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

Exhibit 99.2

	Second-Quarter 2022 Detailed Supplemental Information
	2021															2022
	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		9,826			9,556			11,326			15,120			45,828			17,762			21,161					38,923
Equity in earnings of affiliates		122			139			239			332			832			426			524					950
Gain on dispositions		233			59			2			192			486			817			262					1,079
Other income		378			457			49			319			1,203			286			42					328
Total Revenues and Other Income		10,559			10,211			11,616			15,963			48,349			19,291			21,989					41,280
Costs and Expenses
Purchased commodities		4,483			2,998			4,179			6,498			18,158			6,751			9,234					15,985
Production and operating expenses		1,383			1,379			1,389			1,543			5,694			1,581			1,741					3,322
Selling, general and administrative expenses		311			117			128			163			719			187			96					283
Exploration expenses		84			57			65			138			344			69			143					212
Depreciation, depletion and amortization		1,886			1,867			1,672			1,783			7,208			1,823			1,810					3,633
Impairments		(3	)		2			(89	)		764			674			2			2					4
Taxes other than income taxes		370			381			403			480			1,634			814			1,020					1,834
Accretion on discounted liabilities		62			63			61			56			242			61			61					122
Interest and debt expense		226			220			219			219			884			217			211					428
Foreign currency transactions (gain) loss		19			10			(10	)		(41	)		(22	)		24			(70	)				(46	)
Other expenses		24			37			17			24			102			(136	)		86					(50	)
Total Costs and Expenses		8,845			7,131			8,034			11,627			35,637			11,393			14,334					25,727
Income before income taxes		1,714			3,080			3,582			4,336			12,712			7,898			7,655					15,553
Income tax provision		732			989			1,203			1,709			4,633			2,139			2,510					4,649
Net Income		982			2,091			2,379			2,627			8,079			5,759			5,145					10,904
Net Income Per Share of Common Stock (dollars)
Basic		0.75			1.55			1.78			1.99			6.09			4.41			3.98					8.39
Diluted		0.75			1.55			1.78			1.98			6.07			4.39			3.96					8.36
Average Common Shares Outstanding (in thousands)*
Basic		1,300,375			1,348,637			1,332,286			1,315,225			1,324,194			1,301,930			1,289,791					1,295,827
Diluted		1,302,691			1,353,201			1,336,379			1,320,829			1,328,151			1,307,404			1,295,844					1,301,126
*Ending Common Shares Outstanding is 1,273,033 as of June 30, 2022, compared with 1,293,450 as of March 31, 2022.
INCOME (LOSS) BEFORE INCOME TAXES
Alaska		217			480			517			574			1,788			802			983					1,785
Lower 48		609			1,502			2,094			2,117			6,322			3,547			4,456					8,003
Canada		16			135			205			252			608			381			418					799
Europe, Middle East and North Africa		511			697			878			1,624			3,710			1,774			1,533					3,307
Asia Pacific		432			289			377			(162	)		936			1,310			637					1,947
Other International		(5	)		(6	)		(140	)		(9	)		(160	)		-			-					-
Corporate and Other		(66	)		(17	)		(349	)		(60	)		(492	)		84			(372	)				(288	)
Consolidated		1,714			3,080			3,582			4,336			12,712			7,898			7,655					15,553
EFFECTIVE INCOME TAX RATES
Alaska*		26.8	%		22.8	%		21.6	%		21.4	%		22.5	%		27.1	%		30.1	%				28.8	%
Lower 48		23.2	%		21.7	%		22.1	%		21.7	%		22.0	%		21.4	%		19.6	%				20.4	%
Canada		33.7	%		24.9	%		24.4	%		24.2	%		24.7	%		23.7	%		24.3	%				24.0	%
