ConocoPhillips (COP) 10-Q 2 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2016shares
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, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	1,238,505,159
Trading Symbol	COP

Consolidated Income Statement

Consolidated Income Statement - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues and Other Income
Sales and other operating revenues	$ 5,348	$ 8,293	$ 10,469	$ 16,009
Equity in earnings (losses) of affiliates	80	258	(69)	463
Gain on Dispositions	128	52	151	104
Other income	19	57	39	86
Total Revenues and Other Income	5,575	8,660	10,590	16,662
Costs and Expenses
Purchased commodities	2,002	3,230	4,227	6,467
Production and operating expenses	1,445	1,798	2,799	3,600
Selling, general and administrative expenses	167	218	353	377
Exploration expenses	610	549	1,115	1,031
Depreciation, depletion and amortization	2,329	2,329	4,576	4,460
Impairments	62	78	198	94
Taxes other than Income Taxes	197	225	377	449
Accretion on discounted liabilities	112	122	221	243
Interest and debt expense	312	210	593	412
Foreign currency transaction (gains) losses	(17)	(8)	(1)	(24)
Total Costs and Expenses	7,219	8,751	14,458	17,109
Income (Loss) before income taxes	(1,644)	(91)	(3,868)	(447)
Income tax provision (benefit)	(586)	73	(1,354)	(569)
Net income (loss)	(1,058)	(164)	(2,514)	122
Less: net income attributable to noncontrolling interests	(13)	(15)	(26)	(29)
Net Income (Loss) Attributable to ConocoPhillips	$ (1,071)	$ (179)	$ (2,540)	$ 93
Earnings Per Share, Basic [Abstract]
Earnings Per Share, Basic	$ (0.86)	$ (0.15)	$ (2.04)	$ 0.07
Earnings Per Share, Diluted [Abstract]
Earnings Per Share, Diluted	(0.86)	(0.15)	(2.04)	0.07
Dividends Paid Per Share of Common Stock (dollars)	$ 0.25	$ 0.73	$ 0.5	$ 1.46
Average Common Shares Outstanding (in thousands)
Basic	1,244,892	1,241,026	1,244,724	1,240,909
Diluted	1,244,892	1,241,026	1,244,724	1,246,130

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016		Jun. 30, 2015	Jun. 30, 2016		Jun. 30, 2015
Consolidated Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (1,058)		$ (164)	$ (2,514)		$ 122
Defined benefit plans
Prior service credit (cost) arising during the period			140			140
Reclassification adjustment for amortization of prior service cost (credit) included in net income	(9)		(3)	(18)		(4)
Net actuarial gain (loss) arising during the period	(69)		15	(300)		15
Reclassification adjustment for amortization of net actuarial losses included in net income	74		102	182		152
Income taxes on defined benefit plans	3		(93)	53		(110)
Defined benefit plans, net of tax	(1)		161	(83)		193
Foreign currency translation adjustments	(224)		796	959		(1,949)
Income taxes on foreign currency translation adjustments	0		(9)	0		17
Foreign currency translation adjustments, net of tax	(224)	[1]	787	959	[1]	(1,932)
Other Comprehensive Income (Loss), Net of Tax	(225)		948	876		(1,739)
Comprehensive Income (Loss)	(1,283)		784	(1,638)		(1,617)
Less: comprehensive income attributable to noncontrolling interests	(13)		(15)	(26)		(29)
Comprehensive Income (Loss) Attributable to ConocoPhillips	$ (1,296)		$ 769	$ (1,664)		$ (1,646)
[1]	Foreign Currency Translation increased due to the weakening of the U.S. dollar relative to the Canadian dollar, Australian dollar and Norwegian krone.

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 2,863	$ 2,368
Short-term investments	1,289
Accounts and notes receivable (net of allowance of $5 million in 2016 and $7 million in 2015)	3,144	4,314
Accounts and notes receivable-related parties	172	200
Inventories	1,150	1,124
Prepaid expenses and other current assets	641	783
Total Current Assets	9,259	8,789
Investments and long-term receiavables	21,385	20,490
Loans and advances-related parties	639	696
Net properties, plants and equipment (net of accumulated depreciation, depletion and amortization of $74,243 million in 2016 and $70,413 million in 2015)	63,685	66,446
Other assets	1,086	1,063
Total Assets	96,054	97,484
Liabilities
Accounts payable	3,746	4,895
Accounts payable-related parties	72	38
Short-term debt	1,331	1,427
Accrued income and other taxes	554	499
Employee benefit obligations	538	887
Other accruals	1,107	1,510
Total Current Liabilities	7,348	9,256
Long-term debt	27,346	23,453
Asset retirement obligations and accrued environmental costs	9,820	9,580
Deferred income taxes	9,655	10,999
Employee benefit obligations	2,533	2,286
Other liabilities and deferred credits	1,521	1,828
Total Liabilities	58,223	57,402
Equity
Common stock (2,500,000,000 shares authorized at $.01 par value)	18	18
Capital in excess of par	46,429	46,357
Treasury stock (at cost: 2016-542,230,673 shares; 2015-542,230,673 shares)	(36,780)	(36,780)
Accumulated other comprehensive income (loss)	(5,371)	(6,247)
Retained earnings	33,248	36,414
Total Common Stockholders' Equity	37,544	39,762
Noncontrolling interests	287	320
Total Equity	37,831	40,082
Total Liabilities and Equity	$ 96,054	$ 97,484

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Consolidated Balance Sheet [Abstract]
Allowance for accounts and notes receivable	$ 5	$ 7
Accumulated depreciation, depletion and amortization	$ 74,243	$ 70,413
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	1,780,735,832	1,778,226,388
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, 2016	Jun. 30, 2015
Cash Flows From Operating Activities
Net income (loss)	$ (2,514)	$ 122
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation, depletion and amortization	4,576	4,460
Impairments	198	94
Dry hole costs and leasehold impairments	823	713
Accretion on discounted liabilities	221	243
Deferred taxes	(1,457)	(602)
Distributions received greater than equity losses (undistributed equity earnings)	222	(41)
Gain on dispositions	(151)	(104)
Other	(17)	(454)
Working capital adjustments
Decrease (increase) in accounts and notes receivable	1,097	1,419
Decrease (increase) in inventories	(23)	42
Decrease (increase) in prepaid expenses and other current assets	(51)	153
Increase (decrease) in accounts payable	(454)	(1,358)
Increase (decrease) in taxes and other accruals	(790)	(645)
Net Cash Provided by Operating Activities	1,680	4,042
Cash Flows From Investing Activities
Capital expenditures and investments	(2,954)	(5,739)
Working capital changes associated with investing activities	(363)	(678)
Proceeds from asset dispositions	363	294
Net sales (purchases) of short-term investments	(1,292)
Collection of advances/loans-related parties	53	52
Other	6	291
Net Cash Used in Investing Activities	(4,187)	(5,780)
Cash Flows From Financing Activities
Issuance of debt	4,594	2,498
Repayment of debt	(827)	(62)
Issuance of company common stock	(45)	(46)
Dividends paid	(626)	(1,819)
Other	(79)	(35)
Net Cash Provided by (Used in) Financing Activities	3,017	536
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(15)	(47)
Net Change in Cash and Cash Equivalents	495	(1,249)
Cash and cash equivalents at beginning of period	2,368	5,062
Cash and Cash Equivalents at End of Period	$ 2,863	$ 3,813

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
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 2015 Annual Report on Form 10-K. Effective November 1, 2015, the Other International and historically presented Europe segments were restructured to align with cha nges to our internal organization structure. The Libya business was moved from the Other International segment t o the historically presented Europe segment, which is now renamed Europe and North Africa. Certain financial information has been revised for all prior periods presented to reflect the change in the composition of our operating segments. For additional i nformation, see Note 19— Segment Disclosures and Related Information.

Change in Accounting Principles

Change in Accounting Principles	6 Months Ended
	Jun. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Changes in Accounting Principles [Text Block]	Note 2 — Change in Accounting Principles We adopted the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2015-02 , “Amendments to the Consolidation Analysis,” beginning January 1, 2016. The ASU amends existing requirements applicable to reporting entities that are required to evaluate whether certain legal entities, including variable interest entities (VIEs), should be consolidated. The adoption of this ASU did not have an impact on our consolidated f inancial statements and disclosures. See Note 3 — Variable Interest Entities, for additional information on our significant VIE.

Variable Interest Entities (VIE

Variable Interest Entities (VIEs)	6 Months Ended
	Jun. 30, 2016
Variable Interest Entities VIEs [Abstract]
Variable Interest Entities (VIEs)	Note 3 —Variable Interest Entities 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 ga s (LNG) processing and export marketing. As a result, we do not consolidate APLNG, and it is accounted for as an equity method investment. As of June 30, 2016 , we have not provided any financial support to APLNG other than amounts previously contractual ly required. Unless we elect otherwise, we have no requirement to provide liquidity or purchase the assets of APLNG. See Note 6 —Investments, Loans and Long-Term Receivables, and Note 11 —Guarantees, for additional information.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventories [Abstract]
Inventories	Note 4—Inventories Inventories consisted of the following: Millions of Dollars June 30 December 31 2016 2015 Crude oil and natural gas $ 463 406 Materials and supplies 687 718 $ 1,150 1,124 Inventories valued on the last-in, first-out (LIFO) basis totaled $ 331 million and $ 317 million at June 30, 2016 and December 31, 2015 , respectively. The estimated excess of current replacement cost over LIFO cost of inventories was approximately $ 74 million and $ 6 million at June 30, 2016 a nd December 31, 2015 , respectively.

Assets Held for Sale or Sold

Assets Held for Sale or Sold	6 Months Ended
	Jun. 30, 2016
Disposal Group Excluding Discontinued Operation Additional Disclosures [Abstract]
Disposal Groups Exluding Discontinued Operations Disclosure [TextBlock]	Note 5 —Assets Held for Sale or Sold On April 22, 2016 , we sold our interest in the Alaska Beluga River Unit natural gas field in the Cook Inlet for $ 134 million , net of settlement of gas imbalances and customary adjustments , and recognized a gain on disposition of $ 56 million . At the time of disposition, the net carrying value of our Beluga River Unit interest, which is included in the Alaska segment, was $ 78 million, consisting primarily of $ 100 million of properties , plants and equipment (PP&E) and $ 19 million of asset retirement obligations (ARO).

Investments, Loans and Long-Ter

Investments, Loans and Long-Term Receivables	6 Months Ended
	Jun. 30, 2016
Investments, Loans and Long-Term Receivables [Abstract]
Investments, Loans and Long-Term Receivables	Note 6 —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, 2016 , $ 8.5 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 11 — 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 3 — Variable Interest Entities, for additional information. Follo wing the fourth- quarter 2015 impairment of our investment in APLNG, the outlook for crude oil and natural gas prices continued to deteriorate into the first quarter of 2016 . As a result, the estimated fair value of our investment in APLNG declined to an a mount below book value as of March 31, 2016. Based on a review of the facts and circumstances surrounding this decline in fair value, we concluded the impairment was not other than temporary under the guidance of FASB Accounting Standards Codification (AS C) Topic 323, “Investments – Equity Method and Joint Ventures.” During the second quarter of 2016, primarily due to an improved outlook for crude oil prices, the estimated fair value of our investment increased and is above book value as of June 30, 2016 . At June 30, 2016 , the book value of our equity method investment in APLNG was $ 10,327 million. The balance is included in the “Investments and long-term receivables” line on our consolidated balance sheet. FCCL At June 30, 2016 , the book value of our equity method investment in FCCL Partnership was $ 8,939 million, net of a $ 1,363 million reduction due to cumulative foreign currency translation effects. The balance is included in the “Investments and long-term receivables” l ine on our consolidated balance sheet. 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. Incl uded in such activity are loans made to certain affiliated and non-affiliated companies. At June 30, 2016 , significant loans to affiliated companies included $ 750 million in project financing to Qatar Liquefied Gas Company Limited (3) (QG3). The l ong-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, 2016
Suspended Wells [Abstract]
Suspended Wells	Note 7 —Suspended Wells The capitalized cost of suspended wells at June 30, 2016 , was $ 1,293 million, an increase of $ 33 million from $ 1,260 million at year-end 2015 . Two suspended wells in the Gulf of Mexico totaling $ 100 million were charged to dry hole expense during the first six months of 2016 relating to exploratory well costs capitalized for a period greater than one year as of Dec ember 31, 2015 .

