ConocoPhillips (COP) 8-K Results of Operations and Financial Condition

Exhibit 99.2

	Fourth-Quarter 2020 Detailed Supplemental Information
								2019															2020
		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			9,150			7,953			7,756			7,708			32,567			6,158			2,749			4,386			5,491			18,784
Equity in earnings of affiliates			188			173			290			128			779			234			77			35			86			432
Gain (loss) on dispositions			17			82			1,785			82			1,966			(42	)		596			(3	)		(2	)		549
Other income (loss)			702			172			262			222			1,358			(1,539	)		594			(38	)		474			(509	)
Total Revenues and Other Income			10,057			8,380			10,093			8,140			36,670			4,811			4,016			4,380			6,049			19,256
Costs and Expenses
Purchased commodities			3,675			2,674			2,710			2,783			11,842			2,661			1,130			1,839			2,448			8,078
Production and operating expenses			1,271			1,418			1,331			1,302			5,322			1,173			1,047			963			1,161			4,344
Selling, general and administrative expenses			153			129			87			187			556			(3	)		156			96			181			430
Exploration expenses			110			122			360			151			743			188			97			125			1,047			1,457
Depreciation, depletion and amortization			1,546			1,490			1,566			1,488			6,090			1,411			1,158			1,411			1,541			5,521
Impairments			1			1			24			379			405			521			(2	)		2			292			813
Taxes other than income taxes			275			194			237			247			953			250			141			179			184			754
Accretion on discounted liabilities			86			87			86			67			326			67			66			62			57			252
Interest and debt expense			233			165			184			196			778			202			202			200			202			806
Foreign currency transactions (gain) loss			12			28			(21	)		47			66			(90	)		7			(5	)		16			(72	)
Other expenses			8			14			36			7			65			(6	)		(7	)		20			6			13
Total Costs and Expenses			7,370			6,322			6,600			6,854			27,146			6,374			3,995			4,892			7,135			22,396
Income (loss) before income taxes			2,687			2,058			3,493			1,286			9,524			(1,563	)		21			(512	)		(1,086	)		(3,140	)
Income tax provision (benefit)			841			461			422			543			2,267			148			(257	)		(62	)		(314	)		(485	)
Net Income (Loss)			1,846			1,597			3,071			743			7,257			(1,711	)		278			(450	)		(772	)		(2,655	)
Less: net income attributable to noncontrolling interests			(13	)		(17	)		(15	)		(23	)		(68	)		(28	)		(18	)		-			-			(46	)
Net Income (Loss) Attributable to ConocoPhillips			1,833			1,580			3,056			720			7,189			(1,739	)		260			(450	)		(772	)		(2,701	)
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock (dollars)
Basic			1.61			1.40			2.76			0.66			6.43			(1.60	)		0.24			(0.42	)		(0.72	)		(2.51	)
Diluted			1.60			1.40			2.74			0.65			6.40			(1.60	)		0.24			(0.42	)		(0.72	)		(2.51	)
Average Common Shares Outstanding (in thousands)*
Basic			1,139,463			1,125,995			1,108,555			1,095,606			1,117,260			1,084,561			1,076,659			1,077,377			1,073,580			1,078,030
Diluted			1,146,515			1,131,242			1,113,250			1,099,786			1,123,536			1,084,561			1,077,606			1,077,377			1,073,580			1,078,030
*Ending Common Shares Outstanding is 1,068,035 as of Dec. 31, 2020, compared with 1,072,742 as of Sep. 30, 2020.
INCOME (LOSS) BEFORE INCOME TAXES
Alaska			505			580			417			491			1,993			107			(195	)		(30	)		(857	)		(975	)
Lower 48			261			269			35			9			574			(562	)		(471	)		(105	)		(362	)		(1,500	)
Canada			73			100			69			(6	)		236			(150	)		(177	)		(100	)		(84	)		(511	)
Europe, Middle East and North Africa			811			761			2,512			511			4,595			311			(60	)		113			221			585
Asia Pacific			628			483			439			500			2,050			445			702			84			70			1,301
Other International			130			87			75			(21	)		271			27			(5	)		(11	)		(96	)		(85	)
Corporate and Other			279			(222	)		(54	)		(198	)		(195	)		(1,741	)		227			(463	)		22			(1,955	)
Consolidated			2,687			2,058			3,493			1,286			9,524			(1,563	)		21			(512	)		(1,086	)		(3,140	)
EFFECTIVE INCOME TAX RATES
Alaska*			23.9	%		20.5	%		26.6	%		24.7	%		23.7	%		24.3	%		27.6	%		47.6	%		25.0	%		26.2	%