Europe, Middle East and North Africa		70.1	%		70.3	%		72.5	%		65.2	%		68.5	%		76.8	%		74.9	%				75.9	%
Asia Pacific		26.6	%		39.4	%		31.9	%		-82.9	%		51.6	%		13.3	%		17.7	%				14.7	%
Other International		28.0	%		7.6	%		30.4	%		91.6	%		33.0	%		-137.8	%		43.0	%				14.9	%
Corporate and Other		-85.1	%		496.6	%		38.9	%		198.2	%		57.3	%		-546.2	%		6.2	%				168.6	%
Consolidated		42.7	%		32.1	%		33.6	%		39.4	%		36.4	%		27.1	%		32.8	%				29.9	%
*Alaska including taxes other than income taxes.		50.3	%		38.8	%		36.0	%		37.9	%		39.3	%		47.8	%		52.1	%				50.2	%

	2021															2022
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr	4th Qtr	YTD
$ Millions
EARNINGS BY SEGMENT
Alaska		159			371			405			451			1,386			584			687					1,271
Lower 48		468			1,175			1,631			1,658			4,932			2,790			3,581					6,371
Canada		10			102			155			191			458			291			316					607
Europe, Middle East and North Africa		153			207			241			566			1,167			412			385					797
Asia Pacific		317			175			257			(296	)		453			1,136			525					1,661
Other International		(4	)		(5	)		(97	)		(1	)		(107	)		-			-					-
Corporate and Other		(121	)		66			(213	)		58			(210	)		546			(349	)				197
Consolidated		982			2,091			2,379			2,627			8,079			5,759			5,145					10,904
SPECIAL ITEMS
Alaska		(20	)		(2	)		(1	)		3			(20	)		23			-					23
Lower 48		(236	)		(10	)		56			(109	)		(299	)		16			69					85
Canada		(3	)		52			77			97			223			176			118					294
Europe, Middle East and North Africa		-			-			(5	)		-			(5	)		-			(58	)				(58	)
Asia Pacific		199			-			-			(688	)		(489	)		534			-					534
Other International		-			-			(105	)		(3	)		(108	)		-			-					-
Corporate and Other		140			335			(15	)		317			777			721			(70	)				651
Consolidated		80			375			7			(383	)		79			1,470			59					1,529
Detailed reconciliation of these items is provided on page 3.
ADJUSTED EARNINGS
Alaska		179			373			406			448			1,406			561			687					1,248
Lower 48		704			1,185			1,575			1,767			5,231			2,774			3,512					6,286
Canada		13			50			78			94			235			115			198					313
Europe, Middle East and North Africa		153			207			246			566			1,172			412			443					855
Asia Pacific		118			175			257			392			942			602			525					1,127
Other International		(4	)		(5	)		8			2			1			-			-					-
Corporate and Other		(261	)		(269	)		(198	)		(259	)		(987	)		(175	)		(279	)				(454	)
Consolidated		902			1,716			2,372			3,010			8,000			4,289			5,086					9,375
ADJUSTED EFFECTIVE INCOME TAX RATES
Alaska		26.4	%		22.7	%		21.7	%		22.4	%		22.8	%		30.0	%		30.1	%				30.1	%
Lower 48		23.3	%		21.7	%		22.0	%		21.8	%		22.1	%		22.1	%		19.6	%				20.7	%
Canada		28.3	%		26.2	%		25.7	%		25.3	%		25.8	%		24.4	%		25.1	%				24.8	%
Europe, Middle East and North Africa		70.2	%		70.3	%		72.7	%		65.2	%		68.6	%		76.8	%		71.1	%				74.1	%
Asia Pacific		49.3	%		39.4	%		31.9	%		25.5	%		33.9	%		22.4	%		17.7	%				20.3	%
Other International		28.0	%		7.6	%		-7.1	%		143.6	%		107.8	%		-137.8	%		43.0	%				14.9	%
Corporate and Other		8.1	%		18.7	%		38.9	%		25.1	%		23.1	%		38.1	%		3.4	%				20.6	%
Consolidated		44.8	%		36.8	%		34.2	%		36.8	%		37.1	%		36.8	%		32.2	%				34.4	%

	2021															2022
$ 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	)		-				-					-
Subtotal before income taxes		(26	)		(2	)		(1	)		(4	)		(33	)		-				-					-
Income tax provision (benefit)1		(6	)		-			-			(7	)		(13	)		(23	)			-					(23	)