Impairments

Impairments	6 Months Ended
	Jun. 30, 2016
Impairment Of Long Lived Assets [Abstract]
Impairments	Note 8—Impairments During the three- and six-month periods ended June 30, 2016 and 2015, we recognized before-tax impairment charges within the following segments: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2016 2015 2016 2015 Alaska $ - 7 - 7 Lower 48 51 - 60 - Europe and North Africa 10 71 137 87 Asia Pacific and Middle East 1 - 1 - $ 62 78 198 94 Our Europe and North Africa segment included impairments of $137 million in the six-month period of 2016, primarily as a result of lower natural gas prices in the United Kingdom. Our Lower 48 segment included impairments of $51 million and $60 million respectively, in the three- and six-month periods of 2016, primarily as a result of lower natural gas prices and increased asset retirement obligation estimates. The three- and six-month periods of 2015 included impairments in our Europe and North Africa segment of $71 million and $87 million, respectively, primarily as a result of lower natural gas prices in the United Kingdom. The charges discussed below are included in the “Exploration expenses” line on our consolidated income statement and are not r eflected in the table above. Exploration expenses in the three- and six-month periods of 2016 are aligned with our decision announced in 2015 to reduce deepwater exploration spending. We recorded a $203 million before-tax impairment for the associated ca rrying value of our Gibson and Tiber undeveloped leaseholds in deepwater Gulf of Mexico in the second quarter of 2016 . Additionally, in the first quarter of 2016, we recorded a $95 million before-tax impairment for the associated carrying value of capitalized undeveloped leasehold cos ts of the Melmar prospect, and a $73 million impairment in our Lower 48 segment, primarily as a result of changes in the estimated market value following the completion of an initial marketing effort.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt [Abstract]
Debt	Note 9 —Debt In the first quarter of 2016, we reduced our revolving credit facility, expiring in June 2019, from $ 7.0 billion to $ 6.75 billion. We have two commercial paper programs supported by our $ 6.75 billion revolving credit facility: the ConocoPhillips $ 6.25 billion program, primarily a funding source for short-term working capital needs, and the ConocoPhillips Qatar Funding Ltd. $ 500 million program, which is used to fund commitments relating to QG3. Commercial paper maturities are generally limited to 90 days. At June 30, 2016 and December 31, 2015 , we had no direct outstanding borrowings under the revolving credit facility, with no letters of credit as of June 30, 2016 or December 31, 2015 . Under the ConocoPhillips Qatar Funding Ltd. commercial paper program, no commercial paper was outstanding at June 30, 2016 , compared with $ 803 million at December 31, 2015 . Since we had no commercial paper outstanding and had issued no letters of credit, we had access to $ 6.75 billion in borrowing capacity under our revolving credit facility at June 30, 2016 . In March 2016, we issued notes consisting of: The $ 1,250 million of 4.20 % Notes due 2021. The $ 1,250 million of 4.95 % Notes due 2026. The $ 500 million of 5.95 % Notes due 2046. In addition, on March 18, 2016, we entered into a $ 1,600 million three-year sen ior unsecured term loan facility. Borrowings will accrue interest at a base rate or, for certain Eurodollar borrowings, the London Interbank Offered Rate (LIBOR), in each case plus a margin that is set based on our corporate credit ratings. The applicabl e margin for loans bearing interest based on the base rate ranges from 0.50% to 1.00% and the applicable margin for loans bearing interest based on LIBOR ranges from 1.50% to 2.00%. Based on our current corporate credit ratings, the applicable margin for l oans accruing interest at the base rate is 0.50% and the applicable margin for loans accruing interest at LIBOR is 1.50%. The term loan facility contains customary covenants regarding, among other matters, material compliance with laws and restrictions against certain consolidations, mergers and asset sales and creation of certain liens on our assets and consolidated subsidiaries. The term loan facility also contains financial covenants including a total debt to capitalization ratio, excluding the impact s of certain noncash impairments and foreign currency translation adjustments as defined in the Term Loan Agreement, which may not exceed 65 percent. At June 30, 2016 , we were in compliance with this covenant. The term loan facility includes customary ev ents of default (subject to specified cure periods, materiality qualifiers and exceptions), including the failure to pay any interest, principal or fees when due, the failure to perform or the violation of any covenant contained in the term loan facility, the making of materially inaccurate or false representations or warranties, a default on certain material indebtedness, insolvency or bankruptcy, a change of control and the occurrence of material Employee Retirement Income Security Act of 1974 (ERISA) eve nts and certain judgments against us or our material subsidiaries. We have the right at any time and from time to time to prepay the term loan, in whole or in part, without premium or penalty upon notice to the Administrative Agent. The net proceeds of the notes and term loan will be used for general corporate purposes. At June 30, 2016 , we had $ 283 million of certain variable rate deman d bonds (VRDBs) outstanding with maturities ranging through 2035. The VRDBs are redeemable at the option of the bondhold ers on any business day. The VRDBs are included in the “Long-term debt” line on our consolidated balance sheet .

Noncontrolling Interests

Noncontrolling Interests	6 Months Ended
	Jun. 30, 2016
Noncontrolling Interests [Abstract]
Noncontrolling Interests	Note 10—Noncontrolling Interests Activity attributable to common stockholders’ equity and noncontrolling interests for the first six months of 2016 and 2015 was as follows: Millions of Dollars 2016 2015 Common Stockholders’ Equity Non-Controlling Interest Total Equity Common Stockholders’ Equity Non-Controlling Interest Total Equity Balance at January 1 $ 39,762 320 40,082 51,911 362 52,273 Net income (loss) (2,540) 26 (2,514) 93 29 122 Dividends (626) - (626) (1,819) - (1,819) Distributions to noncontrolling interests - (59) (59) - (43) (43) Other changes, net* 948 - 948 (1,565) 1 (1,564) Balance at June 30 $ 37,544 287 37,831 48,620 349 48,969 *Includes components of other comprehensive income (loss), which are disclosed separately in the Consolidated Statement of Comprehensive Income.

Guarantees

Guarantees	6 Months Ended
	Jun. 30, 2016
Guarantees [Abstract]
Guarantees	Note 11 —Guarantees At June 30, 2016 , 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 because the fair value of the obligation is immaterial. In addition, unless otherwise stated, we are not currently performing wi th 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, 2016 , we had outstanding 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 2016 exchange rates: We have guaranteed APLNG’s performance 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 one year . Our maximum potential amount of future payments related to this guarantee is approximately $ 80 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 issued 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 i s not achieved. Our guarantee of the project financing will be released upon meeting certain completion tests with milestones, which we estimate should occur beginning later in 2016. Our maximum exposure at June 30, 2016 , is $ 3.2 billion based upon our pro-rata share of the facility used at that date. At June 30, 2016 , the carrying value of this guarantee is approximately $ 114 million. In conjunction with our original purchase of an ownership interest in APLNG fr om Origin Energy in October 2008, we agreed to reimburse Origin Energy for our share of the existing contingent liability arising under guarantees of an existing obligation of APLNG to deliver natural gas under several sales agreements with remaining terms of 1 to 26 years . Our maximum potential liability for future payments, or cost of volume delivery, under these guarantees is estimated to be $ 1.0 billion ($ 1.9 billion in the event of intentional or rec kless 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 tr iggered 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 project’s continued development. The guarantees have remaining terms of up to 29 years or the life of the venture . Our maximum potential amount of future payments related to these guarantees is approximately $ 160 million and would b ecome payable if APLNG does not perform. Other Guarantees We have other guarantees with maximum future potential payment amounts totaling approximately $ 530 million, which consist primarily of a guarantee of the residual value of a leased office building, guarantees of the residual value of leased corporate aircraft, a guarantee for our portion of a joint venture’s project finance reserve accounts, and a guarantee of minimum charter revenue for an LNG vessel. These guarantees have remaining terms of up to eight years 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 nonperformance o f 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 in clude 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 an d the maximum amount of future payments is generally unlimited. The carrying amount recorded for these indemnifications at June 30, 2016 , was approximately $ 90 million. We amortize the indemnification liability over the relevant time per iod, if one exists, based on the facts and circumstances surrounding 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 th e 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 payments. Included in the recorded carrying amount at June 30, 2016 , were approximately $ 40 million of environmental accruals for known contamination that are included in the “As set retirement obligations and accrued environmental costs” line on our consolidated balance sheet. For additional information about environmental liabilities, see Note 12 —Contingencies and Commitments. On March 1, 2015, a supplier to one of the r efineries 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 liabil ity 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 $ 1.5 billion. At June 30, 2016 , the carrying value of thi s guarantee is approximately $ 98 million and the remaining term is eight years . Because Phillips 66 has indemnified us for losses incurred under this guarantee, we have recorded an indemnification asset from Phillips 66 of approximately $ 98 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 amounts in excess of that value, provided Phillips 66 is a going concern.

Contingencies and Commitments

Contingencies and Commitments	6 Months Ended
	Jun. 30, 2016
Contingencies and Commitments [Abstract]
Contingencies and Commitments	Note 12 —Contingencies and Commitments A number of lawsuits involving a variety of claims arising in the ordinary course of business have been filed 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 but 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 factors such 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 l iability of those potentially responsible for environmental remediation costs is generally joint and s everal 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 EPA 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 settlement of l iability. 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 result of var ious 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 and time li mits. 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 accruals 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 re asonably estimated. At June 30, 2016 , our balance sheet included a total environmental accrual of $ 262 million, compared with $ 258 million at December 31, 2015 , for remediation activities in the United States and Canada. We expect to incur a substantial amount of these expenditures within the next 30 years . In the future, we may be involved in additional environmental assessments, 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 and tax 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, 2016 , we had performance obligations secured by letters of credit of $ 290 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 to determine the damages owed to ConocoPhillips for Ecuador’s actions and to address Ecuador’s counterclaims is complete. We are awaiting the tribuna l’s award. ConocoPhillips served a Notice of Arbitration on the Timor-Leste Minister of Finance in October 2012 for outstanding disputes related to a series of tax assessments. The arbitration hearing was conducted in Singapore in June 2014 under the Unit ed Nations Commission on International Trade Laws (UNCITRAL) arbitration rules, pursuant to the terms of the Tax Stability Agreement with the Timor-Leste government. In January 2016, we settled three of the four Timor-Leste tax disputes. In March 2016, w e received a decision from the arbitration tribunal on the fourth Timor-Leste tax dispute item and have r eached a settlement in principle with the Timor-Leste government on this dispute.

Derivative and Financial Instru

Derivative and Financial Instruments	6 Months Ended
	Jun. 30, 2016
Derivative and Financial Instruments [Abstract]
Derivative and Financial Instruments	Note 13 —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 our 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 r elated 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 2016 2015 Assets Prepaid expenses and other current assets $ 333 768 Other assets 40 60 Liabilities Other accruals 359 754 Other liabilities and deferred credits 33 46 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 2016 2015 2016 2015 Sales and other operating revenues $ (163) 44 (166) 28 Other income (3) 2 (2) 1 Purchased commodities 130 (47) 129 (3) The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts: Open Position Long/(Short) June 30 December 31 2016 2015 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price (11) (14) Basis 27 (17) Foreign Currency Exchange Derivatives We have foreign currency exchange rate risk resulting from international operations. Our foreign currency exchange derivative activity primarily relates to managing 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 2016 2015 Assets Prepaid expenses and other current assets $ - 47 Liabilities Other accruals 104 8 The (gains) losses 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 2016 2015 2016 2015 Foreign currency transaction (gains) losses $ 86 (37) 183 (13) We had the following net notional position of outstanding foreign currency exchange derivatives: In Millions Notional Currency June 30 December 31 2016 2015 Sell U.S. dollar, buy other currencies* USD 2 347 Buy U.S. dollar, sell other currencies** USD - 20 Buy British pound, sell other currencies*** GBP 1,076 567 *Primarily Canadian dollar, Norwegian krone 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 ; otherwise, these in vestments are included in “Short-term investments” on our consolidated balance sheet . Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments June 30 December 31 June 30 December 31 2016 2015 2016 2015 Cash $ 837 528 - - Time deposits Remaining maturities from 1 to 90 days 2,026 1,840 682 - Remaining maturities from 91 to 180 days - 607 $ 2,863 2,368 1,289 - Credit Risk Financial instruments potentially exposed to concentrations of credit risk consist primarily of cash equivalents, short-term investments, over-the-counter (OTC) derivative contracts and trade receivables. Our cash equivalents and short-term investments 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 counterparty 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. W e 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 thos e exchange brokers for receivables 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 internationa l customer base, which limits 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 gen erally 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 or owed to others to be offset against amounts due to 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 other 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 rever t to zero if we fall below 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 aggregate fair value of all derivative instruments with such credit-risk-related contingent features that were in a liability position on June 30, 2016 and December 31, 2015 , was $ 79 million and $ 158 million, respectively. F or these instruments, $ 1 million of collateral was posted as of June 30, 2016 , and $ 2 million of collateral was posted as of D ecember 31, 2015 . If our credit rating had been downgraded below investment grade on June 30, 2016 , we would be required to post $ 78 million of additional collateral, either with cash or letters of credit.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2016
Fair Value Measurement [Abstract]
Fair Value Measurement	Note 14 —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 2016 or 2015 . Recurring Fair Value Measurement Financial assets and liabilities reported at fair value on a recurring basis primarily include commodity derivatives. 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 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 commodities, modeled market prices, time va lue, 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 hierarc hy 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, 2016 December 31, 2015 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Commodity derivatives $ 220 129 24 373 516 242 70 828 Total assets $ 220 129 24 373 516 242 70 828 Liabilities Commodity derivatives $ 234 141 17 392 515 273 12 800 Total liabilities $ 234 141 17 392 515 273 12 800 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 setoff 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, 2016 Assets $ 373 275 98 - 8 90 Liabilities 392 275 117 10 14 93 December 31, 2015 Assets $ 828 600 228 - 8 220 Liabilities 800 600 200 1 11 188 At June 30, 2016 and December 31, 2015, 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 and date of remeasurement for assets accounted for at fair value on a non-recurring basis during the year: Millions of Dollars Fair Value Measurements Using Fair Value Level 3 Inputs Before-Tax Loss June 30, 2016 Net PP&E (held for use) $ 23 23 53 March 31, 2016 Net PP&E (held for use) $ 217 217 129 Net PP&E held for use is comprised of various producing p roperties 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 exchanges and pricing service companies, costs, and a discount factor 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 and short-term investments : 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 6 —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 2016 2015 2016 2015 Financial assets Commodity derivatives $ 98 228 98 228 Total loans and advances—related parties 755 808 755 808 Financial liabilities Total debt, excluding capital leases 27,824 24,062 31,001 24,785 Commodity derivatives 107 199 107 199

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	Note 15—Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive 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, 2015 $ (443) (5,804) (6,247) Other comprehensive income (loss) (83) 959 876 June 30, 2016 $ (526) (4,845) (5,371) Foreign Currency Translation increased due to the weakening of the U.S. dollar relative to the Canadian dollar, Australian dollar and Norwegian krone. There were no items within accumulated other comprehensive loss related to noncontrolling interests. The following table summarizes reclassifications out of accumulated other comprehensive loss: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2016 2015 2016 2015 Defined benefit plans $ 42 64 105 96 Above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of: $ 23 35 59 52 See Note 17 — Employee Benefit Plans, for additional information.

