 2,137 | |||||||||||
Less: net income attributable to noncontrolling interests | (14 | ) | (13 | ) | (16 | ) | (16 | ) | (59 | ) | (14 | ) | (14 | ) | ||||
Net Income Attributable to ConocoPhillips | 2,139 | 2,050 | 2,480 | 2,487 | 9,156 | 2,123 | 2,123 | |||||||||||
Net Income Attributable to ConocoPhillips | ||||||||||||||||||
Per Share of Common Stock (dollars) | ||||||||||||||||||
Basic | ||||||||||||||||||
Continuing operations | 1.64 | 1.66 | 1.96 | 1.20 | 6.47 | 1.70 | 1.70 | |||||||||||
Discontinued operations | 0.10 | - | 0.05 | 0.81 | 0.96 | 0.02 | 0.02 | |||||||||||
Net Income Attributable to ConocoPhillips | ||||||||||||||||||
Per Share of Common Stock | 1.74 | 1.66 | 2.01 | 2.01 | 7.43 | 1.72 | 1.72 | |||||||||||
Diluted | ||||||||||||||||||
Continuing operations | 1.63 | 1.65 | 1.95 | 1.20 | 6.43 | 1.69 | 1.69 | |||||||||||
Discontinued operations | 0.10 | - | 0.05 | 0.80 | 0.95 | 0.02 | 0.02 | |||||||||||
Net Income Attributable to ConocoPhillips | ||||||||||||||||||
Per Share of Common Stock | 1.73 | 1.65 | 2.00 | 2.00 | 7.38 | 1.71 | 1.71 | |||||||||||
Average Common Shares Outstanding (in thousands) | ||||||||||||||||||
Basic | 1,229,232 | 1,229,773 | 1,231,054 | 1,233,741 | 1,230,963 | 1,234,968 | 1,234,968 | |||||||||||
Diluted | 1,235,907 | 1,237,157 | 1,240,365 | 1,241,112 | 1,239,803 | 1,242,667 | 1,242,667 |
INCOME (LOSS) FROM CONTINUING | ||||||||||||||||||
OPERATIONS BEFORE INCOME TAXES |
| |||||||||||||||||
Alaska | 842 | 1,060 | 787 | 860 | 3,549 | 930 |
|
|
| 930 | ||||||||
Lower 48 and Latin America | 260 | 352 | 765 | 237 | 1,614 | 512 | 512 | |||||||||||
Canada | (117 | ) | 10 | 868 | (87 | ) | 674 | 466 | 466 | |||||||||
Europe | 1,191 | 625 | 960 | 747 | 3,523 | 1,037 | 1,037 | |||||||||||
Asia Pacific and Middle East | 1,393 | 1,416 | 1,120 | 1,173 | 5,102 | 1,093 | 1,093 | |||||||||||
Other International | 401 | 381 | 196 | (50 | ) | 928 | (59 | ) | (59 | ) | ||||||||
Corporate and Other | (183 | ) | (148 | ) | (291 | ) | (322 | ) | (944 | ) | (281 | ) | (281 | ) | ||||
Consolidated | 3,787 | 3,696 | 4,405 | 2,558 | 14,446 | 3,698 | 3,698 | |||||||||||
EFFECTIVE INCOME TAX RATES FOR | ||||||||||||||||||
CONTINUING OPERATIONS | ||||||||||||||||||
Alaska* | 35.5 | % | 35.7 | % | 37.1 | % | 35.4 | % | 35.9 | % | 35.6 | % | 35.6 | % | ||||
Lower 48 and Latin America | 49.1 | % | 29.6 | % | 34.9 | % | 14.9 | % | 33.1 | % | 37.5 | % | 37.5 | % | ||||
Canada | 213.7 | % | 52.2 | % | 26.0 | % | 29.3 | % | -6.6 | % | 23.7 | % | 23.7 | % | ||||
Europe | 63.8 | % | 58.3 | % | 70.4 | % | 70.1 | % | 66.0 | % | 66.9 | % | 66.9 | % | ||||
Asia Pacific and Middle East | 33.1 | % | 27.2 | % | 32.4 | % | 25.8 | % | 29.6 | % | 30.9 | % | 30.9 | % | ||||
Other International | 96.5 | % | 96.2 | % | 101.2 | % | 36.7 | % | 100.6 | % | 64.1 | % | 64.1 | % | ||||
Corporate and Other | 11.7 | % | -16.8 | % | 19.4 | % | 22.0 | % | 13.1 | % | 16.4 | % | 16.4 | % | ||||
Consolidated | 46.6 | % | 44.1 | % | 44.6 | % | 41.1 | % | 44.4 | % | 42.8 | % | 42.8 | % | ||||
*Alaska including taxes other than income taxes | 61.6 | % | 52.9 | % | 57.8 | % | 56.2 | % | 57.1 | % | 51.6 | % | 51.6 | % |
1 of 8
2013 |
| 2014 | ||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
$ Millions | ||||||||||||||||||
EARNINGS BY SEGMENT | ||||||||||||||||||
Alaska | 543 | 682 | 494 | 555 | 2,274 | 598 |
|
|
| 598 | ||||||||
Lower 48 and Latin America* | 133 | 247 | 498 | 203 | 1,081 | 320 | 320 | |||||||||||
Canada | 133 | 5 | 642 | (62 | ) | 718 | 356 | 356 | ||||||||||
Europe | 431 | 261 | 284 | 223 | 1,199 | 343 | 343 | |||||||||||
Asia Pacific and Middle East | 918 | 1,017 | 741 | 856 | 3,532 | 742 | 742 | |||||||||||