Lower 48			26.2	%		23.1	%		27.7	%		-32.5	%		24.0	%		22.3	%		22.5	%		25.0	%		33.2	%		25.2	%
Canada			-66.4	%		-1.0	%		26.1	%		196.6	%		-18.3	%		26.8	%		51.8	%		24.9	%		33.4	%		36.2	%
Europe, Middle East and North Africa			61.8	%		25.3	%		13.5	%		76.6	%		31.0	%		35.3	%		142.3	%		19.0	%		40.9	%		23.3	%
Asia Pacific			30.7	%		23.3	%		-4.5	%		42.9	%		24.4	%		32.7	%		5.2	%		70.0	%		75.9	%		22.6	%
Other International			-1.3	%		6.6	%		4.4	%		-0.8	%		2.8	%		-2.0	%		-2.6	%		28.7	%		17.9	%		24.3	%
Corporate and Other			3.0	%		13.3	%		74.3	%		86.6	%		119.4	%		-1.9	%		18.7	%		15.9	%		-361.1	%		3.9	%
Consolidated			31.3	%		22.4	%		12.1	%		42.2	%		23.8	%		-9.5	%		-1330.4	%		12.0	%		28.9	%		15.4	%
*Alaska including taxes other than income taxes.			38.1	%		25.8	%		40.6	%		38.2	%		35.4	%		61.2	%		-18.9	%		126.4	%		16.9	%		-15.1	%

							2019															2020
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
$ Millions
EARNINGS BY SEGMENT
Alaska		384			462			306			368			1,520			81			(141	)		(16	)		(643	)		(719	)
Lower 48		193			206			26			11			436			(437	)		(365	)		(78	)		(242	)		(1,122	)
Canada		122			100			51			6			279			(109	)		(86	)		(75	)		(56	)		(326	)
Europe, Middle East and North Africa		310			569			2,171			120			3,170			201			25			92			130			448
Asia Pacific		422			355			443			263			1,483			272			648			25			17			962
Other International		131			81			73			(22	)		263			28			(6	)		(8	)		(78	)		(64	)
Corporate and Other		271			(193	)		(14	)		(26	)		38			(1,775	)		185			(390	)		100			(1,880	)
Consolidated		1,833			1,580			3,056			720			7,189			(1,739	)		260			(450	)		(772	)		(2,701	)
SPECIAL ITEMS
Alaska		-			81			(6	)		4			79			(120	)		81			-			(648	)		(687	)
Lower 48		(47	)		(125	)		(110	)		(230	)		(512	)		(467	)		40			70			(221	)		(578	)
Canada		68			66			-			-			134			(29	)		77			-			-			48
Europe, Middle East and North Africa		-			234			1,845			(125	)		1,954			(2	)		2			-			-			-
Asia Pacific		-			52			164			(33	)		183			(4	)		601			-			-			597
Other International		147			84			86			-			317			29			-			-			(67	)		(38	)
Corporate and Other		517			45			163			273			998			(1,632	)		453			(189	)		365			(1,003	)
Consolidated		685			437			2,142			(111	)		3,153			(2,225	)		1,254			(119	)		(571	)		(1,661	)
Detailed reconciliation of these items is provided on page 3.
ADJUSTED EARNINGS
Alaska		384			381			312			364			1,441			201			(222	)		(16	)		5			(32	)
Lower 48		240			331			136			241			948			30			(405	)		(148	)		(21	)		(544	)
Canada		54			34			51			6			145			(80	)		(163	)		(75	)		(56	)		(374	)
Europe, Middle East and North Africa		310			335			326			245			1,216			203			23			92			130			448
Asia Pacific		422			303			279			296			1,300			276			47			25			17			365
Other International		(16	)		(3	)		(13	)		(22	)		(54	)		(1	)		(6	)		(8	)		(11	)		(26	)
Corporate and Other		(246	)		(238	)		(177	)		(299	)		(960	)		(143	)		(268	)		(201	)		(265	)		(877	)
Consolidated		1,148			1,143			914			831			4,036			486			(994	)		(331	)		(201	)		(1,040	)
ADJUSTED EFFECTIVE INCOME TAX RATES
Alaska		23.9	%		25.6	%		25.2	%		25.4	%		25.0	%		23.0	%		26.6	%		47.6	%		128.6	%		62.9	%
Lower 48		25.3	%		23.0	%		23.1	%		20.5	%		23.0	%		18.0	%		22.5	%		23.3	%		73.7	%		28.3	%
Canada		26.7	%		20.8	%		26.1	%		196.6	%		19.5	%		27.2	%		25.0	%		24.9	%		33.4	%		26.8	%
Europe, Middle East and North Africa		61.8	%		56.0	%		56.9	%		62.1	%		59.1	%		36.9	%		132.9	%		19.0	%		40.9	%		23.3	%
Asia Pacific		30.7	%		33.3	%		32.9	%		36.6	%		33.2	%		32.5	%		41.3	%		70.0	%		75.9	%		42.6	%
Other International		9.6	%		-32.9	%		-2.7	%		-0.8	%		0.7	%		28.6	%		-2.6	%		28.7	%		1.5	%		12.1	%
Corporate and Other		14.8	%		12.7	%		23.3	%		4.8	%		13.2	%		-13.9	%		15.0	%		25.0	%		17.6	%		14.9	%
Consolidated		42.9	%		40.5	%		42.5	%		46.6	%		43.0	%		38.2	%		26.3	%		18.2	%		9.2	%		11.1	%

							2019															2020
$ Millions	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
DETAILED SPECIAL ITEMS
Alaska
