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

 Exhibit 99.2

	Fourth-Quarter 2021 Detailed Supplemental Information
							2020															2021
	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		6,158			2,749			4,386			5,491			18,784			9,826			9,556			11,326			15,120			45,828
Equity in earnings of affiliates		234			77			35			86			432			122			139			239			332			832
Gain (loss) on dispositions		(42	)		596			(3	)		(2	)		549			233			59			2			192			486
Other income (loss)		(1,539	)		594			(38	)		474			(509	)		378			457			49			319			1,203
Total Revenues and Other Income		4,811			4,016			4,380			6,049			19,256			10,559			10,211			11,616			15,963			48,349
Costs and Expenses
Purchased commodities		2,661			1,130			1,839			2,448			8,078			4,483			2,998			4,179			6,498			18,158
Production and operating expenses		1,173			1,047			963			1,161			4,344			1,383			1,379			1,389			1,543			5,694
Selling, general and administrative expenses		(3	)		156			96			181			430			311			117			128			163			719
Exploration expenses		188			97			125			1,047			1,457			84			57			65			138			344
Depreciation, depletion and amortization		1,411			1,158			1,411			1,541			5,521			1,886			1,867			1,672			1,783			7,208
Impairments		521			(2	)		2			292			813			(3	)		2			(89	)		764			674
Taxes other than income taxes		250			141			179			184			754			370			381			403			480			1,634
Accretion on discounted liabilities		67			66			62			57			252			62			63			61			56			242
Interest and debt expense		202			202			200			202			806			226			220			219			219			884
Foreign currency transactions (gain) loss		(90	)		7			(5	)		16			(72	)		19			10			(10	)		(41	)		(22	)
Other expenses		(6	)		(7	)		20			6			13			24			37			17			24			102
Total Costs and Expenses		6,374			3,995			4,892			7,135			22,396			8,845			7,131			8,034			11,627			35,637
Income (loss) before income taxes		(1,563	)		21			(512	)		(1,086	)		(3,140	)		1,714			3,080			3,582			4,336			12,712
Income tax provision (benefit)		148			(257	)		(62	)		(314	)		(485	)		732			989			1,203			1,709			4,633
Net Income (Loss)		(1,711	)		278			(450	)		(772	)		(2,655	)		982			2,091			2,379			2,627			8,079
Less: net income attributable to noncontrolling interests		(28	)		(18	)		-			-			(46	)		-			-			-			-			-
Net Income (Loss) Attributable to ConocoPhillips		(1,739	)		260			(450	)		(772	)		(2,701	)		982			2,091			2,379			2,627			8,079
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			1.55			1.78			1.99			6.09
Diluted		(1.60	)		0.24			(0.42	)		(0.72	)		(2.51	)		0.75			1.55			1.78			1.98			6.07
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			1,348,637			1,332,286			1,315,225			1,324,194
Diluted		1,084,561			1,077,606			1,077,377			1,073,580			1,078,030			1,302,691			1,353,201			1,336,379			1,320,829			1,328,151
*Ending Common Shares Outstanding is 1,302,243 as of December 31, 2021, compared with 1,318,947 as of September 30, 2021.
INCOME (LOSS) BEFORE INCOME TAXES
Alaska		107			(195	)		(30	)		(857	)		(975	)		217			480			517			574			1,788
Lower 48		(562	)		(471	)		(105	)		(362	)		(1,500	)		609			1,502			2,094			2,117			6,322
Canada		(150	)		(177	)		(100	)		(84	)		(511	)		16			135			205			252			608
Europe, Middle East and North Africa		311			(60	)		113			221			585			511			697			878			1,624			3,710
Asia Pacific		445			702			84			70			1,301			432			289			377			(162	)		936
Other International		27			(5	)		(11	)		(96	)		(85	)		(5	)		(6	)		(140	)		(9	)		(160	)
Corporate and Other		(1,741	)		227			(463	)		22			(1,955	)		(66	)		(17	)		(349	)		(60	)		(492	)
Consolidated		(1,563	)		21			(512	)		(1,086	)		(3,140	)		1,714			3,080			3,582			4,336			12,712
EFFECTIVE INCOME TAX RATES
Alaska*		24.3	%		27.6	%		47.6	%		25.0	%		26.2	%		26.8	%		22.8	%		21.6	%		21.4	%		22.5	%
Lower 48		22.3	%		22.5	%		25.0	%		33.2	%		25.2	%		23.2	%		21.7	%		22.1	%		21.7	%		22.0	%
Canada		26.8	%		51.8	%		24.9	%		33.4	%		36.2	%		33.7	%		24.9	%		24.4	%		24.2	%		24.7	%
