ConocoPhillips (COP) 10-Q 4 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Document and Entity Information [Abstract]
Entity Registrant Name	CONOCOPHILLIPS
Entity Central Index Key	1,163,165
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	1,233,458,569
Trading Symbol	COP

Consolidated Income Statement

Consolidated Income Statement - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues and Other Income
Sales and other operating revenues		$ 8,293	$ 13,821	$ 16,009	$ 29,236
Equity in earnings of affiliates		258	672	463	1,244
Gain on Dispositions		52	7	104	16
Other income		57	201	86	253
Total Revenues and Other Income		8,660	14,701	16,662	30,749
Costs and Expenses
Purchased commodities		3,230	5,495	6,467	12,622
Production and operating expenses		1,798	2,030	3,600	3,925
Selling, general and administrative expenses		218	218	377	400
Exploration expenses		549	517	1,031	813
Depreciation, depletion and amortization		2,329	2,070	4,460	3,962
Impairments		78	17	94	18
Taxes other than Income Taxes		225	612	449	1,263
Accretion on discounted liabilities		122	120	243	237
Interest and debt expense		210	155	412	326
Foreign currency transaction (gains) losses		(8)	7	(24)	25
Total Costs and Expenses		8,751	11,241	17,109	23,591
Income (loss) from continuing operations before income taxes		(91)	3,460	(447)	7,158
Provision (benefit) for income taxes		73	1,395	(569)	2,976
Income (Loss) From Continuing Operations		(164)	2,065	122	4,182
Income from discontinued operations	[1]		33		53
Net income (loss)		(164)	2,098	122	4,235
Less: net income attributable to noncontrolling interests		(15)	(17)	(29)	(31)
Net Income (Loss) Attributable to ConocoPhillips		(179)	2,081	93	4,204
Amounts Attributable to ConocoPhillips Common Shareholders:
Income (loss) from continuing operations		(179)	2,048	93	4,151
Income from discontinued operations		0	33	0	53
Net Income (Loss)		$ (179)	$ 2,081	$ 93	$ 4,204
Earnings Per Share, Basic [Abstract]
Continuing operations		$ (0.15)	$ 1.65	$ 0.07	$ 3.36
Discontinued operations		0	0.03	0	0.04
Net Income (Loss) Attributable to ConocoPhillips Per Share of Common Stock		(0.15)	1.68	0.07	3.4
Earnings Per Share, Diluted [Abstract]
Continuing operations		(0.15)	1.64	0.07	3.34
Discontinued operations		0	0.03	0	0.04
Net Income (Loss) Attributable to ConocoPhillips Per Share of Common Stock		(0.15)	1.67	0.07	3.38
Dividends Paid Per Share of Common Stock (dollars)		$ 0.73	$ 0.69	$ 1.46	$ 1.38
Average Common Shares Outstanding (in thousands)
Basic		1,241,026	1,236,057	1,240,909	1,235,515
Diluted		1,241,026	1,245,155	1,246,130	1,245,211
[1]	*Net of provision (benefit) for income taxes on discontinued operations of: $0,$-10,$0,$22See Notes to Consolidated Financial Statements.

Consolidated Income Statement (

Consolidated Income Statement (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated Income Statement [Abstract]
Net of provision for income taxes on discontinued operations	$ 0	$ (10)	$ 0	$ 22

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated Statement of Comprehensive Income [Abstract]
Net income (loss)		$ (164)	$ 2,098	$ 122	$ 4,235
Defined benefit plans
Prior service cost arising during the period		140		140
Reclassification adjustment for amortization of prior service cost (credit) included in net income		(3)	(1)	(4)	(3)
Net actuarial gain (loss) arising during the period		15	0	15	0
Reclassification adjustment for amortization of net actuarial losses included in net income		102	33	152	66
Nonsponsored plans	[1]	0	(1)	0	5
Income taxes on defined benefit plans		(93)	(12)	(110)	(23)
Defined benefit plans, net of tax		161	19	193	45
Foreign currency translation adjustments		796	668	(1,949)	446
Reclassification adjustment for loss included in net income		0	0		0
Income taxes on foreign currency translation adjustments		(9)	9	17	5
Foreign currency translation adjustments, net of tax		787	677	(1,932)	451
Other Comprehensive Income (Loss), Net of Tax		948	696	(1,739)	496
Comprehensive Income (Loss)		784	2,794	(1,617)	4,731
Less: comprehensive income attributable to noncontrolling interests		(15)	(17)	(29)	(31)
Comprehensive Income (Loss) Attributable to ConocoPhillips		$ 769	$ 2,777	$ (1,646)	$ 4,700
[1]	*Plans for which ConocoPhillips is not the primary obligor—primarily those administered by equity affiliates.See Notes to Consolidated Financial Statements.

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 3,813	$ 5,062
Accounts and notes receivable (net of allowance of $7 million in 2015 and $5 million in 2014)	5,044	6,675
Accounts and notes receivable-related parties	135	132
Inventories	1,277	1,331
Prepaid expenses and other current assets	1,675	1,868
Total Current Assets	11,944	15,068
Investments and long-term receiavables	23,902	24,335
Loans and advances-related parties	750	804
Net properties, plants and equipment (net of accumulated depreciation, depletion and amortization of $73,854 million in 2015 and $70,786 million in 2014)	74,387	75,444
Other assets	1,020	888
Total Assets	112,003	116,539
Liabilities
Accounts payable	5,833	7,982
Accounts payable-related parties	36	44
Short-term debt	138	182
Accrued income and other taxes	880	1,051
Employee benefit obligations	620	878
Other accruals	1,227	1,400
Total Current Liabilities	8,734	11,537
Long-term debt	24,787	22,383
Asset retirement obligations and accrued environmental costs	10,567	10,647
Deferred income taxes	14,373	15,070
Employee benefit obligations	2,849	2,964
Other liabilities and deferred credits	1,724	1,665
Total Liabilities	63,034	64,266
Equity
Common stock (2,500,000,000 shares authorized at $.01 par value)	18	18
Capital in excess of par	46,244	46,071
Treasury stock (at cost: 2015-542,230,673 shares; 2014-542,230,673 shares)	(36,780)	(36,780)
Accumulated other comprehensive income (loss)	(3,641)	(1,902)
Retained earnings	42,779	44,504
Total Common Stockholders' Equity	48,620	51,911
Noncontrolling interests	349	362
Total Equity	48,969	52,273
Total Liabilities and Equity	$ 112,003	$ 116,539

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Consolidated Balance Sheet [Abstract]
Allowance for accounts and notes receivable	$ 7	$ 5
Accumulated depreciation, depletion and amortization	$ 73,854	$ 70,786
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	1,775,689,242	1,773,583,368
Treasury stock, shares	542,230,673	542,230,673

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Cash Flows From Operating Activities
Net income (loss)		$ 122	$ 4,235
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, depletion and amortization		4,460	3,962
Impairments		94	18
Dry hole costs and leasehold impairments		713	403	[1]
Accretion on discounted liabilities		243	237
Deferred taxes		(602)	633	[1]
Undistributed equity earnings		(41)	681	[1]
Gain on dispositions		(104)	(16)
Income from discontinued operations	[2]		(53)
Other		(454)	(192)	[1]
Working capital adjustments
Decrease (increase) in accounts and notes receivable		1,419	80	[1]
Decrease (increase) in inventories		42	(103)	[1]
Decrease (increase) in prepaid expenses and other current assets		153	(238)	[1]
Increase (decrease) in accounts payable		(1,358)	(13)	[1]
Increase (decrease) in taxes and other accruals		(645)	123	[1]
Net cash provided by continuing operating activities		4,042	9,757	[1]
Net cash provided by discontinued operations		0	130	[1]
Net Cash Provided by Operating Activities		4,042	9,887	[1]
Cash Flows From Investing Activities
Capital expenditures and investments		(5,739)	(8,141)	[1]
Working capital changes associated with investing activities		(678)	84	[1]
Proceeds from asset dispositions		294	63	[1]
Net sales (purchases) of short-term investments	[1]		(8)
Collection of advances/loans-related parties		52	77	[1]
Other		291	96	[1]
Net cash used in continuing investing activities		(5,780)	(7,829)	[1]
Net cash used in discontinued operations		0	(63)	[1]
Net Cash Used in Investing Activities		(5,780)	(7,892)	[1]
Cash Flows From Financing Activities
Issuance of debt		2,498
Repayment of debt		(62)	(450)	[1]
Issuance of company common stock		(46)	46	[1]
Dividends paid		(1,819)	(1,711)	[1]
Other		(35)	(28)	[1]
Net cash provided by (used in) continuing financing activities		536	(2,143)	[1]
Net Cash Provided by (Used in) Financing Activities		536	(2,143)	[1]
Effect of Exchange Rate Changes on Cash and Cash Equivalents		(47)	44	[1]
Net Change in Cash and Cash Equivalents		(1,249)	(104)	[1]
Cash and cash equivalents at beginning of period		5,062	6,246	[1]
Cash and Cash Equivalents at End of Period		$ 3,813	$ 6,142	[1]
[1]	*Certain amounts have been reclassified to conform to current-period presentation. See Note 14–Cash Flow Information, in the Notes to the Consolidated Financial Statements.See Notes to Consolidated Financial Statements.
[2]	*Net of provision (benefit) for income taxes on discontinued operations of: $0,$-10,$0,$22See Notes to Consolidated Financial Statements.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Basis of Presentation [Abstract]
Basis of Presentation	Note 1 —Basis of Presentation The interim-period financial information presented in the financial statements included in this report is unaudited and, in the opinion of management, includes all known accruals and adjustments necessary for a fair presentation of the consolidated financial position of ConocoPhillips and its results of operations and cash flows for such periods. All such adjustments are of a normal and recurring nature unless otherwise disclosed. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and notes included in our 2014 Annual Report on Form 10-K. The results of operations for our former Nigeria business have been classified as discontinued operations for all periods presented. Unless indicated otherwise, the information in the Notes to Consolidated Financial Statements relates to our continuing operations.

Variable Interest Entities (VIE

Variable Interest Entities (VIEs)	6 Months Ended
	Jun. 30, 2015
Variable Interest Entities VIEs [Abstract]
Variable Interest Entities (VIEs)	Note 2 —Variable Interest Entities ( VIEs ) We hold variable interests in VIEs that have not been consolidated because we are not considered the primary beneficiary. Information on our significant VIE follows: Australia Pacific LNG Pty Ltd (APLNG) APLNG is considered a VIE, as it has entered into certain contractual arrangements that provide it with additional forms of subordinated financial support. We are not the primary beneficiary of APLNG because we share with Origin Energy and China Petrochem ical Corporation (Sinopec) the power to direct the key activities of APLNG that most significantly impact its economic performance, which involve activities related to the production and commercialization of coalbed methane, as well as liquefied natural gas ( LNG) processing and e xport marketing. As a result, we do not cons olidate APLNG, and it is accounted for as an equity method investment. As of June 30, 2015 , we have not provided any financial support to APLNG other than amounts previously contractually required. Unless we elect otherwise, we have no requirement to provide liquidity or purchase the assets of APLNG. See Note 4 —Investments, Loans and Long-Term Receivables, and Note 9 —Guarantees, for additional information.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventories [Abstract]
Inventories	Note 3—Inventories Inventories consisted of the following: Millions of Dollars June 30 December 31 2015 2014 Crude oil and natural gas $ 474 538 Materials, supplies and other 803 793 $ 1,277 1,331 Inventories valued on the last-in, first-out (LIFO) basis totaled $ 351 million and $ 440 million at June 30, 2015 and December 31, 2014 , respectively . The estimated excess of current replacement cost over LIFO cost of inventories was approximately $ 44 million and $ 6 million at June 30, 2015 and December 31, 2014 , respectively .

Investments, Loans and Long-Ter

Investments, Loans and Long-Term Receivables	6 Months Ended
	Jun. 30, 2015
Investments, Loans and Long-Term Receivables [Abstract]
Investments, Loans and Long-Term Receivables	Note 4 —Investments, Loans and Long-Term Receivables APLNG APLNG’s $ 8.5 billion project finance facility consists of financing agreements executed by APLNG with the Export-Import Bank of the United States for approximately $ 2.9 billion, the Export-Import Bank of China for approximately $ 2.7 billion, and a syndicate of Australian and international commercial banks for approximately $ 2.9 billion. At June 30, 2015 , $ 8.3 billion had been drawn from the facility. In connection with the execution of the project financing, we provided a completion guarantee for our pro-rata share of the project finance facility until the project achieves financial completion. See Note 9 — Guarantees, for addi tional information. APLNG is considered a VIE, as it has entered into certain contractual arrangements that provide it with additional forms of subordinated financial support. See Note 2 — Variable Interest Entities (VIEs), for additional information. At June 30, 2015 , the book value of our equity method investment in APLNG was $ 12,105 million, net of a $ 530 million reduction due to cumulative translation effects. The balance is included in the “Investments and long-term rec eivables” line on our consolidated balance sheet. FCCL At June 30, 2015 , the book value of our equity method investment in FCCL was $ 8,979 million, net of a $ 1,004 million reduction due to cumulative translation effects. The balance is included in the “Investments and long-term receivables” line on our consolidated balance sheet. In the first quarter of 2014, we received a $ 1.3 billion distribution from FCCL, which is included in the “Undistributed equity earnings” line on our consolidated statement of cash flows. Loans and Long-Term Receivables As part of our normal ongoing business operations and consistent with industry practice, we enter into numerous agreements with other parties to pursue business opportunities. Included in such activity are loans made to certain affiliated and non-affiliated companies. At June 30, 2015 , significant loans to affiliated companies included $ 857 million in project financing to Qatar Liquefied Gas Company Limited (3) (QG3). The long- term portion of these loans is included in the “Loans and advances—related parties” line on our consolidated balance sheet, while the short-term portion is in “Accounts and notes receivable—related parties.”

Suspended Wells and Wells in Pr

Suspended Wells and Wells in Progress	6 Months Ended
	Jun. 30, 2015
Suspended Wells [Abstract]
Suspended Wells	Note 5 —Suspended Wells and Unproved Property Impairments The capitalized cost of suspended wells at June 30, 2015 , was $ 1,423 million, an increase of $ 124 million from $ 1,299 million at year-end 2014 . No suspended wells were charged to dry hole expense during the first six months of 2015 relating to exploratory well costs capitalized for a period greater than one year as of December 31, 2014 . In the second quarter of 2015, we decided not to pursue further evaluation of our Lebork , Damnica and Karwia concessions in Poland and Block 37 lease in Angola. Accordingly, we recorded pre-tax impairments of $ 93 million and $ 116 million, respectively, for the associat ed carrying value of capitalized undeveloped leasehold cost. The impairments are included in the “Exploration expenses” line on our consolidated income statement.

Impairments

Impairments	6 Months Ended
	Jun. 30, 2015
Impairment Of Long Lived Assets [Abstract]
Impairments	Note 6—Impairments During the three- and six-month periods ended June 30, 2015 and 2014, we recognized before-tax impairment charges within the following segments: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Alaska $ 7 - 7 - Lower 48 - 17 - 17 Europe 71 - 87 - Corporate and Other - - - 1 $ 78 17 94 18 The three- and six-month periods of 2015 included impairments in our Europe segment of $71 million, primarily as a result of lower natural gas prices. In addition, during the three-month period ended June 30, 2015, we recognized $209 million of expense in our Other International segment related to impairment of individually significant unproved properties. These unproved property impairments, included in the “Exploration expenses” line on our consolidated income st atement, are further discussed in Note 5 —Suspended Wells and Unproved Property Impairments .

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt [Abstract]
Debt	Note 7 —Debt We have two commercial paper programs supported by our $ 7.0 billion revolving credit facility: the ConocoPhillips $ 6.1 billion program, primarily a funding source for short-term working capital needs, and the ConocoPhillips Qatar Funding Ltd. $ 900 million program, which is used to fund commitments relating to QG3. Commercial paper maturities are generally limited to 90 days. At June 30, 2015 and December 31, 2014 , we had no direct outstanding borrowings under the revolving credit facility, with no letters of credit as of June 30, 2015 or December 31, 2014 . Under the ConocoPhillips Qatar Funding Ltd. commercial paper program, $ 806 million of commercial paper was outstanding at June 30, 2015 , compared with $ 860 million at December 31, 2014 . Since we had $ 806 million of commercial paper outstanding and had issued n o letters of credit, we had access to $ 6.2 billion in borrowing capacity under our revolving credit facility at June 30, 2015 . At June 30, 2015 , we classified $ 750 million of short-term debt as long-term debt, based on our ability and intent to refinance the obligation on a long-term basis under our revolving credit facility. In May 2015, we issued notes consisting of: The $ 750 million of 1.50 % Notes due 2018. The $ 250 million of Floating Rate Note s due 2018 bearing interest at three-month LIBOR, plus 0.33% . The $ 500 million of 2.20 % Notes due 2020. The $ 500 million of Floating Rate Notes due 2022 bearing interest at three-month LIBOR, plus 0.90% . The $ 500 million of 3.35 % Notes due 2025. The net proceeds were used for general corporate purposes .

Noncontrolling Interests

Noncontrolling Interests	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interests [Abstract]
Noncontrolling Interests	Note 8—Noncontrolling Interests Activity attributable to common stockholders’ equity and noncontrolling interests for the first six months of 2015 and 2014 was as follows: Millions of Dollars 2015 2014 Common Stockholders’ Equity Non-Controlling Interest Total Equity Common Stockholders’ Equity Non-Controlling Interest Total Equity Balance at January 1 $ 51,911 362 52,273 52,090 402 52,492 Net income 93 29 122 4,204 31 4,235 Dividends (1,819) - (1,819) (1,711) - (1,711) Distributions to noncontrolling interests - (43) (43) - (62) (62) Other changes, net* (1,565) 1 (1,564) 732 - 732 Balance at June 30 $ 48,620 349 48,969 55,315 371 55,686 *Includes components of other comprehensive income, which are disclosed separately in the Consolidated Statement of Comprehensive Income.