Impairments		-			-			-			-			-			(154	)		109			-			(841	)		(886	)
Pending claims and settlements		-			69			-			-			69			-			-			-			-			-
Subtotal before income taxes		-			69			-			-			69			(154	)		109			-			(841	)		(886	)
Income tax provision (benefit)1		-			(12	)		6			(4	)		(10	)		(34	)		28			-			(193	)		(199	)
Total		-			81			(6	)		4			79			(120	)		81			-			(648	)		(687	)
Lower 48
Impairments		(60	)		(95	)		(141	)		(386	)		(682	)		(561	)		50			-			(283	)		(794	)
Gain (loss) on asset sales		-			-			-			82			82			(38	)		2			-			-			(36	)
Pending claims and settlements		-			(67	)		-			9			(58	)		-			-			89			-			89
Subtotal before income taxes		(60	)		(162	)		(141	)		(295	)		(658	)		(599	)		52			89			(283	)		(741	)
Income tax provision (benefit)		(13	)		(37	)		(31	)		(65	)		(146	)		(132	)		12			19			(62	)		(163	)
Total		(47	)		(125	)		(110	)		(230	)		(512	)		(467	)		40			70			(221	)		(578	)
Canada
Impairments		-			-			-			-			-			(39	)		39			-			-			-
Gain (loss) on asset sales		-			56			-			-			56			-			-			-			-			-
Subtotal before income taxes		-			56			-			-			56			(39	)		39			-			-			-
Income tax provision (benefit)2		(68	)		(10	)		-			-			(78	)		(10	)		(38	)		-			-			(48	)
Total		68			66			-			-			134			(29	)		77			-			-			48
Europe, Middle East and North Africa
Impairments		-			-			-			-			-			(11	)		11			-			-			-
Gain (loss) on asset sales		-			-			1,752			(15	)		1,737			-			-			-			-			-
Qatar deferred tax adjustment		-			-			-			(118	)		(118	)		-			-			-			-			-
Subtotal before income taxes		-			-			1,752			(133	)		1,619			(11	)		11			-			-			-
Income tax provision (benefit)3		-			(234	)		(93	)		(8	)		(335	)		(9	)		9			-			-			-
Total		-			234			1,845			(125	)		1,954			(2	)		2			-			-			-
Asia Pacific
Gain (loss) on asset sales		-			5			-			-			5			-			587			-			-			587
Impairments		-			-			-			-			-			(5	)		5			-			-			-
Pending claims and settlements		-			-			-			(2	)		(2	)		-			-			-			-			-
Subtotal before income taxes		-			5			-			(2	)		3			(5	)		592			-			-			587
Income tax provision (benefit)4		-			(47	)		(164	)		31			(180	)		(1	)		(9	)		-			-			(10	)
Total		-			52			164			(33	)		183			(4	)		601			-			-			597
Other International
Pending claims and settlements		147			89			89			-			325			29			-			-			-			29
Exploration expense		-			-			-			-			-			-			-			-			(84	)		(84	)
Subtotal before income taxes		147			89			89			-			325			29			-			-			(84	)		(55	)
Income tax provision (benefit)		-			5			3			-			8			-			-			-			(17	)		(17	)
Total		147			84			86			-			317			29			-			-			(67	)		(38	)
Corporate and Other
Pension settlement expense		-			-			(37	)		(8	)		(45	)		-			-			(27	)		(17	)		(44	)
Pending claims and settlements		(17	)		44			34			(17	)		44			-			3			-			(46	)		(43	)
Transaction and restructuring expense		-			-			-			-			-			-			-			-			(24	)		(24	)
Unrealized gain (loss) on CVE common shares		343			30			116			160			649			(1,691	)		551			(162	)		447			(855	)
Unrealized gain (loss) on CAD FX derivative		(6	)		(24	)		15			(18	)		(33	)		75			(12	)		(8	)		(17	)		38
Recognition of deferred revenue		248			-			49			-			297			-			-			-			-			-
Subtotal before income taxes		568			50			177			117			912			(1,616	)		542			(197	)		343			(928	)
Income tax provision (benefit)5		51			5			14			(156	)		(86	)		16			89			(8	)		(22	)		75
Total		517			45			163			273			998			(1,632	)		453			(189	)		365			(1,003	)
Total Company		685			437			2,142			(111	)		3,153			(2,225	)		1,254			(119	)		(571	)		(1,661	)
1Includes deferred tax adjustment in 2Q 2019 and 2Q 2020 in Alaska.
2Includes deferred tax adjustment in 1Q 2019, tax rate change in 2Q 2019, and recognition of a tax refund in 2Q 2020 in Canada.
3Includes tax adjustment in 2Q 2019 and 3Q 2019 related to the U.K. disposition.
4Includes tax adjustment in 2Q 2019 related to the Greater Sunrise Fields disposition, 3Q 2019 for Malaysia Deepwater tax incentives, and 2Q 2020 for the Australia-West disposition.