Europe, Middle East and North Africa		35.3	%		142.3	%		19.0	%		40.9	%		23.3	%		70.1	%		70.3	%		72.5	%		65.2	%		68.5	%
Asia Pacific		32.7	%		5.2	%		70.0	%		75.9	%		22.6	%		26.6	%		39.4	%		31.9	%		-82.9	%		51.6	%
Other International		-2.0	%		-2.6	%		28.7	%		17.9	%		24.3	%		28.0	%		7.6	%		30.4	%		91.6	%		33.0	%
Corporate and Other		-1.9	%		18.7	%		15.9	%		-361.1	%		3.9	%		-85.1	%		496.6	%		38.9	%		198.2	%		57.3	%
Consolidated		-9.5	%		-1330.4	%		12.0	%		28.9	%		15.4	%		42.7	%		32.1	%		33.6	%		39.4	%		36.4	%
*Alaska including taxes other than income taxes.		61.2	%		-18.9	%		126.4	%		16.9	%		-15.1	%		50.3	%		38.8	%		36.0	%		37.9	%		39.3	%

							2020															2021
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
$ Millions
EARNINGS BY SEGMENT
Alaska		81			(141	)		(16	)		(643	)		(719	)		159			371			405			451			1,386
Lower 48		(437	)		(365	)		(78	)		(242	)		(1,122	)		468			1,175			1,631			1,658			4,932
Canada		(109	)		(86	)		(75	)		(56	)		(326	)		10			102			155			191			458
Europe, Middle East and North Africa		201			25			92			130			448			153			207			241			566			1,167
Asia Pacific		272			648			25			17			962			317			175			257			(296	)		453
Other International		28			(6	)		(8	)		(78	)		(64	)		(4	)		(5	)		(97	)		(1	)		(107	)
Corporate and Other		(1,775	)		185			(390	)		100			(1,880	)		(121	)		66			(213	)		58			(210	)
Consolidated		(1,739	)		260			(450	)		(772	)		(2,701	)		982			2,091			2,379			2,627			8,079
SPECIAL ITEMS
Alaska		(120	)		81			-			(648	)		(687	)		(20	)		(2	)		(1	)		3			(20	)
Lower 48		(467	)		40			70			(221	)		(578	)		(236	)		(10	)		56			(109	)		(299	)
Canada		(29	)		77			-			-			48			(3	)		52			77			97			223
Europe, Middle East and North Africa		(2	)		2			-			-			-			-			-			(5	)		-			(5	)
Asia Pacific		(4	)		601			-			-			597			199			-			-			(688	)		(489	)
Other International		29			-			-			(67	)		(38	)		-			-			(105	)		(3	)		(108	)
Corporate and Other		(1,632	)		453			(189	)		365			(1,003	)		140			335			(15	)		317			777
Consolidated		(2,225	)		1,254			(119	)		(571	)		(1,661	)		80			375			7			(383	)		79
Detailed reconciliation of these items is provided on page 3.
ADJUSTED EARNINGS
Alaska		201			(222	)		(16	)		5			(32	)		179			373			406			448			1,406
Lower 48		30			(405	)		(148	)		(21	)		(544	)		704			1,185			1,575			1,767			5,231
Canada		(80	)		(163	)		(75	)		(56	)		(374	)		13			50			78			94			235
Europe, Middle East and North Africa		203			23			92			130			448			153			207			246			566			1,172
Asia Pacific		276			47			25			17			365			118			175			257			392			942
Other International		(1	)		(6	)		(8	)		(11	)		(26	)		(4	)		(5	)		8			2			1
Corporate and Other		(143	)		(268	)		(201	)		(265	)		(877	)		(261	)		(269	)		(198	)		(259	)		(987	)
Consolidated		486			(994	)		(331	)		(201	)		(1,040	)		902			1,716			2,372			3,010			8,000
ADJUSTED EFFECTIVE INCOME TAX RATES
Alaska		23.0	%		26.6	%		47.6	%		128.6	%		62.9	%		26.4	%		22.7	%		21.7	%		22.4	%		22.8	%
Lower 48		18.0	%		22.5	%		23.3	%		73.7	%		28.3	%		23.3	%		21.7	%		22.0	%		21.8	%		22.1	%
Canada		27.2	%		25.0	%		24.9	%		33.4	%		26.8	%		28.3	%		26.2	%		25.7	%		25.3	%		25.8	%
Europe, Middle East and North Africa		36.9	%		132.9	%		19.0	%		40.9	%		23.3	%		70.2	%		70.3	%		72.7	%		65.2	%		68.6	%
Asia Pacific		32.5	%		41.3	%		70.0	%		75.9	%		42.6	%		49.3	%		39.4	%		31.9	%		25.5	%		33.9	%
Other International		28.6	%		-2.6	%		28.7	%		1.5	%		12.1	%		28.0	%		7.6	%		-7.1	%		143.6	%		107.8	%
Corporate and Other		-13.9	%		15.0	%		25.0	%		17.6	%		14.9	%		8.1	%		18.7	%		38.9	%		25.1	%		23.1	%
Consolidated		38.2	%		26.3	%		18.2	%		9.2	%		11.1	%		44.8	%		36.8	%		34.2	%		36.8	%		37.1	%

							2020															2021
$ Millions	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
DETAILED SPECIAL ITEMS
Alaska
Transaction and restructuring expenses		-			-			-			-			-			(26	)		(2	)		(1	)		(4	)		(33	)
Impairments		(154	)		109			-			(841	)		(886	)		-			-			-			-			-