Cash Flow Information

Cash Flow Information	6 Months Ended
	Jun. 30, 2016
Cash Flow Information [Abstract]
Cash Flow Information	Note 16—Cash Flow Information Millions of Dollars Six Months Ended June 30 2016 2015 Cash Payments (Receipts) Interest $ 526 399 Income taxes* (366) 172 Net Sales (Purchases) of Short-Term Investments Short-term investments purchased $ (1,599) - Short-term investments sold 307 - $ (1,292) - *Net of $569 million and $556 million in 2016 and 2015, respectively, related to refunds received from the Internal Revenue Service. In May 2015, we liquidated certain deferred compensation investments for proceeds of $267 million, which is included in the “Other” line within “Cash Fl ows From Investing Activities” on our consolidated statement of cash flows.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2016
Employee Benefit Plans [Abstract]
Employee Benefit Plans	Note 17 — Employee Benefit Plans Pension and Postretirement Plans Millions of Dollars Pension Benefits Other Benefits 2016 2015 2016 2015 U.S. Int'l. U.S. Int'l. Components of Net Periodic Benefit Cost Three Months Ended June 30 Service cost $ 28 20 36 31 - - Interest cost 32 32 39 34 4 7 Expected return on plan assets (35) (41) (53) (43) - - Amortization of prior service cost (credit) 1 (2) 1 (2) (8) (2) Recognized net actuarial loss (gain) 23 7 29 21 (1) - Settlements 45 - 52 - - - Net periodic benefit cost $ 94 16 104 41 (5) 5 Six Months Ended June 30 Service cost $ 55 40 72 63 1 1 Interest cost 72 63 79 68 7 14 Expected return on plan assets (78) (82) (107) (87) - - Amortization of prior service cost (credit) 2 (3) 3 (4) (17) (3) Recognized net actuarial loss (gain) 42 14 57 42 (1) 1 Settlements 127 - 52 - - - Net periodic benefit cost $ 220 32 156 82 (10) 13 During the first six months of 2016 , we contributed $ 111 million to our domestic benefit plans and $ 61 million to our international benefit plans. In 2016 , we expect to contribute approximately $ 260 million to our domestic qualified and nonqualified pension and postretirement benefit plans and $ 130 million to our international qualified and nonqualified pension and postretirement benefit plans. In conjunction with the recognition of pension settlement expense, the fair market values of pension plan assets were updated, and the pension benefit obligations of the U.S. qualified pension plan and a U.S. nonqualified supplemental retirement plan were remeasured. At the measurement dates, the net pension liability increased by $ 69 million and $ 300 million for the three- and six- month periods ended June 30, 2016 , respectively . This is primarily a result of a decrease in the discount rate from 4.5 percent at December 31, 2015, to 3.6 percent for the U.S. qualified pension plan and to 3.15 percent for a U.S. nonqualified supplemental retirement plan at June 30, 2016 , resulting in a corresponding decrease to other comprehensive income (loss) . Severance Accrual The following table summarizes our severance accrual activity for the six - month period ended June 30, 2016 Millions of Dollars Balance at December 31, 2015 $ 156 Accruals 7 Accrual reversals (1) Benefit payments (115) Foreign currency translation adjustments 2 Balance at June 30, 2016 $ 49 Of the remaining balance at June 30, 2016 , $ 16 million is classified as short-term.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Note 18—Related Party Transactions Our related parties primarily include equity method investments and certain trusts for the benefit of employees. Significant transactions with our equity affiliates were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2016 2015 2016 2015 Operating revenues and other income $ 28 27 55 52 Purchases 25 25 49 47 Operating expenses and selling, general and administrative expenses 12 17 28 35 Net interest (income) expense* (3) (2) (6) (4) *We paid interest to, or received interest from, various affiliates. See Note 6—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, 2016
Segment Disclosures and Related Information [Abstract]
Segment Disclosures and Related Information	Note 19 —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 and North Africa, Asia Pacific and Middle East, and Other International. Effective November 1, 2015, the Other International and historically present ed Europe segments were restructured to align with changes to our internal organization structure. The Libya business was moved from the Other International segment to the historically presented Europe segment, which is now renamed Europe and North Africa . Accordingly, results of operations for the Other International and Europe and North Africa segments have been revised for all prior periods presented. There was no impact on our consolidated financial statements, and the impact on our segment presentation is immaterial. Corporate and Other represents costs not directly associated with an operating segment, such as most interest expense, corporate overhead and certain technology activities, including licensing revenues. Corporate assets include all cash and c ash equivalents and short-term investments. We evaluate performance and allocate resources based on net income (loss) attributable to ConocoPhillips. Intersegment sales are at prices that approximate market. Analysis of Results by Operating Segment Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2016 2015 2016 2015 Sales and Other Operating Revenues Alaska $ 936 1,338 1,714 2,388 Lower 48 2,395 3,176 4,540 6,315 Intersegment eliminations (5) (13) (12) (35) Lower 48 2,390 3,163 4,528 6,280 Canada 391 653 816 1,356 Intersegment eliminations (30) (79) (65) (189) Canada 361 574 751 1,167 Europe and North Africa 736 1,775 1,659 3,324 Intersegment eliminations - (1) - (1) Europe and North Africa 736 1,774 1,659 3,323 Asia Pacific and Middle East 897 1,286 1,734 2,674 Corporate and Other 28 158 83 177 Consolidated sales and other operating revenues $ 5,348 8,293 10,469 16,009 Net Income (Loss) Attributable to ConocoPhillips Alaska $ 147 195 145 340 Lower 48 (771) (293) (1,591) (698) Canada (175) (166) (469) (324) Europe and North Africa 20 36 (31) 672 Asia Pacific and Middle East 72 328 67 723 Other International (29) (147) (53) (239) Corporate and Other (335) (132) (608) (381) Consolidated net income (loss) attributable to ConocoPhillips $ (1,071) (179) (2,540) 93 Millions of Dollars June 30 December 31 2016 2015 Total Assets Alaska $ 12,612 12,555 Lower 48 24,271 26,932 Canada 18,400 17,221 Europe and North Africa 13,060 13,703 Asia Pacific and Middle East 21,769 22,318 Other International 375 282 Corporate and Other 5,567 4,473 Consolidated total assets $ 96,054 97,484

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Taxes [Abstract]
Income Taxes	Note 20 —Income Taxes Our effective tax rates for the second quarter and first six months of 2016 were positive 36 percent and 35 percent, respectively, compared with negative 80 percent and positive 127 percent for the same periods of 2015 . The increase in the effective tax rate for the second quarter of 2016 was primarily due to the effect of the recognition of state deferred tax assets and the absence of the e ffect of the 2015 Canadian tax law change generating a tax expense, both discussed below, partially offset by a shift in the mix of income between high and low tax jurisdictions. The decrease in the effective tax rate for the first six months of 2016 was primarily due to the absence of the effect of the 2015 U.K. tax law change, discussed below, partially offset by the recognition of state deferred tax assets and the second- quarter 2015 Canadian tax law change. During the second quarter of 2016, previousl y unrecognized state deferred tax assets were recognized. As a result, a $ 68 million tax benefit is reflected in the “Income tax provision (benefit)” line on our consolidated income statement. In the United Kingdom, legislation was enacted o n 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 “Income tax provision (benefit)” line on our consolidated 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 “Income tax provision (benefit)” line on our consolidated income statement.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2016
New Accounting Standards [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 21 — New Accounting Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (ASU No. 2014-09), 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 ASC Topic 605, “Revenue Recognition,” and most industry-spec ific 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 th e consideration it expects 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. In August 2015, the FASB issued ASU No. 2015-14, “Deferral of the Effective Date,” which defers the effective date of ASU No. 2014-09. The ASU is now effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted for interim and ann ual periods beginning after December 15, 2016. Entities may choose to adopt the standard using either a full retrospective approach or a modified retrospective approach. ASU No. 2014-09 was amended in March 2016 by the provisions of ASU No. 2016-08, “P rincipal versus Agent Considerations (Reporting Revenue Gross versus Net),” in April 2016 by the provisions of ASU No. 2016-10, “Identifying Perfor mance Obligations and Licensing,” and in May 2016 by the provisions of ASU No. 2016-12, “Narrow-Scope Improve ments and Practical Expedients.” We are currently evaluating the impact of the adoption of ASU No. 2014-09, as amended, and continue to monitor proposals issued by the FASB to clarify the ASU. In February 2016, the FASB issued ASU No. 2016-02, “Leases” ( ASU No. 2016-02), which establishes comprehensive accounting and financial reporting requirements for leasing arrangements. This ASU supersedes the existing requirements in FASB ASC Topic 840, “Leases,” and requires lessees to recognize substantially all lease assets and lease liabilities on the balance sheet. The provisions of ASU No. 2016-02 also modify the definition of a lease and outline requirements for recognition, measurement, presentation, and disclosure of leasing arrangements by both lessees an d lessors. The ASU is effective for interim and annual periods beginning after December 15, 2018, and early adoption of the standard is permitted. Entities are required to adopt the ASU using a modified retrospective approach, subject to certain optiona l practical expedients, and apply the provisions of ASU No. 2016-02 to leasing arrangements existing at or entered into after the earliest comparative period presented in the financial statements. We are currently evaluating the impact of the adoption of this ASU. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (ASU No. 2016-13), which sets forth the current expected credit loss model, a new forward-looking impairment model for certain financial in struments based on expected losses rather than incurred losses. The ASU is effective for interim and annual periods beginning after December 15, 2019, and early adoption of the standard is permitted. Entities are required to adopt ASU No. 2016-13 using a modified retrospective approach, subject to certain limited exceptions. We are currently evaluating the impact of the adoption of this ASU.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events [TextBlock]	Note 22 —Subsequent Events In July 2016, we entered into an agreement to terminate our final Gulf of Mexico deepwater drillship contract. The drillship, used to drill our operated deepwater well inventory in the Gulf of Mexico through April 2016, was contracted on a shared, three-year term. We expect to record before -tax rig cancellation charges and third party costs of approximately $140 million in our third quarter 2016 earning s. On Ju ly 1, 2016, APLNG changed its tax functional currency from Australian dollar to U.S. dollar and translate d all APLNG assets and liabilities into U.S. dollar, utilizing the exchange rate as of that date. As a result of this change, we will record a reducti on to our investment in APLNG for the deferred tax effect of approximately $ 200 million, to be recorded through equity earnings in the third quarter of 2016. In July 2016, we announced our plan to sell our 35 percent interest in three exploration blocks o ffshore Senegal for $350 million plus net customary adjustments of approximately $80 million. The three blocks had a net book value of approximately $273 million as of June 30, 2016. The transactions are expected to close by year-end 2016, subject to gov ernmental approvals and co-venturer preemption rights. Senegal results of operations are reported within our Other International segment. In July 2 016, we announced targeted work force reductions in certain areas of our business. Approximately 6 percent of our global workforce will be affected. As the analysis is ongoing, it is not reasonably practicable to quantify the financial impact, but the impact could be material to our results of operations in the third quarter of 2016.