5Includes deferred tax adjustment related to foreign tax credits in 4Q 2019 and 2Q 2020.

							2019															2020
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
$ Millions
CONSOLIDATED BALANCE SHEET
Assets
Cash and cash equivalents		6,218			5,941			7,193			5,088			5,088			3,908			2,907			2,490			2,991			2,991
Short-term investments		249			732			908			3,028			3,028			3,866			3,985			4,032			3,609			3,609
Accounts and notes receivable		3,701			3,490			3,478			3,267			3,267			2,116			1,399			1,984			2,634			2,634
Accounts and notes receivable—related parties		168			161			138			134			134			148			133			135			120			120
Investment in Cenovus Energy		1,805			1,835			1,951			2,111			2,111			420			971			809			1,256			1,256
Inventories		1,014			1,089			955			1,026			1,026			726			982			1,034			1,002			1,002
Prepaid expenses and other current assets		528			2,552			594			2,259			2,259			1,960			676			575			454			454
Total Current Assets		13,683			15,800			15,217			16,913			16,913			13,144			11,053			11,059			12,066			12,066
Investments and long-term receivables		9,302			8,748			8,916			8,687			8,687			8,707			8,334			8,295			8,017			8,017
Loans and advances—related parties		268			268			219			219			219			167			167			114			114			114
Net properties, plants and equipment		45,942			44,334			43,814			42,269			42,269			40,645			41,120			41,269			39,893			39,893
Other assets		2,303			2,111			2,174			2,426			2,426			2,370			2,372			2,420			2,528			2,528
Total Assets		71,498			71,261			70,340			70,514			70,514			65,033			63,046			63,157			62,618			62,618
Liabilities
Accounts payable		3,815			3,618			3,148			3,176			3,176			2,900			2,060			2,217			2,669			2,669
Accounts payable—related parties		31			17			23			24			24			21			20			22			29			29
Short-term debt		113			114			121			105			105			126			146			482			619			619
Accrued income and other taxes		1,539			1,213			1,077			1,030			1,030			853			312			339			320			320
Employee benefit obligations		470			529			543			663			663			323			422			469			608			608
Other accruals		1,402			3,505			1,030			2,045			2,045			1,852			1,145			1,111			1,121			1,121
Total Current Liabilities		7,370			8,996			5,942			7,043			7,043			6,075			4,105			4,640			5,366			5,366
Long-term debt		14,832			14,809			14,799			14,790			14,790			14,847			14,852			14,905			14,750			14,750
Asset retirement obligations and accrued environmental costs		7,730			5,996			6,087			5,352			5,352			5,316			5,465			5,651			5,430			5,430
Deferred income taxes		5,043			4,825			4,693			4,634			4,634			4,141			3,901			3,854			3,747			3,747
Employee benefit obligations		1,704			1,689			1,786			1,781			1,781			1,563			1,586			1,661			1,697			1,697
Other liabilities and deferred credits		1,838			1,872			1,794			1,864			1,864			1,704			1,644			1,663			1,779			1,779
Total Liabilities		38,517			38,187			35,101			35,464			35,464			33,646			31,553			32,374			32,769			32,769
Equity
Common stock issued
Par value		18			18			18			18			18			18			18			18			18			18
Capital in excess of par		46,877			46,922			46,954			46,983			46,983			47,027			47,079			47,113			47,133			47,133
Treasury stock		(43,656	)		(44,906	)		(45,656	)		(46,405	)		(46,405	)		(47,130	)		(47,130	)		(47,130	)		(47,297	)		(47,297	)
Accumulated other comprehensive income (loss)		(5,914	)		(5,827	)		(5,654	)		(5,357	)		(5,357	)		(6,145	)		(5,825	)		(5,666	)		(5,218	)		(5,218	)
Retained earnings		35,534			36,769			39,484			39,742			39,742			37,545			37,351			36,448			35,213			35,213
Total Common Stockholders' Equity		32,859			32,976			35,146			34,981			34,981			31,315			31,493			30,783			29,849			29,849
Noncontrolling Interests		122			98			93			69			69			72			-			-			-			-
Total Equity		32,981			33,074			35,239			35,050			35,050			31,387			31,493			30,783			29,849			29,849
Total Liabilities and Equity		71,498			71,261			70,340			70,514			70,514			65,033			63,046			63,157			62,618			62,618

							2019															2020
	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 (loss)		1,846			1,597			3,071			743			7,257			(1,711	)		278			(450	)		(772	)		(2,655	)
