ConocoPhillips (COP) 10-Q 1 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2018shares
Document and Entity Information [Abstract]
Entity Registrant Name	CONOCOPHILLIPS
Entity Central Index Key	1,163,165
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	1,170,066,208
Trading Symbol	COP

Consolidated Income Statement

Consolidated Income Statement - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues and Other Income
Sales and other operating revenues	$ 8,798	$ 7,518	[1]
Equity in earnings (losses) of affiliates	208	200
Gain on Dispositions	7	22
Other income	(52)	31
Total Revenues and Other Income	8,961	7,771
Costs and Expenses
Purchased commodities	3,714	3,192
Production and operating expenses	1,171	1,291	[2],[3]
Selling, general and administrative expenses	99	97	[2],[3]
Exploration expenses	95	550	[2],[3]
Depreciation, depletion and amortization	1,412	1,979
Impairments	12	175
Taxes other than Income Taxes	183	231
Accretion on discounted liabilities	88	95
Interest and debt expense	184	315
Foreign currency transaction (gains) losses	30	10
Other Expense	197	68	[2],[4]
Total Costs and Expenses	7,185	8,003
Income (Loss) before income taxes	1,776	(232)
Income tax provision (benefit)	876	(831)
Net income (loss)	900	599
Less: net income attributable to noncontrolling interests	(12)	(13)
Net Income (Loss) Attributable to ConocoPhillips	$ 888	$ 586
Earnings Per Share, Basic [Abstract]
Earnings Per Share, Basic	$ 0.75	$ 0.47
Earnings Per Share, Diluted [Abstract]
Earnings Per Share, Diluted	0.75	0.47
Dividends Paid Per Share of Common Stock (dollars)	$ 0.285	$ 0.265
Average Common Shares Outstanding (in thousands)
Basic	1,179,792	1,243,280
Diluted	1,186,454	1,248,722
[1]	*Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606.
[2]	*Certain amounts have been reclassified to conform to the current-period presentation resulting from the adoption of ASU No. 2017-07.
[3]	See Note 2—Changes in Accounting Principles, for additional information.
[4]	See Note 2—Changes in Accounting Principles, for additional information.

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Consolidated Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 900	$ 599
Defined benefit plans
Reclassification adjustment for amortization of prior service cost (credit) included in net income		(10)	(9)
Net actuarial gain (loss) arising during the period		0	(7)
Reclassification adjustment for amortization of net actuarial losses included in net income		24	90
Income taxes on defined benefit plans		(3)	(26)
Defined benefit plans, net of tax		11	48
Foreign currency translation adjustments		78	184
Foreign currency translation adjustments, net of tax		78	184
Other Comprehensive Income (Loss), Net of Tax		89	232
Comprehensive Income (Loss)		989	831
Less: comprehensive income attributable to noncontrolling interests		(12)	(13)
Comprehensive Income (Loss) Attributable to ConocoPhillips	[1]	$ 977	$ 818
[1]	See Notes to Consolidated Financial Statements.

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 4,984	$ 6,325
Short-term investments	288	1,873
Accounts and notes receivable (net of allowance of $3 million in 2018 and $4 million in 2017)	4,032	4,179
Accounts and notes receivable-related parties	160	141
Investment in Cenovus Energy	1,776	1,899
Inventories	1,053	1,060
Prepaid expenses and other current assets	894	1,035
Total Current Assets	13,187	16,512
Investments and long-term receiavables	9,572	9,599
Loans and advances-related parties	399	461
Net properties, plants and equipment (net of accumulated depreciation, depletion and amortization of $66,710 million in 2018 and $64,748 million in 2017)	45,997	45,683
Other assets	1,572	1,107
Total Assets	70,727	73,362
Liabilities
Accounts payable	3,824	4,009
Accounts payable-related parties	62	21
Short-term debt	337	2,575
Accrued income and other taxes	1,341	1,038
Employee benefit obligations	408	725
Other accruals	1,137	1,029
Total Current Liabilities	7,109	9,397
Long-term debt	16,709	17,128
Asset retirement obligations and accrued environmental costs	7,789	7,631
Deferred income taxes	5,409	5,282
Employee benefit obligations	1,832	1,854
Other liabilities and deferred credits	1,161	1,269
Total Liabilities	40,009	42,561
Equity
Common stock (2,500,000,000 shares authorized at $.01 par value) Issued (2018 - 1,787,239,080 shares; 2017 - 1,785,419,175 shares) Par value	18	18
Capital in excess of par	46,642	46,622
Treasury stock (at cost: 2018 - 617,172,872 shares; 2017 - 608,312,034 shares)	(40,406)	(39,906)
Accumulated other comprehensive income (loss)	(5,371)	(5,518)
Retained earnings	29,663	29,391
Total Common Stockholders' Equity	30,546	30,607
Noncontrolling interests	172	194
Total Equity	30,718	30,801
Total Liabilities and Equity	$ 70,727	$ 73,362