Total		(20	)		(2	)		(1	)		3			(20	)		23				-					23
Lower 48
Transaction and restructuring expenses		(175	)		(13	)		(15	)		(57	)		(260	)		(14	)			(14	)				(28	)
Gain (loss) on accelerated settlement of Concho hedging program		(132	)		-			-			-			(132	)		-				-					-
Impairments		-			-			89			(85	)		4			-				-					-
Gain (loss) on asset sales		-			-			-			-			-			-				101					101
Subtotal before income taxes		(307	)		(13	)		74			(142	)		(388	)		(14	)			87					73
Income tax provision (benefit)2		(71	)		(3	)		18			(33	)		(89	)		(30	)			18					(12	)
Total		(236	)		(10	)		56			(109	)		(299	)		16				69					85
Canada
Gain (loss) on asset sales		-			68			100			126			294			229				153					382
Transaction and restructuring expenses		(3	)		-			-			-			(3	)		-				-					-
Subtotal before income taxes		(3	)		68			100			126			291			229				153					382
Income tax provision (benefit)		-			16			23			29			68			53				35					88
Total		(3	)		52			77			97			223			176				118					294
Europe, Middle East and North Africa
Transaction and restructuring expenses		(1	)		-			(24	)		-			(25	)		-				-					-
Subtotal before income taxes		(1	)		-			(24	)		-			(25	)		-				-					-
Income tax provision (benefit)4		(1	)		-			(19	)		-			(20	)		-				58					58
Total		-			-			(5	)		-			(5	)		-				(58	)				(58	)
Asia Pacific
Gain (loss) on asset sales		200			-			-			-			200			534				-					534
Impairments		-			-			-			(688	)		(688	)		-				-					-
Transaction and restructuring expenses		(1	)		-			-			-			(1	)		-		��		-					-
Subtotal before income taxes		199			-			-			(688	)		(489	)		534				-					534
Income tax provision (benefit)		-			-			-			-			-			-				-					-
Total		199			-			-			(688	)		(489	)		534				-					534
Other International
Gain (loss) on asset sales		-			-			(147	)		-			(147	)		-				-					-
Transaction and restructuring expenses		-			-			-			(4	)		(4	)		-				-					-
Subtotal before income taxes		-			-			(147	)		(4	)		(151	)		-				-					-
Income tax provision (benefit)		-			-			(42	)		(1	)		(43	)		-				-					-
Total		-			-			(105	)		(3	)		(108	)		-				-					-
Corporate and Other
Pension settlement expense		-			(42	)		(28	)		(29	)		(99	)		-				-					-
Pending claims and settlements		-			(48	)		-			-			(48	)		-				-					-
Transaction and restructuring expense		(85	)		(8	)		(12	)		(4	)		(109	)		-				-					-
Gain (loss) on investment in Cenovus Energy		308			418			17			297			1,040			251				-					251
Gain (loss) on CAD FX derivative		(4	)		(8	)		-			-			(12	)		-				-					-
Gain (loss) on AUD FX derivative		-			-			-			21			21			(10	)			-					(10	)
Gain (loss) on debt extinguishment and exchange fees		-			-			-			-			-			127				(83	)				44
Subtotal before income taxes		219			312			(23	)		285			793			368				(83	)				285
Income tax provision (benefit)3		79			(23	)		(8	)		(32	)		16			(353	)			(13	)				(366	)
Total		140			335			(15	)		317			777			721				(70	)				651
Total Company		80			375			7			(383	)		79			1,470				59					1,529
1Includes a tax adjustment in Q1 2022 related to the closure of an audit.
2Includes a tax adjustment in Q1 2022 related to the closure of an audit.
3Includes deferred tax adjustment related to foreign tax credits in Q1 2021; Q4 2021 and Q1 2022 tax adjustment related to Indonesia disposition; Q1 2022 tax adjustments including the closure of an audit.