Depreciation, depletion and amortization		1,546			1,490			1,566			1,488			6,090			1,411			1,158			1,411			1,541			5,521
Impairments		1			1			24			379			405			521			(2	)		2			292			813
Dry hole costs and leasehold impairments		27			41			293			60			421			67			3			44			969			1,083
Accretion on discounted liabilities		86			87			86			67			326			67			66			62			57			252
Deferred taxes		(1	)		(220	)		(83	)		(140	)		(444	)		(227	)		(93	)		(108	)		(406	)		(834	)
Undistributed equity earnings		24			338			(102	)		334			594			31			373			46			195			645
Gain on dispositions		(17	)		(82	)		(1,785	)		(82	)		(1,966	)		42			(596	)		3			2			(549	)
Unrealized (gain) loss on investment in Cenovus Energy		(343	)		(30	)		(116	)		(160	)		(649	)		1,691			(551	)		162			(447	)		855
Other		(221	)		200			(310	)		(20	)		(351	)		(284	)		40			56			231			43
Net working capital changes		(54	)		(531	)		(307	)		313			(579	)		497			(519	)		(360	)		10			(372	)
Net Cash Provided by Operating Activities		2,894			2,891			2,337			2,982			11,104			2,105			157			868			1,672			4,802
Cash Flows from Investing Activities
Capital expenditures and investments		(1,637	)		(1,729	)		(1,675	)		(1,595	)		(6,636	)		(1,649	)		(876	)		(1,132	)		(1,058	)		(4,715	)
Working capital changes associated with investing activities		107			(83	)		(7	)		(120	)		(103	)		81			(332	)		22			74			(155	)
Proceeds from asset dispositions		142			559			2,219			92			3,012			549			764			(1	)		5			1,317
Net sales (purchases) of investments		(1	)		(484	)		(180	)		(2,245	)		(2,910	)		(935	)		(95	)		(59	)		431			(658	)
Long-term collections from (advances to)
related parties and other investments		(88	)		276			(207	)		38			19			22			9			54			5			90
Net Cash Provided by (Used in) Investing Activities		(1,477	)		(1,461	)		150			(3,830	)		(6,618	)		(1,932	)		(530	)		(1,116	)		(543	)		(4,121	)
Cash Flows from Financing Activities
Net issuance (repayment) of debt		(19	)		(19	)		(21	)		(21	)		(80	)		(24	)		(190	)		280			(20	)		46
Issuance of company common stock		(38	)		2			(3	)		9			(30	)		2			-			(4	)		(3	)		(5	)
Repurchase of company common stock		(752	)		(1,250	)		(749	)		(749	)		(3,500	)		(726	)		-			-			(166	)		(892	)
Dividends paid		(350	)		(346	)		(341	)		(463	)		(1,500	)		(458	)		(455	)		(454	)		(464	)		(1,831	)
Other		(14	)		(41	)		(18	)		(46	)		(119	)		(24	)		(4	)		1			1			(26	)
Net Cash Provided by (Used in) Financing Activities		(1,173	)		(1,654	)		(1,132	)		(1,270	)		(5,229	)		(1,230	)		(649	)		(177	)		(652	)		(2,708	)
Effect of Exchange Rate Changes		75			(49	)		(94	)		22			(46	)		(122	)		29			31			42			(20	)
Net Change in Cash, Cash Equivalents and Restricted Cash		319			(273	)		1,261			(2,096	)		(789	)		(1,179	)		(993	)		(394	)		519			(2,047	)
Cash, cash equivalents and restricted cash at beginning of period		6,151			6,470			6,197			7,458			6,151			5,362			4,183			3,190			2,796			5,362
Cash, Cash Equivalents and Restricted Cash at End of Period		6,470			6,197			7,458			5,362			5,362			4,183			3,190			2,796			3,315			3,315
CAPITAL EXPENDITURES AND INVESTMENTS
Alaska		410			370			427			306			1,513			509			223			150			156			1,038
Lower 48		834			936			843			781			3,394			776			354			268			483			1,881
Canada		123			109			83			53			368			74			68			451			58			651
Europe, Middle East and North Africa		157			182			198			171			708			121			130			159			190			600
Asia Pacific		96			123			103			262			584			103			85			92			104			384
Other International		1			-			-			7			8			53			10			3			55			121
Corporate and Other		16			9			21			15			61			13			6			9			12			40
Total Capital Expenditures and Investments		1,637			1,729			1,675			1,595			6,636			1,649			876			1,132			1,058			4,715

							2019													2020
	1st Qtr		2nd Qtr				3rd Qtr		4th Qtr			YTD		1st Qtr			2nd Qtr			3rd Qtr		4th Qtr		YTD
TOTAL SEGMENTS
Production
Total (MBOED)		1,361		1,332				1,366		1,334			1,348		1,289			981			1,067		1,169		1,127
Crude Oil (MBD)
Consolidated operations		703		688				696		681			692		642			460			535		581		555
Equity affiliates		12		14				14		14			13		12			14			13		14		13
Total		715		702				710		695			705		654			474			548		595		568
