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

 Exhibit 99.2

	First-Quarter 2021 Detailed Supplemental Information
							2020													2021
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			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		6,158			2,749			4,386			5,491			18,784			9,826						9,826
Equity in earnings of affiliates		234			77			35			86			432			122						122
Gain (loss) on dispositions		(42	)		596			(3	)		(2	)		549			233						233
Other income (loss)		(1,539	)		594			(38	)		474			(509	)		378						378
Total Revenues and Other Income		4,811			4,016			4,380			6,049			19,256			10,559						10,559
Costs and Expenses
Purchased commodities		2,661			1,130			1,839			2,448			8,078			4,483						4,483
Production and operating expenses		1,173			1,047			963			1,161			4,344			1,383						1,383
Selling, general and administrative expenses		(3	)		156			96			181			430			311						311
Exploration expenses		188			97			125			1,047			1,457			84						84
Depreciation, depletion and amortization		1,411			1,158			1,411			1,541			5,521			1,886						1,886
Impairments		521			(2	)		2			292			813			(3	)					(3	)
Taxes other than income taxes		250			141			179			184			754			370						370
Accretion on discounted liabilities		67			66			62			57			252			62						62
Interest and debt expense		202			202			200			202			806			226						226
Foreign currency transactions (gain) loss		(90	)		7			(5	)		16			(72	)		19						19
Other expenses		(6	)		(7	)		20			6			13			24						24
Total Costs and Expenses		6,374			3,995			4,892			7,135			22,396			8,845						8,845
Income (loss) before income taxes		(1,563	)		21			(512	)		(1,086	)		(3,140	)		1,714						1,714
Income tax provision (benefit)		148			(257	)		(62	)		(314	)		(485	)		732						732
Net Income (Loss)		(1,711	)		278			(450	)		(772	)		(2,655	)		982						982
Less: net income attributable to noncontrolling interests		(28	)		(18	)		-			-			(46	)		-						-
Net Income (Loss) Attributable to ConocoPhillips		(1,739	)		260			(450	)		(772	)		(2,701	)		982						982
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock (dollars)
Basic		(1.60	)		0.24			(0.42	)		(0.72	)		(2.51	)		0.75						0.75
Diluted		(1.60	)		0.24			(0.42	)		(0.72	)		(2.51	)		0.75						0.75
Average Common Shares Outstanding (in thousands)*
Basic		1,084,561			1,076,659			1,077,377			1,073,580			1,078,030			1,300,375						1,300,375
Diluted		1,084,561			1,077,606			1,077,377			1,073,580			1,078,030			1,302,691						1,302,691
*Ending Common Shares Outstanding is 1,349,418 as of Mar. 31, 2021, compared with 1,068,035 as of Dec. 31, 2020.
INCOME (LOSS) BEFORE INCOME TAXES
Alaska		107			(195	)		(30	)		(857	)		(975	)		217						217
Lower 48		(562	)		(471	)		(105	)		(362	)		(1,500	)		609						609
Canada		(150	)		(177	)		(100	)		(84	)		(511	)		16						16
Europe, Middle East and North Africa		311			(60	)		113			221			585			511						511
Asia Pacific		445			702			84			70			1,301			432						432
Other International		27			(5	)		(11	)		(96	)		(85	)		(5	)					(5	)
Corporate and Other		(1,741	)		227			(463	)		22			(1,955	)		(66	)					(66	)
Consolidated		(1,563	)		21			(512	)		(1,086	)		(3,140	)		1,714						1,714
EFFECTIVE INCOME TAX RATES