Other International | 14 | 14 | (2 | ) | (32 | ) | (6 | ) | (21 | ) | (21 | ) | ||||||
Corporate and Other | (162 | ) | (173 | ) | (234 | ) | (251 | ) | (820 | ) | (235 | ) | (235 | ) | ||||
Discontinued Operations | 129 | (3 | ) | 57 | 995 | 1,178 | 20 | 20 | ||||||||||
Consolidated | 2,139 | 2,050 | 2,480 | 2,487 | 9,156 | 2,123 | 2,123 | |||||||||||
*Lower 48 only: | 105 | 233 | 210 | 206 | 754 | 324 | 324 | |||||||||||
SPECIAL ITEMS (AFTER-TAX) | ||||||||||||||||||
Alaska | - | 97 | - | - | 97 | - | - | |||||||||||
Lower 48 and Latin America* | (60 | ) | 69 | 288 | - | 297 | (122 | ) | (122 | ) | ||||||||
Canada | 224 | - | 461 | (129 | ) | 556 | - | - | ||||||||||
Europe | 83 | - | - | (107 | ) | (24 | ) | - | - | |||||||||
Asia Pacific and Middle East | - | 146 | (116 | ) | - | 30 | (28 | ) | (28 | ) | ||||||||
Other International | - | - | - | - | - | - | - | |||||||||||
Corporate and Other | 11 | (9 | ) | (31 | ) | (10 | ) | (39 | ) | - | - | |||||||
Discontinued Operations | 129 | (3 | ) | 57 | 995 | 1,178 | 20 | 20 | ||||||||||
Consolidated | 387 | 300 | 659 | 749 | 2,095 | (130 | ) | (130 | ) | |||||||||
*Lower 48 only: | (60 | ) | 69 | - | - | 9 | (122 | ) | (122 | ) | ||||||||
ADJUSTED EARNINGS | ||||||||||||||||||
Alaska | 543 | 585 | 494 | 555 | 2,177 | 598 | 598 | |||||||||||
Lower 48 and Latin America* | 193 | 178 | 210 | 203 | 784 | 442 | 442 | |||||||||||
Canada | (91 | ) | 5 | 181 | 67 | 162 | 356 | 356 | ||||||||||
Europe | 348 | 261 | 284 | 330 | 1,223 | 343 | 343 | |||||||||||
Asia Pacific and Middle East | 918 | 871 | 857 | 856 | 3,502 | 770 | 770 | |||||||||||
Other International | 14 | 14 | (2 | ) | (32 | ) | (6 | ) | (21 | ) | (21 | ) | ||||||
Corporate and Other | (173 | ) | (164 | ) | (203 | ) | (241 | ) | (781 | ) | (235 | ) | (235 | ) | ||||
Consolidated | 1,752 | 1,750 | 1,821 | 1,738 | 7,061 | 2,253 | 2,253 | |||||||||||
*Lower 48 only: | 165 | 164 | 210 | 206 | 745 | 446 | 446 | |||||||||||
ADJUSTED EFFECTIVE INCOME TAX RATES FOR | ||||||||||||||||||
CONTINUING OPERATIONS | ||||||||||||||||||
Alaska | 35.5 | % | 35.6 | % | 37.1 | % | 35.4 | % | 35.9 | % | 35.6 | % | 35.6 | % | ||||
Lower 48 and Latin America | 40.2 | % | 35.5 | % | 39.6 | % | 14.9 | % | 33.9 | % | 37.0 | % | 37.0 | % | ||||
Canada | 22.2 | % | 52.2 | % | 28.7 | % | 20.6 | % | 30.0 | % | 23.7 | % | 23.7 | % | ||||
Europe | 68.4 | % | 58.3 | % | 70.4 | % | 67.9 | % | 67.1 | % | 66.9 | % | 66.9 | % | ||||
Asia Pacific and Middle East | 34.1 | % | 31.2 | % | 31.5 | % | 25.8 | % | 30.3 | % | 30.1 | % | 30.1 | % | ||||
Other International | 96.5 | % | 96.2 | % | 101.2 | % | 36.7 | % | 100.6 | % | 64.1 | % | 64.1 | % | ||||
Corporate and Other | 11.0 | % | -19.6 | % | 15.5 | % | 21.2 | % | 11.0 | % | 16.4 | % | 16.4 | % | ||||
Consolidated | 53.3 | % | 47.4 | % | 48.7 | % | 42.1 | % | 48.0 | % | 42.1 | % | 42.1 | % | ||||
The income tax effects of the special items are calculated based on the statutory rate of the jurisdiction in which the discrete item resides. |
2 of 8
2013 |
| 2014 | ||||||||||||||||
$ Millions | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||
DETAILED SPECIAL ITEMS (AFTER-TAX) |
|
|
| |||||||||||||||
Alaska | ||||||||||||||||||
Pending claims and settlements | - | 97 | - | - | 97 | - | - | |||||||||||
Total | - | 97 | - | - | 97 | - | - | |||||||||||
Lower 48 and Latin America* | ||||||||||||||||||
Gain (loss) on asset sales | (39 | ) | 47 | 288 | - | 296 | - | - | ||||||||||
Loss on capacity agreements | - | - | - | - | - | (83 | ) | (83 | ) | |||||||||
Tax loss carryforward realization | (21 | ) | 22 | - | - | 1 | - | - | ||||||||||
Pending claims and settlements | - | - | - | - | - | (39 | ) | (39 | ) | |||||||||