Supplementary Information - Con

Supplementary Information - Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2016
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. In February 2016 , ConocoPhillips received a $2 .3 billion return of capital from ConocoPhillips Company to settle certain accumulated intercompany balances. The transaction had no impact on our consolidated financial statements. This condensed consolidating financial information should be read in conjunction with the accompanying consolidated financial statements and notes. Millions of Dollars Three Months Ended June 30, 2016 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 $ - 2,284 - 3,064 - 5,348 Equity in earnings (losses) of affiliates (1,003) (21) - 145 959 80 Gain on dispositions - 63 - 65 - 128 Other income - 1 - 18 - 19 Intercompany revenues 26 68 60 928 (1,082) - Total Revenues and Other Income (977) 2,395 60 4,220 (123) 5,575 Costs and Expenses Purchased commodities - 1,998 - 682 (678) 2,002 Production and operating expenses - 488 - 1,191 (234) 1,445 Selling, general and administrative expenses 2 136 - 29 - 167 Exploration expenses - 551 - 59 - 610 Depreciation, depletion and amortization - 306 - 2,023 - 2,329 Impairments - 37 - 25 - 62 Taxes other than income taxes - 39 - 158 - 197 Accretion on discounted liabilities - 12 - 100 - 112 Interest and debt expense 126 164 57 135 (170) 312 Foreign currency transaction (gains) losses 2 - (79) 60 - (17) Total Costs and Expenses 130 3,731 (22) 4,462 (1,082) 7,219 Income (loss) before income taxes (1,107) (1,336) 82 (242) 959 (1,644) Income tax provision (benefit) (36) (333) 19 (236) - (586) Net income (loss) (1,071) (1,003) 63 (6) 959 (1,058) Less: net income attributable to noncontrolling interests - - - (13) - (13) Net Income (Loss) Attributable to ConocoPhillips $ (1,071) (1,003) 63 (19) 959 (1,071) Comprehensive Income (Loss) Attributable to ConocoPhillips $ (1,296) (1,228) 51 (215) 1,392 (1,296) Income Statement Three Months Ended June 30, 2015 Revenues and Other Income Sales and other operating revenues $ - 3,102 - 5,191 - 8,293 Equity in earnings (losses) 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) before income taxes (210) (335) (140) 569 25 (91) Income tax provision (benefit) (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 Millions of Dollars Six Months Ended June 30, 2016 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 $ - 4,356 - 6,113 - 10,469 Equity in earnings (losses) of affiliates (2,430) (771) - (299) 3,431 (69) Gain on dispositions - 85 - 66 - 151 Other income (loss) - (5) - 44 - 39 Intercompany revenues 44 149 116 1,453 (1,762) - Total Revenues and Other Income (2,386) 3,814 116 7,377 1,669 10,590 Costs and Expenses Purchased commodities - 3,846 - 1,561 (1,180) 4,227 Production and operating expenses - 741 - 2,295 (237) 2,799 Selling, general and administrative expenses 5 290 - 64 (6) 353 Exploration expenses - 982 - 133 - 1,115 Depreciation, depletion and amortization - 563 - 4,013 - 4,576 Impairments - 41 - 157 - 198 Taxes other than income taxes - 96 - 281 - 377 Accretion on discounted liabilities - 24 - 197 - 221 Interest and debt expense 250 298 112 272 (339) 593 Foreign currency transaction (gains) losses (42) 2 233 (194) - (1) Total Costs and Expenses 213 6,883 345 8,779 (1,762) 14,458 Loss before income taxes (2,599) (3,069) (229) (1,402) 3,431 (3,868) Income tax provision (benefit) (59) (639) 1 (657) - (1,354) Net loss (2,540) (2,430) (230) (745) 3,431 (2,514) Less: net income attributable to noncontrolling interests - - - (26) - (26) Net Loss Attributable to ConocoPhillips $ (2,540) (2,430) (230) (771) 3,431 (2,540) Comprehensive Income (Loss) Attributable to ConocoPhillips $ (1,664) (1,554) 4 230 1,320 (1,664) Income Statement Six Months Ended June 30, 2015 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) before income taxes 3 (175) 245 1,022 (1,542) (447) Income tax benefit (90) (436) (9) (34) - (569) 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) Millions of Dollars June 30, 2016 Balance Sheet ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Assets Cash and cash equivalents $ - 265 10 2,588 - 2,863 Short-term investments - - - 1,289 - 1,289 Accounts and notes receivable 11 1,401 24 4,622 (2,742) 3,316 Inventories - 100 - 1,050 - 1,150 Prepaid expenses and other current assets 1 141 167 519 (187) 641 Total Current Assets 12 1,907 201 10,068 (2,929) 9,259 Investments, loans and long-term receivables* 40,356 61,672 3,501 27,849 (111,354) 22,024 Net properties, plants and equipment - 6,994 - 56,691 - 63,685 Other assets 8 1,835 229 1,298 (2,284) 1,086 Total Assets $ 40,376 72,408 3,931 95,906 (116,567) 96,054 Liabilities and Stockholders’ Equity Accounts payable $ - 3,234 6 3,320 (2,742) 3,818 Short-term debt (10) (2) 1,256 87 - 1,331 Accrued income and other taxes - 51 - 503 - 554 Employee benefit obligations - 370 - 168 - 538 Other accruals 170 262 59 802 (186) 1,107 Total Current Liabilities 160 3,915 1,321 4,880 (2,928) 7,348 Long-term debt 9,120 13,635 1,713 2,878 - 27,346 Asset retirement obligations and accrued environmental costs - 1,127 - 8,693 - 9,820 Deferred income taxes - - - 11,360 (1,705) 9,655 Employee benefit obligations - 2,034 - 499 - 2,533 Other liabilities and deferred credits* 114 6,877 811 16,099 (22,380) 1,521 Total Liabilities 9,394 27,588 3,845 44,409 (27,013) 58,223 Retained earnings (losses) 26,725 14,937 (619) 13,262 (21,057) 33,248 Other common stockholders’ equity 4,257 29,883 705 37,948 (68,497) 4,296 Noncontrolling interests - - - 287 - 287 Total Liabilities and Stockholders’ Equity $ 40,376 72,408 3,931 95,906 (116,567) 96,054 *Includes intercompany loans. Balance Sheet December 31, 2015 Assets Cash and cash equivalents $ - 4 15 2,349 - 2,368 Accounts and notes receivable 21 2,905 21 7,228 (5,661) 4,514 Inventories - 142 - 982 - 1,124 Prepaid expenses and other current assets 2 206 252 589 (266) 783 Total Current Assets 23 3,257 288 11,148 (5,927) 8,789 Investments, loans and long-term receivables* 43,532 64,015 3,264 27,839 (117,464) 21,186 Net properties, plants and equipment - 8,110 - 58,336 - 66,446 Other assets 7 950 233 1,158 (1,285) 1,063 Total Assets $ 43,562 76,332 3,785 98,481 (124,676) 97,484 Liabilities and Stockholders’ Equity Accounts payable $ - 5,684 13 4,897 (5,661) 4,933 Short-term debt (9) 1 1,255 180 - 1,427 Accrued income and other taxes - 62 - 437 - 499 Employee benefit obligations - 629 - 258 - 887 Other accruals 170 465 52 1,087 (264) 1,510 Total Current Liabilities 161 6,841 1,320 6,859 (5,925) 9,256 Long-term debt 7,518 10,660 1,716 3,559 - 23,453 Asset retirement obligations and accrued environmental costs - 1,107 - 8,473 - 9,580 Deferred income taxes - - - 11,814 (815) 10,999 Employee benefit obligations - 1,760 - 526 - 2,286 Other liabilities and deferred credits* 2,681 7,291 667 15,181 (23,992) 1,828 Total Liabilities 10,360 27,659 3,703 46,412 (30,732) 57,402 Retained earnings (losses) 29,892 17,366 (389) 15,177 (25,632) 36,414 Other common stockholders’ equity 3,310 31,307 471 36,572 (68,312) 3,348 Noncontrolling interests - - - 320 - 320 Total Liabilities and Stockholders’ Equity $ 43,562 76,332 3,785 98,481 (124,676) 97,484 *Includes intercompany loans. Millions of Dollars Six Months Ended June 30, 2016 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 $ (153) 572 (5) 2,229 (963) 1,680 Cash Flows From Investing Activities Capital expenditures and investments - (823) - (2,532) 401 (2,954) Working capital changes associated with investing activities - (76) - (287) - (363) Proceeds from asset dispositions 2,300 160 - 227 (2,324) 363 Purchases of short-term investments - - - (1,292) - (1,292) Long-term advances/loans—related parties - (803) - - 803 - Collection of advances/loans—related parties - - - 1,626 (1,573) 53 Intercompany cash management (3,190) 2,127 - 1,063 - - Other - 2 - 4 - 6 Net Cash Provided by (Used in) Investing Activities (890) 587 - (1,191) (2,693) (4,187) Cash Flows From Financing Activities Issuance of debt 1,600 2,994 - 803 (803) 4,594 Repayment of debt - (1,573) - (827) 1,573 (827) Issuance of company common stock 70 - - - (115) (45) Dividends paid (626) - - (1,078) 1,078 (626) Other (1) (2,319) - 318 1,923 (79) Net Cash Provided by (Used in) Financing Activities 1,043 (898) - (784) 3,656 3,017 Effect of Exchange Rate Changes on Cash and Cash Equivalents - - - (15) - (15) Net Change in Cash and Cash Equivalents - 261 (5) 239 - 495 Cash and cash equivalents at beginning of period - 4 15 2,349 - 2,368 Cash and Cash Equivalents at End of Period $ - 265 10 2,588 - 2,863 Statement of Cash Flows Six Months Ended June 30, 2015 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

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
Inventories [Abstract]
Inventories	Note 4—Inventories Inventories consisted of the following: Millions of Dollars June 30 December 31 2016 2015 Crude oil and natural gas $ 463 406 Materials and supplies 687 718 $ 1,150 1,124

Impairments (Tables)

Impairments (Tables)	6 Months Ended
	Jun. 30, 2016
Impairment Of Long Lived Assets [Abstract]
Impairment charges by segment before tax.	Note 8—Impairments During the three- and six-month periods ended June 30, 2016 and 2015, we recognized before-tax impairment charges within the following segments: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2016 2015 2016 2015 Alaska $ - 7 - 7 Lower 48 51 - 60 - Europe and North Africa 10 71 137 87 Asia Pacific and Middle East 1 - 1 - $ 62 78 198 94

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2016
Noncontrolling Interests [Abstract]
Change in equity attributable to non-controlling interests	Note 10—Noncontrolling Interests Activity attributable to common stockholders’ equity and noncontrolling interests for the first six months of 2016 and 2015 was as follows: Millions of Dollars 2016 2015 Common Stockholders’ Equity Non-Controlling Interest Total Equity Common Stockholders’ Equity Non-Controlling Interest Total Equity Balance at January 1 $ 39,762 320 40,082 51,911 362 52,273 Net income (loss) (2,540) 26 (2,514) 93 29 122 Dividends (626) - (626) (1,819) - (1,819) Distributions to noncontrolling interests - (59) (59) - (43) (43) Other changes, net* 948 - 948 (1,565) 1 (1,564) Balance at June 30 $ 37,544 287 37,831 48,620 349 48,969 *Includes components of other comprehensive income (loss), which are disclosed separately in the Consolidated Statement of Comprehensive Income.

Derivative and Financial Inst33

Derivative and Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
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 2016 2015 Assets Prepaid expenses and other current assets $ 333 768 Other assets 40 60 Liabilities Other accruals 359 754 Other liabilities and deferred credits 33 46 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 2016 2015 Assets Prepaid expenses and other current assets $ - 47 Liabilities Other accruals 104 8
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 2016 2015 2016 2015 Sales and other operating revenues $ (163) 44 (166) 28 Other income (3) 2 (2) 1 Purchased commodities 130 (47) 129 (3) The (gains) losses 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 2016 2015 2016 2015 Foreign currency transaction (gains) losses $ 86 (37) 183 (13)
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 2016 2015 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price (11) (14) Basis 27 (17) We had the following net notional position of outstanding foreign currency exchange derivatives: In Millions Notional Currency June 30 December 31 2016 2015 Sell U.S. dollar, buy other currencies* USD 2 347 Buy U.S. dollar, sell other currencies** USD - 20 Buy British pound, sell other currencies*** GBP 1,076 567 *Primarily Canadian dollar, Norwegian krone 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 Short-Term Investments June 30 December 31 June 30 December 31 2016 2015 2016 2015 Cash $ 837 528 - - Time deposits Remaining maturities from 1 to 90 days 2,026 1,840 682 - Remaining maturities from 91 to 180 days - 607 $ 2,863 2,368 1,289 -

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Measurement [Abstract]
Fair value hierarchy for gross financial assets and liabilities	Millions of Dollars June 30, 2016 December 31, 2015 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Commodity derivatives $ 220 129 24 373 516 242 70 828 Total assets $ 220 129 24 373 516 242 70 828 Liabilities Commodity derivatives $ 234 141 17 392 515 273 12 800 Total liabilities $ 234 141 17 392 515 273 12 800
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 setoff 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, 2016 Assets $ 373 275 98 - 8 90 Liabilities 392 275 117 10 14 93 December 31, 2015 Assets $ 828 600 228 - 8 220 Liabilities 800 600 200 1 11 188 At June 30, 2016 and December 31, 2015, 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 2016 2015 2016 2015 Financial assets Commodity derivatives $ 98 228 98 228 Total loans and advances—related parties 755 808 755 808 Financial liabilities Total debt, excluding capital leases 27,824 24,062 31,001 24,785 Commodity derivatives 107 199 107 199
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 and date of remeasurement for assets accounted for at fair value on a non-recurring basis during the year: Millions of Dollars Fair Value Measurements Using Fair Value Level 3 Inputs Before-Tax Loss June 30, 2016 Net PP&E (held for use) $ 23 23 53 March 31, 2016 Net PP&E (held for use) $ 217 217 129

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income [Abstract]
Components of accumulated other comprehensive income in the equity section of the balance sheet	Note 15—Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive 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, 2015 $ (443) (5,804) (6,247) Other comprehensive income (loss) (83) 959 876 June 30, 2016 $ (526) (4,845) (5,371) Foreign Currency Translation increased due to the weakening 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 loss: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2016 2015 2016 2015 Defined benefit plans $ 42 64 105 96 Above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of: $ 23 35 59 52 See Note 17 — Employee Benefit Plans, for additional information.