Alaska*		24.3	%		27.6	%		47.6	%		25.0	%		26.2	%		26.8	%					26.8	%
Lower 48		22.3	%		22.5	%		25.0	%		33.2	%		25.2	%		23.2	%					23.2	%
Canada		26.8	%		51.8	%		24.9	%		33.4	%		36.2	%		33.7	%					33.7	%
Europe, Middle East and North Africa		35.3	%		142.3	%		19.0	%		40.9	%		23.3	%		70.1	%					70.1	%
Asia Pacific		32.7	%		5.2	%		70.0	%		75.9	%		22.6	%		26.6	%					26.6	%
Other International		-2.0	%		-2.6	%		28.7	%		17.9	%		24.3	%		28.0	%					28.0	%
Corporate and Other		-1.9	%		18.7	%		15.9	%		-361.1	%		3.9	%		-85.1	%					-85.1	%
Consolidated		-9.5	%		-1330.4	%		12.0	%		28.9	%		15.4	%		42.7	%					42.7	%
*Alaska including taxes other than income taxes.		61.2	%		-18.9	%		126.4	%		16.9	%		-15.1	%		50.3	%					50.3	%

							2020													2021
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr	4th Qtr	YTD
$ Millions
EARNINGS BY SEGMENT
Alaska		81			(141	)		(16	)		(643	)		(719	)		159						159
Lower 48		(437	)		(365	)		(78	)		(242	)		(1,122	)		468						468
Canada		(109	)		(86	)		(75	)		(56	)		(326	)		10						10
Europe, Middle East and North Africa		201			25			92			130			448			153						153
Asia Pacific		272			648			25			17			962			317						317
Other International		28			(6	)		(8	)		(78	)		(64	)		(4	)					(4	)
Corporate and Other		(1,775	)		185			(390	)		100			(1,880	)		(121	)					(121	)
Consolidated		(1,739	)		260			(450	)		(772	)		(2,701	)		982						982
SPECIAL ITEMS
Alaska		(120	)		81			-			(648	)		(687	)		(20	)					(20	)
Lower 48		(467	)		40			70			(221	)		(578	)		(236	)					(236	)
Canada		(29	)		77			-			-			48			(3	)					(3	)
Europe, Middle East and North Africa		(2	)		2			-			-			-			-						-
Asia Pacific		(4	)		601			-			-			597			199						199
Other International		29			-			-			(67	)		(38	)		-						-
Corporate and Other		(1,632	)		453			(189	)		365			(1,003	)		140						140
Consolidated		(2,225	)		1,254			(119	)		(571	)		(1,661	)		80						80
Detailed reconciliation of these items is provided on page 3.
ADJUSTED EARNINGS
Alaska		201			(222	)		(16	)		5			(32	)		179						179
Lower 48		30			(405	)		(148	)		(21	)		(544	)		704						704
Canada		(80	)		(163	)		(75	)		(56	)		(374	)		13						13
Europe, Middle East and North Africa		203			23			92			130			448			153						153
Asia Pacific		276			47			25			17			365			118						118
Other International		(1	)		(6	)		(8	)		(11	)		(26	)		(4	)					(4	)
Corporate and Other		(143	)		(268	)		(201	)		(265	)		(877	)		(261	)					(261	)
Consolidated		486			(994	)		(331	)		(201	)		(1,040	)		902						902
ADJUSTED EFFECTIVE INCOME TAX RATES
Alaska		23.0	%		26.6	%		47.6	%		128.6	%		62.9	%		26.4	%					26.4	%
Lower 48		18.0	%		22.5	%		23.3	%		73.7	%		28.3	%		23.3	%					23.3	%
Canada		27.2	%		25.0	%		24.9	%		33.4	%		26.8	%		28.3	%					28.3	%
Europe, Middle East and North Africa		36.9	%		132.9	%		19.0	%		40.9	%		23.3	%		70.2	%					70.2	%
Asia Pacific		32.5	%		41.3	%		70.0	%		75.9	%		42.6	%		49.3	%					49.3	%
Other International		28.6	%		-2.6	%		28.7	%		1.5	%		12.1	%		28.0	%					28.0	%
Corporate and Other		-13.9	%		15.0	%		25.0	%		17.6	%		14.9	%		8.1	%					8.1	%
Consolidated		38.2	%		26.3	%		18.2	%		9.2	%		11.1	%		44.8	%					44.8	%

								2020													2021
$ Millions	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr		4th Qtr	YTD