Guarantees

Guarantees	6 Months Ended
	Jun. 30, 2015
Guarantees [Abstract]
Guarantees	Note 9 —Guarantees At June 30, 2015 , we were liable for certain contingent obligations under various contractual arrangements as described below. We recognize a liability, at inception, for the fair value of our obligation as a guarantor for newly issued or modified guarantees. Unless the carrying amount of the liability is noted below, we have not recognized a liability either because the guarantees were issued prior to December 31, 2002, or because the fair value of the obligation is immaterial. In addition, unless otherwise stated, we are not currently performing with any significance under the guarantee and expect future performance to be either immaterial or have only a remote chance of occurrence. APLNG Guarantees At June 30, 2015 , we had out standing multiple guarantees in connection with our 37.5 percent ownership interest in APLNG. The following is a description of the guarantees with values calculated utilizing June 2015 exchange rates: We have guaranteed APLNG’s p erformance with regard to a construction contract executed in connection with APLNG’s issuance of the Train 1 and Train 2 Notices to Proceed. We estimate the remaining term of this guarantee is two years . Our maximum potential amount of future pay ments related to this guarantee is approximately $ 100 million and would become payable if APLNG cancels the applicable construction contract and does not perform with respect to the amounts owed to the contractor. We have issu ed a construction completion guarantee related to the third-party project financing secured by APLNG. Our maximum potential amount of future payments under the guarantee is estimated to be $ 3.2 billion, which could be payable if the full debt financing capacity is utilized and completion of the project is not achieved. Our guarantee of the project financing will be released upon meeting certain completion tests with milestones, which we estimate should occur beginning in 2016. Our maximum exposure at June 30, 2015 , is $ 3.1 billion based upon our pro-rata share of the facility used at that date. At June 30, 2015 , the carrying value of this guarantee is approximately $ 114 million. In conjunct ion with our original purchase of an ownership interest in APLNG from Origin Energy in October 2008, we agreed to guarantee an existing obligation of APLNG to deliver natural gas under several sales agreements with remaining terms of 1 to 27 years . Our maximum potential amount of future payments, or cost of volume delivery, under these guarantees is estimated to be $ 1.2 billion ($ 2.1 billion in the event of intentional or reckless breach), and would become payable if APLNG fails to meet its obligations under these agreements and the obligations cannot otherwise be mitigated. Future payments are considered unlikely, as the payments, or cost of volume delivery, would only be triggered if APLNG does not have enough natural gas to meet these sales commitments and if the co-venturers do not make necessary equity contributions into APLNG. We have guaranteed the performance of APLNG with regard to certain other contracts executed in connection with the pr oject’s continued development. The guarantees have remaining terms of up to 30 years or the life of the venture . Our maximum potential amount of future payments related to these guarantees is approximately $ 170 million and would become payable if APLNG do es not perform. Other Guarantees We have other guarantees with maximum future potential payment amounts totaling approximately $ 370 million, which consist primarily of guarantees of the residual value of leased corporate aircraft, a guarantee for our portion of a joint venture’s debt obligations, a guarantee to fund the short-term cash liquidity deficit of a joint venture, and a guarantee of minimum charter revenue for an LNG vessel. These guarantees have remaining terms of up to nine years or the life of the venture and would become payable if, upon sale, certain asset values are lower than guaranteed amounts, business conditions decline at guaranteed entities, or as a result of non-performance of contractual terms by guaranteed parties. Indemnifications Over the years, we have entered into agreements to sell ownership interests in certain corporations, joint ventures and assets that gave rise to qualifying indemnifications. These agreements include indemnifications for taxes, environmental liabilities, employee claims and litigation. The terms of these indemnifications vary greatly. The majority of these indemnifications are related to environmental issues, the term is generally indefinite and the maximum amount of future payments is generally unlimited. The carrying amount recorded for these indemnifications at June 30, 2015 , was approximately $ 90 million. We amortize the indemnification liability over the relevant time period, if one exists, based on the facts and circumstances surround ing each type of indemnity. In cases where the indemnification term is indefinite, we will reverse the liability when we have information the liability is essentially relieved or amortize the liability over an appropriate time period as the fair value of our indemnification exposure declines. Although it is reasonably possible future payments may exceed amounts recorded, due to the nature of the indemnifications, it is not possible to make a reasonable estimate of the maximum potential amount of future pa yments. Included in the recorded carrying amount at June 30, 2015 , were approximately $ 40 million of environmental accruals for known contamination that are included in the “Asset retirement obligations and accrued environmental costs” line on our consolidated balance sheet. For additional information about environmental liabilities, see Note 10 —Contingencies and Commitments. On April 30, 2012, the separation of our Downstream businesses was completed, creating two independent energy companies: ConocoPhillips and Phillips 66. In connection with the separation, we entered into an Indemnification and Release Agreement, which provides for cross-indemnities between Phillips 66 and us and established procedures for handling claims subject to indemnification and related matters. We evaluated the impact of the indemnifications given and the Phillips 66 indemnifications received as of the separation date and concluded those fair values were immaterial. On March 1, 2015, a supplier to one of the refineries that was included in Phillips 66 as part of the separation of our Downstream businesses formally registered Phillips 66 as a party to the supply agreement, thereby triggering a guarantee we provided at the time of separation. Our maximum potential liability for future payments under this guarantee, which would become payable if Phillips 66 does not perform its contractual obligations under the supply agreement, is approximately $ 1.7 billion. At June 30, 2015, the car rying value of this guarantee is approximately $ 100 million and the remaining term is nine years . Because Phillips 66 has indemnified us for losses incurred under this guarantee, we have recorded an indemnification asset from Phillips 66 o f approximately $ 100 million. The recorded indemnification asset amount represents the estimated fair value of the guarantee; however, if we are required to perform under the guarantee, we would expect to recover from Phillips 66 any amount s in excess of that value, provided Phillips 66 is a going concern.

Contingencies and Commitments

Contingencies and Commitments	6 Months Ended
	Jun. 30, 2015
Contingencies and Commitments [Abstract]
Contingencies and Commitments	Note 10 —Contingencies and Commitments A number of lawsuits involving a variety of claims arising in the ordinary course of business have been made against ConocoPhillips. We also may be required to remove or mitigate the effects on the environment of the placement, storage, disposal or release of certain chemical, mineral and petroleum substances at various active and inactive sites. We regularly assess the need for accounting recognition or disclosure of these contingencies. In the ca se of all known contingencies (other than those related to income taxes), we accrue a liability when the loss is probable and the amount is reasonably estimable. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. We do not reduce these liabilities for potential insurance or third-party recoveries. If applicable, we accrue receivables for probable insurance or other third-party recoveries. With respect to income-tax-related contingencies, we use a cumulative probability-weighted loss accrual in cases where sustaining a tax position is less than certain. Based on currently available information, we believe it is remote that future costs rela ted to known contingent liability exposures will exceed current accruals by an amount that would have a material adverse impact on our consolidated financial statements. As we learn new facts concerning contingencies, we reassess our position both with re spect to accrued liabilities and other potential exposures. Estimates particularly sensitive to future changes include contingent liabilities recorded for environmental remediation, tax and legal matters. Estimated future environmental remediation costs are subject to change due to such factors as the uncertain magnitude of cleanup costs, the unknown time and extent of such remedial actions that may be required, and the determination of our liability in proportion to that of other responsible parties. Es timated future costs related to tax and legal matters are subject to change as events evolve and as additional information becomes available during the administrative and litigation processes. Environmental We are subject to international, federal, state and local environmental laws and regulations. When we prepare our consolidated financial statements, we record accruals for environmental liabilities based on management’s best estimates, using all information that is available at the time. We measure estimates and base liabilities on currently available facts, existing technology, and presently enacted laws and regulations, taking into account stakeholder and business considerations. Whe n measuring environmental liabilities, we also consider our prior experience in remediation of contaminated sites, other companies’ cleanup experience, and data released by the U.S. Environmental Protection Agency (EPA) or other organizations. We consider unasserted claims in our determination of environmental liabilities, and we accrue them in the period they are both probable and reasonably estimable. Although liability of those potentially responsible for environmental remediation costs is generally jo int and several for federal sites and frequently so for other sites, we are usually only one of many companies cited at a particular site. Due to the joint and several liabilities, we could be responsible for all cleanup costs related to any site at which we have been designated as a potentially responsible party. We have been successful to date in sharing cleanup costs with other financially sound companies. Many of the sites at which we are potentially responsible are still under investigation by the E PA or the agency concerned. Prior to actual cleanup, those potentially responsible normally assess the site conditions, apportion responsibility and determine the appropriate remediation. In some instances, we may have no liability or may attain a settle ment of liability. Where it appears that other potentially responsible parties may be financially unable to bear their proportional share, we consider this inability in estimating our potential liability, and we adjust our accruals accordingly. As a resu lt of various acquisitions in the past, we assumed certain environmental obligations. Some of these environmental obligations are mitigated by indemnifications made by others for our benefit and some of the indemnifications are subject to dollar limits an d time limits. We are currently participating in environmental assessments and cleanups at numerous federal Superfund and comparable state and international sites. After an assessment of environmental exposures for cleanup and other costs, we make accrua ls on an undiscounted basis (except those acquired in a purchase business combination, which we record on a discounted basis) for planned investigation and remediation activities for sites where it is probable future costs will be incurred and these costs can be reasonably estimated. At June 30, 2015 , our balance sheet included a total environmental accrual of $ 306 million, compared with $ 344 million at December 31, 2014 , for remediation activities in the United States and Canada. We expect to incur a substantial amount of these expenditures within the next 30 years . We have not reduced these accruals for possible insurance recoveries. In the future, we may be involved in additional environmental assessmen ts, cleanups and proceedings. Legal Proceedings We are subject to various lawsuits and claims including but not limited to matters involving oil and gas royalty and severance tax payments, gas measurement and valuation methods, contract disputes, environmental damages, personal injury, and property damage. Our primary exposures for such matters relate to alleged royalty underpayments on certain federal, state and privately owned properties and claims of alleged environmental contamination from historic operations. We will conti nue to defend ourselves vigorously in these matters. Our legal organization applies its knowledge, experience and professional judgment to the specific characteristics of our cases, employing a litigation management process to manage and monitor the legal proceedings against us. Our process facilitates the early evaluation and quantification of potential exposures in individual cases. This process also enables us to track those cases that have been scheduled for trial and/or mediation. Based on professi onal judgment and experience in using these litigation management tools and available information about current developments in all our cases, our legal organization regularly assesses the adequacy of current accruals and determines if adjustment of existi ng accruals, or establishment of new accruals, is required. Other Contingencies We have contingent liabilities resulting from throughput agreements with pipeline and processing companies not associated with financing arrangements. Under these agreements, we may be required to provide any such company with additional funds through advances and penalties for fees related to throughput capacity not utilized. In addition, at June 30, 2015 , we had performance obligations secured by letters of credit of $ 400 million (issued as direct bank letters of credit ) related to various purchase commitments for materials, supplies, commercial activities and services incident to the ordinary conduct of business. In 2007, we announced we had been unable to reach agreement with respect to our migration to an empresa mi xta structure mandated by the Venezuelan government’s Nationalization Decree. As a result, Venezuela’s national oil company, Petróleos de Venezuela S.A. (PDVSA), or its affiliates, directly assumed control over ConocoPhillips’ interests in the Petrozuata and Hamaca heavy oil ventures and the offshore Corocoro development project. In response to this expropriation, we filed a request for international arbitration on November 2, 2007, with the World Bank’s International Centre for Settlement of Investment D isputes (ICSID). An arbitration hearing was held before an ICSID tribunal during the summer of 2010. On September 3, 2013, an ICSID arbitration tribunal held that Venezuela unlawfully expropriated ConocoPhillips’ significant oil investments in June 2007. A separate arbitration phase is currently proceeding to determine the damages owed to ConocoPhillips for Venezuela’s actions. On October 10, 2014, we filed a separate arbitration under the rules of the International Chamber of Commerce against PDVSA for contractual compensation related to the Petrozuata and Hamaca heavy crude oil projects. In 2008, Burlington Resources, Inc., a wholly owned subsidiary of ConocoPhillips, initiated arbitration before ICSID against The Republic of Ecuador, as a result of t he newly enacted Windfall Profits Tax Law and government-mandated renegotiation of our production sharing contracts. Despite a restraining order issued by the ICSID tribunal, Ecuador confiscated the crude oil production of Burlington and its co- venturer a nd sold the seized crude oil. In 2009, Ecuador took over operations in Blocks 7 and 21, fully expropriating our assets. In June 2010, the ICSID tribunal concluded it has jurisdiction to hear the expropriation claim. On April 24, 2012, Ecuador filed supp lemental counterclaims asserting environmental damages, which we believe are not material. The ICSID tribunal issued a decision on liability on December 14, 2012, in favor of Burlington, finding that Ecuador's seizure of Blocks 7 and 21 was an unlawful ex propriation in violation of the Ecuador-U.S. Bilateral Investment Treaty. An additional arbitration phase is now proceeding to determine the damages owed to ConocoPhillips for Ecuador’s actions and to address Ecuador’s counterclaims. ConocoPhillips serve d a Notice of Arbitration on the Timor-Leste Minister of Finance in October 2012 for outstanding disputes related to a series of tax assessments. As of June 30, 2015 , ConocoPhillips has paid, under protest, tax assessments totaling approximately $ 237 million, which are primarily recorded in the “Investments and long-term receivables” line on our consolidated balance sheet . The arbitration hearing was conducted in Singapore in June 2014 under the United Nations Commission on International Trade Law s (UNCITRAL) arbitration rules, pursuant to the terms of the Tax Stability Agreement with the Timor-Leste government. Post-hearing briefs from both parties were filed in August 2014. We are now awaiting the Tribunal’s decision. Future impacts on our bus iness are not known at this time.