Cash Flow Information (Tables)

Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2016
Cash Flow Information [Abstract]
Cash Flow Information	Note 16—Cash Flow Information Millions of Dollars Six Months Ended June 30 2016 2015 Cash Payments (Receipts) Interest $ 526 399 Income taxes* (366) 172 Net Sales (Purchases) of Short-Term Investments Short-term investments purchased $ (1,599) - Short-term investments sold 307 - $ (1,292) - *Net of $569 million and $556 million in 2016 and 2015, respectively, related to refunds received from the Internal Revenue Service.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Employee Benefit Plans [Abstract]
Pension and Postretirement Plans	Note 17 — Employee Benefit Plans Pension and Postretirement Plans Millions of Dollars Pension Benefits Other Benefits 2016 2015 2016 2015 U.S. Int'l. U.S. Int'l. Components of Net Periodic Benefit Cost Three Months Ended June 30 Service cost $ 28 20 36 31 - - Interest cost 32 32 39 34 4 7 Expected return on plan assets (35) (41) (53) (43) - - Amortization of prior service cost (credit) 1 (2) 1 (2) (8) (2) Recognized net actuarial loss (gain) 23 7 29 21 (1) - Settlements 45 - 52 - - - Net periodic benefit cost $ 94 16 104 41 (5) 5 Six Months Ended June 30 Service cost $ 55 40 72 63 1 1 Interest cost 72 63 79 68 7 14 Expected return on plan assets (78) (82) (107) (87) - - Amortization of prior service cost (credit) 2 (3) 3 (4) (17) (3) Recognized net actuarial loss (gain) 42 14 57 42 (1) 1 Settlements 127 - 52 - - - Net periodic benefit cost $ 220 32 156 82 (10) 13
Severance accrual	Millions of Dollars Balance at December 31, 2015 $ 156 Accruals 7 Accrual reversals (1) Benefit payments (115) Foreign currency translation adjustments 2 Balance at June 30, 2016 $ 49

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Significant transactions with related parties	Note 18—Related Party Transactions Our related parties primarily include equity method investments and certain trusts for the benefit of employees. Significant transactions with our equity affiliates were: Millions of Dollars Three Months Ended Six Months Ended June 30 June 30 2016 2015 2016 2015 Operating revenues and other income $ 28 27 55 52 Purchases 25 25 49 47 Operating expenses and selling, general and administrative expenses 12 17 28 35 Net interest (income) expense* (3) (2) (6) (4) *We paid interest to, or received interest from, various affiliates. See Note 6—Investments, Loans and Long-Term Receivables, for additional information on loans to affiliated companies.

Segment Disclosures and Relat39

Segment Disclosures and Related Information (Tables)	6 Months Ended
	Jun. 30, 2016
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 2016 2015 2016 2015 Sales and Other Operating Revenues Alaska $ 936 1,338 1,714 2,388 Lower 48 2,395 3,176 4,540 6,315 Intersegment eliminations (5) (13) (12) (35) Lower 48 2,390 3,163 4,528 6,280 Canada 391 653 816 1,356 Intersegment eliminations (30) (79) (65) (189) Canada 361 574 751 1,167 Europe and North Africa 736 1,775 1,659 3,324 Intersegment eliminations - (1) - (1) Europe and North Africa 736 1,774 1,659 3,323 Asia Pacific and Middle East 897 1,286 1,734 2,674 Corporate and Other 28 158 83 177 Consolidated sales and other operating revenues $ 5,348 8,293 10,469 16,009 Net Income (Loss) Attributable to ConocoPhillips Alaska $ 147 195 145 340 Lower 48 (771) (293) (1,591) (698) Canada (175) (166) (469) (324) Europe and North Africa 20 36 (31) 672 Asia Pacific and Middle East 72 328 67 723 Other International (29) (147) (53) (239) Corporate and Other (335) (132) (608) (381) Consolidated net income (loss) attributable to ConocoPhillips $ (1,071) (179) (2,540) 93 Millions of Dollars June 30 December 31 2016 2015 Total Assets Alaska $ 12,612 12,555 Lower 48 24,271 26,932 Canada 18,400 17,221 Europe and North Africa 13,060 13,703 Asia Pacific and Middle East 21,769 22,318 Other International 375 282 Corporate and Other 5,567 4,473 Consolidated total assets $ 96,054 97,484

Supplementary Information - C40

Supplementary Information - Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2016
Supplementary Information - Condensed Consolidating Financial Information [Abstract]
Condensed Consolidated Income Statement	Millions of Dollars Three Months Ended June 30, 2016 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 $ - 2,284 - 3,064 - 5,348 Equity in earnings (losses) of affiliates (1,003) (21) - 145 959 80 Gain on dispositions - 63 - 65 - 128 Other income - 1 - 18 - 19 Intercompany revenues 26 68 60 928 (1,082) - Total Revenues and Other Income (977) 2,395 60 4,220 (123) 5,575 Costs and Expenses Purchased commodities - 1,998 - 682 (678) 2,002 Production and operating expenses - 488 - 1,191 (234) 1,445 Selling, general and administrative expenses 2 136 - 29 - 167 Exploration expenses - 551 - 59 - 610 Depreciation, depletion and amortization - 306 - 2,023 - 2,329 Impairments - 37 - 25 - 62 Taxes other than income taxes - 39 - 158 - 197 Accretion on discounted liabilities - 12 - 100 - 112 Interest and debt expense 126 164 57 135 (170) 312 Foreign currency transaction (gains) losses 2 - (79) 60 - (17) Total Costs and Expenses 130 3,731 (22) 4,462 (1,082) 7,219 Income (loss) before income taxes (1,107) (1,336) 82 (242) 959 (1,644) Income tax provision (benefit) (36) (333) 19 (236) - (586) Net income (loss) (1,071) (1,003) 63 (6) 959 (1,058) Less: net income attributable to noncontrolling interests - - - (13) - (13) Net Income (Loss) Attributable to ConocoPhillips $ (1,071) (1,003) 63 (19) 959 (1,071) Comprehensive Income (Loss) Attributable to ConocoPhillips $ (1,296) (1,228) 51 (215) 1,392 (1,296) Income Statement Three Months Ended June 30, 2015 Revenues and Other Income Sales and other operating revenues $ - 3,102 - 5,191 - 8,293 Equity in earnings (losses) 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) before income taxes (210) (335) (140) 569 25 (91) Income tax provision (benefit) (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 Millions of Dollars Six Months Ended June 30, 2016 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 $ - 4,356 - 6,113 - 10,469 Equity in earnings (losses) of affiliates (2,430) (771) - (299) 3,431 (69) Gain on dispositions - 85 - 66 - 151 Other income (loss) - (5) - 44 - 39 Intercompany revenues 44 149 116 1,453 (1,762) - Total Revenues and Other Income (2,386) 3,814 116 7,377 1,669 10,590 Costs and Expenses Purchased commodities - 3,846 - 1,561 (1,180) 4,227 Production and operating expenses - 741 - 2,295 (237) 2,799 Selling, general and administrative expenses 5 290 - 64 (6) 353 Exploration expenses - 982 - 133 - 1,115 Depreciation, depletion and amortization - 563 - 4,013 - 4,576 Impairments - 41 - 157 - 198 Taxes other than income taxes - 96 - 281 - 377 Accretion on discounted liabilities - 24 - 197 - 221 Interest and debt expense 250 298 112 272 (339) 593 Foreign currency transaction (gains) losses (42) 2 233 (194) - (1) Total Costs and Expenses 213 6,883 345 8,779 (1,762) 14,458 Loss before income taxes (2,599) (3,069) (229) (1,402) 3,431 (3,868) Income tax provision (benefit) (59) (639) 1 (657) - (1,354) Net loss (2,540) (2,430) (230) (745) 3,431 (2,514) Less: net income attributable to noncontrolling interests - - - (26) - (26) Net Loss Attributable to ConocoPhillips $ (2,540) (2,430) (230) (771) 3,431 (2,540) Comprehensive Income (Loss) Attributable to ConocoPhillips $ (1,664) (1,554) 4 230 1,320 (1,664) Income Statement Six Months Ended June 30, 2015 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) before income taxes 3 (175) 245 1,022 (1,542) (447) Income tax benefit (90) (436) (9) (34) - (569) 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)
Schedule of Condensed Balance Sheet	Millions of Dollars June 30, 2016 Balance Sheet ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Assets Cash and cash equivalents $ - 265 10 2,588 - 2,863 Short-term investments - - - 1,289 - 1,289 Accounts and notes receivable 11 1,401 24 4,622 (2,742) 3,316 Inventories - 100 - 1,050 - 1,150 Prepaid expenses and other current assets 1 141 167 519 (187) 641 Total Current Assets 12 1,907 201 10,068 (2,929) 9,259 Investments, loans and long-term receivables* 40,356 61,672 3,501 27,849 (111,354) 22,024 Net properties, plants and equipment - 6,994 - 56,691 - 63,685 Other assets 8 1,835 229 1,298 (2,284) 1,086 Total Assets $ 40,376 72,408 3,931 95,906 (116,567) 96,054 Liabilities and Stockholders’ Equity Accounts payable $ - 3,234 6 3,320 (2,742) 3,818 Short-term debt (10) (2) 1,256 87 - 1,331 Accrued income and other taxes - 51 - 503 - 554 Employee benefit obligations - 370 - 168 - 538 Other accruals 170 262 59 802 (186) 1,107 Total Current Liabilities 160 3,915 1,321 4,880 (2,928) 7,348 Long-term debt 9,120 13,635 1,713 2,878 - 27,346 Asset retirement obligations and accrued environmental costs - 1,127 - 8,693 - 9,820 Deferred income taxes - - - 11,360 (1,705) 9,655 Employee benefit obligations - 2,034 - 499 - 2,533 Other liabilities and deferred credits* 114 6,877 811 16,099 (22,380) 1,521 Total Liabilities 9,394 27,588 3,845 44,409 (27,013) 58,223 Retained earnings (losses) 26,725 14,937 (619) 13,262 (21,057) 33,248 Other common stockholders’ equity 4,257 29,883 705 37,948 (68,497) 4,296 Noncontrolling interests - - - 287 - 287 Total Liabilities and Stockholders’ Equity $ 40,376 72,408 3,931 95,906 (116,567) 96,054 *Includes intercompany loans. Balance Sheet December 31, 2015 Assets Cash and cash equivalents $ - 4 15 2,349 - 2,368 Accounts and notes receivable 21 2,905 21 7,228 (5,661) 4,514 Inventories - 142 - 982 - 1,124 Prepaid expenses and other current assets 2 206 252 589 (266) 783 Total Current Assets 23 3,257 288 11,148 (5,927) 8,789 Investments, loans and long-term receivables* 43,532 64,015 3,264 27,839 (117,464) 21,186 Net properties, plants and equipment - 8,110 - 58,336 - 66,446 Other assets 7 950 233 1,158 (1,285) 1,063 Total Assets $ 43,562 76,332 3,785 98,481 (124,676) 97,484 Liabilities and Stockholders’ Equity Accounts payable $ - 5,684 13 4,897 (5,661) 4,933 Short-term debt (9) 1 1,255 180 - 1,427 Accrued income and other taxes - 62 - 437 - 499 Employee benefit obligations - 629 - 258 - 887 Other accruals 170 465 52 1,087 (264) 1,510 Total Current Liabilities 161 6,841 1,320 6,859 (5,925) 9,256 Long-term debt 7,518 10,660 1,716 3,559 - 23,453 Asset retirement obligations and accrued environmental costs - 1,107 - 8,473 - 9,580 Deferred income taxes - - - 11,814 (815) 10,999 Employee benefit obligations - 1,760 - 526 - 2,286 Other liabilities and deferred credits* 2,681 7,291 667 15,181 (23,992) 1,828 Total Liabilities 10,360 27,659 3,703 46,412 (30,732) 57,402 Retained earnings (losses) 29,892 17,366 (389) 15,177 (25,632) 36,414 Other common stockholders’ equity 3,310 31,307 471 36,572 (68,312) 3,348 Noncontrolling interests - - - 320 - 320 Total Liabilities and Stockholders’ Equity $ 43,562 76,332 3,785 98,481 (124,676) 97,484 *Includes intercompany loans.
Condensed Consolidated Statement of Cash Flows	Millions of Dollars Six Months Ended June 30, 2016 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 $ (153) 572 (5) 2,229 (963) 1,680 Cash Flows From Investing Activities Capital expenditures and investments - (823) - (2,532) 401 (2,954) Working capital changes associated with investing activities - (76) - (287) - (363) Proceeds from asset dispositions 2,300 160 - 227 (2,324) 363 Purchases of short-term investments - - - (1,292) - (1,292) Long-term advances/loans—related parties - (803) - - 803 - Collection of advances/loans—related parties - - - 1,626 (1,573) 53 Intercompany cash management (3,190) 2,127 - 1,063 - - Other - 2 - 4 - 6 Net Cash Provided by (Used in) Investing Activities (890) 587 - (1,191) (2,693) (4,187) Cash Flows From Financing Activities Issuance of debt 1,600 2,994 - 803 (803) 4,594 Repayment of debt - (1,573) - (827) 1,573 (827) Issuance of company common stock 70 - - - (115) (45) Dividends paid (626) - - (1,078) 1,078 (626) Other (1) (2,319) - 318 1,923 (79) Net Cash Provided by (Used in) Financing Activities 1,043 (898) - (784) 3,656 3,017 Effect of Exchange Rate Changes on Cash and Cash Equivalents - - - (15) - (15) Net Change in Cash and Cash Equivalents - 261 (5) 239 - 495 Cash and cash equivalents at beginning of period - 4 15 2,349 - 2,368 Cash and Cash Equivalents at End of Period $ - 265 10 2,588 - 2,863 Statement of Cash Flows Six Months Ended June 30, 2015 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

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Inventories
Crude oil and petroleum products	$ 463	$ 406
Materials and supplies	687	718
Total Inventories	1,150	1,124
Inventories (Textual) [Abstract]
Inventories valued on the LIFO basis	331	317
Excess of current replacement cost over LIFO cost of inventories	$ 74	$ 6

Assets Held for Sale or Sold (D

Assets Held for Sale or Sold (Details) - Beluga River Unit $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Long Lived Assets Held For Sale [LineItems]
Net carrying value	$ 78
Amount of PP&E in carrying value of assets	100
Asset retirement obligation of held for sale asset	19
Proceeds from asset dispositions	134
Gain (Loss) on Sale of Oil and Gas Property	$ 56

Investments, Loans and Long-T43

Investments, Loans and Long-Term Receivables (Details) - USD ($) $ in Millions		3 Months Ended
		Jun. 30, 2015	Jun. 30, 2016	Dec. 31, 2015
Equity method investments
Cumulative foreign currency translation adjustment	[1]		$ (4,845)	$ (5,804)
Australia Pacific LNG [Member]
Equity method investments
Book value of investment			10,327
Project finance facility			8,500
Amount drawn from project finance facility			8,500
Fair value of investment			0
Unrecognized impairment			0
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			750
FCCL [Member]
Equity method investments
Book value of investment			8,939
Cumulative foreign currency translation adjustment			$ 1,363
Distribution from equity affiliate		$ 0
[1]	Foreign Currency Translation increased due to the weakening of the U.S. dollar relative to the Canadian dollar, Australian dollar and Norwegian krone.