Subtotal before income taxes		(154	)		109			-			(841	)		(886	)		(26	)		(2	)		(1	)		(4	)		(33	)
Income tax provision (benefit)1		(34	)		28			-			(193	)		(199	)		(6	)		-			-			(7	)		(13	)
Total		(120	)		81			-			(648	)		(687	)		(20	)		(2	)		(1	)		3			(20	)
Lower 48
Transaction and restructuring expenses		-			-			-			-			-			(175	)		(13	)		(15	)		(57	)		(260	)
Net realized loss on accelerated settlement of Concho hedging program		-			-			-			-			-			(132	)		-			-			-			(132	)
Impairments		(561	)		50			-			(283	)		(794	)		-			-			89			(85	)		4
Gain (loss) on asset sales		(38	)		2			-			-			(36	)		-			-			-			-			-
Pending claims and settlements		-			-			89			-			89			-			-			-			-			-
Subtotal before income taxes		(599	)		52			89			(283	)		(741	)		(307	)		(13	)		74			(142	)		(388	)
Income tax provision (benefit)		(132	)		12			19			(62	)		(163	)		(71	)		(3	)		18			(33	)		(89	)
Total		(467	)		40			70			(221	)		(578	)		(236	)		(10	)		56			(109	)		(299	)
Canada
Impairments		(39	)		39			-			-			-			-			-			-			-			-
Gain (loss) on asset sales		-			-			-			-			-			-			68			100			126			294
Transaction and restructuring expenses		-			-			-			-			-			(3	)		-			-			-			(3	)
Subtotal before income taxes		(39	)		39			-			-			-			(3	)		68			100			126			291
Income tax provision (benefit)2		(10	)		(38	)		-			-			(48	)		-			16			23			29			68
Total		(29	)		77			-			-			48			(3	)		52			77			97			223
Europe, Middle East and North Africa
Impairments		(11	)		11			-			-			-			-			-			-			-			-
Transaction and restructuring expenses		-			-			-			-			-			(1	)		-			(24	)		-			(25	)
Subtotal before income taxes		(11	)		11			-			-			-			(1	)		-			(24	)		-			(25	)
Income tax provision (benefit)		(9	)		9			-			-			-			(1	)		-			(19	)		-			(20	)
Total		(2	)		2			-			-			-			-			-			(5	)		-			(5	)
Asia Pacific
Gain (loss) on asset sales		-			587			-			-			587			200			-			-			-			200
Impairments		(5	)		5			-			-			-			-			-			-			(688	)		(688	)
Transaction and restructuring expenses		-			-			-			-			-			(1	)		-			-			-			(1	)
Subtotal before income taxes		(5	)		592			-			-			587			199			-			-			(688	)		(489	)
Income tax provision (benefit)3		(1	)		(9	)		-			-			(10	)		-			-			-			-			-
Total		(4	)		601			-			-			597			199			-			-			(688	)		(489	)
Other International
Pending claims and settlements		29			-			-			-			29			-			-			-			-			-
Gain (loss) on asset sales		-			-			-			-			-			-			-			(147	)		-			(147	)
Transaction and restructuring expenses		-			-			-			-			-			-			-			-			(4	)		(4	)
Exploration expense		-			-			-			(84	)		(84	)		-			-			-			-			-
Subtotal before income taxes		29			-			-			(84	)		(55	)		-			-			(147	)		(4	)		(151	)
Income tax provision (benefit)		-			-			-			(17	)		(17	)		-			-			(42	)		(1	)		(43	)
Total		29			-			-			(67	)		(38	)		-			-			(105	)		(3	)		(108	)
Corporate and Other
Pension settlement expense		-			-			(27	)		(17	)		(44	)		-			(42	)		(28	)		(29	)		(99	)
Pending claims and settlements		-			3			-			(46	)		(43	)		-			(48	)		-			-			(48	)
Transaction and restructuring expense		-			-			-			(24	)		(24	)		(85	)		(8	)		(12	)		(4	)		(109	)
Gain (loss) on investment in Cenovus Energy		(1,691	)		551			(162	)		447			(855	)		308			418			17			297			1,040
Unrealized gain (loss) on CAD FX derivative		75			(12	)		(8	)		(17	)		38			(4	)		(8	)		-			-			(12	)
Unrealized gain (loss) on AUD FX derivative		-			-			-			-			-			-			-			-			21			21
Subtotal before income taxes		(1,616	)		542			(197	)		343			(928	)		219			312			(23	)		285			793
Income tax provision (benefit)4		16			89			(8	)		(22	)		75			79			(23	)		(8	)		(32	)		16
Total		(1,632	)		453			(189	)		365			(1,003	)		140			335			(15	)		317			777
Total Company		(2,225	)		1,254			(119	)		(571	)		(1,661	)		80			375			7			(383	)		79
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; Q4 2021 tax adjustment related to Indonesia disposition.