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Consolidated Balance Sheet [Abstract]
Allowance for accounts and notes receivable	$ 3	$ 4
Accumulated depreciation, depletion and amortization	$ 66,710	$ 64,748
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	1,787,239,080	1,785,419,175
Treasury stock, shares	617,172,872	608,312,034

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows From Operating Activities
Net income (loss)	$ 900	$ 599
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation, depletion and amortization	1,412	1,979
Impairments	12	175
Dry hole costs and leasehold impairments	20	406
Accretion on discounted liabilities	88	95
Deferred taxes	65	(1,314)
Distributions received greater than equity losses (undistributed equity earnings)	(34)	(43)
Gain on dispositions	(7)	(22)
Other	29	(47)
Working capital adjustments
Decrease (increase) in accounts and notes receivable	139	78
Decrease (increase) in inventories	12	(76)
Decrease (increase) in prepaid expenses and other current assets	(22)	10
Increase (decrease) in accounts payable	(181)	(129)
Increase (decrease) in taxes and other accruals	(34)	79
Net cash provided by operating activities	2,399	1,790
Cash Flows From Investing Activities
Capital expenditures and investments	(1,535)	(966)
Working capital changes associated with investing activities	28	(26)
Proceeds from asset dispositions	169	35
Net sales (purchases) of short-term investments	1,593	(203)
Collection of advances/loans-related parties	59	57
Other	(392)	129
Net Cash Provided by (Used in) Investing Activities	(78)	(974)
Cash Flows From Financing Activities
Issuance of debt	0	0
Repayment of debt	(2,888)	(839)
Issuance of company common stock	(18)	(46)
Repurchase of company common stock	(500)	(112)
Dividends paid	(338)	(331)
Other	(32)	(16)
Net Cash Provided by (Used in) Financing Activities	(3,776)	(1,344)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash	125	27
Net Change in Cash and Cash Equivalents and Restricted Cash Increase (Decrease)	(1,330)	(501)	[1],[2],[3]
Cash and Cash Equivalents and Restricted Cash at beginning of period	6,536	3,610
Cash and Cash Equivalents and Restricted Cash at end of period	5,206	$ 3,109
Restricted Cash	222
Restatement Adjustment [Member]
Restricted Cash	$ 211
[1]	*Restated to include $211 million of restricted cash at January 1, 2018.
[2]	Restricted cash totaling $222 million is included in the "Other assets" line of our Consolidated Balance Sheet as of March 31, 2018.
[3]	See Notes to Consolidated Financial Statements.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
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 2017 Annual Report on Form 10-K.