Derivative and Financial Instru

Derivative and Financial Instruments	6 Months Ended
	Jun. 30, 2015
Derivative and Financial Instruments [Abstract]
Derivative and Financial Instruments	Note 11 —Derivative and Financial Instruments Derivative Instruments We use futures, forwards, swaps and options in various markets to meet our customer needs and capture market opportunities. Our commodity business primarily consists of natural gas, crude oil, bitumen, LNG and natural gas liquids. Our derivative instru ments are held at fair value on our consolidated balance sheet. Where these balances have the right of setoff, they are presented on a net basis. Related cash flows are recorded as operating activities on the consolidated statement of cash flows. On our consolidated income statement, realized and unrealized gains and losses are recognized either on a gross basis if directly related to our physical business or a net basis if held for trading. Gains and losses related to contracts that meet and are design ated with the normal purchase normal sale exception are recognized upon settlement. We generally apply this exception to eligible crude contracts. We do not use hedge accounting for our commodity derivatives. The following table presents the gross fair values of our commodity derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet: Millions of Dollars June 30 December 31 2015 2014 Assets Prepaid expenses and other current assets $ 2,386 4,500 Other assets 112 157 Liabilities Other accruals 2,398 4,426 Other liabilities and deferred credits 101 144 The gains (losses) from commodity derivatives incurred, and the line items where they appear on our consolidated income statement were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Sales and other operating revenues $ 44 184 28 421 Other income 2 1 1 2 Purchased commodities (47) (163) (3) (384) The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts: Open Position Long/(Short) June 30 December 31 2015 2014 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price (23) (11) Basis (13) 18 Foreign Currency Exchange Derivatives We have foreign currency exchange rate risk resulting from international operations. Our foreign currency exchange derivative activity primarily consists of transactions designed to mitigate our cash-related and foreign currency exchange rate exposures, such as firm commitments for capital programs or local currency tax payments, dividends, and cash returns from net investments in foreign affiliates. We do not elect hedge accounting on our foreign currency exchan ge derivatives. The following table presents the gross fair values of our foreign currency exchange derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet: Millions of Dollars June 30 December 31 2015 2014 Assets Prepaid expenses and other current assets $ 25 1 Liabilities Other accruals 2 1 The gains from foreign currency exchange derivatives incurred, and the line item where they appear on our consolidated income statement were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Foreign currency transaction gains $ (37) (7) (13) (7) We had the following net notional position of outstanding foreign currency exchange derivatives: In Millions Notional Currency June 30 December 31 2015 2014 Sell U.S. dollar, buy other currencies* USD 55 7 Buy U.S. dollar, sell other currencies** USD 20 44 Sell British pound, buy euro GBP 6 - Buy British pound, sell other currencies*** GBP 309 20 *Primarily Canadian dollar and British pound. **Primarily Canadian dollar and Norwegian krone. ***Primarily Canadian dollar and euro. Financial Instruments We have certain financial instruments on our consolidated balance sheet related to interest-bearing time deposits and commercial paper. These held-to- maturity financial instruments are included in “Cash and cash equivalents” on our consolidated balance sheet if the maturities at the time we made the investments were 90 days or less . Millions of Dollars Carrying Amount Cash and Cash Equivalents June 30 December 31 2015 2014 Cash $ 677 946 Money Market Funds - 50 Time deposits Remaining maturities from 1 to 90 days 3,136 3,726 Commercial paper Remaining maturities from 1 to 90 days - 340 $ 3,813 5,062 Credit Risk Financial instruments potentially exposed to concentrations of credit risk consist primarily of cash equivalents, over-the-counter (OTC) derivative contracts and trade receivables. Our cash equivalents are placed in high-quality commercial paper, money market funds, government debt securities and time deposits with major international banks and financial institutions. The credit risk from our OTC derivative contracts, such as forwards and swaps, derives from the c ounterparty to the transaction. Individual counterparty exposure is managed within predetermined credit limits and includes the use of cash-call margins when appropriate, thereby reducing the risk of significant nonperformance. We also use futures, swaps and option contracts that have a negligible credit risk because these trades are cleared with an exchange clearinghouse and subject to mandatory margin requirements until settled; however, we are exposed to the credit risk of those exchange brokers for re ceivables arising from daily margin cash calls, as well as for cash deposited to meet initial margin requirements. Our trade receivables result primarily from our petroleum operations and reflect a broad national and international customer base, which li mits our exposure to concentrations of credit risk. The majority of these receivables have payment terms of 30 days or less , and we continually monitor this exposure and the creditworthiness of the counterparties. We do not generally require collateral to limit the exposure to loss; however, we will sometimes use letters of credit, prepayments and master netting arrangements to mitigate credit risk with counterparties that both buy from and sell to us, as these agreements permit the amounts owed by us o r owed to others to be offset against amounts due us. Certain of our derivative instruments contain provisions that require us to post collateral if the derivative exposure exceeds a threshold amount. We have contracts with fixed threshold amounts and ot her contracts with variable threshold amounts that are contingent on our credit rating. The variable threshold amounts typically decline for lower credit ratings, while both the variable and fixed threshold amounts typically revert to zero if we fall belo w investment grade. Cash is the primary collateral in all contracts; however, many also permit us to post letters of credit as collateral, such as transactions administered through the New York Mercantile Exchange . The aggrega te fair value of all derivative instruments with such credit-risk-related contingent features that were in a liability position on June 30, 2015 and December 31, 2014 , was $ 100 million and $ 150 million, respectively. For these instruments, no collateral was posted as of June 30, 2015 or December 31, 2014 . If our credit rating had been lowered one level from its “A” rating (per Standard and Poor’s) on June 30, 2015 , we would be required to post no additional collate ral to our counterparties. If we had been downgraded below investment grade, we would be required to post $ 100 million of additional collateral, either with cash or letters of credit.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2015
Fair Value Measurement [Abstract]
Fair Value Measurement	Note 12 —Fair Value Measurement We carry a portion of our assets and liabilities at fair value that are measured at a reporting date using an exit price (i.e., the price that would be received to sell an asset or paid to transfer a liability) and disclosed according to the quality of valuation inputs under the following hierarchy: Level 1: Quoted prices (unadjusted) in an active market for identical assets or liabilities. Level 2: Inputs other than quoted prices that are directly or indirectly obs ervable. Level 3: Unobservable inputs that are significant to the fair value of assets or liabilities. The classification of an asset or liability is based on the lowest level of input significant to its fair value. Those that are initially classified as Level 3 are subsequently reported as Level 2 when the fair value derived from unobservable inputs is inconsequential to the overall fair value, or if corroborated market data becomes available. Assets and liabilities that are initially reported as Level 2 are subsequently reported as Level 3 if corroborated market data is no longer available. Transfers occur at the end of the reporting period. There were no material transfers in or out of Level 1 during 2015 or 2014 . Recurring Fair Value Measurement Financial assets and liabilities reported at fair value on a recurring basis primarily include commodity derivatives and certain investments to support nonqualified deferred compensation plans. The deferred compensation investments are measured at fair value using unadjusted prices available from national securities exchanges; therefore, these assets are categorized as Level 1 in the fair value hierarchy. Level 1 derivative assets and liabilities primarily represent exch ange-traded futures and options that are valued using unadjusted prices available from the underlying exchange. Level 2 derivative assets and liabilities primarily represent OTC swaps, options and forward purchase and sale contracts that are valued using adjusted exchange prices, prices provided by brokers or pricing service companies that are all corroborated by market data. Level 3 derivative assets and liabilities consist of OTC swaps, options and forward purchase and sale contracts that are long term in nature and where a significant portion of fair value is calculated from underlying market data that is not readily available. The derived value uses industry standard methodologies that may consider the historical relationships among various commoditie s, modeled market prices, time value, volatility factors and other relevant economic measures. The use of these inputs results in management’s best estimate of fair value. Level 3 activity was not material for all periods presented. The following table summarizes the fair value hierarchy for gross financial assets and liabilities (i.e., unadjusted where the right of setoff exists for commodity derivatives accounted for at fair value on a recurring basis): Millions of Dollars June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Deferred compensation investments $ 27 - - 27 297 - - 297 Commodity derivatives 2,236 192 70 2,498 4,221 361 75 4,657 Total assets $ 2,263 192 70 2,525 4,518 361 75 4,954 Liabilities Commodity derivatives $ 2,263 224 12 2,499 4,200 354 16 4,570 Total liabilities $ 2,263 224 12 2,499 4,200 354 16 4,570 The following table summarizes those commodity derivative balances subject to the right of setoff as presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists. Millions of Dollars Gross Gross Net Gross Amounts Amounts Amounts Amounts Cash without Net Recognized Offset Presented Collateral Right of Setoff Amounts June 30, 2015 Assets $ 2,498 2,334 164 - 12 152 Liabilities 2,499 2,334 165 28 9 128 December 31, 2014 Assets $ 4,657 4,352 305 8 28 269 Liabilities 4,570 4,352 218 4 22 192 At June 30, 2015 and December 31, 2014, we did not present any amounts gross on our consolidated balance sheet where we had the right of setoff. Non-Recurring Fair Value Measurement The following table summarizes the fair value hierarchy by major category for assets accounted for at fair value on a non-recurring basis: Millions of Dollars Fair Value Measurements Using Fair Value Level 3 Inputs Before-Tax Loss June 30, 2015 Net PP&E (held for use) $ 42 42 70 Net properties , plants and equipment (PP&E) held for use is comprised of various producing properties impaired to their individual fair values less costs to sell. The fair values were determined by internal discounted cash flow models using estimates of future production, prices from futures excha nges and pricing service companies, costs, and a discount rate believed to be consistent with those used by principal market participants. Reported Fair Values of Financial Instruments We used the following methods and assumptions to estimate the fair value of financial instruments: Cash and cash equivalents: The carrying amount reported on the balance sheet approximates fair value. Accounts and notes receivable (including long-term and related parties): The carrying amount reported on the balance sheet approximates fair value. The valuation technique and methods used to estimate the fair value of the current portion of fixed-rate re lated party loans is consistent with Loans and advances—related parties. Loans and advances—related parties: The carrying amount of floating-rate loans approximates fair value. The fair value of fixed-rate loan activity is measured using market observable data and is categorized as Level 2 in the fair value hierarchy. See Note 4 —Investments, Loans and Long-Term Receivables, for additional information. Accounts payable (including related parties) and floating-rate debt: The carrying amount of accounts payable and floating-rate debt reported on the balance sheet approximates fair value. Fixed-rate debt: The estimated fair value of fixed-rate debt is measured using prices available from a pricing service that is corroborated by market data; therefore, these liabilities are categorized as Level 2 in the fair value hierarchy. The following table summarizes the net fair value of financial instruments (i.e., adjusted where the right of setoff exists for commodity derivatives): Millions of Dollars Carrying Amount Fair Value June 30 December 31 June 30 December 31 2015 2014 2015 2014 Financial assets Deferred compensation investments $ 27 297 27 297 Commodity derivatives 164 297 164 297 Total loans and advances—related parties 861 913 861 913 Financial liabilities Total debt, excluding capital leases 24,068 21,707 26,746 25,191 Commodity derivatives 137 214 137 214 Deferred compensation investments In May 2015, we liquidated certain deferred compensation investments for proceeds of $267 million, which is included in the “Other” line within “Cash Flows From Investing Activities” on our consolidated statement of cash flows .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	Note 13—Accumulated Other Comprehensive Income Accumulated other comprehensive income (loss) in the equity section of our consolidated balance sheet included: Millions of Dollars Defined Benefit Plans Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) December 31, 2014 $ (1,261) (641) (1,902) Other comprehensive income (loss) 193 (1,932) (1,739) June 30, 2015 $ (1,068) (2,573) (3,641) Foreign Currency Translation decreased due to the strengthening of the U.S. dollar relative to the Canadian dollar, Australian dollar and Norwegian krone. There were no items within accumulated other comprehensive income (loss) related to noncontrolling interests. The following table summarizes reclassifications out of accumulated other comprehensive income: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Defined benefit plans $ 64 20 96 40 Above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of: $ 35 12 52 23 See Note 15 — Employee Benefit Plans, for additional information.

Cash Flow Information

Cash Flow Information	6 Months Ended
	Jun. 30, 2015
Cash Flow Information [Abstract]
Cash Flow Information	Note 14—Cash Flow Information Millions of Dollars Six Months Ended June 30 2015 2014 Cash Payments Interest $ 399 311 Income taxes* 172 2,321 Net Sales (Purchases) of Short-Term Investments Short-term investments purchased $ - (492) Short-term investments sold - 484 $ - (8) *Includes $556 million in 2015 related to a refund received from the Internal Revenue Service for 2014 overpaid taxes. In relation to certain working capital changes associated with investing activities, we reclassified $ 84 million of the “Decrease in accounts payable” line within “Cash Flows From Ope rating Activities” to the “Working capital changes associated with investing activities” line within “Cash Flows From Investing Activities” for the six months ended June 30, 2014 . There was no impact to “Cash and Cash Equivalents at End of Perio d. ”

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2015
Employee Benefit Plans [Abstract]
Employee Benefit Plans	Note 15 — Employee Benefit Plans Pension and Postretirement Plans Millions of Dollars Pension Benefits Other Benefits 2015 2014 2015 2014 U.S. Int'l. U.S. Int'l. Components of Net Periodic Benefit Cost Three Months Ended June 30 Service cost $ 36 31 31 28 - - Interest cost 39 34 41 42 7 7 Expected return on plan assets (53) (43) (53) (46) - - Amortization of prior service cost (credit) 1 (2) 2 (2) (2) (1) Recognized net actuarial loss 29 21 19 14 - - Settlements 52 - - - - - Net periodic benefit cost $ 104 41 40 36 5 6 Six Months Ended June 30 Service cost $ 72 63 62 56 1 1 Interest cost 79 68 82 84 14 14 Expected return on plan assets (107) (87) (106) (92) - - Amortization of prior service cost (credit) 3 (4) 3 (4) (3) (2) Recognized net actuarial loss (gain) 57 42 38 29 1 (1) Settlements 52 - - - - - Net periodic benefit cost $ 156 82 79 73 13 12 During the first six months of 2015 , we contributed $ 34 million to our domestic benefit plans and $ 71 million to our international benefit plans. In 2015, we expect to contribute approximately $ 110 million to our domestic qualified and nonqualified pension and postretirement benefit plans and $ 120 million to our international qualified and nonqualified pension and postretirement benefit plans. During the three - month period en ded June 30, 2015 , we determined lump-sum benefit payments will exceed the sum of service and interest costs for the fiscal year for the U.S. qualified pension plan and certain U.S. non-qualified supplemental retirement plans. As a result, we recognized a proportionate share of prior actuarial losses from other comprehensive income as pension settlement expense of $ 52 million. In conjunction with the recognition of pension settlement expense, the assets and pension benefit obligation of the U.S . qualified pension plan were remeasured and the impact on the net pension liability was immaterial. Due to an ongoing restructuring program in the Europe segment, we recognized additional expense of $ 10 million associated with employee spe cial termination benefits during the three - month period ended June 30, 2015 , and $ 60 million during the six - month period ended June 30, 2015 , of which approximately 62 percent is expected to be recovered from partner s. During the three - month period ended June 30, 2015 , there was an amendment to the other post retirement benefit plan. The benefit obligation decreased by $ 140 million for changes in the substantive plan made to retiree medical benefits. The $ 140 million decrease consists of a decrease of $ 91 million related to cost sharing changes for retirees for medical benefits, and a decrease of $ 49 million associated with excluding emplo yees and retirees of Phillips 66 who were not enrolled in a ConocoPhillips retiree medical plan as of July 1, 2015 . In conjunction with the recognition of the changes in the amendment, the benefit obligation was remeasured . At the remeasurement date, the benefit obligation decreased an additional $ 14 million related to changes in the discount rate and demographics of plan participants. The other postretirement benefits obligation decrease of $ 154 million resulted in a corresponding increase to other comprehensive income. The measurement of the accumulated postretirement benefit obligation for the post-65 retiree medical plan assumes a health care cost trend rate of 2 percent in 2015 that incr eases to 5 percent in 2018. Severance Accrual As a result of the current business environment’s impact on our operating and capital plans, a reduction in our overall employee workforce occurred during 2015 . The following table summarizes our severance accrual activity for the six - month period e nded June 30, 2015 : Millions of Dollars Balance at December 31, 2014 $ 61 Accruals 88 Accrual reversals (4) Benefit payments (84) Foreign currency translation adjustments (2) Balance at June 30, 2015 $ 59 Of the remaining balance at June 30, 2015 , $ 21 million is classified as short-term.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Note 16—Related Party Transactions We consider our equity method investments to be related parties. Significant transactions with related parties were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Operating revenues and other income $ 27 36 52 57 Purchases 25 52 47 100 Operating expenses and selling, general and administrative expenses* 17 14 35 32 Net interest (income) expense** (2) (12) (4) (24) *2014 has been restated to eliminate certain non-related party transactions. **We paid interest to, or received interest from, various affiliates. See Note 4—Investments, Loans and Long-Term Receivables, for additional information on loans to affiliated companies.

Segment Disclosures and Related

Segment Disclosures and Related Information	6 Months Ended
	Jun. 30, 2015
Segment Disclosures and Related Information [Abstract]
Segment Disclosures and Related Information	Note 17 —Segment Disclosures and Related Information We explore for, produce, transport and market crude oil, bitumen, natural gas, LNG and natural gas liquids on a worldwide basis. We manage our operations through six operating segments, which are primarily defined by geographic region: Alaska, Lower 48, Canada, Europe, Asia Pacific and Middle East, and Other International. After agreeing to sell our Nigeria business in 2012, we completed the sale in the third quarter of 2014. Results for these operations have been reported as discontinued operations in all periods presented. Corporate and Other represents costs not directly associated with an operating segment, such as most interest expense, corporate overhe ad and certain technology activities, including licensing revenues. Corporate assets include all cash and cash equivalents. We evaluate performance and allocate resources based on net income attributable to ConocoPhillips. Intersegment sales are at pr ices that approximate market. Analysis of Results by Operating Segment Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Sales and Other Operating Revenues Alaska $ 1,338 2,407 2,388 4,593 Lower 48 3,176 5,530 6,315 12,114 Intersegment eliminations (13) (22) (35) (60) Lower 48 3,163 5,508 6,280 12,054 Canada 653 1,168 1,356 3,027 Intersegment eliminations (79) (145) (189) (490) Canada 574 1,023 1,167 2,537 Europe 1,775 2,745 3,329 5,954 Intersegment eliminations (1) (44) (1) (44) Europe 1,774 2,701 3,328 5,910 Asia Pacific and Middle East 1,286 2,151 2,674 4,100 Other International - 3 (5) 5 Corporate and Other 158 28 177 37 Consolidated sales and other operating revenues $ 8,293 13,821 16,009 29,236 Net Income (loss) Attributable to ConocoPhillips Alaska $ 195 627 340 1,225 Lower 48 (293) 265 (698) 589 Canada (166) 182 (324) 538 Europe 37 259 674 606 Asia Pacific and Middle East 328 845 723 1,587 Other International (148) 121 (241) 92 Corporate and Other (132) (251) (381) (486) Discontinued operations - 33 - 53 Consolidated net income (loss) attributable to ConocoPhillips $ (179) 2,081 93 4,204 Millions of Dollars June 30 December 31 2015 2014 Total Assets Alaska $ 13,193 12,655 Lower 48 29,545 30,185 Canada 20,623 21,764 Europe 15,420 16,125 Asia Pacific and Middle East 25,136 25,976 Other International 1,645 1,961 Corporate and Other 6,441 7,815 Discontinued operations - 58 Consolidated total assets $ 112,003 116,539

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes [Abstract]
Income Taxes	Note 18 —Income Taxes Our effective tax rates from continuing operations for the second quarter and first six months of 2015 were negative 80 percent and positive 127 percent, respectively, compared with positive 40 percent and positive 42 percent for the same periods of 2014 . The decrease in the effective tax rate for the second quarter was primarily due to our overall pre-t ax loss position, the effect of the 2015 Canadian tax law change generating a tax expense, discussed below, and pre-tax income in high tax jurisdictions, partially offset by pre-tax losses in low tax jurisdictions. The increase in the effective tax rate for the first six months of 2015 was primarily due to our overall pre-tax loss position; the effect of the first quarter 2015 U.K. tax law change generating a tax benefit, discussed below; and pre-tax losses in low tax jurisdictions, partial ly offset by the second quarter 2015 Canadian tax law change and pre-tax income in high tax jurisdictions. In the United Kingdom, legislation was enacted on March 26, 2015 , to decrease the overall U.K. upstream corporation tax rate from 62 percent to 50 percent effective January 1, 2015 . As a result, a $ 555 million net tax benefit for revaluing the U.K. deferred tax liability is reflected in the “Provision (benefit) for income taxes” line on our cons olidated income statement. In Canada, legislation was enacted on June 29, 2015 , to increase the overall Canadian corporation tax rate from 25 percent to 27 percent effective July 1, 2015 . As a result, a $ 129 million net tax expense for revaluing the Canadian deferred tax liability is reflected in the “Provision (benefit) for income taxes” line on our consolidated income statement.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2015
New Accounting Standards [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 19 — New Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers,” which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. This ASU supersedes the revenue recognition requirements in FASB Accounting Standards Codification Topic 605, “Revenue Recognition,” and most industry-specific guidance. This ASU sets forth a five-step model for determining when and how revenue is recognized. Under the model, an entity will be required to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expect s to receive in exchange for those goods or services. Additional disclosures will be required to describe the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. The ASU is currently effective for interim and annual periods beginning after December 15, 2016. Early adoption is not permitted. Entities may choose to adopt the standard using either a full retrospective approach or a modified retrospective approach. We are currently evaluating the impact of the adoption of this ASU. In February 2015, the FASB issued ASU No. 2015-02, “Amendments to the Consolidation Analysis,” which amends existing requirements applicable to reporting entities that are required to evaluate whether certain legal entities should be consolidated. The ASU is effective for interim and annual periods beginning after December 15, 2015. Early adoption is permitted. Entities may choose to adopt the standard using either a full retrospective approach or a modified retrospective approach. We do not expect the adoption of this ASU to have a material impact on our consolidated financial statements and disclosures.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [TextBlock]	Note 20 —Subsequent Events In July 2015, we announced our plan to reduce future deepwater exploration spending. The decision will most significantly impact our operated Gulf of Mexico program, where we have provided a notice of termination of the contract for a Gulf of Mexico deepwater drillship. The drillship was scheduled for delivery in late 2015 to begin drilling our operated deepwater well inventory on a three-year term. Under the terms of the contract, we are subject to a termination fee th at represents up to two years of contract day rates. The termination fee is reduced for cost savings when the rig is idle and without a contract, as well as if the rig is re-contracted to another party. As a result of this cancellation, we expect to reco rd pre-tax charges in our third quarter 2015 earnings of up to $400 million for the rig termination fee and approximately $60 million for the write-off of certain capitalized rig-related costs.