DETAILED SPECIAL ITEMS
Alaska
Transaction and restructuring expenses		-			-			-			-			-			(26	)					(26	)
Impairments		(154	)		109			-			(841	)		(886	)		-						-
Subtotal before income taxes		(154	)		109			-			(841	)		(886	)		(26	)					(26	)
Income tax provision (benefit)1		(34	)		28			-			(193	)		(199	)		(6	)					(6	)
Total		(120	)		81			-			(648	)		(687	)		(20	)					(20	)
Lower 48
Transaction and restructuring expenses		-			-			-			-			-			(175	)					(175	)
Net realized loss on accelerated settlement of Concho hedging program		-			-			-			-			-			(132	)					(132	)
Impairments		(561	)		50			-			(283	)		(794	)		-						-
Gain (loss) on asset sales		(38	)		2			-			-			(36	)		-						-
Pending claims and settlements		-			-			89			-			89			-						-
Subtotal before income taxes		(599	)		52			89			(283	)		(741	)		(307	)					(307	)
Income tax provision (benefit)		(132	)		12			19			(62	)		(163	)		(71	)					(71	)
Total		(467	)		40			70			(221	)		(578	)		(236	)					(236	)
Canada
Impairments		(39	)		39			-			-			-			-						-
Transaction and restructuring expenses		-			-			-			-			-			(3	)					(3	)
Subtotal before income taxes		(39	)		39			-			-			-			(3	)					(3	)
Income tax provision (benefit)2		(10	)		(38	)		-			-			(48	)		-						-
Total		(29	)		77			-			-			48			(3	)					(3	)
Europe, Middle East and North Africa
Impairments		(11	)		11			-			-			-			-						-
Transaction and restructuring expenses		-			-			-			-			-			(1	)					(1	)
Subtotal before income taxes		(11	)		11			-			-			-			(1	)					(1	)
Income tax provision (benefit)		(9	)		9			-			-			-			(1	)					(1	)
Total		(2	)		2			-			-			-			-						-
Asia Pacific
Gain (loss) on asset sales		-			587			-			-			587			200						200
Impairments		(5	)		5			-			-			-			-						-
Transaction and restructuring expenses		-			-			-			-			-			(1	)					(1	)
Subtotal before income taxes		(5	)		592			-			-			587			199						199
Income tax provision (benefit)3		(1	)		(9	)		-			-			(10	)		-						-
Total		(4	)		601			-			-			597			199						199
Other International
Pending claims and settlements		29			-			-			-			29			-						-
Exploration expense		-			-			-			(84	)		(84	)		-						-
Subtotal before income taxes		29			-			-			(84	)		(55	)		-						-
Income tax provision (benefit)		-			-			-			(17	)		(17	)		-						-
Total		29			-			-			(67	)		(38	)		-						-
Corporate and Other
Pension settlement expense		-			-			(27	)		(17	)		(44	)		-						-
Pending claims and settlements		-			3			-			(46	)		(43	)		-						-
Transaction and restructuring expense		-			-			-			(24	)		(24	)		(85	)					(85	)
Unrealized gain (loss) on CVE common shares		(1,691	)		551			(162	)		447			(855	)		308						308
Unrealized gain (loss) on CAD FX derivative		75			(12	)		(8	)		(17	)		38			(4	)					(4	)
Subtotal before income taxes		(1,616	)		542			(197	)		343			(928	)		219						219
Income tax provision (benefit)4		16			89			(8	)		(22	)		75			79						79
Total		(1,632	)		453			(189	)		365			(1,003	)		140						140
Total Company		(2,225	)		1,254			(119	)		(571	)		(1,661	)		80						80
1Includes deferred tax adjustment in 2Q 2020 in Alaska.
2Includes recognition of a tax refund in 2Q 2020 in Canada.
3Includes tax adjustment in 2Q 2020 for the Australia-West disposition.