Total | (60 | ) | 69 | 288 | - | 297 | (122 | ) | (122 | ) | ||||||||
Canada | ||||||||||||||||||
Gain (loss) on asset sales | 224 | - | 461 | - | 685 | - | - | |||||||||||
Impairments | - | - | - | (162 | ) | (162 | ) | - | - | |||||||||
FCCL IFRS depreciation adjustment | - | - | - | 33 | 33 | - | - | |||||||||||
Total | 224 | - | 461 | (129 | ) | 556 | - | - | ||||||||||
Europe | ||||||||||||||||||
Gain (loss) on asset sales | 83 | - | - | - | 83 | - | - | |||||||||||
Impairments | - | - | - | (107 | ) | (107 | ) | - | - | |||||||||
Total | 83 | - | - | (107 | ) | (24 | ) | - | - | |||||||||
Asia Pacific and Middle East | ||||||||||||||||||
Qatar depreciation adjustment | - | - | - | - | - | (28 | ) | (28 | ) | |||||||||
Pending claims and settlements | - | 146 | (116 | ) | - | 30 | - | - | ||||||||||
Total | - | 146 | (116 | ) | - | 30 | (28 | ) | (28 | ) | ||||||||
Other International | ||||||||||||||||||
Total | - | - | - | - | - | - | - | |||||||||||
Corporate and Other | ||||||||||||||||||
Gain (loss) on asset sales | 11 | - | - | - | 11 | - | - | |||||||||||
Pension settlement expense | - | - | (31 | ) | (10 | ) | (41 | ) | - | - | ||||||||
Pending claims and settlements | - | (9 | ) | - | - | (9 | ) | - | - | |||||||||
Total | 11 | (9 | ) | (31 | ) | (10 | ) | (39 | ) | - | - | |||||||
Discontinued Operations | 129 | (3 | ) | 57 | 995 | 1,178 | 20 | 20 | ||||||||||
Total Company | 387 | 300 | 659 | 749 | 2,095 | (130 | ) | (130 | ) | |||||||||
*Lower 48 only: | (60 | ) | 69 | - | - | 9 | (122 | ) | (122 | ) |
3 of 8
2013 |
| 2014 | ||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
$ Millions | ||||||||||||||||||
CASH FLOW INFORMATION | ||||||||||||||||||
Cash Flows from Operating Activities |
|
|
| |||||||||||||||
Net income | 2,153 | 2,063 | 2,496 | 2,503 | 9,215 | 2,137 | 2,137 | |||||||||||
Depreciation, depletion and amortization | 1,807 | 1,832 | 1,902 | 1,893 | 7,434 | 1,892 | 1,892 | |||||||||||
Impairments | 2 | 28 | 1 | 498 | 529 | 1 | 1 | |||||||||||
Dry hole costs and leasehold impairments | 36 | 176 | 133 | 98 | 443 | 69 | 69 | |||||||||||
Accretion on discounted liabilities | 106 | 105 | 106 | 117 | 434 | 117 | 117 | |||||||||||
Deferred taxes | 241 | 443 | 458 | 169 | 1,311 | 230 | 230 | |||||||||||
Undistributed equity earnings | (29 | ) | (199 | ) | (357 | ) | (237 | ) | (822 | ) | 1,131 | 1,131 | ||||||
Gain on dispositions | (58 | ) | (95 | ) | (1,069 | ) | (20 | ) | (1,242 | ) | (9 | ) | (9 | ) | ||||
Income from discontinued operations | (129 | ) | 3 | (57 | ) | (995 | ) | (1,178 | ) | (20 | ) | (20 | ) | |||||
Other | (503 | ) | 17 | 206 | (91 | ) | (371 | ) | 116 | 116 | ||||||||
Net working capital changes | 982 | (684 | ) | (175 | ) | (75 | ) | 48 | 614 | 614 | ||||||||
Net cash provided by continuing operations | 4,608 | 3,689 | 3,644 | 3,860 | 15,801 | 6,278 | 6,278 | |||||||||||
Net cash provided by discontinued operations | 122 | 52 | 61 | 51 | 286 | 58 | 58 | |||||||||||
Net Cash Provided by Operating Activities | 4,730 | 3,741 | 3,705 | 3,911 | 16,087 | 6,336 | 6,336 | |||||||||||
Cash Flows from Investing Activities | ||||||||||||||||||
Capital expenditures and investments | (3,391 | ) | (3,705 | ) | (4,185 | ) | (4,256 | ) | (15,537 | ) | (3,895 | ) | (3,895 | ) | ||||
Proceeds from asset dispositions | 1,134 | 542 | 1,499 | 7,045 | 10,220 | 48 | 48 | |||||||||||
Net sales (purchases) of short-term investments | (23 | ) | (51 | ) | 75 | (264 | ) | (263 | ) | 63 | 63 | |||||||
Long-term collections from related parties | ||||||||||||||||||
and other investments | 36 | (11 | ) | 54 | (146 | ) | (67 | ) | 108 | 108 | ||||||||
Net cash provided by (used in) continuing operations | (2,244 | ) | (3,225 | ) | (2,557 | ) | 2,379 | (5,647 | ) | (3,676 | ) | (3,676 | ) | |||||