4Includes Norway tax reform for Q2 2022.

	2021															2022
	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		2,831			6,608			9,833			5,028			5,028			6,414			6,909					6,909
Short-term investments		4,104			2,251			678			446			446			730			1,272					1,272
Accounts and notes receivable		4,339			4,401			5,336			6,543			6,543			7,807			8,081					8,081
Accounts and notes receivable—related parties		142			123			129			127			127			72			72					72
Investment in Cenovus Energy		1,564			1,802			1,416			1,117			1,117			-			-					-
Inventories		1,098			1,138			1,043			1,208			1,208			1,174			1,234					1,234
Prepaid expenses and other current assets		536			849			1,746			1,581			1,581			1,389			1,292					1,292
Total Current Assets		14,614			17,172			20,181			16,050			16,050			17,586			18,860					18,860
Investments and long-term receivables		8,286			8,013			8,058			7,113			7,113			8,309			8,203					8,203
Loans and advances—related parties		59			59			-			-			-			-			-					-
Net properties, plants and equipment		58,270			57,717			56,689			64,911			64,911			64,642			64,008					64,008
Other assets		2,464			2,442			2,376			2,587			2,587			2,771			2,622					2,622
Total Assets		83,693			85,403			87,304			90,661			90,661			93,308			93,693					93,693
Liabilities
Accounts payable		3,779			3,591			4,101			5,002			5,002			4,875			5,845					5,845
Accounts payable—related parties		22			22			30			23			23			22			28					28
Short-term debt		689			1,205			920			1,200			1,200			1,160			676					676
Accrued income and other taxes		959			1,406			2,082			2,862			2,862			3,162			2,759					2,759
Employee benefit obligations		567			571			691			755			755			446			529					529
Other accruals		1,168			1,355			2,625			2,179			2,179			1,959			2,379					2,379
Total Current Liabilities		7,184			8,150			10,449			12,021			12,021			11,624			12,216					12,216
Long-term debt		19,338			18,805			18,748			18,734			18,734			17,586			16,295					16,295
Asset retirement obligations and accrued environmental costs		5,782			5,819			5,721			5,754			5,754			5,815			5,737					5,737
Deferred income taxes		4,982			5,331			5,630			6,179			6,179			6,556			6,694					6,694
Employee benefit obligations		1,530			1,297			1,162			1,153			1,153			1,085			1,080					1,080
Other liabilities and deferred credits		1,722			1,725			1,479			1,414			1,414			1,424			1,469					1,469
Total Liabilities		40,538			41,127			43,189			45,255			45,255			44,090			43,491					43,491
Equity
Common stock issued
Par value		21			21			21			21			21			21			21					21
Capital in excess of par		60,278			60,337			60,431			60,581			60,581			60,907			61,045					61,045
Treasury stock		(47,672	)		(48,278	)		(49,521	)		(50,920	)		(50,920	)		(52,344	)		(54,644	)				(54,644	)
Accumulated other comprehensive loss		(5,080	)		(4,920	)		(5,123	)		(4,950	)		(4,950	)		(4,808	)		(5,313	)				(5,313	)
Retained earnings		35,608			37,116			38,307			40,674			40,674			45,442			49,093					49,093
Total Equity		43,155			44,276			44,115			45,406			45,406			49,218			50,202					50,202
Total Liabilities and Equity		83,693			85,403			87,304			90,661			90,661			93,308			93,693					93,693

	2021															2022
	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)		982			2,091			2,379			2,627			8,079			5,759			5,145					10,904
Depreciation, depletion and amortization		1,886			1,867			1,672			1,783			7,208			1,823			1,810					3,633