Suspended Wells and Wells in 44

Suspended Wells and Wells in Progress (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Suspended Wells (Textual) [Abstract]
Capitalized cost of suspended wells	$ 1,293	$ 1,260
Increase (decrease) in capitalized cost of suspended wells	33
Wells charged to dry hole expense	$ 100
Number of wells charged to dry hole expense	Two

Impairments (Details)

Impairments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	$ 62	$ 78	$ 198	$ 94
Exploration Expense	610	549	1,115	1,031
Lower 48 [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	51	0	60
Gulf of Mexico [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense	203		73
Melmar [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense			95
Europe and North Africa [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	10	71	137	87
ALASKA [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges		$ 7		$ 7
Asia Pacific and Middle East [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	$ 1		$ 1

Debt (Details Textual)

Debt (Details Textual) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
ShortTermBorrowings [Abstract]
Maturity period of commercial paper (in days)		P90D
Letters of credit issued	$ 290	$ 290
Debt (Textual) [Abstract]
Classification of short-term debt as long-term debt	$ 0
Debt to capital ratio	0.65	0.65
4.2% Notes due 2021 [Member]
Long-term debt
Debt at face value	$ 1,250	$ 1,250
Stated percentage of debt	4.20%	4.20%
Floating Rate Notes due 2019 [Member]
Long-term debt
Debt at face value	$ 1,600	$ 1,600
Stated percentage of debt minimum		0.50%
Stated percentage of debt maximum		1.50%
Debt Instrument Term		3 years
LIBOR [Member]
Long-term debt
Stated percentage of debt minimum		1.50%
Stated percentage of debt maximum		2.00%
Base Rate [Member]
Long-term debt
Stated percentage of debt minimum		0.50%
Stated percentage of debt maximum		1.00%
4.95% Notes due 2026 [Member]
Long-term debt
Debt at face value	$ 1,250	$ 1,250
Stated percentage of debt	4.95%	4.95%
5.95% Notes due 2046 [Member]
Long-term debt
Debt at face value	$ 500	$ 500
Stated percentage of debt	5.95%	5.95%
Marine Terminal Revenue Refunding Bonds due through 2035
Long-term debt
Debt at face value	$ 283	$ 283
Revolving Credit Facilities [Member]
ShortTermBorrowings [Abstract]
Total amount under revolving credit facilities	6,750	6,750	$ 7,000
Letters of credit issued	0	0
Credit facilities remaining after commercial paper outstanding and issuance of letters of credit	6,750	6,750
ConocoPhillips [Member]
ShortTermBorrowings [Abstract]
Commercial paper program	6,250	6,250
ConocoPhillips Qatar Funding Ltd. [Member]
ShortTermBorrowings [Abstract]
Commercial paper program	500	500
Commercial paper outstanding	$ 0	$ 0	$ 803

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Activity for equity attributable to noncontrolling interests
Beginning Balance				$ 40,082	$ 52,273
Net income (loss)		$ (1,058)	$ (164)	(2,514)	122
Dividends paid				(626)	(1,819)
Distributions to noncontrolling interests				(59)	(43)
Other	[1]			948	(1,564)
Ending Balance		37,831	48,969	37,831	48,969
Common Stockholders' Equity [Member]
Activity for equity attributable to noncontrolling interests
Beginning Balance				39,762	51,911
Net income (loss)				(2,540)	93
Dividends paid				(626)	(1,819)
Other				948	(1,565)
Ending Balance		37,544	48,620	37,544	48,620
Noncontrolling Interest [Member]
Activity for equity attributable to noncontrolling interests
Beginning Balance				320	362
Net income (loss)				26	29
Distributions to noncontrolling interests				(59)	(43)
Other					1
Ending Balance		$ 287	$ 349	$ 287	$ 349
[1]	*Includes components of other comprehensive income (loss), which are disclosed separately in the Consolidated Statement of Comprehensive Income.

Guarantees (Details)

Guarantees (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Guarantees (Textual) [Abstract]
Environmental accruals for known contamination in carrying amount recorded for indemnifications	$ 262	$ 258
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	$ 80
Terms of guarantees outstanding	1 year
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	3,200
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	$ 160
Terms of guarantees outstanding	up to 29 years or the life of the venture
Other Guarantees [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments	$ 530
Terms of guarantees outstanding	up to eight years
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	$ 1,500
Terms of guarantees outstanding	eight years
Carrying value of the guarantee to third-party lenders	$ 98
Carrying value of indemnification asset	98
Guarantee existing sales agreement of natural gas delivery | Australia Pacific APLNG [Member]
Guarantees (Textual) [Abstract]
Maximum potential amount of future payments	1,000
Maximum potential amount of future payments under the guarantees in the event of intentional or reckless breach	$ 1,900
Terms of guarantees outstanding	1 to 26 years

Contingencies and Commitments (

Contingencies and Commitments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Contingencies and Commitments (Textual) [Abstract]
Total environmental accrual included in balance sheet	$ 262	$ 258
Expected years to incur the majority of expenditures	30 years
Letters of credit that secure performance obligations	$ 290

Derivative and Financial Inst50

Derivative and Financial Instruments - Commodity Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	$ 333	$ 768
Other assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	40	60
Other accruals [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	359	754
Other liabilities and deferred credits [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	$ 33	$ 46

Derivative and Financial Inst51

Derivative and Financial Instruments - Commodity GainLoss (Details 1) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Sales and other operating revenues [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ (163)	$ 44	$ (166)	$ 28
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	(3)	2	(2)	1
Purchased commodities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ 130	$ (47)	$ 129	$ (3)

Derivative and Financial Inst52

Derivative and Financial Instruments - Commodity Notional (Details 2) - ft3 / D ft3 / D in Billions	Jun. 30, 2016	Dec. 31, 2015
Natural gas and power, Fixed price [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	(11)	(14)
Natural gas and power, Basis [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	27	(17)

Derivative and Financial Inst53

Derivative and Financial Instruments - FX Balance Sheet (Details 3) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative assets	$ 0	$ 47
Other Accruals [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative liabilities	$ 104	$ 8

Derivative and Financial Inst54

Derivative and Financial Instruments - FX GainLoss (Details 4) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Foreign currency transaction (gains) losses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency transaction (gains) losses	$ 86	$ (37)	$ 183	$ (13)

Derivative and Financial Inst55

Derivative and Financial Instruments - FX Notional (Details 5) - Foreign Currency Exchange Derivative [Member] £ in Millions, $ in Millions		Jun. 30, 2016GBP (£)	Jun. 30, 2016USD ($)	Dec. 31, 2015GBP (£)	Dec. 31, 2015USD ($)
Sell US Dollar Buy Other Currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives	[1]		$ 2		$ 347
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]		$ 0		$ 20
Buy British pound, sell other currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives | £	[3]	£ 1,076		£ 567
[1]	*Primarily Canadian dollar, Norwegian krone and British pound.
[2]	**Primarily Canadian dollar and Norwegian krone.
[3]	***Primarily Canadian dollar and euro.

Derivative and Financial Inst56

Derivative and Financial Instruments - Financial Instruments (Details 6) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents Total	$ 2,863	$ 2,368	$ 3,813	$ 5,062	$ 5,062
Cash and Cash Equivalents [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash	837	528
Time Deposits	2,026	$ 1,840
Commercial Paper	0
Cash and Cash Equivalents [Member] | Short-term Investment [Member]
Schedule of Held-to-maturity Securities [Line Items]
Time Deposits	1,289
Cash and Cash Equivalents [Member] | Remaining maturities from 1 to 90 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Time Deposits	682
Cash and Cash Equivalents [Member] | Remaining maturities from 91 to 180 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Time Deposits	$ 607

Derivative and Financial Inst57

Derivative and Financial Instruments (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Schedule of Credit Risk [Line items]
Aggregate fair value of all derivative instruments in a liability position	$ 79	$ 158
Collateral was posted for derivative instruments in a liability position	1	$ 2
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	$ 78
Financial instruments [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Terms of financial instruments and trade receivables	90 days
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, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation investments	$ 0
Commodity derivative asset, gross	373	$ 828
Total assets	373	828
Commodity derivative liability, gross	392	800
Total liabilities	392	800
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation investments	0
Commodity derivative asset, gross	220	516
Total assets	220	516
Commodity derivative liability, gross	234	515
Total liabilities	234	515
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative asset, gross	129	242
Total assets	129	242
Commodity derivative liability, gross	141	273
Total liabilities	141	273
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative asset, gross	24	70
Total assets	24	70
Commodity derivative liability, gross	17	12
Total liabilities	$ 17	$ 12

Fair Value Measurement - FV of

Fair Value Measurement - FV of Commodity Derivatives (Details 1) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Offsetting Derivative Assets[Abstract]
Assets - gross amounts recognized	$ 373	$ 828
Assets - gross amounts offset	275	600
Assets - net amounts presented	98	228
Assets - cash collateral	0	0
Assets - amounts without right of setoff	8	8
Assets - net amounts	90	220
Offsetting Derivative Liabilities [Abstract]
Liabilities - gross amounts recognized	392	800
Liabilities - gross amounts offset	275	600
Liabilities - net amounts presented	117	200
Liabilities - cash collateral	10	1
Liabilities - amounts without right of setoff	14	11
Liabilities - net amounts	$ 93	$ 188

Faire Value Measurement - Nonre

Faire Value Measurement - Nonrecurring (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value - Net PP&E (held for use)	$ 23	$ 217
Before-Tax Loss - Net PP&E (held for use)	53	129
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)	$ 23	$ 217

Fair Value Measurement - FV o61

Fair Value Measurement - FV of Fin. Instruments (Details 2) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Financial Assets [Abstract]
Deferred compensation investments	$ 0
Commodity derivatives, assets	98	$ 228
Financial Liabilities [Abstract]
Commodity derivatives, liabilities	117	200
Carrying Amount [Member]
Financial Assets [Abstract]
Deferred compensation investments	0	0
Commodity derivatives, assets	98	228
Total loans and advances - related parties	755	808
Financial Liabilities [Abstract]
Total debt, excluding capital leases, carrying amount	27,824	24,062
Commodity derivatives, liabilities	107	199
Deferred Compensation Liquidation [Member]
Financial Assets [Abstract]
Deferred compensation investments	267
Fair Value [Member]
Financial Assets [Abstract]
Deferred compensation investments	0	0
Commodity derivatives, assets	98	228
Total loans and advances - related parties	755	808
Financial Liabilities [Abstract]
Total debt, excluding capital leases, fair value	31,001	24,785
Commodity derivatives, liabilities	$ 107	$ 199

Accumulated Other Comprehensi62

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2016		Jun. 30, 2015	Jun. 30, 2016		Jun. 30, 2015
Accumulated other comprehensive income in the equity section of the balance sheet included
Defined Benefit Plans, Beginning Balance					$ (443)
Foreign Currency Translation, Beginning Balance	[1]				(5,804)
Accumulated Other Comprehensive Income, Beginning Balance					(6,247)
Defined Benefit Plans		$ (1)		$ 161	(83)		$ 193
Foreign Currency Translation		(224)	[1]	787	959	[1]	(1,932)
Other Comprehensive Income, Net of Tax		(225)		$ 948	876		$ (1,739)
Defined Benefit Plans, Ending Balance		(526)			(526)
Foreign Currency Translation, Ending Balance	[1]	(4,845)			(4,845)
Accumulated Other Comprehensive Income, Ending Balance		$ (5,371)			$ (5,371)
[1]	Foreign Currency Translation increased due to the weakening of the U.S. dollar relative to the Canadian dollar, Australian dollar and Norwegian krone.

Accumulated Other Comprehensi63

Accumulated Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification out of Accumulated Other Comprehensive Income [Abstract]
Defined Benefit Plans	[1],[2]	$ 42	$ 64	$ 105	$ 96
Tax expense of defined benefit plans	[1],[2]	$ 23	$ 35	$ 59	$ 52
[1]	Above amounts are included in the computation of net periodic benefitcost and are presented net of tax expense of: $23,$35,$59,$52
[2]	See Note 17—Employee Benefit Plans, for additional information.

Cash Flow Information (Details)

Cash Flow Information (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
Cash payments (receipts)
Interest		$ 526	$ 399
Income taxes	[1]	(366)	172
Proceeds From Income Tax Refunds		569	$ 556
Net Purchases of Short-Term Investments
Short-term investments purchased		(1,599)
Short-term investments sold		307
Net sale (purchases) of short-term investments		$ (1,292)
[1]	*Net of $569 million and $556 million in 2016 and 2015, respectively, related to refunds received from the Internal Revenue Service.