Supplementary Information - Con

Supplementary Information - Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2015
Supplementary Information - Condensed Consolidating Financial Information [Abstract]
Supplementary Information - Condensed Consolidating Financial Information	Supplementary Information —Condensed Consolidating Financial Information We have various cross guarantees among ConocoPhillips, ConocoPhillips Company and ConocoPhillips Canada Funding Company I, with respect to publicly held debt securities. ConocoPhillips Company is 100 percent owned by ConocoPhillips. ConocoPhillips Canada Funding Company I is an indirect, 100 percent owned subsidiary of ConocoPhillips Company. ConocoPhillips and ConocoPhill ips Company have fully and unconditionally guaranteed the payment obligations of ConocoPhillips Canada Funding Company I, with respect to its publicly held debt securities. Similarly, ConocoPhillips has fully and unconditionally guaranteed the payment obl igations of ConocoPhillips Company with respect to its publicly held debt securities. In addition, ConocoPhillips Company has fully and unconditionally guaranteed the payment obligations of ConocoPhillips with respect to its publicly held debt securities. All guarantees are joint and several. The following condensed consolidating financial information presents the results of operations, financial position and cash flows for: ConocoPhillips, ConocoPhillips Company and ConocoPhillips Canada Funding Compan y I (in each case, reflecting investments in subsidiaries utilizing the equity method of accounting). All other nonguarantor subsidiaries of ConocoPhillips. The consolidating adjustments necessary to present ConocoPhillips’ results on a consolidated basis. This condensed consolidating financial information should be read in conjunction with the accompanying consolidated financial statements and notes. In April 2015, ConocoPhillips received a $2 billion return of capital from ConocoPhillips Company to se ttle certain accumulated intercompany balances. The transaction, reflected in the second quarter 2015 Condensed Consolidating Financial Information for ConocoPhillips and ConocoPhillips Company, had no impact on our consolidated f inancial statements. Millions of Dollars Three Months Ended June 30, 2015 Income Statement ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Revenues and Other Income Sales and other operating revenues $ - 3,102 - 5,191 - 8,293 Equity in earnings of affiliates (120) 215 - 138 25 258 Gain on dispositions - 2 - 50 - 52 Other income - 10 - 47 - 57 Intercompany revenues 18 82 63 952 (1,115) - Total Revenues and Other Income (102) 3,411 63 6,378 (1,090) 8,660 Costs and Expenses Purchased commodities - 2,568 - 1,610 (948) 3,230 Production and operating expenses - 395 - 1,405 (2) 1,798 Selling, general and administrative expenses 3 162 - 53 - 218 Exploration expenses - 143 - 406 - 549 Depreciation, depletion and amortization - 301 - 2,028 - 2,329 Impairments - - - 78 - 78 Taxes other than income taxes - 50 - 175 - 225 Accretion on discounted liabilities - 15 - 107 - 122 Interest and debt expense 121 111 57 86 (165) 210 Foreign currency transaction (gains) losses (16) 1 146 (139) - (8) Total Costs and Expenses 108 3,746 203 5,809 (1,115) 8,751 Income (loss) from continuing operations before income taxes (210) (335) (140) 569 25 (91) Provision (benefit) for income taxes (31) (215) (20) 339 - 73 Net income (loss) (179) (120) (120) 230 25 (164) Less: net income attributable to noncontrolling interests - - - (15) - (15) Net Income (Loss) Attributable to ConocoPhillips $ (179) (120) (120) 215 25 (179) Comprehensive Income (Loss) Attributable to ConocoPhillips $ 769 828 (33) 988 (1,783) 769 Income Statement Three Months Ended June 30, 2014 Revenues and Other Income Sales and other operating revenues $ - 5,105 - 8,716 - 13,821 Equity in earnings of affiliates 2,119 2,514 - 539 (4,500) 672 Gain on dispositions - 2 - 5 - 7 Other income - 27 - 174 - 201 Intercompany revenues 19 111 71 1,598 (1,799) - Total Revenues and Other Income 2,138 7,759 71 11,032 (6,299) 14,701 Costs and Expenses Purchased commodities - 4,431 - 2,631 (1,567) 5,495 Production and operating expenses - 481 - 1,596 (47) 2,030 Selling, general and administrative expenses 3 156 - 59 - 218 Exploration expenses - 238 - 279 - 517 Depreciation, depletion and amortization - 261 - 1,809 - 2,070 Impairments - 17 - - - 17 Taxes other than income taxes - 71 - 541 - 612 Accretion on discounted liabilities - 15 - 105 - 120 Interest and debt expense 148 62 58 72 (185) 155 Foreign currency transaction (gains) losses (22) 2 151 (124) - 7 Total Costs and Expenses 129 5,734 209 6,968 (1,799) 11,241 Income (loss) from continuing operations before income taxes 2,009 2,025 (138) 4,064 (4,500) 3,460 Provision (benefit) for income taxes (39) (94) (4) 1,532 - 1,395 Income (Loss) From Continuing Operations 2,048 2,119 (134) 2,532 (4,500) 2,065 Income from discontinued operations 33 33 - 33 (66) 33 Net income (loss) 2,081 2,152 (134) 2,565 (4,566) 2,098 Less: net income attributable to noncontrolling interests - - - (17) - (17) Net Income (Loss) Attributable to ConocoPhillips $ 2,081 2,152 (134) 2,548 (4,566) 2,081 Comprehensive Income (Loss) Attributable to ConocoPhillips $ 2,777 2,848 (14) 3,220 (6,054) 2,777 Millions of Dollars Six Months Ended June 30, 2015 Income Statement ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Revenues and Other Income Sales and other operating revenues $ - 6,035 - 9,974 - 16,009 Equity in earnings of affiliates 261 1,028 - 716 (1,542) 463 Gain on dispositions - 33 - 71 - 104 Other income - 17 - 69 - 86 Intercompany revenues 37 180 127 1,795 (2,139) - Total Revenues and Other Income 298 7,293 127 12,625 (3,681) 16,662 Costs and Expenses Purchased commodities - 5,128 - 3,104 (1,765) 6,467 Production and operating expenses - 795 - 2,839 (34) 3,600 Selling, general and administrative expenses 6 282 - 98 (9) 377 Exploration expenses - 343 - 688 - 1,031 Depreciation, depletion and amortization - 560 - 3,900 - 4,460 Impairments - - - 94 - 94 Taxes other than income taxes - 119 - 330 - 449 Accretion on discounted liabilities - 29 - 214 - 243 Interest and debt expense 242 212 114 175 (331) 412 Foreign currency transaction (gains) losses 47 - (232) 161 - (24) Total Costs and Expenses 295 7,468 (118) 11,603 (2,139) 17,109 Income (loss) from continuing operations before income taxes 3 (175) 245 1,022 (1,542) (447) Benefit from income taxes (90) (436) (9) (34) - (569) Income From Continuing Operations 93 261 254 1,056 (1,542) 122 Net income 93 261 254 1,056 (1,542) 122 Less: net income attributable to noncontrolling interests - - - (29) - (29) Net Income Attributable to ConocoPhillips $ 93 261 254 1,027 (1,542) 93 Comprehensive Income (Loss) Attributable to ConocoPhillips $ (1,646) (1,478) (3) (886) 2,367 (1,646) Income Statement Six Months Ended June 30, 2014 Revenues and Other Income Sales and other operating revenues $ - 11,248 - 17,988 - 29,236 Equity in earnings of affiliates* 4,331 4,965 - 1,260 (9,312) 1,244 Gain on dispositions - 1 - 15 - 16 Other income - 45 - 208 - 253 Intercompany revenues* 39 265 142 3,241 (3,687) - Total Revenues and Other Income 4,370 16,524 142 22,712 (12,999) 30,749 Costs and Expenses Purchased commodities - 9,948 - 5,921 (3,247) 12,622 Production and operating expenses - 841 - 3,134 (50) 3,925 Selling, general and administrative expenses 6 280 - 128 (14) 400 Exploration expenses - 382 - 431 - 813 Depreciation, depletion and amortization - 503 - 3,459 - 3,962 Impairments - 18 - - - 18 Taxes other than income taxes - 164 - 1,099 - 1,263 Accretion on discounted liabilities - 29 - 208 - 237 Interest and debt expense* 307 132 116 147 (376) 326 Foreign currency transaction (gains) losses 3 2 12 8 - 25 Total Costs and Expenses 316 12,299 128 14,535 (3,687) 23,591 Income from continuing operations before income taxes 4,054 4,225 14 8,177 (9,312) 7,158 Provision (benefit) for income taxes (97) (106) (2) 3,181 - 2,976 Income From Continuing Operations 4,151 4,331 16 4,996 (9,312) 4,182 Income from discontinued operations 53 53 - 53 (106) 53 Net income 4,204 4,384 16 5,049 (9,418) 4,235 Less: net income attributable to noncontrolling interests - - - (31) - (31) Net Income Attributable to ConocoPhillips $ 4,204 4,384 16 5,018 (9,418) 4,204 Comprehensive Income (Loss) Attributable to ConocoPhillips $ 4,700 4,880 (5) 5,475 (10,350) 4,700 *"Interest and debt expense" for ConocoPhillips was revised to reflect contractually agreed interest rates, with offsetting adjustments in the "Equity in earnings of affiliates" and "Intercompany revenues" lines for ConocoPhillips, ConocoPhillips Company and All Other Subsidiaries. There was no impact to Total Consolidated balances. Millions of Dollars June 30, 2015 Balance Sheet ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Assets Cash and cash equivalents $ - 35 8 3,770 - 3,813 Accounts and notes receivable 12 1,950 15 6,492 (3,290) 5,179 Inventories - 199 - 1,078 - 1,277 Prepaid expenses and other current assets 1 656 20 1,043 (45) 1,675 Total Current Assets 13 2,840 43 12,383 (3,335) 11,944 Investments, loans and long-term receivables* 52,063 70,361 3,777 30,775 (132,324) 24,652 Net properties, plants and equipment - 9,924 - 64,463 - 74,387 Other assets 7 143 300 1,310 (740) 1,020 Total Assets $ 52,083 83,268 4,120 108,931 (136,399) 112,003 Liabilities and Stockholders’ Equity Accounts payable $ - 4,153 4 5,002 (3,290) 5,869 Short-term debt (9) 1 5 141 - 138 Accrued income and other taxes - 128 - 752 - 880 Employee benefit obligations - 445 - 175 - 620 Other accruals 170 273 63 766 (45) 1,227 Total Current Liabilities 161 5,000 72 6,836 (3,335) 8,734 Long-term debt 7,513 10,661 2,969 3,644 - 24,787 Asset retirement obligations and accrued environmental costs - 1,320 - 9,247 - 10,567 Deferred income taxes - 331 - 14,048 (6) 14,373 Employee benefit obligations - 1,991 - 858 - 2,849 Other liabilities and deferred credits* 2,348 6,845 1,072 16,542 (25,083) 1,724 Total Liabilities 10,022 26,148 4,113 51,175 (28,424) 63,034 Retained earnings 36,258 21,707 (842) 18,366 (32,710) 42,779 Other common stockholders’ equity 5,803 35,413 849 39,041 (75,265) 5,841 Noncontrolling interests - - - 349 - 349 Total Liabilities and Stockholders’ Equity $ 52,083 83,268 4,120 108,931 (136,399) 112,003 *Includes intercompany loans. Balance Sheet December 31, 2014 Assets Cash and cash equivalents $ - 770 7 4,285 - 5,062 Accounts and notes receivable 20 2,813 22 6,671 (2,719) 6,807 Inventories - 281 - 1,050 - 1,331 Prepaid expenses and other current assets 6 754 15 1,138 (45) 1,868 Total Current Assets 26 4,618 44 13,144 (2,764) 15,068 Investments, loans and long-term receivables* 55,568 70,732 3,965 32,467 (137,593) 25,139 Net properties, plants and equipment - 9,730 - 65,714 - 75,444 Other assets 40 67 208 1,338 (765) 888 Total Assets 55,634 85,147 4,217 112,663 (141,122) 116,539 Liabilities and Stockholders’ Equity Accounts payable 1 4,149 14 6,581 (2,719) 8,026 Short-term debt (5) 6 5 176 - 182 Accrued income and other taxes - 117 - 934 - 1,051 Employee benefit obligations - 595 - 283 - 878 Other accruals 170 337 71 868 (46) 1,400 Total Current Liabilities 166 5,204 90 8,842 (2,765) 11,537 Long-term debt 7,541 8,197 2,974 3,671 - 22,383 Asset retirement obligations and accrued environmental costs - 1,328 - 9,319 - 10,647 Deferred income taxes - 265 - 14,811 (6) 15,070 Employee benefit obligations - 2,162 - 802 - 2,964 Other liabilities and deferred credits* 2,577 7,391 1,142 17,218 (26,663) 1,665 Total Liabilities 10,284 24,547 4,206 54,663 (29,434) 64,266 Retained earnings 37,983 21,448 (1,096) 17,355 (31,186) 44,504 Other common stockholders’ equity 7,367 39,152 1,107 40,283 (80,502) 7,407 Noncontrolling interests - - - 362 - 362 Total Liabilities and Stockholders’ Equity $ 55,634 85,147 4,217 112,663 (141,122) 116,539 *Includes intercompany loans. Millions of Dollars Six Months Ended June 30, 2015 Statement of Cash Flows ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Cash Flows From Operating Activities Net Cash Provided by (Used in) Operating Activities (124) 348 1 3,623 194 4,042 Cash Flows From Investing Activities Capital expenditures and investments - (1,642) - (4,773) 676 (5,739) Working capital changes associated with investing activities - (27) - (651) - (678) Proceeds from asset dispositions 2,000 94 - 205 (2,005) 294 Long-term advances/loans—related parties - (179) - (551) 730 - Collection of advances/loans—related parties - - - 152 (100) 52 Intercompany cash management (231) (574) - 805 - - Other - 292 - (1) - 291 Net Cash Provided by (Used in) Investing Activities 1,769 (2,036) - (4,814) (699) (5,780) Cash Flows From Financing Activities Issuance of debt - 3,049 - 179 (730) 2,498 Repayment of debt - (100) - (62) 100 (62) Issuance of company common stock 172 - - - (218) (46) Dividends paid (1,819) - - (24) 24 (1,819) Other 2 (1,996) - 630 1,329 (35) Net Cash Provided by (Used in) Financing Activities (1,645) 953 - 723 505 536 Effect of Exchange Rate Changes on Cash and Cash Equivalents - - - (47) - (47) Net Change in Cash and Cash Equivalents - (735) 1 (515) - (1,249) Cash and cash equivalents at beginning of period - 770 7 4,285 - 5,062 Cash and Cash Equivalents at End of Period $ - 35 8 3,770 - 3,813 Statement of Cash Flows Six Months Ended June 30, 2014* Cash Flows From Operating Activities Net cash provided by continuing operating activities $ 14,876 55 31 9,868 (15,073) 9,757 Net cash provided by discontinued operations - 170 - 232 (272) 130 Net Cash Provided by Operating Activities 14,876 225 31 10,100 (15,345) 9,887 Cash Flows From Investing Activities Capital expenditures and investments - (1,981) - (7,106) 946 (8,141) Working capital changes associated with investing activities - 40 - 44 - 84 Proceeds from asset dispositions 16,912 13 - 60 (16,922) 63 Net purchases of short-term investments - - - (8) - (8) Long-term advances/loans—related parties - (546) - (7) 553 - Collection of advances/loans—related parties - 30 - 47 - 77 Intercompany cash management (29,908) 33,248 - (3,340) - - Other - 103 - (7) - 96 Net cash provided by (used in) continuing investing activities (12,996) 30,907 - (10,317) (15,423) (7,829) Net cash used in discontinued operations - (1) - (63) 1 (63) Net Cash Provided by (Used in) Investing Activities (12,996) 30,906 - (10,380) (15,422) (7,892) Cash Flows From Financing Activities Issuance of debt - - - 553 (553) - Repayment of debt (400) - - (50) - (450) Issuance of company common stock 234 - - - (188) 46 Dividends paid (1,711) (15,088) - (275) 15,363 (1,711) Other (3) (16,876) - 875 15,976 (28) Net cash provided by (used in) continuing financing activities (1,880) (31,964) - 1,103 30,598 (2,143) Net cash used in discontinued operations - - - (169) 169 - Net Cash Provided by (Used in) Financing Activities (1,880) (31,964) - 934 30,767 (2,143) Effect of Exchange Rate Changes on Cash and Cash Equivalents - - - 44 - 44 Net Change in Cash and Cash Equivalents - (833) 31 698 - (104) Cash and cash equivalents at beginning of period - 2,434 229 3,583 - 6,246 Cash and Cash Equivalents at End of Period $ - 1,601 260 4,281 - 6,142 *Certain amounts have been reclassified to conform to current-period presentation. See Note 14—Cash Flow Information, in the Notes to the Consolidated Financial Statements.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventories [Abstract]
Inventories	Note 3—Inventories Inventories consisted of the following: Millions of Dollars June 30 December 31 2015 2014 Crude oil and natural gas $ 474 538 Materials, supplies and other 803 793 $ 1,277 1,331

Impairments (Tables)

Impairments (Tables)	6 Months Ended
	Jun. 30, 2015
Impairment Of Long Lived Assets [Abstract]
Impairment charges by segment before tax.	Note 6—Impairments During the three- and six-month periods ended June 30, 2015 and 2014, we recognized before-tax impairment charges within the following segments: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Alaska $ 7 - 7 - Lower 48 - 17 - 17 Europe 71 - 87 - Corporate and Other - - - 1 $ 78 17 94 18

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interests [Abstract]
Change in equity attributable to non-controlling interests	Note 8—Noncontrolling Interests Activity attributable to common stockholders’ equity and noncontrolling interests for the first six months of 2015 and 2014 was as follows: Millions of Dollars 2015 2014 Common Stockholders’ Equity Non-Controlling Interest Total Equity Common Stockholders’ Equity Non-Controlling Interest Total Equity Balance at January 1 $ 51,911 362 52,273 52,090 402 52,492 Net income 93 29 122 4,204 31 4,235 Dividends (1,819) - (1,819) (1,711) - (1,711) Distributions to noncontrolling interests - (43) (43) - (62) (62) Other changes, net* (1,565) 1 (1,564) 732 - 732 Balance at June 30 $ 48,620 349 48,969 55,315 371 55,686 *Includes components of other comprehensive income, which are disclosed separately in the Consolidated Statement of Comprehensive Income.