							2020															2021
	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		3,908			2,907			2,490			2,991			2,991			2,831			6,608			9,833			5,028			5,028
Short-term investments		3,866			3,985			4,032			3,609			3,609			4,104			2,251			678			446			446
Accounts and notes receivable		2,116			1,399			1,984			2,634			2,634			4,339			4,401			5,336			6,543			6,543
Accounts and notes receivable—related parties		148			133			135			120			120			142			123			129			127			127
Investment in Cenovus Energy		420			971			809			1,256			1,256			1,564			1,802			1,416			1,117			1,117
Inventories		726			982			1,034			1,002			1,002			1,098			1,138			1,043			1,208			1,208
Prepaid expenses and other current assets		1,960			676			575			454			454			536			849			1,746			1,581			1,581
Total Current Assets		13,144			11,053			11,059			12,066			12,066			14,614			17,172			20,181			16,050			16,050
Investments and long-term receivables		8,707			8,334			8,295			8,017			8,017			8,286			8,013			8,058			7,113			7,113
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			57,717			56,689			64,911			64,911
Other assets		2,370			2,372			2,420			2,528			2,528			2,464			2,442			2,376			2,587			2,587
Total Assets		65,033			63,046			63,157			62,618			62,618			83,693			85,403			87,304			90,661			90,661
Liabilities
Accounts payable		2,900			2,060			2,217			2,669			2,669			3,779			3,591			4,101			5,002			5,002
Accounts payable—related parties		21			20			22			29			29			22			22			30			23			23
Short-term debt		126			146			482			619			619			689			1,205			920			1,200			1,200
Accrued income and other taxes		853			312			339			320			320			959			1,406			2,082			2,862			2,862
Employee benefit obligations		323			422			469			608			608			567			571			691			755			755
Other accruals		1,852			1,145			1,111			1,121			1,121			1,168			1,355			2,625			2,179			2,179
Total Current Liabilities		6,075			4,105			4,640			5,366			5,366			7,184			8,150			10,449			12,021			12,021
Long-term debt		14,847			14,852			14,905			14,750			14,750			19,338			18,805			18,748			18,734			18,734
Asset retirement obligations and accrued environmental costs		5,316			5,465			5,651			5,430			5,430			5,782			5,819			5,721			5,754			5,754
Deferred income taxes		4,141			3,901			3,854			3,747			3,747			4,982			5,331			5,630			6,179			6,179
Employee benefit obligations		1,563			1,586			1,661			1,697			1,697			1,530			1,297			1,162			1,153			1,153
Other liabilities and deferred credits		1,704			1,644			1,663			1,779			1,779			1,722			1,725			1,479			1,414			1,414
Total Liabilities		33,646			31,553			32,374			32,769			32,769			40,538			41,127			43,189			45,255			45,255
Equity
Common stock issued
Par value		18			18			18			18			18			21			21			21			21			21
Capital in excess of par		47,027			47,079			47,113			47,133			47,133			60,278			60,337			60,431			60,581			60,581
Treasury stock		(47,130	)		(47,130	)		(47,130	)		(47,297	)		(47,297	)		(47,672	)		(48,278	)		(49,521	)		(50,920	)		(50,920	)
Accumulated other comprehensive income (loss)		(6,145	)		(5,825	)		(5,666	)		(5,218	)		(5,218	)		(5,080	)		(4,920	)		(5,123	)		(4,950	)		(4,950	)
Retained earnings		37,545			37,351			36,448			35,213			35,213			35,608			37,116			38,307			40,674			40,674
Total Common Stockholders' Equity		31,315			31,493			30,783			29,849			29,849			43,155			44,276			44,115			45,406			45,406
Noncontrolling Interests		72			-			-			-			-			-			-			-			-			-
Total Equity		31,387			31,493			30,783			29,849			29,849			43,155			44,276			44,115			45,406			45,406
Total Liabilities and Equity		65,033			63,046			63,157			62,618			62,618			83,693			85,403			87,304			90,661			90,661

							2020															2021
	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)		(1,711	)		278			(450	)		(772	)		(2,655	)		982			2,091			2,379			2,627			8,079
Depreciation, depletion and amortization		1,411			1,158			1,411			1,541			5,521			1,886			1,867			1,672			1,783			7,208