Net cash used in discontinued operations | (189 | ) | (190 | ) | (161 | ) | (64 | ) | (604 | ) | (22 | ) | (22 | ) | ||||
Net Cash Provided by (Used in) Investing Activities | (2,433 | ) | (3,415 | ) | (2,718 | ) | 2,315 | (6,251 | ) | (3,698 | ) | (3,698 | ) | |||||
Cash Flows from Financing Activities | ||||||||||||||||||
Repayment of debt | (48 | ) | (850 | ) | (48 | ) | - | (946 | ) | (450 | ) | (450 | ) | |||||
Change in restricted cash | 748 | - | - | - | 748 | - | - | |||||||||||
Issuance of company common stock | (10 | ) | 5 | 17 | 8 | 20 | (32 | ) | (32 | ) | ||||||||
Dividends paid | (815 | ) | (814 | ) | (852 | ) | (853 | ) | (3,334 | ) | (855 | ) | (855 | ) | ||||
Other | (205 | ) | (186 | ) | (202 | ) | (3,028 | ) | (3,621 | ) | (17 | ) | (17 | ) | ||||
Net cash used in continuing operations | (330 | ) | (1,845 | ) | (1,085 | ) | (3,873 | ) | (7,133 | ) | (1,354 | ) | (1,354 | ) | ||||
Net cash used in discontinued operations | - | - | - | - | - | - | - | |||||||||||
Net Cash Used in Financing Activities | (330 | ) | (1,845 | ) | (1,085 | ) | (3,873 | ) | (7,133 | ) | (1,354 | ) | (1,354 | ) | ||||
Effect of Exchange Rate Changes | (163 | ) | 6 | 72 | 10 | (75 | ) | (10 | ) | (10 | ) | |||||||
Net Change in Cash and Cash Equivalents | 1,804 | (1,513 | ) | (26 | ) | 2,363 | 2,628 | 1,274 | 1,274 | |||||||||
Cash and cash equivalents at beginning of period | 3,618 | 5,422 | 3,909 | 3,883 | 3,618 | 6,246 | 6,246 | |||||||||||
Cash and Cash Equivalents at End of Period | 5,422 | 3,909 | 3,883 | 6,246 | 6,246 | 7,520 | 7,520 | |||||||||||
CAPITAL PROGRAM | ||||||||||||||||||
Capital expenditures and investments | ||||||||||||||||||
Alaska | 262 | 283 | 291 | 304 | 1,140 | 415 | 415 | |||||||||||
Lower 48 and Latin America | 1,280 | 1,377 | 1,244 | 1,333 | 5,234 | 1,318 | 1,318 | |||||||||||
Canada | 675 | 422 | 505 | 630 | 2,232 | 622 | 622 | |||||||||||
Europe | 791 | 765 | 791 | 768 | 3,115 | 613 | 613 | |||||||||||
Asia Pacific and Middle East | 337 | 827 | 1,142 | 1,076 | 3,382 | 848 | 848 | |||||||||||
Other International | 19 | 4 | 169 | 60 | 252 | 44 | 44 | |||||||||||
Corporate and Other | 27 | 27 | 43 | 85 | 182 | 35 | 35 | |||||||||||
Total capital expenditures and investments | 3,391 | 3,705 | 4,185 | 4,256 | 15,537 | 3,895 | 3,895 | |||||||||||
Joint venture acquisition obligation (principal) - Canada* | 189 | 192 | 194 | 197 | 772 | - | - | |||||||||||
Total Capital Program | 3,580 | 3,897 | 4,379 | 4,453 | 16,309 | 3,895 | 3,895 | |||||||||||
Capital Program for Algeria, Nigeria and Kashagan: | 189 | 190 | 161 | 69 | 609 | 22 | 22 | |||||||||||
*Excludes $2,810 million prepayment in the fourth quarter of 2013. |
4 of 8
2013 |
| 2014 | ||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||
TOTAL SEGMENTS | ||||||||||||||
Production | ||||||||||||||
Total (MBOED) | ||||||||||||||
Continuing operations, including equity affiliates | 1,555 | 1,510 | 1,470 | 1,473 | 1,502 | 1,532 | 1,532 | |||||||
Discontinued operations (Algeria and Nigeria) | 41 | 42 | 44 | 45 | 43 | 36 | 36 | |||||||
Total, including equity affiliates | 1,596 | 1,552 | 1,514 | 1,518 | 1,545 | 1,568 | 1,568 | |||||||
Crude Oil (MBD) | ||||||||||||||
Consolidated operations | 606 | 565 | 532 | 543 | 562 | 581 | 581 | |||||||
Equity affiliates | 20 | 20 | 20 | 17 | 19 | 18 | 18 | |||||||
Total continuing operations | 626 | 585 | 552 | 560 | 581 | 599 | 599 | |||||||
Discontinued operations (Algeria and Nigeria) | 20 | 18 | 19 | 15 | 18 | 8 | 8 | |||||||
Total | 646 | 603 | 571 | 575 | 599 | 607 | 607 | |||||||
Over (under) lifting of crude oil (MBD)* | (9 | ) | 4 | 19 | 11 | 6 | (16 | ) | (16 | ) | ||||