Derivative and Financial Inst32

Derivative and Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative and Financial Instruments [Abstract]
Balance sheet location and fair value amounts of derivatives	The following table presents the gross fair values of our commodity derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet: Millions of Dollars June 30 December 31 2015 2014 Assets Prepaid expenses and other current assets $ 2,386 4,500 Other assets 112 157 Liabilities Other accruals 2,398 4,426 Other liabilities and deferred credits 101 144 The following table presents the gross fair values of our foreign currency exchange derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet: Millions of Dollars June 30 December 31 2015 2014 Assets Prepaid expenses and other current assets $ 25 1 Liabilities Other accruals 2 1
Income statement location and gain/loss amounts of derivatives	The gains (losses) from commodity derivatives incurred, and the line items where they appear on our consolidated income statement were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Sales and other operating revenues $ 44 184 28 421 Other income 2 1 1 2 Purchased commodities (47) (163) (3) (384) The gains from foreign currency exchange derivatives incurred, and the line item where they appear on our consolidated income statement were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Foreign currency transaction gains $ (37) (7) (13) (7)
Net exposures from outstanding commodity derivative contracts	The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts: Open Position Long/(Short) June 30 December 31 2015 2014 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price (23) (11) Basis (13) 18 We had the following net notional position of outstanding foreign currency exchange derivatives: In Millions Notional Currency June 30 December 31 2015 2014 Sell U.S. dollar, buy other currencies* USD 55 7 Buy U.S. dollar, sell other currencies** USD 20 44 Sell British pound, buy euro GBP 6 - Buy British pound, sell other currencies*** GBP 309 20 *Primarily Canadian dollar and British pound. **Primarily Canadian dollar and Norwegian krone. ***Primarily Canadian dollar and euro.
Balances of financial instruments	Millions of Dollars Carrying Amount Cash and Cash Equivalents June 30 December 31 2015 2014 Cash $ 677 946 Money Market Funds - 50 Time deposits Remaining maturities from 1 to 90 days 3,136 3,726 Commercial paper Remaining maturities from 1 to 90 days - 340 $ 3,813 5,062

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Measurement [Abstract]
Fair value hierarchy for gross financial assets and liabilities	Millions of Dollars June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Deferred compensation investments $ 27 - - 27 297 - - 297 Commodity derivatives 2,236 192 70 2,498 4,221 361 75 4,657 Total assets $ 2,263 192 70 2,525 4,518 361 75 4,954 Liabilities Commodity derivatives $ 2,263 224 12 2,499 4,200 354 16 4,570 Total liabilities $ 2,263 224 12 2,499 4,200 354 16 4,570
Commodity derivative balances subject to right of setoff	The following table summarizes those commodity derivative balances subject to the right of setoff as presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists. Millions of Dollars Gross Gross Net Gross Amounts Amounts Amounts Amounts Cash without Net Recognized Offset Presented Collateral Right of Setoff Amounts June 30, 2015 Assets $ 2,498 2,334 164 - 12 152 Liabilities 2,499 2,334 165 28 9 128 December 31, 2014 Assets $ 4,657 4,352 305 8 28 269 Liabilities 4,570 4,352 218 4 22 192 At June 30, 2015 and December 31, 2014, we did not present any amounts gross on our consolidated balance sheet where we had the right of setoff.
Net fair value of financial instruments	The following table summarizes the net fair value of financial instruments (i.e., adjusted where the right of setoff exists for commodity derivatives): Millions of Dollars Carrying Amount Fair Value June 30 December 31 June 30 December 31 2015 2014 2015 2014 Financial assets Deferred compensation investments $ 27 297 27 297 Commodity derivatives 164 297 164 297 Total loans and advances—related parties 861 913 861 913 Financial liabilities Total debt, excluding capital leases 24,068 21,707 26,746 25,191 Commodity derivatives 137 214 137 214
Values of assets, by major category, measured at fair value on a nonrecurring basis	Non-Recurring Fair Value Measurement The following table summarizes the fair value hierarchy by major category for assets accounted for at fair value on a non-recurring basis: Millions of Dollars Fair Value Measurements Using Fair Value Level 3 Inputs Before-Tax Loss June 30, 2015 Net PP&E (held for use) $ 42 42 70

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income [Abstract]
Components of accumulated other comprehensive income in the equity section of the balance sheet	Note 13—Accumulated Other Comprehensive Income Accumulated other comprehensive income (loss) in the equity section of our consolidated balance sheet included: Millions of Dollars Defined Benefit Plans Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) December 31, 2014 $ (1,261) (641) (1,902) Other comprehensive income (loss) 193 (1,932) (1,739) June 30, 2015 $ (1,068) (2,573) (3,641) Foreign Currency Translation decreased due to the strengthening of the U.S. dollar relative to the Canadian dollar, Australian dollar and Norwegian krone.
Items reclassified out of accumulated other comprehensive income (loss)	The following table summarizes reclassifications out of accumulated other comprehensive income: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Defined benefit plans $ 64 20 96 40 Above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of: $ 35 12 52 23 See Note 15 — Employee Benefit Plans, for additional information.

Cash Flow Information (Tables)

Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2015
Cash Flow Information [Abstract]
Cash Flow Information	Note 14—Cash Flow Information Millions of Dollars Six Months Ended June 30 2015 2014 Cash Payments Interest $ 399 311 Income taxes* 172 2,321 Net Sales (Purchases) of Short-Term Investments Short-term investments purchased $ - (492) Short-term investments sold - 484 $ - (8) *Includes $556 million in 2015 related to a refund received from the Internal Revenue Service for 2014 overpaid taxes.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Employee Benefit Plans [Abstract]
Pension and Postretirement Plans	Note 15 — Employee Benefit Plans Pension and Postretirement Plans Millions of Dollars Pension Benefits Other Benefits 2015 2014 2015 2014 U.S. Int'l. U.S. Int'l. Components of Net Periodic Benefit Cost Three Months Ended June 30 Service cost $ 36 31 31 28 - - Interest cost 39 34 41 42 7 7 Expected return on plan assets (53) (43) (53) (46) - - Amortization of prior service cost (credit) 1 (2) 2 (2) (2) (1) Recognized net actuarial loss 29 21 19 14 - - Settlements 52 - - - - - Net periodic benefit cost $ 104 41 40 36 5 6 Six Months Ended June 30 Service cost $ 72 63 62 56 1 1 Interest cost 79 68 82 84 14 14 Expected return on plan assets (107) (87) (106) (92) - - Amortization of prior service cost (credit) 3 (4) 3 (4) (3) (2) Recognized net actuarial loss (gain) 57 42 38 29 1 (1) Settlements 52 - - - - - Net periodic benefit cost $ 156 82 79 73 13 12
Severance accrual	Millions of Dollars Balance at December 31, 2014 $ 61 Accruals 88 Accrual reversals (4) Benefit payments (84) Foreign currency translation adjustments (2) Balance at June 30, 2015 $ 59

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Significant transactions with related parties	Note 16—Related Party Transactions We consider our equity method investments to be related parties. Significant transactions with related parties were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Operating revenues and other income $ 27 36 52 57 Purchases 25 52 47 100 Operating expenses and selling, general and administrative expenses* 17 14 35 32 Net interest (income) expense** (2) (12) (4) (24) *2014 has been restated to eliminate certain non-related party transactions. **We paid interest to, or received interest from, various affiliates. See Note 4—Investments, Loans and Long-Term Receivables, for additional information on loans to affiliated companies.

Segment Disclosures and Relat38

Segment Disclosures and Related Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Disclosures and Related Information [Abstract]
Analysis of Results by Operating Segment	Analysis of Results by Operating Segment Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Sales and Other Operating Revenues Alaska $ 1,338 2,407 2,388 4,593 Lower 48 3,176 5,530 6,315 12,114 Intersegment eliminations (13) (22) (35) (60) Lower 48 3,163 5,508 6,280 12,054 Canada 653 1,168 1,356 3,027 Intersegment eliminations (79) (145) (189) (490) Canada 574 1,023 1,167 2,537 Europe 1,775 2,745 3,329 5,954 Intersegment eliminations (1) (44) (1) (44) Europe 1,774 2,701 3,328 5,910 Asia Pacific and Middle East 1,286 2,151 2,674 4,100 Other International - 3 (5) 5 Corporate and Other 158 28 177 37 Consolidated sales and other operating revenues $ 8,293 13,821 16,009 29,236 Net Income (loss) Attributable to ConocoPhillips Alaska $ 195 627 340 1,225 Lower 48 (293) 265 (698) 589 Canada (166) 182 (324) 538 Europe 37 259 674 606 Asia Pacific and Middle East 328 845 723 1,587 Other International (148) 121 (241) 92 Corporate and Other (132) (251) (381) (486) Discontinued operations - 33 - 53 Consolidated net income (loss) attributable to ConocoPhillips $ (179) 2,081 93 4,204 Millions of Dollars June 30 December 31 2015 2014 Total Assets Alaska $ 13,193 12,655 Lower 48 29,545 30,185 Canada 20,623 21,764 Europe 15,420 16,125 Asia Pacific and Middle East 25,136 25,976 Other International 1,645 1,961 Corporate and Other 6,441 7,815 Discontinued operations - 58 Consolidated total assets $ 112,003 116,539

Supplementary Information - C39

Supplementary Information - Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2015
Supplementary Information - Condensed Consolidating Financial Information [Abstract]
Condensed Consolidated Income Statement	Millions of Dollars Three Months Ended June 30, 2015 Income Statement ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Revenues and Other Income Sales and other operating revenues $ - 3,102 - 5,191 - 8,293 Equity in earnings of affiliates (120) 215 - 138 25 258 Gain on dispositions - 2 - 50 - 52 Other income - 10 - 47 - 57 Intercompany revenues 18 82 63 952 (1,115) - Total Revenues and Other Income (102) 3,411 63 6,378 (1,090) 8,660 Costs and Expenses Purchased commodities - 2,568 - 1,610 (948) 3,230 Production and operating expenses - 395 - 1,405 (2) 1,798 Selling, general and administrative expenses 3 162 - 53 - 218 Exploration expenses - 143 - 406 - 549 Depreciation, depletion and amortization - 301 - 2,028 - 2,329 Impairments - - - 78 - 78 Taxes other than income taxes - 50 - 175 - 225 Accretion on discounted liabilities - 15 - 107 - 122 Interest and debt expense 121 111 57 86 (165) 210 Foreign currency transaction (gains) losses (16) 1 146 (139) - (8) Total Costs and Expenses 108 3,746 203 5,809 (1,115) 8,751 Income (loss) from continuing operations before income taxes (210) (335) (140) 569 25 (91) Provision (benefit) for income taxes (31) (215) (20) 339 - 73 Net income (loss) (179) (120) (120) 230 25 (164) Less: net income attributable to noncontrolling interests - - - (15) - (15) Net Income (Loss) Attributable to ConocoPhillips $ (179) (120) (120) 215 25 (179) Comprehensive Income (Loss) Attributable to ConocoPhillips $ 769 828 (33) 988 (1,783) 769 Income Statement Three Months Ended June 30, 2014 Revenues and Other Income Sales and other operating revenues $ - 5,105 - 8,716 - 13,821 Equity in earnings of affiliates 2,119 2,514 - 539 (4,500) 672 Gain on dispositions - 2 - 5 - 7 Other income - 27 - 174 - 201 Intercompany revenues 19 111 71 1,598 (1,799) - Total Revenues and Other Income 2,138 7,759 71 11,032 (6,299) 14,701 Costs and Expenses Purchased commodities - 4,431 - 2,631 (1,567) 5,495 Production and operating expenses - 481 - 1,596 (47) 2,030 Selling, general and administrative expenses 3 156 - 59 - 218 Exploration expenses - 238 - 279 - 517 Depreciation, depletion and amortization - 261 - 1,809 - 2,070 Impairments - 17 - - - 17 Taxes other than income taxes - 71 - 541 - 612 Accretion on discounted liabilities - 15 - 105 - 120 Interest and debt expense 148 62 58 72 (185) 155 Foreign currency transaction (gains) losses (22) 2 151 (124) - 7 Total Costs and Expenses 129 5,734 209 6,968 (1,799) 11,241 Income (loss) from continuing operations before income taxes 2,009 2,025 (138) 4,064 (4,500) 3,460 Provision (benefit) for income taxes (39) (94) (4) 1,532 - 1,395 Income (Loss) From Continuing Operations 2,048 2,119 (134) 2,532 (4,500) 2,065 Income from discontinued operations 33 33 - 33 (66) 33 Net income (loss) 2,081 2,152 (134) 2,565 (4,566) 2,098 Less: net income attributable to noncontrolling interests - - - (17) - (17) Net Income (Loss) Attributable to ConocoPhillips $ 2,081 2,152 (134) 2,548 (4,566) 2,081 Comprehensive Income (Loss) Attributable to ConocoPhillips $ 2,777 2,848 (14) 3,220 (6,054) 2,777 Millions of Dollars Six Months Ended June 30, 2015 Income Statement ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Revenues and Other Income Sales and other operating revenues $ - 6,035 - 9,974 - 16,009 Equity in earnings of affiliates 261 1,028 - 716 (1,542) 463 Gain on dispositions - 33 - 71 - 104 Other income - 17 - 69 - 86 Intercompany revenues 37 180 127 1,795 (2,139) - Total Revenues and Other Income 298 7,293 127 12,625 (3,681) 16,662 Costs and Expenses Purchased commodities - 5,128 - 3,104 (1,765) 6,467 Production and operating expenses - 795 - 2,839 (34) 3,600 Selling, general and administrative expenses 6 282 - 98 (9) 377 Exploration expenses - 343 - 688 - 1,031 Depreciation, depletion and amortization - 560 - 3,900 - 4,460 Impairments - - - 94 - 94 Taxes other than income taxes - 119 - 330 - 449 Accretion on discounted liabilities - 29 - 214 - 243 Interest and debt expense 242 212 114 175 (331) 412 Foreign currency transaction (gains) losses 47 - (232) 161 - (24) Total Costs and Expenses 295 7,468 (118) 11,603 (2,139) 17,109 Income (loss) from continuing operations before income taxes 3 (175) 245 1,022 (1,542) (447) Benefit from income taxes (90) (436) (9) (34) - (569) Income From Continuing Operations 93 261 254 1,056 (1,542) 122 Net income 93 261 254 1,056 (1,542) 122 Less: net income attributable to noncontrolling interests - - - (29) - (29) Net Income Attributable to ConocoPhillips $ 93 261 254 1,027 (1,542) 93 Comprehensive Income (Loss) Attributable to ConocoPhillips $ (1,646) (1,478) (3) (886) 2,367 (1,646) Income Statement Six Months Ended June 30, 2014 Revenues and Other Income Sales and other operating revenues $ - 11,248 - 17,988 - 29,236 Equity in earnings of affiliates* 4,331 4,965 - 1,260 (9,312) 1,244 Gain on dispositions - 1 - 15 - 16 Other income - 45 - 208 - 253 Intercompany revenues* 39 265 142 3,241 (3,687) - Total Revenues and Other Income 4,370 16,524 142 22,712 (12,999) 30,749 Costs and Expenses Purchased commodities - 9,948 - 5,921 (3,247) 12,622 Production and operating expenses - 841 - 3,134 (50) 3,925 Selling, general and administrative expenses 6 280 - 128 (14) 400 Exploration expenses - 382 - 431 - 813 Depreciation, depletion and amortization - 503 - 3,459 - 3,962 Impairments - 18 - - - 18 Taxes other than income taxes - 164 - 1,099 - 1,263 Accretion on discounted liabilities - 29 - 208 - 237 Interest and debt expense* 307 132 116 147 (376) 326 Foreign currency transaction (gains) losses 3 2 12 8 - 25 Total Costs and Expenses 316 12,299 128 14,535 (3,687) 23,591 Income from continuing operations before income taxes 4,054 4,225 14 8,177 (9,312) 7,158 Provision (benefit) for income taxes (97) (106) (2) 3,181 - 2,976 Income From Continuing Operations 4,151 4,331 16 4,996 (9,312) 4,182 Income from discontinued operations 53 53 - 53 (106) 53 Net income 4,204 4,384 16 5,049 (9,418) 4,235 Less: net income attributable to noncontrolling interests - - - (31) - (31) Net Income Attributable to ConocoPhillips $ 4,204 4,384 16 5,018 (9,418) 4,204 Comprehensive Income (Loss) Attributable to ConocoPhillips $ 4,700 4,880 (5) 5,475 (10,350) 4,700 *"Interest and debt expense" for ConocoPhillips was revised to reflect contractually agreed interest rates, with offsetting adjustments in the "Equity in earnings of affiliates" and "Intercompany revenues" lines for ConocoPhillips, ConocoPhillips Company and All Other Subsidiaries. There was no impact to Total Consolidated balances.
Schedule of Condensed Balance Sheet	Millions of Dollars June 30, 2015 Balance Sheet ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Assets Cash and cash equivalents $ - 35 8 3,770 - 3,813 Accounts and notes receivable 12 1,950 15 6,492 (3,290) 5,179 Inventories - 199 - 1,078 - 1,277 Prepaid expenses and other current assets 1 656 20 1,043 (45) 1,675 Total Current Assets 13 2,840 43 12,383 (3,335) 11,944 Investments, loans and long-term receivables* 52,063 70,361 3,777 30,775 (132,324) 24,652 Net properties, plants and equipment - 9,924 - 64,463 - 74,387 Other assets 7 143 300 1,310 (740) 1,020 Total Assets $ 52,083 83,268 4,120 108,931 (136,399) 112,003 Liabilities and Stockholders’ Equity Accounts payable $ - 4,153 4 5,002 (3,290) 5,869 Short-term debt (9) 1 5 141 - 138 Accrued income and other taxes - 128 - 752 - 880 Employee benefit obligations - 445 - 175 - 620 Other accruals 170 273 63 766 (45) 1,227 Total Current Liabilities 161 5,000 72 6,836 (3,335) 8,734 Long-term debt 7,513 10,661 2,969 3,644 - 24,787 Asset retirement obligations and accrued environmental costs - 1,320 - 9,247 - 10,567 Deferred income taxes - 331 - 14,048 (6) 14,373 Employee benefit obligations - 1,991 - 858 - 2,849 Other liabilities and deferred credits* 2,348 6,845 1,072 16,542 (25,083) 1,724 Total Liabilities 10,022 26,148 4,113 51,175 (28,424) 63,034 Retained earnings 36,258 21,707 (842) 18,366 (32,710) 42,779 Other common stockholders’ equity 5,803 35,413 849 39,041 (75,265) 5,841 Noncontrolling interests - - - 349 - 349 Total Liabilities and Stockholders’ Equity $ 52,083 83,268 4,120 108,931 (136,399) 112,003 *Includes intercompany loans. Balance Sheet December 31, 2014 Assets Cash and cash equivalents $ - 770 7 4,285 - 5,062 Accounts and notes receivable 20 2,813 22 6,671 (2,719) 6,807 Inventories - 281 - 1,050 - 1,331 Prepaid expenses and other current assets 6 754 15 1,138 (45) 1,868 Total Current Assets 26 4,618 44 13,144 (2,764) 15,068 Investments, loans and long-term receivables* 55,568 70,732 3,965 32,467 (137,593) 25,139 Net properties, plants and equipment - 9,730 - 65,714 - 75,444 Other assets 40 67 208 1,338 (765) 888 Total Assets 55,634 85,147 4,217 112,663 (141,122) 116,539 Liabilities and Stockholders’ Equity Accounts payable 1 4,149 14 6,581 (2,719) 8,026 Short-term debt (5) 6 5 176 - 182 Accrued income and other taxes - 117 - 934 - 1,051 Employee benefit obligations - 595 - 283 - 878 Other accruals 170 337 71 868 (46) 1,400 Total Current Liabilities 166 5,204 90 8,842 (2,765) 11,537 Long-term debt 7,541 8,197 2,974 3,671 - 22,383 Asset retirement obligations and accrued environmental costs - 1,328 - 9,319 - 10,647 Deferred income taxes - 265 - 14,811 (6) 15,070 Employee benefit obligations - 2,162 - 802 - 2,964 Other liabilities and deferred credits* 2,577 7,391 1,142 17,218 (26,663) 1,665 Total Liabilities 10,284 24,547 4,206 54,663 (29,434) 64,266 Retained earnings 37,983 21,448 (1,096) 17,355 (31,186) 44,504 Other common stockholders’ equity 7,367 39,152 1,107 40,283 (80,502) 7,407 Noncontrolling interests - - - 362 - 362 Total Liabilities and Stockholders’ Equity $ 55,634 85,147 4,217 112,663 (141,122) 116,539 *Includes intercompany loans.
Condensed Consolidated Statement of Cash Flows	Millions of Dollars Six Months Ended June 30, 2015 Statement of Cash Flows ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Cash Flows From Operating Activities Net Cash Provided by (Used in) Operating Activities (124) 348 1 3,623 194 4,042 Cash Flows From Investing Activities Capital expenditures and investments - (1,642) - (4,773) 676 (5,739) Working capital changes associated with investing activities - (27) - (651) - (678) Proceeds from asset dispositions 2,000 94 - 205 (2,005) 294 Long-term advances/loans—related parties - (179) - (551) 730 - Collection of advances/loans—related parties - - - 152 (100) 52 Intercompany cash management (231) (574) - 805 - - Other - 292 - (1) - 291 Net Cash Provided by (Used in) Investing Activities 1,769 (2,036) - (4,814) (699) (5,780) Cash Flows From Financing Activities Issuance of debt - 3,049 - 179 (730) 2,498 Repayment of debt - (100) - (62) 100 (62) Issuance of company common stock 172 - - - (218) (46) Dividends paid (1,819) - - (24) 24 (1,819) Other 2 (1,996) - 630 1,329 (35) Net Cash Provided by (Used in) Financing Activities (1,645) 953 - 723 505 536 Effect of Exchange Rate Changes on Cash and Cash Equivalents - - - (47) - (47) Net Change in Cash and Cash Equivalents - (735) 1 (515) - (1,249) Cash and cash equivalents at beginning of period - 770 7 4,285 - 5,062 Cash and Cash Equivalents at End of Period $ - 35 8 3,770 - 3,813 Statement of Cash Flows Six Months Ended June 30, 2014* Cash Flows From Operating Activities Net cash provided by continuing operating activities $ 14,876 55 31 9,868 (15,073) 9,757 Net cash provided by discontinued operations - 170 - 232 (272) 130 Net Cash Provided by Operating Activities 14,876 225 31 10,100 (15,345) 9,887 Cash Flows From Investing Activities Capital expenditures and investments - (1,981) - (7,106) 946 (8,141) Working capital changes associated with investing activities - 40 - 44 - 84 Proceeds from asset dispositions 16,912 13 - 60 (16,922) 63 Net purchases of short-term investments - - - (8) - (8) Long-term advances/loans—related parties - (546) - (7) 553 - Collection of advances/loans—related parties - 30 - 47 - 77 Intercompany cash management (29,908) 33,248 - (3,340) - - Other - 103 - (7) - 96 Net cash provided by (used in) continuing investing activities (12,996) 30,907 - (10,317) (15,423) (7,829) Net cash used in discontinued operations - (1) - (63) 1 (63) Net Cash Provided by (Used in) Investing Activities (12,996) 30,906 - (10,380) (15,422) (7,892) Cash Flows From Financing Activities Issuance of debt - - - 553 (553) - Repayment of debt (400) - - (50) - (450) Issuance of company common stock 234 - - - (188) 46 Dividends paid (1,711) (15,088) - (275) 15,363 (1,711) Other (3) (16,876) - 875 15,976 (28) Net cash provided by (used in) continuing financing activities (1,880) (31,964) - 1,103 30,598 (2,143) Net cash used in discontinued operations - - - (169) 169 - Net Cash Provided by (Used in) Financing Activities (1,880) (31,964) - 934 30,767 (2,143) Effect of Exchange Rate Changes on Cash and Cash Equivalents - - - 44 - 44 Net Change in Cash and Cash Equivalents - (833) 31 698 - (104) Cash and cash equivalents at beginning of period - 2,434 229 3,583 - 6,246 Cash and Cash Equivalents at End of Period $ - 1,601 260 4,281 - 6,142 *Certain amounts have been reclassified to conform to current-period presentation. See Note 14—Cash Flow Information, in the Notes to the Consolidated Financial Statements.