Impairments		521			(2	)		2			292			813			(3	)		2			(89	)		764			674
Dry hole costs and leasehold impairments		67			3			44			969			1,083			6			1			-			37			44
Accretion on discounted liabilities		67			66			62			57			252			62			63			61			56			242
Deferred taxes		(227	)		(93	)		(108	)		(406	)		(834	)		203			364			328			451			1,346
Undistributed equity earnings		31			373			46			195			645			81			236			(59	)		188			446
(Gain) loss on dispositions		42			(596	)		3			2			(549	)		(233	)		(59	)		(2	)		(192	)		(486	)
(Gain) loss on investment in Cenovus Energy		1,691			(551	)		162			(447	)		855			(308	)		(418	)		(17	)		(297	)		(1,040	)
Other		(284	)		40			56			231			43			(581	)		(107	)		(178	)		78			(788	)
Net working capital changes		497			(519	)		(360	)		10			(372	)		(15	)		211			702			373			1,271
Net Cash Provided by Operating Activities		2,105			157			868			1,672			4,802			2,080			4,251			4,797			5,868			16,996
Cash Flows from Investing Activities
Capital expenditures and investments		(1,649	)		(876	)		(1,132	)		(1,058	)		(4,715	)		(1,200	)		(1,265	)		(1,302	)		(1,557	)		(5,324	)
Working capital changes associated with investing activities		81			(332	)		22			74			(155	)		61			(59	)		77			55			134
Acquisition of businesses, net of cash acquired		-			-			-			-			-			382			-			-			(8,672	)		(8,290	)
Proceeds from asset dispositions		549			764			(1	)		5			1,317			(17	)		177			632			861			1,653
Net sales (purchases) of investments		(935	)		(95	)		(59	)		431			(658	)		(499	)		1,801			1,544			245			3,091
Collection of advances/loans—related parties		66			-			50			-			116			52			-			53			-			105
Other		(44	)		9			4			5			(26	)		6			80			(472	)		473			87
Net Cash Provided by (Used in) Investing Activities		(1,932	)		(530	)		(1,116	)		(543	)		(4,121	)		(1,215	)		734			532			(8,595	)		(8,544	)
Cash Flows from Financing Activities
Net issuance (repayment) of debt		(24	)		(190	)		280			(20	)		46			(26	)		(18	)		(319	)		(142	)		(505	)
Issuance of company common stock		2			-			(4	)		(3	)		(5	)		(28	)		3			52			118			145
Repurchase of company common stock		(726	)		-			-			(166	)		(892	)		(375	)		(606	)		(1,243	)		(1,399	)		(3,623	)
Dividends paid		(458	)		(455	)		(454	)		(464	)		(1,831	)		(588	)		(583	)		(579	)		(609	)		(2,359	)
Other		(24	)		(4	)		1			1			(26	)		2			1			3			1			7
Net Cash Used in Financing Activities		(1,230	)		(649	)		(177	)		(652	)		(2,708	)		(1,015	)		(1,203	)		(2,086	)		(2,031	)		(6,335	)
Effect of Exchange Rate Changes		(122	)		29			31			42			(20	)		(2	)		11			(12	)		(31	)		(34	)
Net Change in Cash, Cash Equivalents and Restricted Cash		(1,179	)		(993	)		(394	)		519			(2,047	)		(152	)		3,793			3,231			(4,789	)		2,083
Cash, cash equivalents and restricted cash at beginning of period		5,362			4,183			3,190			2,796			5,362			3,315			3,163			6,956			10,187			3,315
Cash, Cash Equivalents and Restricted Cash at End of Period		4,183			3,190			2,796			3,315			3,315			3,163			6,956			10,187			5,398			5,398
CAPITAL EXPENDITURES AND INVESTMENTS
Alaska		509			223			150			156			1,038			235			228			235			284			982
Lower 48		776			354			268			483			1,881			718			762			770			879			3,129
Canada		74			68			451			58			651			33			35			61			74			203
Europe, Middle East and North Africa		121			130			159			190			600			121			136			128			149			534
Asia Pacific		103			85			92			104			384			76			72			87			155			390
Other International		53			10			3			55			121			6			12			15			-			33
Corporate and Other		13			6			9			12			40			11			20			6			16			53
Total Capital Expenditures and Investments		1,649			876			1,132			1,058			4,715			1,200			1,265			1,302			1,557			5,324

							2020											2021
	1st Qtr			2nd Qtr			3rd Qtr		4th Qtr		YTD		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			1,588		1,544		1,608			1,567
Crude Oil (MBD)
Consolidated operations		642			460			535		581		555		804			836		802		824			816