Over (under) lifting of crude oil (MBD)		8		(3	)			19		(2	)		6		(20	)		(9	)		12		40		6
NGL (MBD)
Consolidated operations		103		110				106		110			107		116			85			89		98		97
Equity affiliates		7		8				8		8			8		7			8			8		8		8
Total		110		118				114		118			115		123			93			97		106		105
Bitumen (MBD)
Consolidated operations		63		51				63		64			60		66			34			49		69		55
Equity affiliates		-		-				-		-			-		-			-			-		-		-
Total		63		51				63		64			60		66			34			49		69		55
Natural Gas (MMCFD)
Consolidated operations		1,852		1,704				1,795		1,661			1,753		1,638			1,221			1,201		1,302		1,339
Equity affiliates		988		1,064				1,076		1,080			1,052		1,036			1,056			1,034		1,092		1,055
Total		2,840		2,768				2,871		2,741			2,805		2,674			2,277			2,235		2,394		2,394
Industry Prices
Crude Oil ($/BBL)
WTI		54.87		59.80				56.44		56.98			57.02		46.06			27.85			40.93		42.66		39.37
WCS		42.58		49.13		��		44.18		41.15			44.26		25.54			16.58			31.83		33.46		26.85
Brent dated		63.20		68.82				61.94		63.22			64.30		50.31			29.20			43.00		44.23		41.68
JCC ($/BBL)		76.98		63.72				71.59		66.34			69.66		65.89			67.71			30.58		40.83		51.25
Natural Gas ($/MMBTU)
Henry Hub first of month		3.15		2.64				2.23		2.50			2.63		1.95			1.71			1.98		2.67		2.08
Average Realized Prices
Total ($/BBL)		50.59		50.50				47.07		47.01			48.78		38.81			23.09			30.94		33.21		32.15
Crude Oil ($/BBL)
Consolidated operations		59.45		64.90				59.56		60.14			60.98		48.77			25.10			39.49		40.89		39.56
Equity affiliates		59.53		63.98				59.91		61.58			61.32		53.14			25.32			37.56		41.16		39.02
Total		59.45		64.88				59.57		60.17			60.99		48.86			25.10			39.45		40.89		39.54
NGL ($/BBL)
Consolidated operations		22.74		19.97				14.33		18.26			18.73		12.81			8.29			13.73		16.30		12.90
Equity affiliates		38.19		41.72				30.18		37.28			36.70		42.41			23.93			30.21		35.70		32.69
Total		23.85		21.65				15.59		19.67			20.09		14.82			9.88			15.29		17.98		14.61
Bitumen ($/BBL)
Consolidated operations		33.15		37.20				32.54		24.58			31.72		5.90			(23.11	)		15.87		19.41		8.02
Equity affiliates		-		-				-		-			-		-			-			-		-		-
Total		33.15		37.20				32.54		24.58			31.72		5.90			(23.11	)		15.87		19.41		8.02
Natural Gas ($/MCF)
Consolidated operations		5.27		4.08				3.73		3.88			4.25		3.60			2.64			2.77		3.47		3.17
Equity affiliates		7.31		5.81				6.40		5.75			6.29		5.41			3.90			2.61		2.93		3.71
Total		6.00		4.76				4.74		4.62			5.03		4.30			3.22			2.70		3.23		3.41
Exploration Expenses ($ Millions)
Dry holes		10		16				139		35			200		36			3			44		132		215
Leasehold impairment		17		25				154		25			221		31			-			-		837		868
Total noncash expenses		27		41				293		60			421		67			3			44		969		1,083
Other (G&A, G&G and lease rentals)		83		81				67		91			322		121			94			81		78		374
Total exploration expenses		110		122				360		151			743		188			97			125		1,047		1,457
U.S. exploration expenses		75		70				319		60			524		99			72			86		914		1,171
International exploration expenses		35		52				41		91			219		89			25			39		133		286
DD&A ($ Millions)
Alaska		205		208				200		192			805		209			191			274		322		996
Lower 48		621		709				731		761			2,822		707			548			619		680		2,554
Canada		56		48				63		63			230		69			66			95		109		339
Europe, Middle East and North Africa		273		173				222		218			886		196			167			194		212		769
Asia Pacific		375		338				332		240			1,285		217			170			217		205		809
Other International		-		-				-		-			-		-			-			-		-		-
Corporate and Other		16		14				18		14			62		13			16			12		13		54
Total DD&A		1,546		1,490				1,566		1,488			6,090		1,411			1,158			1,411		1,541		5,521

					2019										2020
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
PRODUCTION
Crude Oil (MBD)
Consolidated operations
Alaska		210		199		190		205		202		198		153		184		190		181
Lower 48		245		269		277		274		266		270		166		197		218		213
Canada		1		1		1		1		1		2		5		6		10		6
Norway		89		73		91		85		84		84		75		76		75		78
United Kingdom		25		20		19		-		16		-		-		-		-		-
Libya		38		37		39		39		38		9		-		1		24		8
Europe, Middle East and North Africa		152		130		149		124		138		93		75		77		99		86