Change in Accounting Principles

Change in Accounting Principles	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Changes in Accounting Principles [Text Block]	Note 2 — Changes in Accounting Principles We adopted the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Update ( ASU ) No. 2014-09, “Revenue from Contracts with Customers , ” and its amendments issued by the provisions of ASU No. 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , ” ASU No. 2016-10, “Identifying Performance Obligations and Licensing , ” ASU No. 2016-12, “Narrow-Scope Improvements and Practical Expedients , ” and ASU No. 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue From Contracts with Customers , ” collectively Accounting Standards Codification (ASC) Topic 606 , “Revenue from Contracts with Customers,” (ASC Topic 606) beginning January 1, 2018. ASC Topic 60 6 outlines a single comprehensive model for an entity to use in accounting for revenue arising from all contracts with customers except where revenues are in scope of another accounting standard. T he ASU superseded the revenue recognition requirements in ASC Topic 605, “Revenue Recognition , ” and most industry-specific guidance. ASC Topic 606 sets forth a five-step model for determining when and how revenue is recognized. Under the model, an entity is required to recognize revenue to depict the transfer o f goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods and services. ASC Topic 606 also requires certain additional revenue-related disclosures. The adoption of ASC Topic 606 did not have a material impact on our consolidated financial statements. See Note 20 —S ales and Other Operating Revenues for additional information related to this ASC . We adopted the provisions of F ASB AS U No. 2016-01, “Recognition and Measurement of Financial Assets and Liabilities , ” (AS U No. 2016-01 ) beginning January 1, 2018. The ASU, among other things, requires an entit y to record the changes in fair value of equity investments, other than investments accounted for using the equity method, within net i ncome. Under this ASU, an entity is no longer able to recognize unrealized holding gains and losses on available-for-sale securities in other comprehensive income and instead must recognize them in the income statement . See Note 7 — Investment i n Cenovus Energy and Note 16 — Accumulated Other Comprehensive Loss for additional information relating to this ASU. The cumulative effect of the changes made to our consolidated balance sheet at January 1, 2018, for the adoption of ASC Topic 606 and ASU No. 2016-01 were as follows: Millions of Dollars December 31 ASC Topic 606 ASU No. 2016-01 January 1 2017 Adjustments Adjustments 2018 Liabilities Other accruals $ 1,029 104 - 1,133 Total current liabilities 9,397 104 - 9,501 Deferred income taxes 5,282 (31) - 5,251 Other liabilities and deferred credits 1,269 147 - 1,416 Total liabilities 42,561 220 - 42,781 Equity Accumulated other comprehensive loss $ (5,518) - 58 (5,460) Retained earnings 29,391 (220) (58) 29,113 Total common stockholders' equity 30,607 (220) - 30,387 Total equity 30,801 (220) - 30,581 For discussion of adjustments for ASU No. 2016-01 and ASC Topic 606, see Note 7 — Investment in Cenovus Energy and Note 20—Sales and Other Operating Revenues, respectively. We adopted the provisions of FASB ASU No. 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” beginning January 1, 2018. We retrospectively applied the presentation of service cost separate from the other components of net periodic costs. The interest cost, expected return on plan assets, amortization of prior service cost/credit, recognized net actuarial loss/gain, settlement expense, curtailment loss/gain, and special termination benefits have been reclassified from the “ Production and operating expenses,” “Selling, general and administrative expenses,” and “Exploration expenses” lines to the “ Other expense” line on our consolidated income statement. We elected to apply the pract ical expedient which allows us to reclassify amounts disclosed previously in the employee benefit plans footnote as the basis for applying retrospective presentation for prior comparative periods as it is impracticable to determine the disaggregation of th e cost components for amounts capitalized and amortized in those periods. On a prospective basis, the other components of net periodic benefit costs will not be included in amounts capitalized in inventory or properties, plants, and equipment (PP&E). The effect of the retrospective presentation change related to the net periodic benefit cost of our defined benefit pension and other postretirement employee benefits plans on our consolidated income statement was as follows: Millions of Dollars Three Months Ended March 31, 2017 Previously Effect of Change As Reported Higher/(Lower) Revised Production and operating expenses $ 1,298 (7) 1,291 Selling, general and administrative expenses 157 (60) 97 Exploration expenses 551 (1) 550 Other expense - 68 68 We adopted the provisions of FASB ASU No. 2016-15 , “Classification of Certain Cash Receipts and Cash Payments , ” beginning January 1, 2018. This ASU clarifies how certain cash receipts and cash payments should be classified and presented in the statement of cash flows. We have made an accounting policy election to classify distributions received from equity method investees using the nature of the distribution approach which classifies distributions received from investees as either cash inflows from operating activities or cash inflows from investing activities in the statement of cash flows based on the nature of the activ ities of the investee that generated the distribution. The impact of adopting this ASU was not material to prior presented periods. We adopted the provisions of FASB ASU No. 2016-18 , “Restricted Cash , ” beginning January 1, 2018. This ASU requires amount s deemed restricted cash to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows, and presentation should permit a reconciliation when cash, cash equivalent s and restricted cash are presented in more than one line item on the balance sheet. We have amounts deposited in statutory bank accounts in certain countries to satisfy asset retirement obligations (ARO) . These amounts are deemed restricted cash and are included in the “ Other assets ” line of our consolidated balance sheet. This standard is required to be applied retrospectively to all periods presented, but the impact in those periods was not material .