4Includes deferred tax adjustment related to foreign tax credits in 2Q 2020 and 1Q 2021.

								2020													2021
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr		4th Qtr	YTD
$ Millions
CONSOLIDATED BALANCE SHEET
Assets
Cash and cash equivalents		3,908			2,907			2,490			2,991			2,991			2,831						2,831
Short-term investments		3,866			3,985			4,032			3,609			3,609			4,104						4,104
Accounts and notes receivable		2,116			1,399			1,984			2,634			2,634			4,339						4,339
Accounts and notes receivable—related parties		148			133			135			120			120			142						142
Investment in Cenovus Energy		420			971			809			1,256			1,256			1,564						1,564
Inventories		726			982			1,034			1,002			1,002			1,098						1,098
Prepaid expenses and other current assets		1,960			676			575			454			454			536						536
Total Current Assets		13,144			11,053			11,059			12,066			12,066			14,614						14,614
Investments and long-term receivables		8,707			8,334			8,295			8,017			8,017			8,286						8,286
Loans and advances—related parties		167			167			114			114			114			59						59
Net properties, plants and equipment		40,645			41,120			41,269			39,893			39,893			58,270						58,270
Other assets		2,370			2,372			2,420			2,528			2,528			2,464						2,464
Total Assets		65,033			63,046			63,157			62,618			62,618			83,693						83,693
Liabilities
Accounts payable		2,900			2,060			2,217			2,669			2,669			3,779						3,779
Accounts payable—related parties		21			20			22			29			29			22						22
Short-term debt		126			146			482			619			619			689						689
Accrued income and other taxes		853			312			339			320			320			959						959
Employee benefit obligations		323			422			469			608			608			567						567
Other accruals		1,852			1,145			1,111			1,121			1,121			1,168						1,168
Total Current Liabilities		6,075			4,105			4,640			5,366			5,366			7,184						7,184
Long-term debt		14,847			14,852			14,905			14,750			14,750			19,338						19,338
Asset retirement obligations and accrued environmental costs		5,316			5,465			5,651			5,430			5,430			5,782						5,782
Deferred income taxes		4,141			3,901			3,854			3,747			3,747			4,982						4,982
Employee benefit obligations		1,563			1,586			1,661			1,697			1,697			1,530						1,530
Other liabilities and deferred credits		1,704			1,644			1,663			1,779			1,779			1,722						1,722
Total Liabilities		33,646			31,553			32,374			32,769			32,769			40,538						40,538
Equity
Common stock issued
Par value		18			18			18			18			18			21						21
Capital in excess of par		47,027			47,079			47,113			47,133			47,133			60,278						60,278
Treasury stock		(47,130	)		(47,130	)		(47,130	)		(47,297	)		(47,297	)		(47,672	)					(47,672	)
Accumulated other comprehensive income (loss)		(6,145	)		(5,825	)		(5,666	)		(5,218	)		(5,218	)		(5,080	)					(5,080	)
Retained earnings		37,545			37,351			36,448			35,213			35,213			35,608						35,608
Total Common Stockholders' Equity		31,315			31,493			30,783			29,849			29,849			43,155						43,155
Noncontrolling Interests		72			-			-			-			-			-						-
Total Equity		31,387			31,493			30,783			29,849			29,849			43,155						43,155
Total Liabilities and Equity		65,033			63,046			63,157			62,618			62,618			83,693						83,693

								2020													2021
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr		4th Qtr	YTD
$ Millions
CASH FLOW INFORMATION
Cash Flows from Operating Activities