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
U.S. (Pension Benefits) [Member]
Components of Net Periodic Benefit Cost
Service cost	$ 28	$ 36	$ 55	$ 72
Interest cost	32	39	72	79
Expected return on plan assets	(35)	(53)	(78)	(107)
Amortization of prior service cost	1	1	2	3
Recognized net actuarial (gain) loss	23	29	42	57
Settlements	45	52	127	52
Net periodic benefit cost	94	104	220	156
Int'l (Pension Benefits) [Member]
Components of Net Periodic Benefit Cost
Service cost	20	31	40	63
Interest cost	32	34	63	68
Expected return on plan assets	(41)	(43)	(82)	(87)
Amortization of prior service cost	(2)	(2)	(3)	(4)
Recognized net actuarial (gain) loss	7	21	14	42
Net periodic benefit cost	16	41	32	82
Other Benefits [Member]
Components of Net Periodic Benefit Cost
Service cost	0	0	1	1
Interest cost	4	7	7	14
Amortization of prior service cost	(8)	(2)	(17)	(3)
Recognized net actuarial (gain) loss	(1)	0	(1)	1
Net periodic benefit cost	$ (5)	$ 5	$ (10)	$ 13

Employee Benefit Plans (Detai66

Employee Benefit Plans (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Employee Benefit Plans (Textual) [Abstract]
Increase in pension liability	$ 69	$ (15)	$ 300	$ (15)
Discount rate for net pension liability					4.50%
U.S. (Pension Benefits) [Member]
Employee Benefit Plans (Textual) [Abstract]
Company contributions			111
Expected company contributions			260
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements	(45)	$ (52)	(127)	$ (52)
Increase in pension liability	$ 69		$ 300
U.S. Qualified [Member]
Employee Benefit Plans (Textual) [Abstract]
Discount rate for net pension liability	3.60%		3.60%
U.S. Nonqualified [Member]
Employee Benefit Plans (Textual) [Abstract]
Discount rate for net pension liability	3.15%		3.15%
Int'l (Pension Benefits) [Member]
Employee Benefit Plans (Textual) [Abstract]
Company contributions			$ 61
Expected company contributions			$ 130

Employee Benefit Plans (Severan

Employee Benefit Plans (Severances) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Supplemental Unemployment Benefits [Line Items]
Foreign currency translation adjustments	$ (224)	$ 796	$ 959	$ (1,949)
Employee Severance
Supplemental Unemployment Benefits [Line Items]
Severance Accrual	49		49		$ 156
Payments For Postemployment Benefits	(115)
Severance accrual current period change	7
Foreign currency translation adjustments	2
Short term portion of severance accrual	16		$ 16
Employee severance accrual reversal [Member]
Supplemental Unemployment Benefits [Line Items]
Severance accrual current period change	$ (1)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Significant transactions with related parties
Operating revenues and other income		$ 28	$ 27	$ 55	$ 52
Purchases		25	25	49	47
Operating expenses and selling, general and administrative expenses		12	17	28	35
Net interest (income) expense	[1]	$ (3)	$ (2)	$ (6)	$ (4)
[1]	*We paid interest to, or received interest from, various affiliates. See Note 6—Investments, Loans and Long-Term Receivables, for additional

Segment Disclosures and Relat69

Segment Disclosures and Related Information - Sales (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 5,348	$ 8,293	$ 10,469	$ 16,009
Alaska [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	936	1,338	1,714	2,388
Lower 48 Before Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	2,395	3,176	4,540	6,315
Intersegment Eliminations before Lower 48 and Latin America [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	(5)	(13)	(12)	(35)
Lower 48 [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	2,390	3,163	4,528	6,280
Canada before Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	391	653	816	1,356
Intersegment Eliminations before Canada [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	(30)	(79)	(65)	(189)
Canada [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	361	574	751	1,167
Europe before Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	736	1,775	1,659	3,324
Intersegment Eliminations before Europe [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	(1)		(1)
Europe and North Africa [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	736	1,774	1,659	3,323
Asia Pacific Before Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	897	1,286	1,734	2,674
Other International [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	0	0	0
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 28	$ 158	$ 83	$ 177

Segment Disclosures and Relat70

Segment Disclosures and Related Information - Net Income (Details 1) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	$ (1,071)	$ (179)	$ (2,540)	$ 93
Alaska [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	147	195	145	340
Lower 48 [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	(771)	(293)	(1,591)	(698)
Canada [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	(175)	(166)	(469)	(324)
Europe and North Africa [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	20	36	(31)	672
Asia Pacific and Middle East [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	72	328	67	723
Other International [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	(29)	(147)	(53)	(239)
Corporate and Other [Member]
Net Income Attributable to ConocoPhillips
Consolidated net income (loss) attributable to ConocoPhillips	$ (335)	$ (132)	$ (608)	$ (381)

Segment Disclosures and Relat71

Segment Disclosures and Related Information (Details Textual)	6 Months Ended
	Jun. 30, 2016
Segment Disclosures and Related Information (Textual) [Abstract]
Number of operating segments	6

Segment Disclosures and Relat72

Segment Disclosures and Related Information - Assets (Details 2) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Assets [Abstract]
Consolidated total assets	$ 96,054	$ 97,484
Alaska [Member]
Assets [Abstract]
Consolidated total assets	12,612	12,555
Lower 48 [Member]
Assets [Abstract]
Consolidated total assets	24,271	26,932
Canada [Member]
Assets [Abstract]
Consolidated total assets	18,400	17,221
Europe [Member]
Assets [Abstract]
Consolidated total assets	13,060	13,703
Asia Pacific and Middle East [Member]
Assets [Abstract]
Consolidated total assets	21,769	22,318
Other International [Member]
Assets [Abstract]
Consolidated total assets	375	282
Corporate and Other [Member]
Assets [Abstract]
Consolidated total assets	$ 5,567	$ 4,473

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Taxes (Textual) [Abstract]
Effective tax rate	36.00%	80.00%	35.00%	127.00%
Current Income Tax Expense Benefit [Line Items]
Income Tax Expense (Benefit)	$ (586)	$ 73	$ (1,354)	$ (569)
Canada [Member]
Current Income Tax Expense Benefit [Line Items]
Foreign 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]
Foreign Tax Benefit/Expense				$ (555)
Corporation Tax Rate pre legislation				62.00%
Corporation Tax Rate post legislation				50.00%
DeferredStateTaxRecognitionMember [Member]
Current Income Tax Expense Benefit [Line Items]
Foreign Tax Benefit/Expense			$ (68)

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	3 Months Ended
	Sep. 30, 2016USD ($)
Senegal [Member]
Subsequent Event [Line Items]
Proceeds from asset dispositions	$ 350
Net carrying value	$ 273
Workforce Reduction	6.00%
Customary Adjustments [Member]
Subsequent Event [Line Items]
Proceeds from asset dispositions	$ 80
APLNG Tax Functional Currency Change [Member]
Subsequent Event [Line Items]
Income (Loss) from Equity Method Investments	200
Rig Cancellation [Member]
Subsequent Event [Line Items]
Exploration Expense	$ 140

Supplementary Information - C75

Supplementary Information - Condensed Consolidating Financial Information - Inc Stmt (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues and Other Income
Sales and other operating revenues	$ 5,348	$ 8,293	$ 10,469	$ 16,009
Equity in earnings (losses) of affiliates	80	258	(69)	463
Gain (loss) on dispositions	128	52	151	104
Other income	19	57	39	86
Intercompany revenues	0	0
Total Revenues and Other Income	5,575	8,660	10,590	16,662
Costs and Expenses
Purchased commodities	2,002	3,230	4,227	6,467
Production and operating expenses	1,445	1,798	2,799	3,600
Selling, general and administrative expenses	167	218	353	377
Exploration expenses	610	549	1,115	1,031
Depreciation, depletion and amortization	2,329	2,329	4,576	4,460
Impairments	62	78	198	94
Taxes other than income taxes	197	225	377	449
Accretion on discounted liabilities	112	122	221	243
Interest and debt expense	312	210	593	412
Foreign currency transaction (gains) losses	(17)	(8)	(1)	(24)
Total Costs and Expenses	7,219	8,751	14,458	17,109
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	(1,644)	(91)	(3,868)	(447)
Income tax provision (benefit)	(586)	73	(1,354)	(569)
Net income (loss)	(1,058)	(164)	(2,514)	122
Less: net income attributable to noncontrolling interests	(13)	(15)	(26)	(29)
Net Income (Loss)	(1,071)	(179)	(2,540)	93
Comprehensive Income (Loss) Attributable to ConocoPhillips	(1,296)	769	(1,664)	(1,646)
ConocoPhillips [Member]
Revenues and Other Income
Sales and other operating revenues	0	0	0	0
Equity in earnings (losses) of affiliates	(1,003)	(120)	(2,430)	261
Gain (loss) on dispositions	0	0	0	0
Other income	0	0	0	0
Intercompany revenues	26	18	44	37
Total Revenues and Other Income	(977)	(102)	(2,386)	298
Costs and Expenses
Purchased commodities	0	0	0	0
Production and operating expenses	0	0	0	0
Selling, general and administrative expenses	2	3	5	6
Exploration expenses	0	0	0	0
Depreciation, depletion and amortization	0	0	0	0
Impairments	0	0	0	0
Taxes other than income taxes	0	0	0	0
Accretion on discounted liabilities	0	0	0	0
Interest and debt expense	126	121	250	242
Foreign currency transaction (gains) losses	2	(16)	(42)	47
Total Costs and Expenses	130	108	213	295
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	(1,107)	(210)	(2,599)	3
Income tax provision (benefit)	(36)	(31)	(59)	(90)
Net income (loss)	(1,071)	(179)	(2,540)	93
Less: net income attributable to noncontrolling interests	0	0	0	0
Net Income (Loss)	(1,071)	(179)	(2,540)	93
Comprehensive Income (Loss) Attributable to ConocoPhillips	(1,296)	769	(1,664)	(1,646)
ConocoPhillips Company [Member]
Revenues and Other Income
Sales and other operating revenues	2,284	3,102	4,356	6,035
Equity in earnings (losses) of affiliates	(21)	215	(771)	1,028
Gain (loss) on dispositions	63	2	85	33
Other income	1	10	(5)	17
Intercompany revenues	68	82	149	180
Total Revenues and Other Income	2,395	3,411	3,814	7,293
Costs and Expenses
Purchased commodities	1,998	2,568	3,846	5,128
Production and operating expenses	488	395	741	795
Selling, general and administrative expenses	136	162	290	282
Exploration expenses	551	143	982	343
Depreciation, depletion and amortization	306	301	563	560
Impairments	37	0	41	0
Taxes other than income taxes	39	50	96	119
Accretion on discounted liabilities	12	15	24	29
Interest and debt expense	164	111	298	212
Foreign currency transaction (gains) losses	0	1	2	0
Total Costs and Expenses	3,731	3,746	6,883	7,468
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	(1,336)	(335)	(3,069)	(175)
Income tax provision (benefit)	(333)	(215)	(639)	(436)
Net income (loss)	(1,003)	(120)	(2,430)	261
Less: net income attributable to noncontrolling interests	0	0	0	0
Net Income (Loss)	(1,003)	(120)	(2,430)	261
Comprehensive Income (Loss) Attributable to ConocoPhillips	(1,228)	828	(1,554)	(1,478)
ConocoPhillips Canada Funding Company I [Member]
Revenues and Other Income
Sales and other operating revenues	0	0	0	0
Equity in earnings (losses) of affiliates	0	0	0	0
Gain (loss) on dispositions	0	0	0	0
Other income	0	0	0	0
Intercompany revenues	60	63	116	127
Total Revenues and Other Income	60	63	116	127
Costs and Expenses
Purchased commodities	0	0	0	0
Production and operating expenses	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Exploration expenses	0	0	0	0
Depreciation, depletion and amortization	0	0	0	0
Impairments	0	0	0	0
Taxes other than income taxes	0	0	0	0
Accretion on discounted liabilities	0	0	0	0
Interest and debt expense	57	57	112	114
Foreign currency transaction (gains) losses	(79)	146	233	(232)
Total Costs and Expenses	(22)	203	345	(118)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	82	(140)	(229)	245
Income tax provision (benefit)	19	(20)	1	(9)
Net income (loss)	63	(120)	(230)	254
Less: net income attributable to noncontrolling interests	0	0	0	0
Net Income (Loss)	63	(120)	(230)	254
Comprehensive Income (Loss) Attributable to ConocoPhillips	51	(33)	4	(3)
All Other Subsidiaries [Member]
Revenues and Other Income
Sales and other operating revenues	3,064	5,191	6,113	9,974
Equity in earnings (losses) of affiliates	145	138	(299)	716
Gain (loss) on dispositions	65	50	66	71
Other income	18	47	44	69
Intercompany revenues	928	952	1,453	1,795
Total Revenues and Other Income	4,220	6,378	7,377	12,625
Costs and Expenses
Purchased commodities	682	1,610	1,561	3,104
Production and operating expenses	1,191	1,405	2,295	2,839
Selling, general and administrative expenses	29	53	64	98
Exploration expenses	59	406	133	688
Depreciation, depletion and amortization	2,023	2,028	4,013	3,900
Impairments	25	78	157	94
Taxes other than income taxes	158	175	281	330
Accretion on discounted liabilities	100	107	197	214
Interest and debt expense	135	86	272	175
Foreign currency transaction (gains) losses	60	(139)	(194)	161
Total Costs and Expenses	4,462	5,809	8,779	11,603
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	(242)	569	(1,402)	1,022
Income tax provision (benefit)	(236)	339	(657)	(34)
Net income (loss)	(6)	230	(745)	1,056
Less: net income attributable to noncontrolling interests	(13)	(15)	(26)	(29)
Net Income (Loss)	(19)	215	(771)	1,027
Comprehensive Income (Loss) Attributable to ConocoPhillips	(215)	988	230	(886)
Consolidating Adjustments [Member]
Revenues and Other Income
Sales and other operating revenues	0	0	0	0
Equity in earnings (losses) of affiliates	959	25	3,431	(1,542)
Gain (loss) on dispositions	0	0	0	0
Other income	0	0	0	0
Intercompany revenues	(1,082)	(1,115)	(1,762)	(2,139)
Total Revenues and Other Income	(123)	(1,090)	1,669	(3,681)
Costs and Expenses
Purchased commodities	(678)	(948)	(1,180)	(1,765)
Production and operating expenses	(234)	(2)	(237)	(34)
Selling, general and administrative expenses	0	0	(6)	(9)
Exploration expenses	0	0	0	0
Depreciation, depletion and amortization	0	0	0	0
Impairments	0	0	0	0
Taxes other than income taxes	0	0	0	0
Accretion on discounted liabilities	0	0	0	0
Interest and debt expense	(170)	(165)	(339)	(331)
Foreign currency transaction (gains) losses	0	0	0	0
Total Costs and Expenses	(1,082)	(1,115)	(1,762)	(2,139)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	959	25	3,431	(1,542)
Income tax provision (benefit)	0	0	0	0
Net income (loss)	959	25	3,431	(1,542)
Less: net income attributable to noncontrolling interests	0	0	0	0
Net Income (Loss)	959	25	3,431	(1,542)
Comprehensive Income (Loss) Attributable to ConocoPhillips	$ 1,392	$ (1,783)	$ 1,320	$ 2,367