Equity affiliates		12			14			13		14		13		14			13		13		12			13
Total		654			474			548		595		568		818			849		815		836			829
Over (under) lifting of crude oil (MBD)		(20	)		(9	)		12		40		6		(28	)		27		42		(13	)		7
NGL (MBD)
Consolidated operations		116			85			89		98		97		105			120		123		186			134
Equity affiliates		7			8			8		8		8		8			8		7		8			8
Total		123			93			97		106		105		113			128		130		194			142
Bitumen (MBD)
Consolidated operations		66			34			49		69		55		70			68		69		68			69
Equity affiliates		-			-			-		-		-		-			-		-		-			-
Total		66			34			49		69		55		70			68		69		68			69
Natural Gas (MMCFD)
Consolidated operations		1,638			1,221			1,201		1,302		1,339		2,074			2,209		2,144		2,009			2,109
Equity affiliates		1,036			1,056			1,034		1,092		1,055		1,081			1,051		1,033		1,049			1,053
Total		2,674			2,277			2,235		2,394		2,394		3,155			3,260		3,177		3,058			3,162
Industry Prices
Crude Oil ($/BBL)
WTI		46.06			27.85			40.93		42.66		39.37		57.84			66.07		70.56		77.19			67.92
WCS		25.54			16.58			31.83		33.46		26.85		45.32			54.60		56.99		62.58			54.87
Brent dated		50.31			29.20			43.00		44.23		41.68		60.90			68.83		73.47		79.73			70.73
JCC ($/BBL)		65.89			67.71			30.58		40.83		51.25		43.77			55.88		67.00		73.13			59.94
Natural Gas ($/MMBTU)
Henry Hub first of month		1.95			1.71			1.98		2.67		2.08		2.71			2.83		4.02		5.84			3.85
Average Realized Prices
Total ($/BBL)		38.81			23.09			30.94		33.21		32.15		45.36			50.03		56.92		65.56			54.63
Crude Oil ($/BBL)
Consolidated operations		48.77			25.10			39.49		40.89		39.56		57.18			65.54		70.39		76.69			67.61
Equity affiliates		53.14			25.32			37.56		41.16		39.02		59.73			64.10		73.44		81.53			69.45
Total		48.86			25.10			39.45		40.89		39.54		57.22			65.51		70.43		76.76			67.64
NGL ($/BBL)
Consolidated operations		12.81			8.29			13.73		16.30		12.90		24.36			25.62		33.28		36.41			31.04
Equity affiliates		42.41			23.93			30.21		35.70		32.69		48.89			44.12		56.70		67.77			54.16
Total		14.82			9.88			15.29		17.98		14.61		26.44			26.87		34.79		37.72			32.45
Bitumen ($/BBL)
Consolidated operations		5.90			(23.11	)		15.87		19.41		8.02		30.78			37.60		41.19		40.74			37.52
Equity affiliates		-			-			-		-		-		-			-		-		-			-
Total		5.90			(23.11	)		15.87		19.41		8.02		30.78			37.60		41.19		40.74			37.52
Natural Gas ($/MCF)
Consolidated operations		3.60			2.64			2.77		3.47		3.17		4.89			4.25		5.93		9.13			6.00
Equity affiliates		5.41			3.90			2.61		2.93		3.71		3.54			3.97		5.95		7.80			5.31
Total		4.30			3.22			2.70		3.23		3.41		4.42			4.16		5.94		8.66			5.77
Exploration Expenses ($ Millions)
Dry holes		36			3			44		132		215		6			-		-		28			34
Leasehold impairment		31			-			-		837		868		-			1		-		9			10
Total noncash expenses		67			3			44		969		1,083		6			1		-		37			44
Other (G&A, G&G and lease rentals)		121			94			81		78		374		78			56		65		101			300
Total exploration expenses		188			97			125		1,047		1,457		84			57		65		138			344
U.S. exploration expenses		99			72			86		914		1,171		50			35		32		99			216
International exploration expenses		89			25			39		133		286		34			22		33		39			128
DD&A ($ Millions)
Alaska		209			191			274		322		996		317			262		201		217			997
Lower 48		707			548			619		680		2,554		1,000			1,017		988		1,070			4,075
Canada		69			66			95		109		339		126			93		85		82			386
Europe, Middle East and North Africa		196			167			194		212		769		219			234		217		216			886
Asia Pacific		217			170			217		205		809		211			240		167		170			788
Other International		-			-			-		-		-		-			-		-		-			-
Corporate and Other		13			16			12		13		54		13			21		14		28			76
Total DD&A		1,411			1,158			1,411		1,541		5,521		1,886			1,867		1,672		1,783			7,208

					2020										2021
	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		198		153		184		190		181		190		184		163		180		178
Lower 48		270		166		197		218		213		416		454		457		457		447