Australia/Timor-Leste		6		7		6		5		6		4		3		-		-		2
China		41		37		35		29		35		31		30		29		28		30
Indonesia		2		2		2		2		2		2		2		2		3		2
Malaysia		46		43		36		41		42		42		26		40		33		35
Asia Pacific		95		89		79		77		85		79		61		71		64		69
Total consolidated operations		703		688		696		681		692		642		460		535		581		555
Equity affiliates		12		14		14		14		13		12		14		13		14		13
Total		715		702		710		695		705		654		474		548		595		568
NGL (MBD)
Consolidated operations
Alaska		17		17		11		16		15		19		13		14		16		16
Lower 48		74		82		84		85		81		89		64		68		75		74
Canada		-		1		-		-		-		1		2		2		3		2
Norway		4		3		4		5		4		5		5		5		4		4
United Kingdom		4		3		3		-		3		-		-		-		-		-
Europe, Middle East and North Africa		8		6		7		5		7		5		5		5		4		4
Australia/Timor-Leste		4		4		4		4		4		2		1		-		-		1
Asia Pacific		4		4		4		4		4		2		1		-		-		1
Total consolidated operations		103		110		106		110		107		116		85		89		98		97
Equity affiliates		7		8		8		8		8		7		8		8		8		8
Total		110		118		114		118		115		123		93		97		106		105
Bitumen (MBD)
Canada		63		51		63		64		60		66		34		49		69		55
Total		63		51		63		64		60		66		34		49		69		55
Natural Gas (MMCFD)
Consolidated operations
Alaska		8		7		6		8		7		8		8		14		9		10
Lower 48		568		593		649		677		622		679		486		566		611		585
Canada		7		8		9		11		9		20		40		43		57		40
Norway		263		244		226		284		254		297		263		256		267		270
United Kingdom		310		247		218		-		193		-		-		-		-		-
Libya		31		27		29		36		31		13		1		-		6		5
Europe, Middle East and North Africa		604		518		473		320		478		310		264		256		273		275
Australia/Timor-Leste		273		202		222		203		225		237		114		-		-		87
Indonesia		311		314		324		333		321		309		266		283		300		290
Malaysia		81		62		112		109		91		75		43		39		52		52
Asia Pacific		665		578		658		645		637		621		423		322		352		429
Total consolidated operations		1,852		1,704		1,795		1,661		1,753		1,638		1,221		1,201		1,302		1,339
Equity affiliates		988		1,064		1,076		1,080		1,052		1,036		1,056		1,034		1,092		1,055
Total		2,840		2,768		2,871		2,741		2,805		2,674		2,277		2,235		2,394		2,394
Total (MBOED)
Consolidated operations
Alaska		228		217		202		222		218		218		167		201		208		198
Lower 48		414		450		469		472		451		472		311		359		395		385
Canada		65		54		66		67		63		72		48		64		91		70
Norway		137		117		133		137		131		139		124		124		123		127
United Kingdom		80		64		58		-		50		-		-		-		-		-
Libya		43		42		44		45		43		11		-		1		25		9
Europe, Middle East and North Africa		260		223		235		182		224		150		124		125		148		136
Australia/Timor-Leste		56		45		47		43		48		46		24		-		-		17
China		41		37		35		29		35		31		30		29		28		30
Indonesia		54		54		56		58		56		54		46		49		53		50
Malaysia		60		53		55		59		57		54		33		47		42		44
Asia Pacific		211		189		193		189		196		185		133		125		123		141
Total consolidated operations		1,178		1,133		1,165		1,132		1,152		1,097		783		874		965		930
Equity affiliates		183		199		201		202		196		192		198		193		204		197
Total		1,361		1,332		1,366		1,334		1,348		1,289		981		1,067		1,169		1,127

					2019											2020
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr			3rd Qtr		4th Qtr		YTD
AVERAGE REALIZED PRICES
Crude Oil ($/BBL)
Consolidated operations
Alaska		62.81		67.57		62.78		63.43		64.12		54.78		26.81			40.88		42.61		42.12
Lower 48		53.15		59.17		54.38		54.34		55.30		40.97		19.87			36.43		38.50		35.17
Canada		-		-		-		-		40.87		-		8.69			25.16		28.57		23.57
Norway		63.16		70.09		64.00		64.25		65.19		54.92		32.32			41.79		41.62		42.80
United Kingdom		59.74		69.22		63.32		-		64.68		-		-			-		-		-
Libya		63.22		68.95		62.30		63.95		64.47		64.21		-			-		44.93		48.64
Europe, Middle East and North Africa		62.83		69.65		63.47		64.15		64.94		55.53		32.32			41.79		42.35		43.30
Australia/Timor-Leste		59.39		62.22		57.02		58.32		59.29		47.35		47.21			-		-		47.34
China		59.23		65.40		59.07		63.17		61.26		54.10		25.09			39.75		42.80		40.29
Indonesia		47.07		51.62		48.79		50.35		49.55		29.33		30.64			36.41		41.21		34.97
Malaysia		67.33		73.99		66.26		69.74		69.45		57.67		30.59			46.43		42.42		45.26
Asia Pacific		62.94		69.78		62.01		65.90		65.02		54.71		27.98			42.79		42.50		42.84