Variable Interest Entities (VIE

Variable Interest Entities (VIEs)	3 Months Ended
	Mar. 31, 2018
Variable Interest Entity[Abstract]
Variable Interest Entity Disclosure [Text Block]	Note 3 — Variable Interest Entities (VIEs) We hold variable interests in VIEs that have not been consolidated because we are not considered the primary beneficiary. Information on our significant VIEs 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 March 31, 2018 , 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 12 —Guarantees, for additional information. Marine Well Con tainment Company, LLC (MWCC) MWCC provides well containment equipment and technology and related services in the deepwater U.S. Gulf of Mexico. Its principal activities involve the development and maintenance of rapid-response hydrocarbon well containment systems that are deployable in the Gulf of Mexico on a call-out basis. We have a 10 percent ownership interest in MWCC, and it is accounted for as an equity method investment because MWCC is a limited liability company in which we are a Founding Member and exercise significant influence through our permanent seat on the ten-member Executive Committee responsible for overseeing the affairs of MWCC. In 2016, MWCC executed a $ 154 million term loan financing arrangement with an external financial institution whose terms required the financing be secured by letters of credit provided by certain owners of MWCC, including ConocoPhillips. In connection with the financing transaction, we issued a letter of credit of $ 22 million which can be drawn upon in the event of a default by MWCC on its obligation to repay the proceeds of the term loan. The fair value of this letter of credit is immaterial and not recognized on our consolidated balance sheet. MWCC is considered a VIE, as it has entered into arrangements that provide it with additional forms of subordinated financial support. We are not the primary beneficiary and do not consolidate MWCC because we share the power to govern the business and operation of the company and to undertake certain obligations that most significantly impact its economic performance with nine other unaffiliated owners of MWCC. At March 31, 2018 , the carrying value of our equity method investment in MWCC was $ 135 million. We have not provided any financial support to MWCC other than amounts previously contractually required. Unless we elect otherwise, we have no requirement to provide liquidity or purchase the assets of MWCC.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventories [Abstract]
Inventories	Note 4—Inventories Inventories consisted of the following: Millions of Dollars March 31 December 31 2018 2017 Crude oil and natural gas $ 503 512 Materials and supplies 550 548 $ 1,053 1,060 Inventories valued on the last-in, first-out (LIFO) basis totaled $ 334 million and $ 341 million at March 31, 2018 and December 31, 2017 , respectively. The estimated excess of current replacement cost over LIFO cost of inventories was approximately $ 13 million and $ 124 million at March 31, 2018 and December 31, 2017 , respectively.

Assets Held for Sale or Sold

Assets Held for Sale or Sold	3 Months Ended
	Mar. 31, 2018
Disposal Group Excluding Discontinued Operation Additional Disclosures [Abstract]
Disposal Groups Exluding Discontinued Operations Disclosure [TextBlock]	Note 5 — Assets Held for Sale, Sold or Acquired Assets Held for Sale As of March 31, 2018 , our interest in the Barnett met the criteria for assets held for sale and had a net carrying value of approximately $ 250 million after recording a before-tax impairment of $ 44 million in the first quarter of 2018 to reduce the carrying value to fair value. We reclassified $ 295 million of PP&E to “Prepaid expenses and other current assets” and $ 48 million of noncurrent liabilities, primarily ARO, to “Other accruals” on our consolidated balance sheet as a result of being held for sale. The before-tax loss associated with our interest in the Barnett, including the impairment noted abo ve was $ 35 million and $ 10 million for the three months ended March 31, 2018 and March 31, 2017 , respectively. Marketing efforts ceased in April 2018, and the assets were reclassified as held for use. The Barn ett results of operations are reported in our Lower 48 segment. In addition to the Barnett, certain other properties with a net carrying value of approximately $ 212 million in our Lower 48 segment met the criteria for assets held for sale as of December 31, 2017. A portion of these properties was sold in the first quarter of 2018, the details of which are discussed in the “Assets Sold” section below. T he remaining held for sale properties had a net carrying value of approx imately $ 104 million, which is reflected in the “Prepaid expenses and other current assets” line on our consolidated balance sheet as of March 31, 2018. In April 2018, these properties were sold for their carrying value. Assets Sold In the first quarter of 2018 , we completed the sale of certain properties in the Lower 48 segment for net proceeds of $ 112 million. No gain or loss was recognized on the sale. Acquisition In the first quarter of 2018 , we entered into an agreement with Anadarko Petroleum Corporation to acquire its nonoperated interest in the Western North Slope of Alaska, as well as its interest in the Alpine pipeline, for $ 400 million, before customary adjustments. In accordance with the agreement, we paid a deposit of $ 383 million which is reflected in the “Other assets” line of our consolidated balance sheet and the “Other” line in the “C ash F lows F rom I nvesting A ctivities ” section of our consolidated statement of cash flows. The transaction is subject to regulatory approval and will be included in our Alaska segment.