Impairments		(3	)		2			(89	)		764			674			2			2					4
Dry hole costs and leasehold impairments		6			1			-			37			44			7			97					104
Accretion on discounted liabilities		62			63			61			56			242			61			61					122
Deferred taxes		203			364			328			451			1,346			373			495					868
Undistributed equity earnings		81			236			(59	)		188			446			220			371					591
Gain on dispositions		(233	)		(59	)		(2	)		(192	)		(486	)		(817	)		(262	)				(1,079	)
Gain on investment in Cenovus Energy		(308	)		(418	)		(17	)		(297	)		(1,040	)		(251	)		-					(251	)
Other		(581	)		(107	)		(178	)		78			(788	)		(152	)		115					(37	)
Net working capital changes		(15	)		211			702			373			1,271			(1,957	)		80					(1,877	)
Net Cash Provided by Operating Activities		2,080			4,251			4,797			5,868			16,996			5,068			7,914					12,982
Cash Flows from Investing Activities
Capital expenditures and investments		(1,200	)		(1,265	)		(1,302	)		(1,557	)		(5,324	)		(3,161	)		(1,968	)				(5,129	)
Working capital changes associated with investing activities		61			(59	)		77			55			134			363			133					496
Acquisition of businesses, net of cash acquired		382			-			-			(8,672	)		(8,290	)		37			-					37
Proceeds from asset dispositions		(17	)		177			632			861			1,653			2,332			619					2,951
Net sales (purchases) of investments		(499	)		1,801			1,544			245			3,091			(263	)		(841	)				(1,104	)
Collection of advances/loans—related parties		52			-			53			-			105			55			-					55
Other		6			80			(472	)		473			87			26			(34	)				(8	)
Net Cash Provided by (Used in) Investing Activities		(1,215	)		734			532			(8,595	)		(8,544	)		(611	)		(2,091	)				(2,702	)
Cash Flows from Financing Activities
Net issuance (repayment) of debt		(26	)		(18	)		(319	)		(142	)		(505	)		(1,067	)		(1,865	)				(2,932	)
Issuance of company common stock		(28	)		3			52			118			145			271			79					350
Repurchase of company common stock		(375	)		(606	)		(1,243	)		(1,399	)		(3,623	)		(1,425	)		(2,300	)				(3,725	)
Dividends paid		(588	)		(583	)		(579	)		(609	)		(2,359	)		(864	)		(988	)				(1,852	)
Other		2			1			3			1			7			(52	)		(4	)				(56	)
Net Cash Used in Financing Activities		(1,015	)		(1,203	)		(2,086	)		(2,031	)		(6,335	)		(3,137	)		(5,078	)				(8,215	)
Effect of Exchange Rate Changes		(2	)		11			(12	)		(31	)		(34	)		21			(258	)				(237	)
Net Change in Cash, Cash Equivalents and Restricted Cash		(152	)		3,793			3,231			(4,789	)		2,083			1,341			487					1,828
Cash, cash equivalents and restricted cash at beginning of period		3,315			3,163			6,956			10,187			3,315			5,398			6,739					5,398
Cash, Cash Equivalents and Restricted Cash at End of Period		3,163			6,956			10,187			5,398			5,398			6,739			7,226					7,226
CAPITAL EXPENDITURES AND INVESTMENTS
Alaska		235			228			235			284			982			253			218					471
Lower 48		718			762			770			879			3,129			1,062			1,285					2,347
Canada		33			35			61			74			203			122			125					247
Europe, Middle East and North Africa		121			136			128			149			534			172			192					364
Asia Pacific		76			72			87			155			390			1,538			126					1,664
Other International		6			12			15			-			33			-			-					-
Corporate and Other		11			20			6			16			53			14			22					36
Total Capital Expenditures and Investments		1,200			1,265			1,302			1,557			5,324			3,161			1,968					5,129

	2021												2022