Total consolidated operations		59.45		64.90		59.56		60.14		60.98		48.77		25.10			39.49		40.89		39.56
Equity affiliates		59.53		63.98		59.91		61.58		61.32		53.14		25.32			37.56		41.16		39.02
Total		59.45		64.88		59.57		60.17		60.99		48.86		25.10			39.45		40.89		39.54
NGL ($/BBL)
Consolidated operations
Lower 48		20.66		17.91		13.04		16.27		16.83		11.85		6.95			13.51		15.58		12.13
Canada		-		-		-		-		19.87		-		1.64			5.99		8.52		5.41
Norway		33.37		29.42		24.38		32.42		30.67		21.54		16.76			23.50		30.80		23.27
United Kingdom		27.65		32.75		22.20		-		27.71		-		-			-		-		-
Europe, Middle East and North Africa		31.15		32.00		23.20		32.42		29.37		21.54		16.76			23.50		30.80		23.27
Australia/Timor-Leste		40.13		39.97		30.13		37.20		37.85		39.34		27.90			-		-		33.21
Asia Pacific		40.13		39.97		30.13		37.20		37.85		39.34		27.90			-		-		33.21
Total consolidated operations		22.74		19.97		14.33		18.26		18.73		12.81		8.29			13.73		16.30		12.90
Equity affiliates		38.19		41.72		30.18		37.28		36.70		42.41		23.93			30.21		35.70		32.69
Total		23.85		21.65		15.59		19.67		20.09		14.82		9.88			15.29		17.98		14.61
Bitumen ($/BBL)
Canada*		33.15		37.20		32.54		24.58		31.72		5.90		(23.11	)		15.87		19.41		8.02
Total		33.15		37.20		32.54		24.58		31.72		5.90		(23.11	)		15.87		19.41		8.02
Natural Gas ($/MCF)
Consolidated operations
Alaska		3.42		3.19		3.01		3.09		3.19		3.07		2.56			2.48		3.88		2.91
Lower 48		2.74		2.10		1.80		1.92		2.12		1.48		1.18			1.63		2.21		1.65
Canada		-		-		-		-		0.49		-		0.79			0.71		1.77		1.21
Norway		6.39		4.31		3.37		4.61		4.72		3.65		2.21			2.40		4.39		3.23
United Kingdom		6.83		4.49		3.69		-		5.19		-		-			-		-		-
Libya		4.92		4.79		4.83		4.91		4.87		4.53		-			-		2.26		3.71
Europe, Middle East and North Africa		6.55		4.42		3.60		4.63		4.92		3.68		2.21			2.40		4.34		3.23
Australia/Timor-Leste**		0.83		0.78		0.76		0.77		0.79		6.43		10.62			-		-		10.04
Indonesia		6.69		7.19		6.69		6.66		6.81		6.58		4.69			5.75		5.85		5.75
Malaysia		3.84		3.57		3.44		3.47		3.56		2.93		2.22			2.22		1.85		2.38
Asia Pacific		6.36		5.89		5.78		5.60		5.91		5.94		4.74			5.33		5.26		5.39
Total consolidated operations		5.27		4.08		3.73		3.88		4.25		3.60		2.64			2.77		3.47		3.17
Equity affiliates		7.31		5.81		6.40		5.75		6.29		5.41		3.90			2.61		2.93		3.71
Total		6.00		4.76		4.74		4.62		5.03		4.30		3.22			2.70		3.23		3.41
*Average realized prices exclude additional value realized from third-party purchases and sales for optimization of our pipeline capacity between Canada and the U.S. Gulf Coast.
**Excludes transfers to Darwin LNG plant.

							2019															2020
	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)		271			(193	)		(14	)		(26	)		38			(1,775	)		185			(390	)		100			(1,880	)
Detail of Earnings (Loss) ($ Millions)
Net interest expense		(196	)		(131	)		(123	)		(154	)		(604	)		(155	)		(174	)		(179	)		(154	)		(662	)
Corporate G&A expenses		(65	)		(49	)		(34	)		(104	)		(252	)		50			(90	)		(50	)		(110	)		(200	)
Technology*		96			(10	)		43			(6	)		123			1			(9	)		(8	)		(10	)		(26	)
Other		436			(3	)		100			238			771			(1,671	)		458			(153	)		374			(992	)
Total		271			(193	)		(14	)		(26	)		38			(1,775	)		185			(390	)		100			(1,880	)
*Includes investment in new technologies or businesses outside of our normal scope of operations and licensing revenues.
Before-Tax Net Interest Expense ($ Millions)
Interest expense		(243	)		(178	)		(200	)		(214	)		(835	)		(216	)		(216	)		(213	)		(216	)		(861	)
Capitalized interest		10			13			16			18			57			14			14			13			14			55
Interest revenue		32			33			45			39			149			42			22			9			15			88
Total		(201	)		(132	)		(139	)		(157	)		(629	)		(160	)		(180	)		(191	)		(187	)		(718	)
Debt
Total debt ($ Millions)		14,945			14,923			14,920			14,895			14,895			14,973			14,998			15,387			15,369			15,369
Debt-to-capital ratio (%)		31	%		31	%		30	%		30	%		30	%		32	%		32	%		33	%		34	%		34	%
Equity ($ Millions)		32,981			33,074			35,239			35,050			35,050			31,387			31,493			30,783			29,849			29,849

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
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