*Includes continuing and discontinued operations. | ||||||||||||||
NGL (MBD) | ||||||||||||||
Consolidated operations | 151 | 150 | 148 | 144 | 149 | 152 | 152 | |||||||
Equity affiliates | 8 | 8 | 8 | 6 | 7 | 7 | 7 | |||||||
Total continuing operations | 159 | 158 | 156 | 150 | 156 | 159 | 159 | |||||||
Discontinued operations (Nigeria) | 3 | 3 | 4 | 4 | 3 | 3 | 3 | |||||||
Total | 162 | 161 | 160 | 154 | 159 | 162 | 162 | |||||||
Bitumen (MBD) | ||||||||||||||
Consolidated operations | 13 | 12 | 13 | 13 | 13 | 13 | 13 | |||||||
Equity affiliates | 96 | 88 | 94 | 106 | 96 | 111 | 111 | |||||||
Total | 109 | 100 | 107 | 119 | 109 | 124 | 124 | |||||||
Natural Gas (MMCFD) | ||||||||||||||
Consolidated operations | 3,479 | 3,505 | 3,423 | 3,427 | 3,458 | 3,432 | 3,432 | |||||||
Equity affiliates | 483 | 493 | 507 | 439 | 481 | 469 | 469 | |||||||
Total continuing operations | 3,962 | 3,998 | 3,930 | 3,866 | 3,939 | 3,901 | 3,901 | |||||||
Discontinued operations (Nigeria) | 110 | 128 | 125 | 155 | 129 | 149 | 149 | |||||||
Total | 4,072 | 4,126 | 4,055 | 4,021 | 4,068 | 4,050 | 4,050 | |||||||
Industry Prices | ||||||||||||||
Crude Oil ($/BBL) | ||||||||||||||
WTI | 94.29 | 94.12 | 105.80 | 97.38 | 97.90 | 98.75 | 98.75 | |||||||
WCS | 62.41 | 75.06 | 88.35 | 65.26 | 72.77 | 75.55 | 75.55 | |||||||
Brent dated | 112.55 | 102.44 | 110.32 | 109.27 | 108.65 | 108.22 | 108.22 | |||||||
JCC | 114.19 | 113.07 | 107.36 | 107.94 | 110.64 | 112.78 | 112.78 | |||||||
Natural Gas ($/MMBTU) | ||||||||||||||
Henry Hub first of month | 3.34 | 4.10 | 3.58 | 3.60 | 3.65 | 4.94 | 4.94 | |||||||
Average Realized Prices | ||||||||||||||
Crude Oil ($/BBL) | ||||||||||||||
Consolidated operations | 106.17 | 100.31 | 106.85 | 100.67 | 103.50 | 101.71 | 101.71 | |||||||
Equity affiliates | 100.27 | 93.41 | 99.41 | 98.81 | 97.92 | 97.83 | 97.83 | |||||||
Total continuing operations | 105.97 | 100.07 | 106.60 | 100.61 | 103.32 | 101.59 | 101.59 | |||||||
Discontinued operations (Algeria and Nigeria) | 112.62 | 103.45 | 110.28 | 110.29 | 109.72 | 108.81 | 108.81 | |||||||
Total | 106.20 | 100.14 | 106.74 | 100.83 | 103.51 | 101.69 | 101.69 | |||||||
NGL ($/BBL) | ||||||||||||||
Consolidated operations | 40.87 | 36.21 | 39.44 | 41.89 | 39.60 | 44.86 | 44.86 | |||||||
Equity affiliates | 77.32 | 64.63 | 69.90 | 83.05 | 73.31 | 79.91 | 79.91 | |||||||
Total continuing operations | 42.95 | 37.80 | 41.14 | 43.82 | 41.42 | 46.52 | 46.52 | |||||||
Discontinued operations (Nigeria) | 12.30 | 13.13 | 15.76 | 16.13 | 14.58 | 12.99 | 12.99 | |||||||
Total | 42.41 | 37.24 | 40.47 | 43.07 | 40.79 | 45.85 | 45.85 | |||||||
Bitumen ($/BBL) | ||||||||||||||
Consolidated operations | 36.78 | 59.67 | 76.90 | 44.73 | 55.25 | 61.69 | 61.69 | |||||||
Equity affiliates | 39.52 | 55.13 | 75.93 | 43.64 | 53.00 | 55.85 | 55.85 | |||||||
Total | 39.23 | 55.69 | 76.06 | 43.76 | 53.27 | 56.47 | 56.47 | |||||||
Natural Gas ($/MCF) | ||||||||||||||
Consolidated operations | 5.75 | 5.88 | 5.49 | 5.73 | 5.71 | 7.15 | 7.15 | |||||||
Equity affiliates | 9.36 | 8.84 | 9.35 | 8.29 | 8.98 | 10.43 | 10.43 | |||||||
Total continuing operations | 6.19 | 6.25 | 5.99 | 6.02 | 6.11 | 7.55 | 7.55 | |||||||
Discontinued operations (Nigeria) | 2.54 | 2.98 | 2.58 | 2.36 | 2.60 | 2.69 | 2.69 | |||||||
Total | 6.09 | 6.15 | 5.88 | 5.88 | 6.00 | 7.37 | 7.37 | |||||||
Exploration Expenses ($ Millions) | ||||||||||||||
Dry holes | 4 | 98 | 101 | 65 | 268 | 23 | 23 | |||||||
Leasehold impairment | 32 | 78 | 32 | 33 | 175 | 46 | 46 | |||||||
Total noncash expenses | 36 | 176 | 133 | 98 | 443 | 69 | 69 | |||||||
Other (G&A, G&G and lease rentals) | 241 | 145 | 180 | 223 | 789 | 227 | 227 | |||||||