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Inventories
Crude oil and petroleum products	$ 474	$ 538
Materials, supplies and other	803	793
Total Inventories	1,277	1,331
Inventories (Textual) [Abstract]
Inventories valued on the LIFO basis	351	440
Excess of current replacement cost over LIFO cost of inventories	$ 44	$ 6

Investments, Loans and Long-T41

Investments, Loans and Long-Term Receivables (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Dec. 31, 2014
Equity method investments
Cumulative foreign currency translation adjustment		$ (2,573)	$ (641)
Australia Pacific LNG [Member]
Equity method investments
Book value of investment		12,105
Project finance facility		8,500
Cumulative foreign currency translation adjustment		530
Amount drawn from project finance facility		8,300
Australia Pacific LNG [Member] | Export-Import Bank of the US [Member]
Equity method investments
Project finance facility		2,900
Australia Pacific LNG [Member] | Export-Import Bank of China [Member]
Equity method investments
Project finance facility		2,700
Australia Pacific LNG [Member] | Australian and International Commercial Bank Syndicate [Member]
Equity method investments
Project finance facility		2,900
Qatar Liquefied Gas Company Limited (3) (QG3) [Member]
Equity method investments
Loan balance with affiliated company		857
FCCL [Member]
Equity method investments
Book value of investment		8,979
Cumulative foreign currency translation adjustment		$ 1,004
Distribution from equity affiliate	$ 1,300

Suspended Wells and Wells in 42

Suspended Wells and Wells in Progress (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense	$ 549	$ 517	$ 1,031	$ 813
Suspended Wells (Textual) [Abstract]
Capitalized cost of suspended wells	1,423		1,423		$ 1,299
Increase (decrease) in capitalized cost of suspended wells			124
Other International [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense	$ 209
Poland [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense			93
Angola [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense			$ 116

Impairments (Details Textual)

Impairments (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	$ 78	$ 17	$ 94	$ 18
Exploration Expense	549	517	1,031	813
Alaska [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	7		7
Lower 48 [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges		$ 17		17
Europe [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	71		$ 87
Other International [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense	$ 209
Corporate [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges				$ 1

Debt (Details Textual)

Debt (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Commercial Paper Programs (Textual) [Abstract]
Maturity period of commercial paper (in days)	P90D
Letters of credit issued	$ 400
Debt (Textual) [Abstract]
Classification of short-term debt as long-term debt	750
1.5% Notes due 2018 [Member]
Long-term debt
Debt at face value	$ 750
Stated percentage of debt	1.50%
Floating Rate Notes due 2018 [Member]
Long-term debt
Debt at face value	$ 250
Floating Rate Notes	three-month LIBOR, plus 0.33%
2.2% Notes due 2020 [Member]
Long-term debt
Debt at face value	$ 500
Stated percentage of debt	2.20%
Floating Rate Notes due 2022 [Member]
Long-term debt
Debt at face value	$ 500
Floating Rate Notes	three-month LIBOR, plus 0.90%
3.35% Notes due 2025 [Member]
Long-term debt
Debt at face value	$ 500
Stated percentage of debt	3.35%
Revolving Credit Facilities [Member]
Commercial Paper Programs (Textual) [Abstract]
Total amount under revolving credit facilities	$ 7,000
Letters of credit issued	0
Credit facilities remaining after commercial paper outstanding and issuance of letters of credit	6,200
ConocoPhillips [Member]
Commercial Paper Programs (Textual) [Abstract]
Commercial paper program.	6,100
ConocoPhillips Qatar Funding Ltd. [Member]
Commercial Paper Programs (Textual) [Abstract]
Commercial paper program.	900
Commercial paper outstanding	$ 806	$ 860

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Activity for equity attributable to noncontrolling interests
Beginning Balance				$ 52,273	$ 52,492
Net income (loss)		$ (164)	$ 2,098	122	4,235
Dividends paid				(1,819)	(1,711)	[1]
Distributions to noncontrolling interests				(43)	(62)
Other	[2]			(1,564)	732
Ending Balance		48,969	55,686	48,969	55,686
Common Stockholders' Equity [Member]
Activity for equity attributable to noncontrolling interests
Beginning Balance				51,911	52,090
Net income (loss)				93	4,204
Dividends paid				(1,819)	(1,711)
Other	[2]			(1,565)	732
Ending Balance		48,620	55,315	48,620	55,315
Noncontrolling Interest [Member]
Activity for equity attributable to noncontrolling interests
Beginning Balance				362	402
Net income (loss)				29	31
Distributions to noncontrolling interests				(43)	(62)
Other	[2]			1
Ending Balance		$ 349	$ 371	$ 349	$ 371
[1]	*Certain amounts have been reclassified to conform to current-period presentation. See Note 14–Cash Flow Information, in the Notes to the Consolidated Financial Statements.See Notes to Consolidated Financial Statements.
[2]	*Includes components of other comprehensive income, which are disclosed separately in the Consolidated Statement of Comprehensive Income.

Guarantees (Details)

Guarantees (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Guarantees (Textual) [Abstract]
Environmental accruals for known contamination in carrying amount recorded for indemnifications	$ 306	$ 344
Australia Pacific APLNG [Member]
Guarantees (Textual) [Abstract]
Ownership percentage in equity investment	37.50%
Train 1 and Train 2 [Member] | Australia Pacific APLNG [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments	$ 100
Terms of guarantees outstanding	2 years
Construction completion guarantee [Member] | Australia Pacific APLNG [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments	$ 3,200
Maximum potential amount of future payments based on current pro-rata share	3,100
Carrying value of the guarantee to third-party lenders	114
Continued development [Member] | Australia Pacific APLNG [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments	$ 170
Terms of guarantees outstanding	up to 30 years or the life of the venture
Other Guarantees [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments	$ 370
Terms of guarantees outstanding	up to nine years or the life of the venture
Number Of Joint Ventures Backed By Guarantee	1
Indemnifications [Member]
Guarantees (Textual) [Abstract]
Carrying value of the guarantee to third-party lenders	$ 90
Environmental accruals for known contamination in carrying amount recorded for indemnifications	40
Indemnifications [Member] | Refinery Supplier [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments	$ 1,700
Terms of guarantees outstanding	nine years
Carrying value of the guarantee to third-party lenders	$ 100
Carrying value of indemnification asset	100
Guarantee existing sales agreement of natural gas delivery | Australia Pacific APLNG [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments	1,200
Maximum potential amount of future payments under the guarantees in the event of intentional or reckless breach	$ 2,100
Terms of guarantees outstanding	1 to 27 years

Contingencies and Commitments (

Contingencies and Commitments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Contingencies and Commitments (Textual) [Abstract]
Total environmental accrual included in balance sheet	$ 306	$ 344
Expected years to incur the majority of expenditures	30 years
Letters of credit that secure performance obligations	$ 400
Tax Assessments Paid Under Protest	$ 237

Derivative and Financial Inst48

Derivative and Financial Instruments - Commodity Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	$ 2,386	$ 4,500
Other assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	112	157
Other accruals [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	2,398	4,426
Other liabilities and deferred credits [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	$ 101	$ 144

Derivative and Financial Inst49

Derivative and Financial Instruments - Commodity GainLoss (Details 1) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Sales and other operating revenues [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ 44	$ 184	$ 28	$ 421
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	2	1	1	2
Purchased commodities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ (47)	$ (163)	$ (3)	$ (384)

Derivative and Financial Inst50

Derivative and Financial Instruments - Commodity Notional (Details 2) - ft3 / D ft3 / D in Billions	Jun. 30, 2015	Dec. 31, 2014
Natural gas and power, Fixed price [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	(23)	(11)
Natural gas and power, Basis [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	(13)	18

Derivative and Financial Inst51

Derivative and Financial Instruments - FX Balance Sheet (Details 3) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative assets	$ 25	$ 1
Other Accruals [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative liabilities	$ 2	$ 1

Derivative and Financial Inst52

Derivative and Financial Instruments - FX GainLoss (Details 4) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Foreign currency transaction (gains) losses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency transaction (gains) losses	$ (37)	$ (7)	$ (13)	$ (7)

Derivative and Financial Inst53

Derivative and Financial Instruments - FX Notional (Details 5) - Foreign Currency Exchange Derivative [Member] £ in Millions, $ in Millions		Jun. 30, 2015GBP (£)	Jun. 30, 2015USD ($)	Dec. 31, 2014GBP (£)	Dec. 31, 2014USD ($)
Sell US Dollar Buy Other Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives | $	[1]		$ 55		$ 7
Buy U.S. dollar, sell other currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives | $	[2]		$ 20		$ 44
Buy British pound, sell other currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives	[3]	£ 309		£ 20
Sell British pound, buy euro [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives		£ 6
[1]	*Primarily Canadian dollar and British pound.
[2]	**Primarily Canadian dollar and Norwegian krone.
[3]	***Primarily Canadian dollar and euro.

Derivative and Financial Inst54

Derivative and Financial Instruments - Financial Instruments (Details 6) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	[1]	Dec. 31, 2013	[1]
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents Total	$ 3,813	$ 5,062	$ 6,142		$ 6,246
Cash and Cash Equivalents [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash	677	946
Time Deposits	$ 3,136	3,726
Commercial Paper		340
Money Market Funds		$ 50
[1]	*Certain amounts have been reclassified to conform to current-period presentation. See Note 14–Cash Flow Information, in the Notes to the Consolidated Financial Statements.See Notes to Consolidated Financial Statements.