Canada		2		5		6		10		6		11		9		8		7		8
Norway		84		75		76		75		78		80		81		82		80		81
Libya		9		-		1		24		8		36		39		35		38		37
Europe, Middle East and North Africa		93		75		77		99		86		116		120		117		118		118
Australia/Timor-Leste		4		3		-		-		2		-		-		-		-		-
China		31		30		29		28		30		31		27		27		28		28
Indonesia		2		2		2		3		2		2		2		2		2		2
Malaysia		42		26		40		33		35		38		40		28		32		35
Asia Pacific		79		61		71		64		69		71		69		57		62		65
Total consolidated operations		642		460		535		581		555		804		836		802		824		816
Equity affiliates		12		14		13		14		13		14		13		13		12		13
Total		654		474		548		595		568		818		849		815		836		829
NGL (MBD)
Consolidated operations
Alaska		19		13		14		16		16		17		15		13		17		16
Lower 48		89		64		68		75		74		79		97		101		162		110
Canada		1		2		2		3		2		4		4		4		3		4
Norway		5		5		5		4		4		5		4		5		4		4
Europe, Middle East and North Africa		5		5		5		4		4		5		4		5		4		4
Australia/Timor-Leste		2		1		-		-		1		-		-		-		-		-
Asia Pacific		2		1		-		-		1		-		-		-		-		-
Total consolidated operations		116		85		89		98		97		105		120		123		186		134
Equity affiliates		7		8		8		8		8		8		8		7		8		8
Total		123		93		97		106		105		113		128		130		194		142
Bitumen (MBD)
Canada		66		34		49		69		55		70		68		69		68		69
Total		66		34		49		69		55		70		68		69		68		69
Natural Gas (MMCFD)
Consolidated operations
Alaska		8		8		14		9		10		8		11		11		33		16
Lower 48		679		486		566		611		585		1,319		1,459		1,389		1,195		1,340
Canada		20		40		43		57		40		91		84		73		70		80
Norway		297		263		256		267		270		295		284		291		323		298
Libya		13		1		-		6		5		14		13		12		21		15
Europe, Middle East and North Africa		310		264		256		273		275		309		297		303		344		313
Australia/Timor-Leste		237		114		-		-		87		-		-		-		-		-
Indonesia		309		266		283		300		290		290		290		299		296		294
Malaysia		75		43		39		52		52		57		68		69		71		66
Asia Pacific		621		423		322		352		429		347		358		368		367		360
Total consolidated operations		1,638		1,221		1,201		1,302		1,339		2,074		2,209		2,144		2,009		2,109
Equity affiliates		1,036		1,056		1,034		1,092		1,055		1,081		1,051		1,033		1,049		1,053
Total		2,674		2,277		2,235		2,394		2,394		3,155		3,260		3,177		3,058		3,162
Total (MBOED)
Consolidated operations
Alaska		218		167		201		208		198		208		201		178		203		197
Lower 48		472		311		359		395		385		715		794		790		818		780
Canada		72		48		64		91		70		100		95		93		90		94
Norway		139		124		124		123		127		134		132		135		138		135
Libya		11		-		1		25		9		39		41		37		41		40
Europe, Middle East and North Africa		150		124		125		148		136		173		173		172		179		175
Australia/Timor-Leste		46		24		-		-		17		-		-		-		-		-
China		31		30		29		28		30		31		27		27		28		28
Indonesia		54		46		49		53		50		50		50		52		51		51
Malaysia		54		33		47		42		44		48		52		40		44		46
Asia Pacific		185		133		125		123		141		129		129		119		123		125
Total consolidated operations		1,097		783		874		965		930		1,325		1,392		1,352		1,413		1,371
Equity affiliates		192		198		193		204		197		202		196		192		195		196
Total		1,289		981		1,067		1,169		1,127		1,527		1,588		1,544		1,608		1,567

						2020										2021
	1st Qtr		2nd Qtr			3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
AVERAGE REALIZED PRICES
Crude Oil ($/BBL)
Consolidated operations
Alaska		54.78		26.81			40.88		42.61		42.12		59.56		67.87		72.55		79.61		69.87
Lower 48***		40.97		19.87			36.43		38.50		35.17		55.68		64.13		68.59		74.82		66.12
Canada		-		8.69			25.16		28.57		23.57		47.41		56.87		58.99		66.62		56.38
Norway		54.92		32.32			41.79		41.62		42.80		56.72		66.10		72.36		78.51		68.94
Libya		64.21		-			-		44.93		48.64		59.78		66.88		72.57		77.64		69.06
Europe, Middle East and North Africa		55.53		32.32			41.79		42.35		43.30		57.75		66.34		72.43		78.27		68.97
Australia/Timor-Leste		47.35		47.21			-		-		47.34		-		-		-		-		-
China		54.10		25.09			39.75		42.80		40.29		58.27		65.63		74.39		79.61		69.39