Total exploration expenses | 277 | 321 | 313 | 321 | 1,232 | 296 | 296 | |||||||
U.S. exploration expenses | 152 | 196 | 165 | 178 | 691 | 150 | 150 | |||||||
International exploration expenses | 125 | 125 | 148 | 143 | 541 | 146 | 146 | |||||||
DD&A ($ Millions) | ||||||||||||||
Alaska | 135 | 135 | 124 | 136 | 530 | 132 | 132 | |||||||
Lower 48 and Latin America | 744 | 785 | 880 | 836 | 3,245 | 829 | 829 | |||||||
Canada | 343 | 345 | 330 | 297 | 1,315 | 232 | 232 | |||||||
Europe | 261 | 234 | 234 | 304 | 1,033 | 404 | 404 | |||||||
Asia Pacific and Middle East | 293 | 298 | 303 | 291 | 1,185 | 268 | 268 | |||||||
Other International | 11 | 12 | 5 | 2 | 30 | 1 | 1 | |||||||
Corporate and Other | 20 | 23 | 26 | 27 | 96 | 26 | 26 | |||||||
Total DD&A | 1,807 | 1,832 | 1,902 | 1,893 | 7,434 | 1,892 | 1,892 |
5 of 8
2013 |
| 2014 | |||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
PRODUCTION | |||||||||||
Crude Oil (MBD) | |||||||||||
Alaska | 190 | 176 | 161 | 182 | 178 | 175 | 175 | ||||
Lower 48 | 148 | 147 | 153 | 158 | 152 | 171 | 171 | ||||
Canada | 14 | 14 | 13 | 12 | 13 | 13 | 13 | ||||
Norway | 100 | 78 | 94 | 95 | 92 | 96 | 96 | ||||
United Kingdom | 24 | 22 | 17 | 23 | 21 | 39 | 39 | ||||
Europe | 124 | 100 | 111 | 118 | 113 | 135 | 135 | ||||
Australia/Timor-Leste | 13 | 15 | 13 | 10 | 13 | 12 | 12 | ||||
China | 57 | 56 | 51 | 48 | 53 | 58 | 58 | ||||
Indonesia | 9 | 7 | 8 | 7 | 8 | 10 | 10 | ||||
Malaysia | 7 | 6 | 5 | 7 | 6 | 6 | 6 | ||||
Equity affiliates | 15 | 15 | 16 | 13 | 15 | 14 | 14 | ||||
AP/ME | 101 | 99 | 93 | 85 | 95 | 100 | 100 | ||||
Libya | 44 | 44 | 17 | 1 | 26 | 1 | 1 | ||||
Equity affiliates | 5 | 5 | 4 | 4 | 4 | 4 | 4 | ||||
Other International | 49 | 49 | 21 | 5 | 30 | 5 | 5 | ||||
Total continuing operations | 626 | 585 | 552 | 560 | 581 | 599 | 599 | ||||
Discontinued operations (Algeria and Nigeria) | 20 | 18 | 19 | 15 | 18 | 8 | 8 | ||||
Total | 646 | 603 | 571 | 575 | 599 | 607 | 607 | ||||
NGL (MBD) | |||||||||||
Alaska | 18 | 15 | 11 | 16 | 15 | 16 | 16 | ||||
Lower 48 | 87 | 91 | 94 | 90 | 91 | 91 | 91 | ||||
Canada | 26 | 25 | 25 | 23 | 25 | 25 | 25 | ||||
Norway | 3 | 2 | 3 | 3 | 3 | 2 | 2 | ||||
United Kingdom | 3 | 3 | 2 | 3 | 3 | 5 | 5 | ||||
Europe | 6 | 5 | 5 | 6 | 6 | 7 | 7 | ||||
Australia/Timor-Leste | 10 | 10 | 9 | 7 | 9 | 8 | 8 | ||||
Indonesia | 4 | 4 | 4 | 2 | 3 | 5 | 5 | ||||
Equity affiliates | 8 | 8 | 8 | 6 | 7 | 7 | 7 | ||||
AP/ME | 22 | 22 | 21 | 15 | 19 | 20 | 20 | ||||
Total continuing operations | 159 | 158 | 156 | 150 | 156 | 159 | 159 | ||||
Discontinued operations (Nigeria) | 3 | 3 | 4 | 4 | 3 | 3 | 3 | ||||
Total | 162 | 161 | 160 | 154 | 159 | 162 | 162 | ||||
Bitumen (MBD) | |||||||||||
Consolidated operations | 13 | 12 | 13 | 13 | 13 | 13 | 13 | ||||
Equity affiliates | 96 | 88 | 94 | 106 | 96 | 111 | 111 | ||||
Total | 109 | 100 | 107 | 119 | 109 | 124 | 124 | ||||
Natural Gas (MMCFD) | |||||||||||
Alaska | 56 | 38 | 35 | 43 | 43 | 55 | 55 | ||||
Lower 48 | 1,441 | 1,516 | 1,511 | 1,493 | 1,490 | 1,468 | 1,468 | ||||
Canada | 806 | 788 | 775 | 731 | 775 | 707 | 707 | ||||
Norway | 161 | 119 | 130 | 163 | 143 | 157 | 157 | ||||
United Kingdom | 300 | 290 | 227 | 277 | 273 | 315 | 315 | ||||
Europe | 461 | 409 | 357 | 440 | 416 | 472 | 472 | ||||
Australia/Timor-Leste | 251 | 272 | 268 | 255 | 262 | 263 | 263 | ||||
China | 4 | 6 | 4 | 4 | 4 | 3 | 3 | ||||
Indonesia | 428 | 447 | 439 | 452 | 442 | 457 | 457 | ||||
Malaysia | 1 | 1 | 1 | 1 | 1 | 3 | 3 | ||||
Equity affiliates | 483 | 493 | 507 | 439 | 481 | 469 | 469 | ||||
AP/ME | 1,167 | 1,219 | 1,219 | 1,151 | 1,190 | 1,195 | 1,195 | ||||
Libya | 31 | 28 | 33 | 8 | 25 | 4 | 4 | ||||