Net income (loss)		(1,711	)		278			(450	)		(772	)		(2,655	)		982						982
Depreciation, depletion and amortization		1,411			1,158			1,411			1,541			5,521			1,886						1,886
Impairments		521			(2	)		2			292			813			(3	)					(3	)
Dry hole costs and leasehold impairments		67			3			44			969			1,083			6						6
Accretion on discounted liabilities		67			66			62			57			252			62						62
Deferred taxes		(227	)		(93	)		(108	)		(406	)		(834	)		203						203
Undistributed equity earnings		31			373			46			195			645			81						81
(Gain) loss on dispositions		42			(596	)		3			2			(549	)		(233	)					(233	)
Unrealized (gain) loss on investment in Cenovus Energy		1,691			(551	)		162			(447	)		855			(308	)					(308	)
Other		(284	)		40			56			231			43			(581	)					(581	)
Net working capital changes		497			(519	)		(360	)		10			(372	)		(15	)					(15	)
Net Cash Provided by Operating Activities		2,105			157			868			1,672			4,802			2,080						2,080
Cash Flows from Investing Activities
Cash from Concho acquisition		-			-			-			-			-			382						382
Capital expenditures and investments		(1,649	)		(876	)		(1,132	)		(1,058	)		(4,715	)		(1,200	)					(1,200	)
Working capital changes associated with investing activities		81			(332	)		22			74			(155	)		61						61
Proceeds from asset dispositions		549			764			(1	)		5			1,317			(17	)					(17	)
Net sales (purchases) of investments		(935	)		(95	)		(59	)		431			(658	)		(499	)					(499	)
Long-term collections from (advances to)
related parties and other investments		22			9			54			5			90			58						58
Net Cash Provided by (Used in) Investing Activities		(1,932	)		(530	)		(1,116	)		(543	)		(4,121	)		(1,215	)					(1,215	)
Cash Flows from Financing Activities
Net issuance (repayment) of debt		(24	)		(190	)		280			(20	)		46			(26	)					(26	)
Issuance of company common stock		2			-			(4	)		(3	)		(5	)		(28	)					(28	)
Repurchase of company common stock		(726	)		-			-			(166	)		(892	)		(375	)					(375	)
Dividends paid		(458	)		(455	)		(454	)		(464	)		(1,831	)		(588	)					(588	)
Other		(24	)		(4	)		1			1			(26	)		2						2
Net Cash Provided by (Used in) Financing Activities		(1,230	)		(649	)		(177	)		(652	)		(2,708	)		(1,015	)					(1,015	)
Effect of Exchange Rate Changes		(122	)		29			31			42			(20	)		(2	)					(2	)
Net Change in Cash, Cash Equivalents and Restricted Cash		(1,179	)		(993	)		(394	)		519			(2,047	)		(152	)					(152	)
Cash, cash equivalents and restricted cash at beginning of period		5,362			4,183			3,190			2,796			5,362			3,315						3,315
Cash, Cash Equivalents and Restricted Cash at End of Period		4,183			3,190			2,796			3,315			3,315			3,163						3,163
CAPITAL EXPENDITURES AND INVESTMENTS
Alaska		509			223			150			156			1,038			235						235
Lower 48		776			354			268			483			1,881			718						718
Canada		74			68			451			58			651			33						33
Europe, Middle East and North Africa		121			130			159			190			600			121						121
Asia Pacific		103			85			92			104			384			76						76
Other International		53			10			3			55			121			6						6
Corporate and Other		13			6			9			12			40			11						11
Total Capital Expenditures and Investments		1,649			876			1,132			1,058			4,715			1,200						1,200

								2020										2021
	1st Qtr			2nd Qtr			3rd Qtr		4th Qtr		Full Year		1st Qtr			2nd Qtr	3rd Qtr		4th Qtr	YTD
TOTAL SEGMENTS
Production
Total (MBOED)		1,289			981			1,067		1,169		1,127		1,527						1,527
Crude Oil (MBD)