Investments, Loans and Long-Ter

Investments, Loans and Long-Term Receivables	3 Months Ended
	Mar. 31, 2018
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. All amounts have been drawn from the facility. APLNG mad e its first principal and interest repayment in March 2017 and will continue to make bi-annual payments until March 2029. At March 31, 2018 , a balance of $ 7.5 billion was outstanding on the facility. See Note 12 — Guarantees, for additional 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 (VIEs), for additional information. At March 31, 2018 , the carrying value of our equity method investment in APLNG was $ 7,707 million. The balance is included in the “Investments and long-term receivables” line on our consolidated balance sheet. Subsequent to March 31, 2018 , distributions from APLNG commenced with the receipt of an initial payment in April 2018. FCCL On May 17, 2017, we completed the sale of our 50 percent nonoperated interest in the Foster Creek Christina Lake (FCCL) Partnership, as well a s the majority of our western Canada gas assets to Cenovus Energy. For additional information on the Canada disposition and our investment in Cenovus Energy, s ee Note 7 — Investment in Cenovus Energy . Loans and Long-Term Receivables As part of our nor mal ongoing business operations, and consistent with industry practice, we enter into numerous agreements with other parties to pursue business opportunities. Included in such activity are loans made to certain affiliated and non-affiliated companies. At March 31, 2018 , significant loans to affiliated companies included $ 522 million in project financing to Qatar Liquefied Gas Company Limited (3) (QG3). On our consolidated balance sheet, the long-term portion of these loans is included in the “Loans and advances—related parties” line, while the short-term portion is in the “Accounts and notes receivable—related parties”

Investment in Cenovus Energy

Investment in Cenovus Energy	3 Months Ended
	Mar. 31, 2018
Investment In Cenovus Energy [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Note 7 -– Investment in Cenovus Energy On May 17, 2017, we completed the sale of our 50 percent nonoperated interest in the FCCL P artnership, as well as the majority of our western Canada gas assets to Cenovus Energy. Con sideration for the transaction included 208 million Cenovus Energy common shares , which approximated 16.9 percent of issued and outstanding Cenovus common stock at closing . At closing, the fair value and cost basis of our investment in 208 million Cenovus Energy common shares was $ 1.96 billion based on a price of $ 9.41 per share on the New York Stock Exchange . We adopted the provisions of ASU No. 2016-01 , beginning January 1, 2018 , using the cumulative-effect approach. Results for reporti ng periods beginning J anuary 1, 2018 , are presented under ASU No. 2016-01 with all changes in the fair value of our equity securities reflected within the “Other i ncome (loss) ” line of our consolidated income statement and within the “Other” line in the “C ash Flows F rom Operating Activities” section of our consolidated statement of cash flows. Prior period amounts are not adjusted under the cumulative-effect method of adopting ASU No. 2016-01. See Note 2 — Change s in Accounting Principles and Note 16 — Accumulated Other Comprehensive Loss for the effect on our consolidated balance sheet and the line items that have been impacted by the adoption of this standard. The cumulative effect of applying the standard was the reclassification of accumulated unrealized holding losses of $ 58 million , recognized in 2017, related to our investment in Cenovus Energy from accumulated other comprehensive loss to retained earnings . Our investment on our consolidated balance sheet as of March 31, 2018 , is carried at fair value of $ 1.78 billion , reflecting the closing price of Cenovus Energy shares on the New York Stock Exchange of $ 8.54 per share , a decrease of $ 12 3 million from $ 1 .90 billion at year-end 2017 . This decrease relates solely to the net unrealized loss recorded in the first quarter of 2018 relating to the shares held at the reporting date . See Note 15 —Fair Value Measurement , for additional information. Subject to market conditions, we inten d to decrease our investment over time through market transactions, private agreements or otherwise .

Suspended Wells and Wells in Pr

Suspended Wells and Wells in Progress	3 Months Ended
	Mar. 31, 2018
Suspended Wells [Abstract]
Suspended Wells	Note 8 —Suspended Wells The capitalized cost of suspended wells at March 31, 2018 , was $ 861 million, an increase of $ 8 million from $ 853 million at year-end 2017 . No suspended wells were charged to dry hole expense during the first three months of 2018 relating to exploratory well costs capitalized for a period greater than one year as of December 3 1, 2017 .