Other International | 31 | 28 | 33 | 8 | 25 | 4 | 4 | ||||
Total continuing operations | 3,962 | 3,998 | 3,930 | 3,866 | 3,939 | 3,901 | 3,901 | ||||
Discontinued operations (Nigeria) | 110 | 128 | 125 | 155 | 129 | 149 | 149 | ||||
Total | 4,072 | 4,126 | 4,055 | 4,021 | 4,068 | 4,050 | 4,050 | ||||
Total (MBOED) | |||||||||||
Alaska | 218 | 197 | 178 | 205 | 200 | 200 | 200 | ||||
Lower 48 | 475 | 491 | 499 | 497 | 491 | 507 | 507 | ||||
Consolidated operations | 187 | 183 | 180 | 170 | 180 | 169 | 169 | ||||
Equity affiliates | 96 | 88 | 94 | 106 | 96 | 111 | 111 | ||||
Canada | 283 | 271 | 274 | 276 | 276 | 280 | 280 | ||||
Norway | 130 | 100 | 119 | 125 | 119 | 124 | 124 | ||||
United Kingdom | 77 | 73 | 57 | 72 | 70 | 96 | 96 | ||||
Europe | 207 | 173 | 176 | 197 | 189 | 220 | 220 | ||||
Australia/Timor-Leste | 65 | 70 | 67 | 60 | 65 | 64 | 64 | ||||
China | 58 | 57 | 52 | 49 | 54 | 59 | 59 | ||||
Indonesia | 84 | 86 | 85 | 84 | 85 | 91 | 91 | ||||
Malaysia | 7 | 6 | 5 | 7 | 6 | 6 | 6 | ||||
Equity affiliates | 104 | 105 | 108 | 92 | 102 | 99 | 99 | ||||
AP/ME | 318 | 324 | 317 | 292 | 312 | 319 | 319 | ||||
Libya | 49 | 49 | 22 | 2 | 30 | 2 | 2 | ||||
Equity affiliates | 5 | 5 | 4 | 4 | 4 | 4 | 4 | ||||
Other International | 54 | 54 | 26 | 6 | 34 | 6 | 6 | ||||
Total continuing operations | 1,555 | 1,510 | 1,470 | 1,473 | 1,502 | 1,532 | 1,532 | ||||
Discontinued operations (Algeria and Nigeria) | 41 | 42 | 44 | 45 | 43 | 36 | 36 | ||||
Total | 1,596 | 1,552 | 1,514 | 1,518 | 1,545 | 1,568 | 1,568 |
6 of 8
2013 | 2014 | ||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||
AVERAGE REALIZED PRICES |
| ||||||||||
Crude Oil ($/BBL) | |||||||||||
Consolidated operations | |||||||||||
Alaska | 110.79 | 106.09 | 110.95 | 104.04 | 107.83 | 106.39 | 106.39 | ||||
Lower 48 | 93.69 | 93.56 | 100.25 | 87.81 | 93.79 | 91.52 | 91.52 | ||||
Canada | 72.85 | 81.09 | 91.81 | 72.86 | 79.73 | 80.32 | 80.32 | ||||
Norway | 114.75 | 103.21 | 112.50 | 111.59 | 111.32 | 109.69 | 109.69 | ||||
United Kingdom | 111.07 | 101.67 | 110.62 | 108.94 | 107.57 | 107.37 | 107.37 | ||||
Europe | 114.11 | 102.74 | 112.28 | 110.96 | 110.56 | 109.05 | 109.05 | ||||
Australia/Timor-Leste | 107.76 | 97.11 | 103.84 | 107.26 | 104.17 | 106.36 | 106.36 | ||||
China | 110.91 | 98.58 | 106.36 | 106.17 | 105.50 | 105.62 | 105.62 | ||||
Indonesia | 93.32 | 83.15 | 93.35 | 95.66 | 91.37 | 92.82 | 92.82 | ||||
Malaysia | 119.87 | 108.67 | 114.90 | 118.29 | 115.44 | 115.35 | 115.35 | ||||
AP/ME | 109.35 | 97.77 | 105.43 | 106.43 | 104.78 | 104.92 | 104.92 | ||||
Libya | 112.18 | 102.82 | 107.49 | - | 107.21 | - | - | ||||
Other International | 112.18 | 102.82 | 107.49 | - | 107.21 | - | - | ||||
Total consolidated operations | 106.17 | 100.31 | 106.85 | 100.67 | 103.50 | 101.71 | 101.71 | ||||
Equity affiliates | 100.27 | 93.41 | 99.41 | 98.81 | 97.92 | 97.83 | 97.83 | ||||
Total continuing operations | 105.97 | 100.07 | 106.60 | 100.61 | 103.32 | 101.59 | 101.59 | ||||
Discontinued operations (Algeria and Nigeria) | 112.62 | 103.45 | 110.28 | 110.29 | 109.72 | 108.81 | 108.81 | ||||
Total | 106.20 | 100.14 | 106.74 | 100.83 | 103.51 | 101.69 | 101.69 | ||||
NGL ($/BBL) | |||||||||||
Consolidated operations | |||||||||||
Lower 48 | 29.58 | 29.30 | 32.57 | 34.33 | 31.48 | 36.06 | 36.06 | ||||
Canada | 50.15 | 44.08 | 46.90 | 47.57 | 47.19 | 56.13 | 56.13 | ||||
Norway | 59.77 | 52.15 | 56.29 | 64.13 | 59.08 | 52.95 | 52.95 | ||||
United Kingdom | 60.61 | 46.32 | 58.58 | 61.69 | 57.48 | 64.99 | 64.99 | ||||
Europe | 60.10 | 49.29 | 57.36 | 63.01 | 58.36 | 60.48 | 60.48 | ||||
Australia/Timor-Leste | 77.42 | 67.48 | 71.92 | 81.14 | 74.79 | 78.51 | 78.51 | ||||