Consolidated operations		642			460			535		581		555		804						804
Equity affiliates		12			14			13		14		13		14						14
Total		654			474			548		595		568		818						818
Over (under) lifting of crude oil (MBD)		(20	)		(9	)		12		40		6		(28	)					(28	)
NGL (MBD)
Consolidated operations		116			85			89		98		97		105						105
Equity affiliates		7			8			8		8		8		8						8
Total		123			93			97		106		105		113						113
Bitumen (MBD)
Consolidated operations		66			34			49		69		55		70						70
Equity affiliates		-			-			-		-		-		-						-
Total		66			34			49		69		55		70						70
Natural Gas (MMCFD)
Consolidated operations		1,638			1,221			1,201		1,302		1,339		2,074						2,074
Equity affiliates		1,036			1,056			1,034		1,092		1,055		1,081						1,081
Total		2,674			2,277			2,235		2,394		2,394		3,155						3,155
Industry Prices
Crude Oil ($/BBL)
WTI		46.06			27.85			40.93		42.66		39.37		57.84						57.84
WCS		25.54			16.58			31.83		33.46		26.85		45.32						45.32
Brent dated		50.31			29.20			43.00		44.23		41.68		60.90						60.90
JCC ($/BBL)		65.89			67.71			30.58		40.83		51.25		43.77						43.77
Natural Gas ($/MMBTU)
Henry Hub first of month		1.95			1.71			1.98		2.67		2.08		2.71						2.71
Average Realized Prices
Total ($/BBL)		38.81			23.09			30.94		33.21		32.15		45.36						45.36
Crude Oil ($/BBL)
Consolidated operations		48.77			25.10			39.49		40.89		39.56		57.18						57.18
Equity affiliates		53.14			25.32			37.56		41.16		39.02		59.73						59.73
Total		48.86			25.10			39.45		40.89		39.54		57.22						57.22
NGL ($/BBL)
Consolidated operations		12.81			8.29			13.73		16.30		12.90		24.36						24.36
Equity affiliates		42.41			23.93			30.21		35.70		32.69		48.89						48.89
Total		14.82			9.88			15.29		17.98		14.61		26.44						26.44
Bitumen ($/BBL)
Consolidated operations		5.90			(23.11	)		15.87		19.41		8.02		30.78						30.78
Equity affiliates		-			-			-		-		-		-						-
Total		5.90			(23.11	)		15.87		19.41		8.02		30.78						30.78
Natural Gas ($/MCF)
Consolidated operations		3.60			2.64			2.77		3.47		3.17		4.89						4.89
Equity affiliates		5.41			3.90			2.61		2.93		3.71		3.54						3.54
Total		4.30			3.22			2.70		3.23		3.41		4.42						4.42
Exploration Expenses ($ Millions)
Dry holes		36			3			44		132		215		6						6
Leasehold impairment		31			-			-		837		868		-						-
Total noncash expenses		67			3			44		969		1,083		6						6
Other (G&A, G&G and lease rentals)		121			94			81		78		374		78						78
Total exploration expenses		188			97			125		1,047		1,457		84						84
U.S. exploration expenses		99			72			86		914		1,171		50						50
International exploration expenses		89			25			39		133		286		34						34
DD&A ($ Millions)
Alaska		209			191			274		322		996		317						317
Lower 48		707			548			619		680		2,554		1,000						1,000
Canada		69			66			95		109		339		126						126
Europe, Middle East and North Africa		196			167			194		212		769		219						219
Asia Pacific		217			170			217		205		809		211						211
Other International		-			-			-		-		-		-						-
Corporate and Other		13			16			12		13		54		13						13
Total DD&A		1,411			1,158			1,411		1,541		5,521		1,886						1,886

						2020									2021
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		Full Year		1st Qtr		2nd Qtr	3rd Qtr		4th Qtr	YTD
PRODUCTION
Crude Oil (MBD)
Consolidated operations
Alaska		198		153		184		190		181		190					190
Lower 48		270		166		197		218		213		416					416
Canada		2		5		6		10		6		11					11
Norway		84		75		76		75		78		80					80