Supplementary Information - C76

Supplementary Information - Condensed Consolidating Financial Information - Bal Sheet (Details 1) - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets
Cash and cash equivalents		$ 2,863	$ 2,368	$ 3,813	$ 5,062	$ 5,062
Short-term investments		1,289
Accounts and notes receivable		3,316	4,514
Inventories		1,150	1,124
Prepaid expenses and other current assets		641	783
Total Current Assets		9,259	8,789
Investments, loans and long-term receivables	[1]	22,024	21,186
Net properties, plants and equipment		63,685	66,446
Other assets		1,086	1,063
Total Assets		96,054	97,484
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		3,818	4,933
Short-term debt		1,331	1,427
Accrued income and other taxes		554	499
Employee benefit obligations		538	887
Other accruals		1,107	1,510
Total Current Liabilities		7,348	9,256
Long-term debt		27,346	23,453
Asset retirement obligations and accrued environmental costs		9,820	9,580
Deferred income taxes		9,655	10,999
Employee benefit obligations		2,533	2,286
Other liabilities and deferred credits		1,521	1,828
Total Liabilities		58,223	57,402
Retained earnings		33,248	36,414
Other common stockholders' equity		4,296	3,348
Noncontrolling interests		287	320
Total Liabilities and Stockholders' Equity		96,054	97,484
ConocoPhillips [Member]
Assets
Cash and cash equivalents						0
Accounts and notes receivable		11	21
Prepaid expenses and other current assets		1	2
Total Current Assets		12	23
Investments, loans and long-term receivables	[1]	40,356	43,532
Net properties, plants and equipment			0
Other assets		8	7
Total Assets		40,376	43,562
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable			0
Short-term debt		(10)	(9)
Accrued income and other taxes			0
Employee benefit obligations			0
Other accruals		170	170
Total Current Liabilities		160	161
Long-term debt		9,120	7,518
Other liabilities and deferred credits	[1]	114	2,681
Total Liabilities		9,394	10,360
Retained earnings		26,725	29,892
Other common stockholders' equity		4,257	3,310
Total Liabilities and Stockholders' Equity		40,376	43,562
ConocoPhillips Company [Member]
Assets
Cash and cash equivalents		265	4	35	770	770
Accounts and notes receivable		1,401	2,905
Inventories		100	142
Prepaid expenses and other current assets		141	206
Total Current Assets		1,907	3,257
Investments, loans and long-term receivables	[1]	61,672	64,015
Net properties, plants and equipment		6,994	8,110
Other assets		1,835	950
Total Assets		72,408	76,332
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		3,234	5,684
Short-term debt		(2)	1
Accrued income and other taxes		51	62
Employee benefit obligations		370	629
Other accruals		262	465
Total Current Liabilities		3,915	6,841
Long-term debt		13,635	10,660
Asset retirement obligations and accrued environmental costs		1,127	1,107
Deferred income taxes		0	0
Employee benefit obligations		2,034	1,760
Other liabilities and deferred credits	[1]	6,877	7,291
Total Liabilities		27,588	27,659
Retained earnings		14,937	17,366
Other common stockholders' equity		29,883	31,307
Noncontrolling interests			0
Total Liabilities and Stockholders' Equity		72,408	76,332
ConocoPhillips Canada Funding Company I [Member]
Assets
Cash and cash equivalents		10	15	8	7	7
Accounts and notes receivable		24	21
Prepaid expenses and other current assets		167	252
Total Current Assets		201	288
Investments, loans and long-term receivables	[1]	3,501	3,264
Other assets		229	233
Total Assets		3,931	3,785
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		6	13
Short-term debt		1,256	1,255
Other accruals		59	52
Total Current Liabilities		1,321	1,320
Long-term debt		1,713	1,716
Other liabilities and deferred credits	[1]	811	667
Total Liabilities		3,845	3,703
Retained earnings		(619)	(389)
Other common stockholders' equity		705	471
Total Liabilities and Stockholders' Equity		3,931	3,785
All Other Subsidiaries [Member]
Assets
Cash and cash equivalents		2,588	2,349	$ 3,770	$ 4,285	4,285
Short-term investments		1,289	0
Accounts and notes receivable		4,622	7,228
Inventories		1,050	982
Prepaid expenses and other current assets		519	589
Total Current Assets		10,068	11,148
Investments, loans and long-term receivables	[1]	27,849	27,839
Net properties, plants and equipment		56,691	58,336
Other assets		1,298	1,158
Total Assets		95,906	98,481
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		3,320	4,897
Short-term debt		87	180
Accrued income and other taxes		503	437
Employee benefit obligations		168	258
Other accruals		802	1,087
Total Current Liabilities		4,880	6,859
Long-term debt		2,878	3,559
Asset retirement obligations and accrued environmental costs		8,693	8,473
Deferred income taxes		11,360	11,814
Employee benefit obligations		499	526
Other liabilities and deferred credits	[1]	16,099	15,181
Total Liabilities		44,409	46,412
Retained earnings		13,262	15,177
Other common stockholders' equity		37,948	36,572
Noncontrolling interests		287	320
Total Liabilities and Stockholders' Equity		95,906	98,481
Consolidating Adjustments [Member]
Assets
Cash and cash equivalents						$ 0
Accounts and notes receivable		(2,742)	(5,661)
Prepaid expenses and other current assets		(187)	(266)
Total Current Assets		(2,929)	(5,927)
Investments, loans and long-term receivables	[1]	(111,354)	(117,464)
Other assets		(2,284)	(1,285)
Total Assets		(116,567)	(124,676)
Liabilities and Stockholders' Equity
Accounts payable and related party accounts payable		(2,742)	(5,661)
Accrued income and other taxes			0
Other accruals		(186)	(264)
Total Current Liabilities		(2,928)	(5,925)
Deferred income taxes		(1,705)	(815)
Other liabilities and deferred credits	[1]	(22,380)	(23,992)
Total Liabilities		(27,013)	(30,732)
Retained earnings		(21,057)	(25,632)
Other common stockholders' equity		(68,497)	(68,312)
Total Liabilities and Stockholders' Equity		$ (116,567)	$ (124,676)
[1]	*Includes intercompany loans.

Supplementary Information - C77

Supplementary Information - Condensed Consolidating Financial Information - Bal Sheet (Details Textual) $ in Billions	Jun. 30, 2016USD ($)
ConocoPhillips [Member]
Condensed Financial Statements, Captions [Line Items]
Intercompany other liabilities	$ 2.3
Intercompany Investment	(2.3)
ConocoPhillips Company [Member]
Condensed Financial Statements, Captions [Line Items]
Intercompany other liabilities	(2.3)
Intercompany return of capital	$ 2.3

Supplementary Information - C78

Supplementary Information - Condensed Consolidating Financial Information - Cash Flow (Details 2) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	$ 1,680	$ 4,042
Cash Flows From Investing Activities
Capital expenditures and investments	(2,954)	(5,739)
Working capital changes associated with investing activities	(363)	(678)
Proceeds from asset dispositions	363	294
Net sales (purchases) of short-term investments	(1,292)
Collection of advances/loans-related parties	53	52
Other	6	291
Net Cash Provided by (Used in) Investing Activities	(4,187)	(5,780)
Cash Flows From Financing Activities
Issuance of debt	4,594	2,498
Repayment of debt	(827)	(62)
Issuance of company common stock	(45)	(46)
Dividends paid	(626)	(1,819)
Other	(79)	(35)
Net Cash Provided by (Used in) Financing Activities	3,017	536
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(15)	(47)
Net Change in Cash and Cash Equivalents	495	(1,249)
Cash and cash equivalents at beginning of period	2,368	5,062
Cash and Cash Equivalents at End of Period	2,863	3,813
ConocoPhillips [Member]
Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	(153)	(124)
Cash Flows From Investing Activities
Capital expenditures and investments		0
Working capital changes associated with investing activities		0
Proceeds from asset dispositions	2,300	2,000
Net sales (purchases) of short-term investments		0
Long-term advances/loans-related parties		0
Collection of advances/loans-related parties		0
Intercompany cash management	(3,190)	(231)
Other		0
Net Cash Provided by (Used in) Investing Activities	(890)	1,769
Cash Flows From Financing Activities
Issuance of debt	1,600
Repayment of debt	0	0
Issuance of company common stock	70	172
Dividends paid	(626)	(1,819)
Other	(1)	2
Net Cash Provided by (Used in) Financing Activities	1,043	(1,645)
Net Change in Cash and Cash Equivalents		0
ConocoPhillips Company [Member]
Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	572	348
Cash Flows From Investing Activities
Capital expenditures and investments	(823)	(1,642)
Working capital changes associated with investing activities	(76)	(27)
Proceeds from asset dispositions	160	94
Net sales (purchases) of short-term investments		0
Long-term advances/loans-related parties	(803)	(179)
Collection of advances/loans-related parties	0	0
Intercompany cash management	2,127	(574)
Other	2	292
Net Cash Provided by (Used in) Investing Activities	587	(2,036)
Cash Flows From Financing Activities
Issuance of debt	2,994	3,049
Repayment of debt	(1,573)	(100)
Issuance of company common stock		0
Dividends paid	0	0
Other	(2,319)	(1,996)
Net Cash Provided by (Used in) Financing Activities	(898)	953
Net Change in Cash and Cash Equivalents	261	(735)
Cash and cash equivalents at beginning of period	4	770
Cash and Cash Equivalents at End of Period	265	35
ConocoPhillips Canada Funding Company I [Member]
Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	(5)	1
Cash Flows From Investing Activities
Capital expenditures and investments		0
Working capital changes associated with investing activities		0
Proceeds from asset dispositions		0
Net sales (purchases) of short-term investments		0
Long-term advances/loans-related parties		0
Collection of advances/loans-related parties		0
Intercompany cash management		0
Other		0
Net Cash Provided by (Used in) Investing Activities		0
Cash Flows From Financing Activities
Repayment of debt		0
Issuance of company common stock		0
Dividends paid		0
Other		0
Net Cash Provided by (Used in) Financing Activities		0
Net Change in Cash and Cash Equivalents	(5)	1
Cash and cash equivalents at beginning of period	15	7
Cash and Cash Equivalents at End of Period	10	8
All Other Subsidiaries [Member]
Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	2,229	3,623
Cash Flows From Investing Activities
Capital expenditures and investments	(2,532)	(4,773)
Working capital changes associated with investing activities	(287)	(651)
Proceeds from asset dispositions	227	205
Net sales (purchases) of short-term investments	(1,292)	0
Long-term advances/loans-related parties	0	(551)
Collection of advances/loans-related parties	1,626	152
Intercompany cash management	1,063	805
Other	4	(1)
Net Cash Provided by (Used in) Investing Activities	(1,191)	(4,814)
Cash Flows From Financing Activities
Issuance of debt	803	179
Repayment of debt	(827)	(62)
Issuance of company common stock		0
Dividends paid	(1,078)	(24)
Other	318	630
Net Cash Provided by (Used in) Financing Activities	(784)	723
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(15)	(47)
Net Change in Cash and Cash Equivalents	239	(515)
Cash and cash equivalents at beginning of period	2,349	4,285
Cash and Cash Equivalents at End of Period	2,588	3,770
Consolidating Adjustments [Member]
Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	(963)	194
Cash Flows From Investing Activities
Capital expenditures and investments	401	676
Working capital changes associated with investing activities		0
Proceeds from asset dispositions	(2,324)	(2,005)
Net sales (purchases) of short-term investments		0
Long-term advances/loans-related parties	803	730
Collection of advances/loans-related parties	(1,573)	(100)
Intercompany cash management		0
Other		0
Net Cash Provided by (Used in) Investing Activities	(2,693)	(699)
Cash Flows From Financing Activities
Issuance of debt	(803)	(730)
Repayment of debt	1,573	100
Issuance of company common stock	(115)	(218)
Dividends paid	1,078	24
Other	1,923	1,329
Net Cash Provided by (Used in) Financing Activities	$ 3,656	505
Net Change in Cash and Cash Equivalents		$ 0