Indonesia | 78.10 | 64.58 | 69.97 | 72.47 | 71.23 | 82.11 | 82.11 | ||||
AP/ME | 77.59 | 66.54 | 71.35 | 79.29 | 73.82 | 80.07 | 80.07 | ||||
Total consolidated operations | 40.87 | 36.21 | 39.44 | 41.89 | 39.60 | 44.86 | 44.86 | ||||
Equity affiliates | 77.32 | 64.63 | 69.90 | 83.05 | 73.31 | 79.91 | 79.91 | ||||
Total continuing operations | 42.95 | 37.80 | 41.14 | 43.82 | 41.42 | 46.52 | 46.52 | ||||
Discontinued operations (Nigeria) | 12.30 | 13.13 | 15.76 | 16.13 | 14.58 | 12.99 | 12.99 | ||||
Total | 42.41 | 37.24 | 40.47 | 43.07 | 40.79 | 45.85 | 45.85 | ||||
Bitumen ($/BBL) | |||||||||||
Consolidated operations | 36.78 | 59.67 | 76.90 | 44.73 | 55.25 | 61.69 | 61.69 | ||||
Equity affiliates | 39.52 | 55.13 | 75.93 | 43.64 | 53.00 | 55.85 | 55.85 | ||||
Total | 39.23 | 55.69 | 76.06 | 43.76 | 53.27 | 56.47 | 56.47 | ||||
Natural Gas ($/MCF) | |||||||||||
Consolidated operations | |||||||||||
Alaska | 5.20 | 4.03 | 4.09 | 3.74 | 4.35 | 5.22 | 5.22 | ||||
Lower 48 | 3.19 | 3.85 | 3.39 | 3.55 | 3.50 | 5.08 | 5.08 | ||||
Canada | 2.89 | 3.28 | 2.42 | 3.09 | 2.92 | 5.81 | 5.81 | ||||
Norway | 10.69 | 10.42 | 11.11 | 11.24 | 10.89 | 11.16 | 11.16 | ||||
United Kingdom | 10.87 | 10.19 | 10.12 | 11.04 | 10.58 | 10.83 | 10.83 | ||||
Europe | 10.81 | 10.26 | 10.48 | 11.11 | 10.68 | 10.94 | 10.94 | ||||
Australia/Timor-Leste* | 1.10 | 1.11 | 1.81 | 1.09 | 1.28 | 1.09 | 1.09 | ||||
China | 2.50 | 2.52 | 2.54 | 3.30 | 2.70 | 1.66 | 1.66 | ||||
Indonesia | 11.57 | 10.56 | 11.01 | 10.04 | 10.78 | 10.24 | 10.24 | ||||
AP/ME | 11.20 | 10.62 | 10.81 | 9.83 | 10.61 | 10.32 | 10.32 | ||||
Libya | 4.86 | 4.65 | 5.92 | 7.37 | 5.38 | 6.65 | 6.65 | ||||
Other International | 4.86 | 4.65 | 5.92 | 7.37 | 5.38 | 6.65 | 6.65 | ||||
Total consolidated operations | 5.75 | 5.88 | 5.49 | 5.73 | 5.71 | 7.15 | 7.15 | ||||
Equity affiliates | 9.36 | 8.84 | 9.35 | 8.29 | 8.98 | 10.43 | 10.43 | ||||
Total continuing operations | 6.19 | 6.25 | 5.99 | 6.02 | 6.11 | 7.55 | 7.55 | ||||
Discontinued operations (Nigeria) | 2.54 | 2.98 | 2.58 | 2.36 | 2.60 | 2.69 | 2.69 | ||||
Total | 6.09 | 6.15 | 5.88 | 5.88 | 6.00 | 7.37 | 7.37 | ||||
*Excludes transfers to Darwin LNG plant. |
7 of 8
2013 |
| 2014 | ||||||||||||||||
1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||
CORPORATE AND OTHER | ||||||||||||||||||
Corporate and Other Earnings (Loss) ($ Millions) | (162 | ) | (173 | ) | (234 | ) | (251 | ) | (820 | ) | (235 | ) | (235 | ) | ||||
Detail of Earnings (Loss) ($ Millions) | ||||||||||||||||||
Net interest expense | (108 | ) | (127 | ) | (124 | ) | (171 | ) | (530 | ) | (163 | ) | (163 | ) | ||||
Corporate G&A expenses | (27 | ) | (43 | ) | (77 | ) | (66 | ) | (213 | ) | (31 | ) | (31 | ) | ||||
Technology* | (8 | ) | 41 | (26 | ) | (13 | ) | (6 | ) | (28 | ) | (28 | ) | |||||
Other | (19 | ) | (44 | ) | (7 | ) | (1 | ) | (71 | ) | (13 | ) | (13 | ) | ||||
Total | (162 | ) | (173 | ) | (234 | ) | (251 | ) | (820 | ) | (235 | ) | (235 | ) | ||||
*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 | (287 | ) | (303 | ) | (303 | ) | (306 | ) | (1,199 | ) | (291 | ) | (291 | ) | ||||
Capitalized interest | 179 | 186 | 172 | 130 | 667 | 120 | 120 | |||||||||||
Interest revenue | 10 | 28 | 10 | 12 | 60 | 9 | 9 | |||||||||||
Total | (98 | ) | (89 | ) | (121 | ) | (164 | ) | (472 | ) | (162 | ) | (162 | ) | ||||
Debt | ||||||||||||||||||
Total debt ($ Millions) | 21,670 | 21,721 | 21,668 | 21,662 | 21,662 | 21,206 | 21,206 | |||||||||||
Debt-to-capital ratio (%) | 31 | % | 31 | % | 30 | % | 29 | % | 29 | % | 28 | % | 28 | % | ||||
Equity ($ Millions) | 49,240 | 48,932 | 51,537 | 52,492 | 52,492 | 53,621 | 53,621 |
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 |
8 of 8