Libya		9		-		1		24		8		36					36
Europe, Middle East and North Africa		93		75		77		99		86		116					116
Australia/Timor-Leste		4		3		-		-		2		-					-
China		31		30		29		28		30		31					31
Indonesia		2		2		2		3		2		2					2
Malaysia		42		26		40		33		35		38					38
Asia Pacific		79		61		71		64		69		71					71
Total consolidated operations		642		460		535		581		555		804					804
Equity affiliates		12		14		13		14		13		14					14
Total		654		474		548		595		568		818					818
NGL (MBD)
Consolidated operations
Alaska		19		13		14		16		16		17					17
Lower 48		89		64		68		75		74		79					79
Canada		1		2		2		3		2		4					4
Norway		5		5		5		4		4		5					5
Europe, Middle East and North Africa		5		5		5		4		4		5					5
Australia/Timor-Leste		2		1		-		-		1		-					-
Asia Pacific		2		1		-		-		1		-					-
Total consolidated operations		116		85		89		98		97		105					105
Equity affiliates		7		8		8		8		8		8					8
Total		123		93		97		106		105		113					113
Bitumen (MBD)
Canada		66		34		49		69		55		70					70
Total		66		34		49		69		55		70					70
Natural Gas (MMCFD)
Consolidated operations
Alaska		8		8		14		9		10		8					8
Lower 48		679		486		566		611		585		1,319					1,319
Canada		20		40		43		57		40		91					91
Norway		297		263		256		267		270		295					295
Libya		13		1		-		6		5		14					14
Europe, Middle East and North Africa		310		264		256		273		275		309					309
Australia/Timor-Leste		237		114		-		-		87		-					-
Indonesia		309		266		283		300		290		290					290
Malaysia		75		43		39		52		52		57					57
Asia Pacific		621		423		322		352		429		347					347
Total consolidated operations		1,638		1,221		1,201		1,302		1,339		2,074					2,074
Equity affiliates		1,036		1,056		1,034		1,092		1,055		1,081					1,081
Total		2,674		2,277		2,235		2,394		2,394		3,155					3,155
Total (MBOED)
Consolidated operations
Alaska		218		167		201		208		198		208					208
Lower 48		472		311		359		395		385		715					715
Canada		72		48		64		91		70		100					100
Norway		139		124		124		123		127		134					134
Libya		11		-		1		25		9		39					39
Europe, Middle East and North Africa		150		124		125		148		136		173					173
Australia/Timor-Leste		46		24		-		-		17		-					-
China		31		30		29		28		30		31					31
Indonesia		54		46		49		53		50		50					50
Malaysia		54		33		47		42		44		48					48
Asia Pacific		185		133		125		123		141		129					129
Total consolidated operations		1,097		783		874		965		930		1,325					1,325
Equity affiliates		192		198		193		204		197		202					202
Total		1,289		981		1,067		1,169		1,127		1,527					1,527

							2020									2021
	1st Qtr		2nd Qtr			3rd Qtr		4th Qtr		Full Year		1st Qtr		2nd Qtr	3rd Qtr		4th Qtr	YTD
AVERAGE REALIZED PRICES
Crude Oil ($/BBL)
Consolidated operations
Alaska		54.78		26.81			40.88		42.61		42.12		59.56					59.56
Lower 48***		40.97		19.87			36.43		38.50		35.17		55.68					55.68
Canada		-		8.69			25.16		28.57		23.57		47.41					47.41
Norway		54.92		32.32			41.79		41.62		42.80		56.72					56.72
Libya		64.21		-			-		44.93		48.64		59.78					59.78
Europe, Middle East and North Africa		55.53		32.32			41.79		42.35		43.30		57.75					57.75
Australia/Timor-Leste		47.35		47.21			-		-		47.34		-					-
China		54.10		25.09			39.75		42.80		40.29		58.27					58.27
Indonesia		29.33		30.64			36.41		41.21		34.97		53.79					53.79
Malaysia		57.67		30.59			46.43		42.42		45.26		62.27					62.27
Asia Pacific		54.71		27.98			42.79		42.50		42.84		60.36					60.36