Derivative and Financial Inst55

Derivative and Financial Instruments (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Schedule of Credit Risk [Line items]
Aggregate fair value of all derivative instruments in a liability position	$ 100	$ 150
Collateral was posted for derivative instruments in a liability position	0	$ 0
In event of downgrade below investment grade [Member]
Schedule of Credit Risk [Line items]
Additional collateral, either in the form of cash or letters of credit	$ 100
Trade receivables [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Terms of financial instruments and trade receivables	30 days

Fair Value Measurement - FV Hie

Fair Value Measurement - FV Hierarchy (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation investments	$ 27	$ 297
Commodity derivative asset, gross	2,498	4,657
Total assets	2,525	4,954
Commodity derivative liability, gross	2,499	4,570
Total liabilities	2,499	4,570
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation investments	27	297
Commodity derivative asset, gross	2,236	4,221
Total assets	2,263	4,518
Commodity derivative liability, gross	2,263	4,200
Total liabilities	2,263	4,200
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative asset, gross	192	361
Total assets	192	361
Commodity derivative liability, gross	224	354
Total liabilities	224	354
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative asset, gross	70	75
Total assets	70	75
Commodity derivative liability, gross	12	16
Total liabilities	$ 12	$ 16

Fair Value Measurement - FV of

Fair Value Measurement - FV of Commodity Derivatives (Details 1) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Offsetting Derivative Assets[Abstract]
Assets - gross amounts recognized	$ 2,498	$ 4,657
Assets - gross amounts offset	2,334	4,352
Assets - net amounts presented	164	305
Assets - cash collateral	0	8
Assets - amounts without right of setoff	12	28
Assets - net amounts	152	269
Offsetting Derivative Liabilities [Abstract]
Liabilities - gross amounts recognized	2,499	4,570
Liabilities - gross amounts offset	2,334	4,352
Liabilities - net amounts presented	165	218
Liabilities - cash collateral	28	4
Liabilities - amounts without right of setoff	9	22
Liabilities - net amounts	$ 128	$ 192

Faire Value Measurement - Nonre

Faire Value Measurement - Nonrecurring (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value - Net PP&E (held for use)	$ 42
Before-Tax Loss - Net PP&E (held for use)	70
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value - Net PP&E (held for use)	$ 42

Fair Value Measurement - FV o59

Fair Value Measurement - FV of Fin. Instruments (Details 2) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Financial Assets [Abstract]
Deferred compensation investments	$ 27	$ 297
Commodity derivatives, assets	164	305
Financial Liabilities [Abstract]
Commodity derivatives, liabilities	165	218
Carrying Amount [Member]
Financial Assets [Abstract]
Deferred compensation investments	27	297
Commodity derivatives, assets	164	297
Total loans and advances - related parties	861	913
Financial Liabilities [Abstract]
Total debt, excluding capital leases, carrying amount	24,068	21,707
Commodity derivatives, liabilities	137	214
Deferred Compensation Liquidation [Member]
Financial Assets [Abstract]
Deferred compensation investments	267
Fair Value [Member]
Financial Assets [Abstract]
Deferred compensation investments	27	297
Commodity derivatives, assets	164	297
Total loans and advances - related parties	861	913
Financial Liabilities [Abstract]
Total debt, excluding capital leases, fair value	26,746	25,191
Commodity derivatives, liabilities	$ 137	$ 214

Accumulated Other Comprehensi60

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated other comprehensive income in the equity section of the balance sheet included
Defined Benefit Plans, Beginning Balance			$ (1,261)
Foreign Currency Translation, Beginning Balance			(641)
Accumulated Other Comprehensive Income, Beginning Balance			(1,902)
Defined Benefit Plans	$ 161	$ 19	193	$ 45
Foreign Currency Translation	787	677	(1,932)	451
Other Comprehensive Income, Net of Tax	948	$ 696	(1,739)	$ 496
Defined Benefit Plans, Ending Balance	(1,068)		(1,068)
Foreign Currency Translation, Ending Balance	(2,573)		(2,573)
Accumulated Other Comprehensive Income, Ending Balance	$ (3,641)		$ (3,641)

Accumulated Other Comprehensi61

Accumulated Other Comprehensive Income (Details 1) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassification out of Accumulated Other Comprehensive Income [Abstract]
Defined Benefit Plans	[1],[2]	$ 64,000,000	$ 20,000,000	$ (96,000,000)	$ (40,000,000)
Tax expense of defined benefit plans		$ 35,000,000	$ 12,000,000	$ 52,000,000	$ 23,000,000
[1]	Above amounts are included in the computation of net periodic benefitcost and are presented net of tax expense of: $35,$12,$52,$23
[2]	See Note 15—Employee Benefit Plans, for additional information.

Cash Flow Information (Details)

Cash Flow Information (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2015		Jun. 30, 2014
Cash payments
Interest		$ 399		$ 311
Income taxes		172	[1]	2,321
Net Purchases of Short-Term Investments
Short-term investments purchased		0		(492)
Short-term investments sold		0		484
Net sale (purchases) of short-term investments	[2]			$ (8)
Accounting Changes And Error Corrections [Abstract]
Immaterial Error Correction				In relation to certain working capital changes associated with investing activities, we reclassified $84 million of the “Decrease in accounts payable” line within “Cash Flows From Operating Activities” to the “Working capital changes associated with investing activities” line within “Cash Flows From Investing Activities” for the six months ended June 30, 2014. There was no impact to “Cash and Cash Equivalents at End of Period.
Working capital changes associated with investing activities		$ (678)		$ 84	[2]
[1]	*Includes $556 million in 2015 related to a refund received from the Internal Revenue Service for 2014 overpaid taxes.
[2]	*Certain amounts have been reclassified to conform to current-period presentation. See Note 14–Cash Flow Information, in the Notes to the Consolidated Financial Statements.See Notes to Consolidated Financial Statements.

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Supplemental Unemployment Benefits [Line Items]
Foreign currency translation adjustments	$ 796,000,000	$ 668,000,000	$ (1,949,000,000)	$ 446,000,000
Employee Severance
Supplemental Unemployment Benefits [Line Items]
Severance Accrual	59,000,000		59,000,000		$ 61,000,000
Payments For Postemployment Benefits			(84,000,000)
Severance accrual current period change			88,000,000
Foreign currency translation adjustments			(2,000,000)
Short term portion of severance accrual	21,000,000		21,000,000
Employee Severance Accrual Reversal [Member]
Supplemental Unemployment Benefits [Line Items]
Severance accrual current period change			(4,000,000)
U.S. (Pension Benefits) [Member]
Components of Net Periodic Benefit Cost
Service cost	36,000,000	31,000,000	72,000,000	62,000,000
Interest cost	39,000,000	41,000,000	79,000,000	82,000,000
Expected return on plan assets	(53,000,000)	(53,000,000)	(107,000,000)	(106,000,000)
Amortization of prior service cost	1,000,000	2,000,000	3,000,000	3,000,000
Recognized net actuarial (gain) loss	29,000,000	19,000,000	57,000,000	38,000,000
Settlements	52,000,000	0	52,000,000	0
Net periodic benefit cost	104,000,000	40,000,000	156,000,000	79,000,000
Int'l (Pension Benefits) [Member]
Components of Net Periodic Benefit Cost
Service cost	31,000,000	28,000,000	63,000,000	56,000,000
Interest cost	34,000,000	42,000,000	68,000,000	84,000,000
Expected return on plan assets	(43,000,000)	(46,000,000)	(87,000,000)	(92,000,000)
Amortization of prior service cost	(2,000,000)	(2,000,000)	(4,000,000)	(4,000,000)
Recognized net actuarial (gain) loss	21,000,000	14,000,000	42,000,000	29,000,000
Net periodic benefit cost	41,000,000	36,000,000	82,000,000	73,000,000
Other Benefits [Member]
Components of Net Periodic Benefit Cost
Service cost	0		1,000,000	1,000,000
Interest cost	7,000,000	7,000,000	14,000,000	14,000,000
Amortization of prior service cost	(2,000,000)	(1,000,000)	(3,000,000)	(2,000,000)
Recognized net actuarial (gain) loss	0		1,000,000	(1,000,000)
Net periodic benefit cost	$ 5,000,000	$ 6,000,000	$ 13,000,000	$ 12,000,000

Employee Benefit Plans (Detai64

Employee Benefit Plans (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Employee Benefit Plans (Textual) [Abstract]
Increase in pension liability	$ 15,000,000	$ 0	$ 15,000,000	$ 0
U.S. (Pension Benefits) [Member]
Employee Benefit Plans (Textual) [Abstract]
Company contributions			34,000,000
Expected company contributions			110,000,000
Int'l (Pension Benefits) [Member]
Employee Benefit Plans (Textual) [Abstract]
Company contributions			71,000,000
Expected company contributions			120,000,000
Europe [Member]
Employee Benefit Plans (Textual) [Abstract]
Special pension termination benefits	10,000,000		$ 60,000,000
Special pension termination benefits recoverable from partner			62.00%
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Defined Benefit Plan Benefit Obligation	154,000,000
Defined Benefit Plan Plan Amendments	140,000,000
Defined Benefit Plan Actuarial Gain Loss	$ 14,000,000
Defined benefit plan health care cost trend rate	2.00%
Defined benefit plan ultimate health care cost	5.00%
CostSharingChangesforRetirees [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Defined Benefit Plan Plan Amendments	$ 91,000,000
Excluding Phillips Employees and Retirees [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Defined Benefit Plan Plan Amendments	$ 49,000,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Significant transactions with related parties
Operating revenues and other income		$ 27	$ 36	$ 52	$ 57
Purchases		25	52	47	100
Operating expenses and selling, general and administrative expenses	[1]	17	14	35	32
Net interest (income) expense	[2]	$ (2)	$ (12)	$ (4)	$ (24)
[1]	*2014 has been restated to eliminate certain non-related party transactions.
[2]	**We paid interest to, or received interest from, various affiliates. See Note 4—Investments, Loans and Long-Term Receivables, for additionalinformation on loans to affiliated companies.

Segment Disclosures and Relat66

Segment Disclosures and Related Information - Sales (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 8,293	$ 13,821	$ 16,009	$ 29,236
Alaska [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,338	2,407	2,388	4,593
Lower 48 Before Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	3,176	5,530	6,315	12,114
Intersegment Eliminations before Lower 48 and Latin America [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	(13)	(22)	(35)	(60)
Lower 48 [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	3,163	5,508	6,280	12,054
Canada before Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	653	1,168	1,356	3,027
Intersegment Eliminations before Canada [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	(79)	(145)	(189)	(490)
Canada [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	574	1,023	1,167	2,537
Europe before Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,775	2,745	3,329	5,954
Intersegment Eliminations before Europe [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	(1)	(44)	(1)	(44)
Europe [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,774	2,701	3,328	5,910
Asia Pacific Before Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,286	2,151	2,674	4,100
Other International [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	3	(5)	5
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 158	$ 28	$ 177	$ 37

Segment Disclosures and Relat67

Segment Disclosures and Related Information - Net Income (Details 1) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	$ (179)	$ 2,081	$ 93	$ 4,204
Alaska [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	195	627	340	1,225
Lower 48 [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	(293)	265	(698)	589
Canada [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	(166)	182	(324)	538
Europe [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	37	259	674	606
Asia Pacific and Middle East [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	328	845	723	1,587
Other International [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	(148)	121	(241)	92
Corporate and Other [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	(132)	(251)	(381)	(486)
Discontinued operations [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	$ 0	$ 33	$ 0	$ 53

Segment Disclosures and Relat68

Segment Disclosures and Related Information (Details Textual)	6 Months Ended
	Jun. 30, 2015
Segment Disclosures and Related Information (Textual) [Abstract]
Number of operating segments	6

Segment Disclosures and Relat69

Segment Disclosures and Related Information - Assets (Details 2) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Assets [Abstract]
Consolidated total assets	$ 112,003	$ 116,539
Alaska [Member]
Assets [Abstract]
Consolidated total assets	13,193	12,655
Lower 48 [Member]
Assets [Abstract]
Consolidated total assets	29,545	30,185
Canada [Member]
Assets [Abstract]
Consolidated total assets	20,623	21,764
Europe [Member]
Assets [Abstract]
Consolidated total assets	15,420	16,125
Asia Pacific and Middle East [Member]
Assets [Abstract]
Consolidated total assets	25,136	25,976
Other International [Member]
Assets [Abstract]
Consolidated total assets	1,645	1,961
Corporate and Other [Member]
Assets [Abstract]
Consolidated total assets	6,441	7,815
Discontinued operations [Member]
Assets [Abstract]
Consolidated total assets	$ 0	$ 58

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Taxes (Textual) [Abstract]
Effective tax rate	(80.00%)	40.00%	127.00%	42.00%
Canada [Member]
Current Income Tax Expense Benefit [Line Items]
Tax Benefit/Expense			$ 129
Corporation Tax Rate pre legislation			25.00%
Corporation Tax Rate post legislation			27.00%
United Kingdom [Member]
Current Income Tax Expense Benefit [Line Items]
Tax Benefit/Expense			$ 555
Corporation Tax Rate pre legislation			62.00%
Corporation Tax Rate post legislation			50.00%

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Jul. 15, 2015
Gulf of Mexico
Subsequent Event [Line Items]
Subsequent Events Date	Jul. 1, 2015
Termination Fee [Member]
Subsequent Event [Line Items]
Exploration Expense	$ 400
Capitalized Rig Costs [Member]
Subsequent Event [Line Items]
Exploration Expense	$ 60

Supplementary Information - C72

Supplementary Information - Condensed Consolidating Financial Information - Inc Stmt (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues and Other Income
Sales and other operating revenues		$ 8,293	$ 13,821	$ 16,009	$ 29,236
Equity in earnings of affiliates		258	672	463	1,244
Gain (loss) on dispositions		52	7	104	16
Other income		57	201	86	253
Total Revenues and Other Income		8,660	14,701	16,662	30,749
Costs and Expenses
Purchased commodities		3,230	5,495	6,467	12,622
Production and operating expenses		1,798	2,030	3,600	3,925
Selling, general and administrative expenses		218	218	377	400
Exploration expenses		549	517	1,031	813
Depreciation, depletion and amortization		2,329	2,070	4,460	3,962
Impairments		78	17	94	18
Taxes other than income taxes		225	612	449	1,263
Accretion on discounted liabilities		122	120	243	237
Interest and debt expense		210	155	412	326
Foreign currency transaction (gains) losses		(8)	7	(24)	25
Total Costs and Expenses		8,751	11,241	17,109	23,591
Income (loss) from continuing operations before income taxes		(91)	3,460	(447)	7,158
Provision (benefit) for income taxes		73	1,395	(569)	2,976
Income (Loss) From Continuing Operations		(164)	2,065	122	4,182
Income (loss) from discontinued operations	[1]		33		53
Net income (loss)		(164)	2,098	122	4,235
Less: net income attributable to noncontrolling interests		(15)	(17)	(29)	(31)
Net Income (Loss)		(179)	2,081	93	4,204
Comprehensive Income (Loss) Attributable to ConocoPhillips		769	2,777	(1,646)	4,700
ConocoPhillips [Member]
Revenues and Other Income
Equity in earnings of affiliates		(120)	2,119	261	4,331	[2]
Other income		0		0
Intercompany revenues		18	19	37	39	[2]
Total Revenues and Other Income		(102)	2,138	298	4,370
Costs and Expenses
Selling, general and administrative expenses		3	3	6	6
Interest and debt expense		121	148	242	307	[2]
Foreign currency transaction (gains) losses		(16)	(22)	47	3
Total Costs and Expenses		108	129	295	316
Income (loss) from continuing operations before income taxes		(210)	2,009	3	4,054
Provision (benefit) for income taxes		(31)	(39)	(90)	(97)
Income (Loss) From Continuing Operations		(179)	2,048	93	4,151
Income (loss) from discontinued operations			33		53
Net income (loss)		(179)	2,081	93	4,204
Net Income (Loss)		(179)	2,081	93	4,204
Comprehensive Income (Loss) Attributable to ConocoPhillips		769	2,777	(1,646)	4,700
ConocoPhillips Company [Member]
Revenues and Other Income
Sales and other operating revenues		3,102	5,105	6,035	11,248
Equity in earnings of affiliates		215	2,514	1,028	4,965	[2]
Gain (loss) on dispositions		2	2	33	1
Other income		10	27	17	45
Intercompany revenues		82	111	180	265	[2]
Total Revenues and Other Income		3,411	7,759	7,293	16,524
Costs and Expenses
Purchased commodities		2,568	4,431	5,128	9,948
Production and operating expenses		395	481	795	841
Selling, general and administrative expenses		162	156	282	280
Exploration expenses		143	238	343	382
Depreciation, depletion and amortization		301	261	560	503
Impairments		0	17	0	18
Taxes other than income taxes		50	71	119	164
Accretion on discounted liabilities		15	15	29	29
Interest and debt expense		111	62	212	132	[2]
Foreign currency transaction (gains) losses		1	2	0	2
Total Costs and Expenses		3,746	5,734	7,468	12,299
Income (loss) from continuing operations before income taxes		(335)	2,025	(175)	4,225
Provision (benefit) for income taxes		(215)	(94)	(436)	(106)
Income (Loss) From Continuing Operations		(120)	2,119	261	4,331
Income (loss) from discontinued operations			33		53
Net income (loss)		(120)	2,152	261	4,384
Net Income (Loss)		(120)	2,152	261	4,384
Comprehensive Income (Loss) Attributable to ConocoPhillips		828	2,848	(1,478)	4,880
ConocoPhillips Canada Funding Company I [Member]
Revenues and Other Income
Intercompany revenues		63	71	127	142	[2]
Total Revenues and Other Income		63	71	127	142
Costs and Expenses
Selling, general and administrative expenses		0		0	0
Interest and debt expense		57	58	114	116	[2]
Foreign currency transaction (gains) losses		146	151	(232)	12
Total Costs and Expenses		203	209	(118)	128
Income (loss) from continuing operations before income taxes		(140)	(138)	245	14
Provision (benefit) for income taxes		(20)	(4)	(9)	(2)
Income (Loss) From Continuing Operations		(120)	(134)	254	16
Net income (loss)		(120)	(134)	254	16
Net Income (Loss)		(120)	(134)	254	16
Comprehensive Income (Loss) Attributable to ConocoPhillips		(33)	(14)	(3)	(5)
All Other Subsidiaries [Member]
Revenues and Other Income
Sales and other operating revenues		5,191	8,716	9,974	17,988
Equity in earnings of affiliates		138	539	716	1,260	[2]
Gain (loss) on dispositions		50	5	71	15
Other income		47	174	69	208
Intercompany revenues		952	1,598	1,795	3,241	[2]
Total Revenues and Other Income		6,378	11,032	12,625	22,712
Costs and Expenses
Purchased commodities		1,610	2,631	3,104	5,921
Production and operating expenses		1,405	1,596	2,839	3,134
Selling, general and administrative expenses		53	59	98	128
Exploration expenses		406	279	688	431
Depreciation, depletion and amortization		2,028	1,809	3,900	3,459
Impairments		78	0	94	0
Taxes other than income taxes		175	541	330	1,099
Accretion on discounted liabilities		107	105	214	208
Interest and debt expense		86	72	175	147	[2]
Foreign currency transaction (gains) losses		(139)	(124)	161	8
Total Costs and Expenses		5,809	6,968	11,603	14,535
Income (loss) from continuing operations before income taxes		569	4,064	1,022	8,177
Provision (benefit) for income taxes		339	1,532	(34)	3,181
Income (Loss) From Continuing Operations		230	2,532	1,056	4,996
Income (loss) from discontinued operations			33		53
Net income (loss)		230	2,565	1,056	5,049
Less: net income attributable to noncontrolling interests		(15)	(17)	(29)	(31)
Net Income (Loss)		215	2,548	1,027	5,018
Comprehensive Income (Loss) Attributable to ConocoPhillips		988	3,220	(886)	5,475
Consolidating Adjustments [Member]
Revenues and Other Income
Equity in earnings of affiliates		25	(4,500)	(1,542)	(9,312)	[2]
Intercompany revenues		(1,115)	(1,799)	(2,139)	(3,687)	[2]
Total Revenues and Other Income		(1,090)	(6,299)	(3,681)	(12,999)
Costs and Expenses
Purchased commodities		(948)	(1,567)	(1,765)	(3,247)
Production and operating expenses		(2)	(47)	(34)	(50)
Selling, general and administrative expenses		0	0	(9)	(14)
Interest and debt expense		(165)	(185)	(331)	(376)	[2]
Total Costs and Expenses		(1,115)	(1,799)	(2,139)	(3,687)
Income (loss) from continuing operations before income taxes		25	(4,500)	(1,542)	(9,312)
Income (Loss) From Continuing Operations		25	(4,500)	(1,542)	(9,312)
Income (loss) from discontinued operations			(66)		(106)
Net income (loss)		25	(4,566)	(1,542)	(9,418)
Net Income (Loss)		25	(4,566)	(1,542)	(9,418)
Comprehensive Income (Loss) Attributable to ConocoPhillips		$ (1,783)	$ (6,054)	$ 2,367	$ (10,350)
[1]	*Net of provision (benefit) for income taxes on discontinued operations of: $0,$-10,$0,$22See Notes to Consolidated Financial Statements.
[2]	*"Interest and debt expense" for ConocoPhillips was revised to reflect contractually agreed interest rates, with offsetting adjustments in the "Equity in earnings of affiliates" and "Intercompany revenues" lines for ConocoPhillips, ConocoPhillips Company and All Other Subsidiaries. There was no impact to Total Consolidated balances.