	1st Qtr			2nd Qtr		3rd Qtr		4th Qtr			YTD		1st Qtr		2nd Qtr		3rd Qtr	4th Qtr	YTD
TOTAL SEGMENTS
Production
Total (MBOED)		1,527			1,588		1,544		1,608			1,567		1,747		1,692				1,720
Crude Oil (MBD)
Consolidated operations		804			836		802		824			816		903		857				880
Equity affiliates		14			13		13		12			13		12		14				13
Total		818			849		815		836			829		915		871				893
Over (under) lifting of crude oil (MBD)		(28	)		27		42		(13	)		7		28		27				27
NGL (MBD)
Consolidated operations		105			120		123		186			134		216		236				227
Equity affiliates		8			8		7		8			8		7		8				7
Total		113			128		130		194			142		223		244				234
Bitumen (MBD)
Consolidated operations		70			68		69		68			69		67		59				63
Equity affiliates		-			-		-		-			-		-		-				-
Total		70			68		69		68			69		67		59				63
Natural Gas (MMCFD)
Consolidated operations		2,074			2,209		2,144		2,009			2,109		2,126		1,872				1,999
Equity affiliates		1,081			1,051		1,033		1,049			1,053		1,127		1,235				1,181
Total		3,155			3,260		3,177		3,058			3,162		3,253		3,107				3,180
Industry Prices
Crude Oil ($/BBL)
WTI		57.84			66.07		70.56		77.19			67.92		94.29		108.41				101.35
WCS		45.32			54.60		56.99		62.58			54.87		79.76		95.71				87.73
Brent dated		60.90			68.83		73.47		79.73			70.73		101.40		113.78				107.59
JCC ($/BBL)		43.77			55.88		67.00		73.13			59.94		80.43		86.09				83.26
Natural Gas ($/MMBTU)
Henry Hub first of month		2.71			2.83		4.02		5.84			3.85		4.96		7.17				6.06
Average Realized Prices
Total ($/BBL)		45.36			50.03		56.92		65.56			54.63		76.99		88.57				82.70
Crude Oil ($/BBL)
Consolidated operations		57.18			65.54		70.39		76.69			67.61		94.79		111.49				102.97
Equity affiliates		59.73			64.10		73.44		81.53			69.45		97.20		111.97				105.20
Total		57.22			65.51		70.43		76.76			67.64		94.82		111.50				103.00
NGL ($/BBL)
Consolidated operations		24.36			25.62		33.28		36.41			31.04		40.95		42.20				41.61
Equity affiliates		48.89			44.12		56.70		67.77			54.16		67.04		72.44				69.99
Total		26.44			26.87		34.79		37.72			32.45		41.80		43.26				42.57
Bitumen ($/BBL)
Consolidated operations		30.78			37.60		41.19		40.74			37.52		65.86		75.42				70.25
Equity affiliates		-			-		-		-			-		-		-				-
Total		30.78			37.60		41.19		40.74			37.52		65.86		75.42				70.25
Natural Gas ($/MCF)
Consolidated operations		4.89			4.25		5.93		9.13			6.00		8.81		10.19				9.46
Equity affiliates		3.54			3.97		5.95		7.80			5.31		8.86		10.08				9.51
Total		4.42			4.16		5.94		8.66			5.77		8.83		10.15				9.48
Exploration Expenses ($ Millions)
Dry holes		6			-		-		28			34		1		87				88
Leasehold impairment		-			1		-		9			10		6		10				16
Total noncash expenses		6			1		-		37			44		7		97				104
Other (G&A, G&G and lease rentals)		78			56		65		101			300		62		46				108
Total exploration expenses		84			57		65		138			344		69		143				212
U.S. exploration expenses		50			35		32		99			216		54		40				94
International exploration expenses		34			22		33		39			128		15		103				118
DD&A ($ Millions)
Alaska		317			262		201		217			997		226		234				460
Lower 48		1,000			1,017		988		1,070			4,075		1,168		1,192				2,360
Canada		126			93		85		82			386		102		98				200
Europe, Middle East and North Africa		219			234		217		216			886		192		157				349
Asia Pacific		211			240		167		170			788		124		118				242
Other International		-			-		-		-			-		-		-				-
Corporate and Other		13			21		14		28			76		11		11				22