Total consolidated operations		48.77		25.10			39.49		40.89		39.56		57.18					57.18
Equity affiliates		53.14		25.32			37.56		41.16		39.02		59.73					59.73
Total		48.86		25.10			39.45		40.89		39.54		57.22					57.22
NGL ($/BBL)
Consolidated operations
Lower 48		11.85		6.95			13.51		15.58		12.13		23.99					23.99
Canada		-		1.64			5.99		8.52		5.41		25.32					25.32
Norway		21.54		16.76			23.50		30.80		23.27		34.70					34.70
Europe, Middle East and North Africa		21.54		16.76			23.50		30.80		23.27		34.70					34.70
Australia/Timor-Leste		39.34		27.90			-		-		33.21		-					-
Asia Pacific		39.34		27.90			-		-		33.21		-					-
Total consolidated operations		12.81		8.29			13.73		16.30		12.90		24.36					24.36
Equity affiliates		42.41		23.93			30.21		35.70		32.69		48.89					48.89
Total		14.82		9.88			15.29		17.98		14.61		26.44					26.44
Bitumen ($/BBL)
Canada*		5.90		(23.11	)		15.87		19.41		8.02		30.78					30.78
Total		5.90		(23.11	)		15.87		19.41		8.02		30.78					30.78
Natural Gas ($/MCF)
Consolidated operations
Alaska		3.07		2.56			2.48		3.88		2.91		2.23					2.23
Lower 48***		1.48		1.18			1.63		2.21		1.65		4.56					4.56
Canada		-		0.79			0.71		1.77		1.21		2.37					2.37
Norway		3.65		2.21			2.40		4.39		3.23		6.15					6.15
Libya		4.53		-			-		2.26		3.71		2.71					2.71
Europe, Middle East and North Africa		3.68		2.21			2.40		4.34		3.23		5.99					5.99
Australia/Timor-Leste**		6.43		10.62			-		-		10.04		-					-
Indonesia		6.58		4.69			5.75		5.85		5.75		6.57					6.57
Malaysia		2.93		2.22			2.22		1.85		2.38		2.35					2.35
Asia Pacific		5.94		4.74			5.33		5.26		5.39		5.88					5.88
Total consolidated operations		3.60		2.64			2.77		3.47		3.17		4.89					4.89
Equity affiliates		5.41		3.90			2.61		2.93		3.71		3.54					3.54
Total		4.30		3.22			2.70		3.23		3.41		4.42					4.42
*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.
***Average realized prices, including the impact of hedges settling per initial contract terms in the first quarter of 2021 assumed in our Concho acquisition, were $51.58 per barrel for crude oil and $4.35 per mcf for natural gas. As of March 31, 2021, we had settled all oil and gas hedging positions acquired from Concho.

								2020													2021
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			Full Year			1st Qtr			2nd Qtr	3rd Qtr		4th Qtr	YTD
CORPORATE AND OTHER
Corporate and Other Earnings (Loss) ($ Millions)		(1,775	)		185			(390	)		100			(1,880	)		(121	)						(121	)
Detail of Earnings (Loss) ($ Millions)
Net interest expense		(155	)		(174	)		(179	)		(154	)		(662	)		(270	)						(270	)
Corporate G&A expenses		50			(90	)		(50	)		(110	)		(200	)		(129	)						(129	)
Technology*		1			(9	)		(8	)		(10	)		(26	)		41							41
Other		(1,671	)		458			(153	)		374			(992	)		237							237
Total		(1,775	)		185			(390	)		100			(1,880	)		(121	)						(121	)
*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		(216	)		(216	)		(213	)		(216	)		(861	)		(241	)						(241	)
Capitalized interest		14			14			13			14			55			15							15
Interest revenue		42			22			9			15			88			6							6
Total		(160	)		(180	)		(191	)		(187	)		(718	)		(220	)						(220	)
Debt
Total debt ($ Millions)		14,973			14,998			15,387			15,369			15,369			20,027							20,027
Debt-to-capital ratio (%)		32	%		32	%		33	%		34	%		34	%		32	%						32	%
Equity ($ Millions)		31,387			31,493			30,783			29,849			29,849			43,155							43,155

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