Supplementary Information - C73

Supplementary Information - Condensed Consolidating Financial Information - Bal Sheet (Details 1) - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	[1]	Dec. 31, 2013
Assets
Cash and cash equivalents		$ 3,813	$ 5,062	$ 6,142		$ 6,246	[1]
Accounts and notes receivable		5,179	6,807
Inventories		1,277	1,331
Prepaid expenses and other current assets		1,675	1,868
Total Current Assets		11,944	15,068
Investments, loans and long-term receivables	[2]	24,652	25,139
Net properties, plants and equipment		74,387	75,444
Other assets		1,020	888
Total Assets		112,003	116,539
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		5,869	8,026
Short-term debt		138	182
Accrued income and other taxes		880	1,051
Employee benefit obligations		620	878
Other accruals		1,227	1,400
Total Current Liabilities		8,734	11,537
Long-term debt		24,787	22,383
Asset retirement obligations and accrued environmental costs		10,567	10,647
Deferred income taxes		14,373	15,070
Employee benefit obligations		2,849	2,964
Other liabilities and deferred credits		1,724	1,665
Total Liabilities		63,034	64,266
Retained earnings		42,779	44,504
Other common stockholders' equity		5,841	7,407
Noncontrolling interests		349	362
Total Liabilities and Stockholders' Equity		112,003	116,539
ConocoPhillips [Member]
Assets
Cash and cash equivalents	[1]					0
Accounts and notes receivable		12	20
Prepaid expenses and other current assets		1	6
Total Current Assets		13	26
Investments, loans and long-term receivables	[2]	52,063	55,568
Net properties, plants and equipment			0
Other assets		7	40
Total Assets		52,083	55,634
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable			1
Short-term debt		(9)	(5)
Accrued income and other taxes			0
Employee benefit obligations			0
Other accruals		170	170
Total Current Liabilities		161	166
Long-term debt		7,513	7,541
Other liabilities and deferred credits	[2]	2,348	2,577
Total Liabilities		10,022	10,284
Retained earnings		36,258	37,983
Other common stockholders' equity		5,803	7,367
Total Liabilities and Stockholders' Equity		52,083	55,634
ConocoPhillips Company [Member]
Assets
Cash and cash equivalents		35	770	1,601		2,434	[1]
Accounts and notes receivable		1,950	2,813
Inventories		199	281
Prepaid expenses and other current assets		656	754
Total Current Assets		2,840	4,618
Investments, loans and long-term receivables	[2]	70,361	70,732
Net properties, plants and equipment		9,924	9,730
Other assets		143	67
Total Assets		83,268	85,147
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		4,153	4,149
Short-term debt		1	6
Accrued income and other taxes		128	117
Employee benefit obligations		445	595
Other accruals		273	337
Total Current Liabilities		5,000	5,204
Long-term debt		10,661	8,197
Asset retirement obligations and accrued environmental costs		1,320	1,328
Deferred income taxes		331	265
Employee benefit obligations		1,991	2,162
Other liabilities and deferred credits	[2]	6,845	7,391
Total Liabilities		26,148	24,547
Retained earnings		21,707	21,448
Other common stockholders' equity		35,413	39,152
Noncontrolling interests			0
Total Liabilities and Stockholders' Equity		83,268	85,147
ConocoPhillips Canada Funding Company I [Member]
Assets
Cash and cash equivalents		8	7	260		229	[1]
Accounts and notes receivable		15	22
Prepaid expenses and other current assets		20	15
Total Current Assets		43	44
Investments, loans and long-term receivables	[2]	3,777	3,965
Other assets		300	208
Total Assets		4,120	4,217
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		4	14
Short-term debt		5	5
Other accruals		63	71
Total Current Liabilities		72	90
Long-term debt		2,969	2,974
Other liabilities and deferred credits	[2]	1,072	1,142
Total Liabilities		4,113	4,206
Retained earnings		(842)	(1,096)
Other common stockholders' equity		849	1,107
Total Liabilities and Stockholders' Equity		4,120	4,217
All Other Subsidiaries [Member]
Assets
Cash and cash equivalents		3,770	4,285	$ 4,281		3,583	[1]
Short-term investments		0	0
Accounts and notes receivable		6,492	6,671
Inventories		1,078	1,050
Prepaid expenses and other current assets		1,043	1,138
Total Current Assets		12,383	13,144
Investments, loans and long-term receivables	[2]	30,775	32,467
Net properties, plants and equipment		64,463	65,714
Other assets		1,310	1,338
Total Assets		108,931	112,663
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		5,002	6,581
Short-term debt		141	176
Accrued income and other taxes		752	934
Employee benefit obligations		175	283
Other accruals		766	868
Total Current Liabilities		6,836	8,842
Long-term debt		3,644	3,671
Asset retirement obligations and accrued environmental costs		9,247	9,319
Deferred income taxes		14,048	14,811
Employee benefit obligations		858	802
Other liabilities and deferred credits	[2]	16,542	17,218
Total Liabilities		51,175	54,663
Retained earnings		18,366	17,355
Other common stockholders' equity		39,041	40,283
Noncontrolling interests		349	362
Total Liabilities and Stockholders' Equity		108,931	112,663
Consolidating Adjustments [Member]
Assets
Cash and cash equivalents	[1]					$ 0
Accounts and notes receivable		(3,290)	(2,719)
Prepaid expenses and other current assets		(45)	(45)
Total Current Assets		(3,335)	(2,764)
Investments, loans and long-term receivables	[2]	(132,324)	(137,593)
Other assets		(740)	(765)
Total Assets		(136,399)	(141,122)
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		(3,290)	(2,719)
Accrued income and other taxes			0
Other accruals		(45)	(46)
Total Current Liabilities		(3,335)	(2,765)
Deferred income taxes		(6)	(6)
Other liabilities and deferred credits	[2]	(25,083)	(26,663)
Total Liabilities		(28,424)	(29,434)
Retained earnings		(32,710)	(31,186)
Other common stockholders' equity		(75,265)	(80,502)
Total Liabilities and Stockholders' Equity		$ (136,399)	$ (141,122)
[1]	*Certain amounts have been reclassified to conform to current-period presentation. See Note 14–Cash Flow Information, in the Notes to the Consolidated Financial Statements.See Notes to Consolidated Financial Statements.
[2]	*Includes intercompany loans.

Supplementary Information - C74

Supplementary Information - Condensed Consolidating Financial Information - Bal Sheet (Details Textual) $ in Billions	Jun. 30, 2015USD ($)
ConocoPhillips [Member]
Condensed Financial Statements, Captions [Line Items]
Intercompany other liabilities	$ 2
Intercompany Investment	(2)
ConocoPhillips Company [Member]
Condensed Financial Statements, Captions [Line Items]
Intercompany other liabilities	(2)
Intercompany return of capital	$ 2

Supplementary Information - C75

Supplementary Information - Condensed Consolidating Financial Information - Cash Flow (Details 2) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014
Cash Flows From Operating Activities
Net cash provided by (used in) continuing operating activities		$ 4,042	$ 9,757	[1]
Net cash provided by (used in) discontinued operations		0	130	[1]
Net Cash Provided by (Used in) Operating Activities		4,042	9,887	[1]
Cash Flows From Investing Activities
Capital expenditures and investments		(5,739)	(8,141)	[1]
Working capital changes associated with investing activities		(678)	84	[1]
Proceeds from asset dispositions		294	63	[1]
Net sales (purchases) of short-term investments	[1]		(8)
Collection of advances/loans-related parties		52	77	[1]
Other		291	96	[1]
Net cash provided by (used in) continuing investing activities		(5,780)	(7,829)	[1]
Net cash used in discontinued operations		0	(63)	[1]
Net Cash Provided by (Used in) Investing Activities		(5,780)	(7,892)	[1]
Cash Flows From Financing Activities
Issuance of debt		2,498
Repayment of debt		(62)	(450)	[1]
Issuance of company common stock		(46)	46	[1]
Dividends paid		(1,819)	(1,711)	[1]
Other		(35)	(28)	[1]
Net cash provided by (used in) continuing financing activities		536	(2,143)	[1]
Net Cash Provided by (Used in) Financing Activities		536	(2,143)	[1]
Effect of Exchange Rate Changes on Cash and Cash Equivalents		(47)	44	[1]
Net Change in Cash and Cash Equivalents		(1,249)	(104)	[1]
Cash and cash equivalents at beginning of period		5,062	6,246	[1]
Cash and Cash Equivalents at End of Period		3,813	6,142	[1]
ConocoPhillips [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) continuing operating activities		(124)	14,876	[1]
Net cash provided by (used in) discontinued operations	[1]		0
Net Cash Provided by (Used in) Operating Activities		(124)	14,876	[1]
Cash Flows From Investing Activities
Capital expenditures and investments	[1]		0
Working capital changes associated with investing activities	[1]		0
Proceeds from asset dispositions		2,000	16,912	[1]
Net sales (purchases) of short-term investments	[1]		0
Long-term advances/loans-related parties	[1]		0
Collection of advances/loans-related parties	[1]		0
Intercompany cash management		(231)	(29,908)	[1]
Other	[1]		0
Net cash provided by (used in) continuing investing activities		1,769	(12,996)	[1]
Net cash used in discontinued operations	[1]		0
Net Cash Provided by (Used in) Investing Activities		1,769	(12,996)	[1]
Cash Flows From Financing Activities
Repayment of debt		0	(400)	[1]
Issuance of company common stock		172	234	[1]
Dividends paid		(1,819)	(1,711)	[1]
Other		2	(3)	[1]
Net cash provided by (used in) continuing financing activities		(1,645)	(1,880)	[1]
Net cash provided by (used in) discontinued operations	[1]		0
Net Cash Provided by (Used in) Financing Activities		(1,645)	(1,880)	[1]
Net Change in Cash and Cash Equivalents	[1]		0
Cash and cash equivalents at beginning of period	[1]		0
ConocoPhillips Company [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) continuing operating activities		348	55	[1]
Net cash provided by (used in) discontinued operations		0	170	[1]
Net Cash Provided by (Used in) Operating Activities		348	225	[1]
Cash Flows From Investing Activities
Capital expenditures and investments		(1,642)	(1,981)	[1]
Working capital changes associated with investing activities		(27)	40	[1]
Proceeds from asset dispositions		94	13	[1]
Net sales (purchases) of short-term investments	[1]		0
Long-term advances/loans-related parties		(179)	(546)	[1]
Collection of advances/loans-related parties		0	30	[1]
Intercompany cash management		(574)	33,248	[1]
Other		292	103	[1]
Net cash provided by (used in) continuing investing activities		(2,036)	30,907	[1]
Net cash used in discontinued operations		0	(1)	[1]
Net Cash Provided by (Used in) Investing Activities		(2,036)	30,906	[1]
Cash Flows From Financing Activities
Issuance of debt		3,049
Repayment of debt		(100)	0	[1]
Issuance of company common stock	[1]		0
Dividends paid		0	(15,088)	[1]
Other		(1,996)	(16,876)	[1]
Net cash provided by (used in) continuing financing activities		953	(31,964)	[1]
Net cash provided by (used in) discontinued operations	[1]		0
Net Cash Provided by (Used in) Financing Activities		953	(31,964)	[1]
Net Change in Cash and Cash Equivalents		(735)	(833)	[1]
Cash and cash equivalents at beginning of period		770	2,434	[1]
Cash and Cash Equivalents at End of Period		35	1,601	[1]
ConocoPhillips Canada Funding Company I [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) continuing operating activities		1	31	[1]
Net cash provided by (used in) discontinued operations	[1]		0
Net Cash Provided by (Used in) Operating Activities		1	31	[1]
Cash Flows From Investing Activities
Capital expenditures and investments	[1]		0
Working capital changes associated with investing activities	[1]		0
Proceeds from asset dispositions	[1]		0
Net sales (purchases) of short-term investments	[1]		0
Long-term advances/loans-related parties	[1]		0
Collection of advances/loans-related parties	[1]		0
Intercompany cash management	[1]		0
Other	[1]		0
Net cash provided by (used in) continuing investing activities	[1]		0
Net cash used in discontinued operations	[1]		0
Net Cash Provided by (Used in) Investing Activities	[1]		0
Cash Flows From Financing Activities
Repayment of debt	[1]		0
Issuance of company common stock	[1]		0
Dividends paid	[1]		0
Other	[1]		0
Net cash provided by (used in) continuing financing activities	[1]		0
Net cash provided by (used in) discontinued operations	[1]		0
Net Cash Provided by (Used in) Financing Activities	[1]		0
Net Change in Cash and Cash Equivalents		1	31	[1]
Cash and cash equivalents at beginning of period		7	229	[1]
Cash and Cash Equivalents at End of Period		8	260	[1]
All Other Subsidiaries [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) continuing operating activities		3,623	9,868	[1]
Net cash provided by (used in) discontinued operations		0	232	[1]
Net Cash Provided by (Used in) Operating Activities		3,623	10,100	[1]
Cash Flows From Investing Activities
Capital expenditures and investments		(4,773)	(7,106)	[1]
Working capital changes associated with investing activities		(651)	44	[1]
Proceeds from asset dispositions		205	60	[1]
Net sales (purchases) of short-term investments	[1]		(8)
Long-term advances/loans-related parties		(551)	(7)	[1]
Collection of advances/loans-related parties		152	47	[1]
Intercompany cash management		805	(3,340)	[1]
Other		(1)	(7)	[1]
Net cash provided by (used in) continuing investing activities		(4,814)	(10,317)	[1]
Net cash used in discontinued operations		0	(63)	[1]
Net Cash Provided by (Used in) Investing Activities		(4,814)	(10,380)	[1]
Cash Flows From Financing Activities
Issuance of debt		179	553	[1]
Repayment of debt		(62)	(50)	[1]
Issuance of company common stock	[1]		0
Dividends paid		(24)	(275)	[1]
Other		630	875	[1]
Net cash provided by (used in) continuing financing activities		723	1,103	[1]
Net cash provided by (used in) discontinued operations		0	(169)	[1]
Net Cash Provided by (Used in) Financing Activities		723	934	[1]
Effect of Exchange Rate Changes on Cash and Cash Equivalents		(47)	44	[1]
Net Change in Cash and Cash Equivalents		(515)	698	[1]
Cash and cash equivalents at beginning of period		4,285	3,583	[1]
Cash and Cash Equivalents at End of Period		3,770	4,281	[1]
Consolidating Adjustments [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) continuing operating activities		194	(15,073)	[1]
Net cash provided by (used in) discontinued operations		0	(272)	[1]
Net Cash Provided by (Used in) Operating Activities		194	(15,345)	[1]
Cash Flows From Investing Activities
Capital expenditures and investments		676	946	[1]
Working capital changes associated with investing activities	[1]		0
Proceeds from asset dispositions		(2,005)	(16,922)	[1]
Net sales (purchases) of short-term investments	[1]		0
Long-term advances/loans-related parties		730	553	[1]
Collection of advances/loans-related parties		(100)	0	[1]
Intercompany cash management	[1]		0
Other	[1]		0
Net cash provided by (used in) continuing investing activities		(699)	(15,423)	[1]
Net cash used in discontinued operations		0	1	[1]
Net Cash Provided by (Used in) Investing Activities		(699)	(15,422)	[1]
Cash Flows From Financing Activities
Issuance of debt		(730)	(553)	[1]
Repayment of debt		100	0	[1]
Issuance of company common stock		(218)	(188)	[1]
Dividends paid		24	15,363	[1]
Other		1,329	15,976	[1]
Net cash provided by (used in) continuing financing activities		505	30,598	[1]
Net cash provided by (used in) discontinued operations		0	169	[1]
Net Cash Provided by (Used in) Financing Activities		$ 505	30,767	[1]
Net Change in Cash and Cash Equivalents	[1]		0
Cash and cash equivalents at beginning of period	[1]		$ 0
[1]	*Certain amounts have been reclassified to conform to current-period presentation. See Note 14–Cash Flow Information, in the Notes to the Consolidated Financial Statements.See Notes to Consolidated Financial Statements.