Total DD&A		1,886			1,867		1,672		1,783			7,208		1,823		1,810				3,633

	2021										2022
	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		190		184		163		180		178		182		177				180
Lower 48		416		454		457		457		447		538		528				533
Canada		11		9		8		7		8		6		5				6
Norway		80		81		82		80		81		76		56				66
Libya		36		39		35		38		37		37		34				35
Europe, Middle East and North Africa		116		120		117		118		118		113		90				101
China		31		27		27		28		28		30		29				29
Indonesia		2		2		2		2		2		1		-				1
Malaysia		38		40		28		32		35		33		28				30
Asia Pacific		71		69		57		62		65		64		57				60
Total consolidated operations		804		836		802		824		816		903		857				880
Equity affiliates		14		13		13		12		13		12		14				13
Total		818		849		815		836		829		915		871				893
NGL (MBD)
Consolidated operations
Alaska		17		15		13		17		16		18		16				17
Lower 48		79		97		101		162		110		191		214				203
Canada		4		4		4		3		4		3		3				3
Norway		5		4		5		4		4		4		3				4
Europe, Middle East and North Africa		5		4		5		4		4		4		3				4
Total consolidated operations		105		120		123		186		134		216		236				227
Equity affiliates		8		8		7		8		8		7		8				7
Total		113		128		130		194		142		223		244				234
Bitumen (MBD)
Canada		70		68		69		68		69		67		59				63
Total		70		68		69		68		69		67		59				63
Natural Gas (MMCFD)
Consolidated operations
Alaska		8		11		11		33		16		35		34				34
Lower 48		1,319		1,459		1,389		1,195		1,340		1,426		1,411				1,419
Canada		91		84		73		70		80		63		66				65
Norway		295		284		291		323		298		308		284				296
Libya		14		13		12		21		15		23		22				22
Europe, Middle East and North Africa		309		297		303		344		313		331		306				318
Indonesia		290		290		299		296		294		194		-				97
Malaysia		57		68		69		71		66		77		55				66
Asia Pacific		347		358		368		367		360		271		55				163
Total consolidated operations		2,074		2,209		2,144		2,009		2,109		2,126		1,872				1,999
Equity affiliates		1,081		1,051		1,033		1,049		1,053		1,127		1,235				1,181
Total		3,155		3,260		3,177		3,058		3,162		3,253		3,107				3,180
Total (MBOED)
Consolidated operations
Alaska		208		201		178		203		197		206		199				203
Lower 48		715		794		790		818		780		967		977				972
Canada		100		95		93		90		94		86		78				83
Norway		134		132		135		138		135		131		106				119
Libya		39		41		37		41		40		41		38				39
Europe, Middle East and North Africa		173		173		172		179		175		172		144				158
China		31		27		27		28		28		30		29				29
Indonesia		50		50		52		51		51		33		-				17
Malaysia		48		52		40		44		46		46		37				41
Asia Pacific		129		129		119		123		125		109		66				87
Total consolidated operations		1,325		1,392		1,352		1,413		1,371		1,540		1,464				1,503
Equity affiliates		202		196		192		195		196		207		228				217
Total		1,527		1,588		1,544		1,608		1,567		1,747		1,692				1,720

	2021										2022
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr	4th Qtr	YTD
AVERAGE REALIZED PRICES
							��
Crude Oil ($/BBL)
Consolidated operations
Alaska		59.56		67.87		72.55		79.61		69.87		95.54		114.77				105.26
Lower 48**		55.68		64.13		68.59		74.82		66.12		93.55		109.14				101.34
Canada		47.41		56.87		58.99		66.62		56.38		82.13		94.79				88.04
Norway		56.72		66.10		72.36		78.51		68.94		92.18		116.93				102.15
Libya		59.78		66.88		72.57		77.64		69.06		99.92		113.03				105.39
Europe, Middle East and North Africa		57.75		66.34		72.43		78.27		68.97		94.68		115.61				103.21