Indonesia		29.33		30.64			36.41		41.21		34.97		53.79		57.16		61.35		73.35		61.92
Malaysia		57.67		30.59			46.43		42.42		45.26		62.27		69.77		75.65		80.87		71.59
Asia Pacific		54.71		27.98			42.79		42.50		42.84		60.36		67.72		74.66		80.05		70.36
Total consolidated operations		48.77		25.10			39.49		40.89		39.56		57.18		65.54		70.39		76.69		67.61
Equity affiliates		53.14		25.32			37.56		41.16		39.02		59.73		64.10		73.44		81.53		69.45
Total		48.86		25.10			39.45		40.89		39.54		57.22		65.51		70.43		76.76		67.64
NGL ($/BBL)
Consolidated operations
Lower 48		11.85		6.95			13.51		15.58		12.13		23.99		24.62		32.87		35.99		30.63
Canada		-		1.64			5.99		8.52		5.41		25.32		27.14		33.47		39.68		31.18
Norway		21.54		16.76			23.50		30.80		23.27		34.70		39.49		50.32		57.91		43.97
Europe, Middle East and North Africa		21.54		16.76			23.50		30.80		23.27		34.70		39.49		50.32		57.91		43.97
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		25.62		33.28		36.41		31.04
Equity affiliates		42.41		23.93			30.21		35.70		32.69		48.89		44.12		56.70		67.77		54.16
Total		14.82		9.88			15.29		17.98		14.61		26.44		26.87		34.79		37.72		32.45
Bitumen ($/BBL)
Canada*		5.90		(23.11	)		15.87		19.41		8.02		30.78		37.60		41.19		40.74		37.52
Total		5.90		(23.11	)		15.87		19.41		8.02		30.78		37.60		41.19		40.74		37.52
Natural Gas ($/MCF)
Consolidated operations
Alaska		3.07		2.56			2.48		3.88		2.91		2.23		4.53		2.63		2.22		2.81
Lower 48***		1.48		1.18			1.63		2.21		1.65		4.56		3.27		4.63		5.25		4.38
Canada		-		0.79			0.71		1.77		1.21		2.37		2.26		2.45		3.16		2.54
Norway		3.65		2.21			2.40		4.39		3.23		6.15		7.36		12.28		27.06		13.75
Libya		4.53		-			-		2.26		3.71		2.71		3.02		4.17		4.58		3.73
Europe, Middle East and North Africa		3.68		2.21			2.40		4.34		3.23		5.99		7.17		11.96		25.71		13.27
Australia/Timor-Leste**		6.43		10.62			-		-		10.04		-		-		-		-		-
Indonesia		6.58		4.69			5.75		5.85		5.75		6.57		7.19		7.49		8.23		7.38
Malaysia		2.93		2.22			2.22		1.85		2.38		2.35		2.61		3.02		3.59		2.93
Asia Pacific		5.94		4.74			5.33		5.26		5.39		5.88		6.32		6.66		7.33		6.56
Total consolidated operations		3.60		2.64			2.77		3.47		3.17		4.89		4.25		5.93		9.13		6.00
Equity affiliates		5.41		3.90			2.61		2.93		3.71		3.54		3.97		5.95		7.80		5.31
Total		4.30		3.22			2.70		3.23		3.41		4.42		4.16		5.94		8.66		5.77
*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 sales prices, including the impact of hedges settling per initial contract terms in the first quarter of 2021 assumed in our Concho acquisition, were $65.19 per barrel for crude oil and $4.33 per mcf for natural gas for the year ended December 31, 2021. 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			YTD			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	)		66			(213	)		58			(210	)
Detail of Earnings (Loss) ($ Millions)
Net interest expense		(155	)		(174	)		(179	)		(154	)		(662	)		(270	)		(181	)		(176	)		(174	)		(801	)
Corporate G&A expenses		50			(90	)		(50	)		(110	)		(200	)		(129	)		(65	)		(57	)		(66	)		(317	)
Technology*		1			(9	)		(8	)		(10	)		(26	)		41			(4	)		(6	)		(6	)		25
Other		(1,671	)		458			(153	)		374			(992	)		237			316			26			304			883
Total		(1,775	)		185			(390	)		100			(1,880	)		(121	)		66			(213	)		58			(210	)
*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	)		(235	)		(236	)		(234	)		(946	)
Capitalized interest		14			14			13			14			55			15			15			17			15			62
Interest revenue		42			22			9			15			88			6			4			5			7			22
Total		(160	)		(180	)		(191	)		(187	)		(718	)		(220	)		(216	)		(214	)		(212	)		(862	)
Debt
Total debt ($ Millions)		14,973			14,998			15,387			15,369			15,369			20,027			20,010			19,668			19,934			19,934
Debt-to-capital ratio (%)		32	%		32	%		33	%		34	%		34	%		32	%		31	%		31	%		31	%		31	%
Equity ($ Millions)		31,387			31,493			30,783			29,849			29,849			43,155			44,276			44,115			45,406			45,406

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