China		58.27		65.63		74.39		79.61		69.39		105.75		115.00				110.42
Indonesia		53.79		57.16		61.35		73.35		61.92		77.09		-				77.09
Malaysia		62.27		69.77		75.65		80.87		71.59		104.88		119.26				111.89
Asia Pacific		60.36		67.72		74.66		80.05		70.36		104.84		117.14				110.89
Total consolidated operations		57.18		65.54		70.39		76.69		67.61		94.79		111.49				102.97
Equity affiliates		59.73		64.10		73.44		81.53		69.45		97.20		111.97				105.20
Total		57.22		65.51		70.43		76.76		67.64		94.82		111.50				103.00
NGL ($/BBL)
Consolidated operations
Lower 48		23.99		24.62		32.87		35.99		30.63		40.42		42.00				41.26
Canada		25.32		27.14		33.47		39.68		31.18		41.83		44.93				43.44
Norway		34.70		39.49		50.32		57.91		43.97		58.67		68.00				60.49
Europe, Middle East and North Africa		34.70		39.49		50.32		57.91		43.97		58.67		68.00				60.49
Total consolidated operations		24.36		25.62		33.28		36.41		31.04		40.95		42.20				41.61
Equity affiliates		48.89		44.12		56.70		67.77		54.16		67.04		72.44				69.99
Total		26.44		26.87		34.79		37.72		32.45		41.80		43.26				42.57
Bitumen ($/BBL)
Canada*		30.78		37.60		41.19		40.74		37.52		65.86		75.42				70.25
Total		30.78		37.60		41.19		40.74		37.52		65.86		75.42				70.25
Natural Gas ($/MCF)
Consolidated operations
Alaska		2.23		4.53		2.63		2.22		2.81		3.92		3.34				3.66
Lower 48**		4.56		3.27		4.63		5.25		4.38		4.63		6.85				5.74
Canada		2.37		2.26		2.45		3.16		2.54		3.25		4.47				3.88
Norway		6.15		7.36		12.28		27.06		13.75		30.93		30.06				30.52
Libya		2.71		3.02		4.17		4.58		3.73		5.13		5.61				5.36
Europe, Middle East and North Africa		5.99		7.17		11.96		25.71		13.27		29.18		28.32				28.77
Indonesia		6.57		7.19		7.49		8.23		7.38		8.26		-				8.26
Malaysia		2.35		2.61		3.02		3.59		2.93		3.85		4.17				3.98
Asia Pacific		5.88		6.32		6.66		7.33		6.56		7.01		4.17				6.53
Total consolidated operations		4.89		4.25		5.93		9.13		6.00		8.81		10.19				9.46
Equity affiliates		3.54		3.97		5.95		7.80		5.31		8.86		10.08				9.51
Total		4.42		4.16		5.94		8.66		5.77		8.83		10.15				9.48
*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.
**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.

	2021															2022
	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)		(121	)		66			(213	)		58			(210	)		546			(349	)				197
Detail of Earnings (Loss) ($ Millions)
Net interest expense		(270	)		(181	)		(176	)		(174	)		(801	)		(218	)		(164	)				(382	)
Corporate G&A expenses		(129	)		(65	)		(57	)		(66	)		(317	)		(79	)		(16	)				(95	)
Technology*		41			(4	)		(6	)		(6	)		25			58			(9	)				49
Other		237			316			26			304			883			785			(160	)				625
Total		(121	)		66			(213	)		58			(210	)		546			(349	)				197
*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		(241	)		(235	)		(236	)		(234	)		(946	)		(227	)		(224	)				(451	)
Capitalized interest		15			15			17			15			62			10			13					23
Interest revenue		6			4			5			7			22			6			29					35
Total		(220	)		(216	)		(214	)		(212	)		(862	)		(211	)		(182	)				(393	)
Debt
Total debt ($ Millions)		20,027			20,010			19,668			19,934			19,934			18,746			16,971					16,971
Debt-to-capital ratio (%)		32	%		31	%		31	%		31	%		31	%		28	%		25	%				25	%
Equity ($ Millions)		43,155			44,276			44,115			45,406			45,406			49,218			50,202					50,202

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