Impairments

Impairments	3 Months Ended
	Mar. 31, 2018
Impairment Of Long Lived Assets [Abstract]
Impairments	Note 9—Impairments During the three-month periods ended March 31, 2018 and 2017, we recognized before-tax impairment charges within the following segments: Millions of Dollars Three Months Ended March 31 2018 2017 Alaska $ - 174 Lower 48 11 - Europe and North Africa 1 1 $ 12 175 The first quarter of 2018 included impairments in our Lower 48 segment of $ 11 million related to developed properties in our Barnett asset which were written down to fair value less costs to sell, partly offset by a revision to reflect finalized proceeds . See Note 5 —Assets Held for Sale, Sold or Acquired, for additional information on our dispositions. The first quarter of 2017 included an impairment in our Alaska segment of $ 174 million for the associated PP&E carrying value of our small interes t in the Point Thomson Unit. The charges discussed below are included in the “Exploration expenses” line on our consolidated income statement and are not reflected in the table above. In the first quarter of 2017, we recorded a before-tax impairment of $ 51 million in our Lower 48 segment for the associated carrying value of capitalized undeveloped leasehold costs of Shenandoah in deepwater Gulf of Mexico following the suspension of appraisal activity by the operator.

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt [Abstract]
Debt	Note 10 —Debt As of March 31, 2018 , our revolving credit facility, expiring in June 2019, was $ 6.75 billion. The revolving credit facility supports two commercial paper programs : 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 March 31, 2018 and December 31, 2017 , we had no direct outstanding borrowings under the revolving credit facility and no letters of credit. We had no commercial paper outstanding at March 31, 2018 or December 31, 2017 , u nder both the ConocoPhillips and the ConocoPhillips Qatar Funding Ltd. commercial paper program s . 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 March 31, 2018 . In the first quarter of 2018 , we redeemed or repurchased a total $ 2,650 m illion of debt as described below : 4.20% Notes due 2021 with remaining principal of $ 1.0 billion. 2.875% Notes due 2021 with principal of $ 750 million. 2.2% Notes due 2020 with principal of $ 500 million. 8.125% Notes due 2030 with principal of $600 million (partial redemption of $ 210 million ) . 7.8% Notes due 2027 with principal of $300 million (partial redemption of $ 97 million ) . 7.9% Notes due 2047 with principal of $100 million (partial redemption of $ 40 million ) . 9.125% Notes due 2021 with principal of $150 million (partial redemption of $ 27 million ) . 8.20% Notes due 2025 with principal of $150 million (partial redemption of $ 16 million ) . 7.65% Notes due 2023 with principal of $88 million (partial redemption of $ 10 million ) . We incurred premiums above book value to redeem or repurchase these debt instruments of $ 206 million. At March 31, 2018 , we had $ 283 million of certain variable rate demand bonds (VRDBs) outstanding with maturities ranging through 2035. The VRDBs are redeemable at the option of the bondholders on any business day. The VRDBs are included in the “Long-term debt” line on our consolidated balance sheet.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interests [Abstract]
Noncontrolling Interests	Note 11—Noncontrolling Interests Activity attributable to common stockholders’ equity and noncontrolling interests for the first three months of 2018 and 2017 was as follows: Millions of Dollars 2018 2017 Common Stockholders’ Equity Non-Controlling Interest Total Equity Common Stockholders’ Equity Non-Controlling Interest Total Equity Balance at January 1 $ 30,607 194 30,801 34,974 252 35,226 Net income 888 12 900 586 13 599 Dividends (338) - (338) (331) - (331) Repurchase of company common stock (500) - (500) (112) - (112) Distributions to noncontrolling interests - (34) (34) - (17) (17) Changes in Accounting Principles* (220) - (220) - - - Other changes, net** 109 - 109 236 - 236 Balance at March 31 $ 30,546 172 30,718 35,353 248 35,601 *See Note 2—Changes in Accounting Principles for additional information related to ASC Topic 606. **Includes components of other comprehensive income, which are disclosed separately in our Consolidated Statement of Comprehensive Income.

Guarantees

Guarantees	3 Months Ended
	Mar. 31, 2018
Guarantees [Abstract]
Guarantees	Note 12 —Guarantees At March 31, 2018 , 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 March 31, 2018 , 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 March 2018 exchange rates: During the third quarter of 2016, we issued a guarantee to facilitate the withdrawal of our pro-rat a portion of the funds in a project finance reserve account. We estimate the remaining term of this guarantee is 11 years . Our maximum exposure under this guarantee is approximately $ 190 million and may become payabl e if an enforcement action is commenced by the project finance lenders against APLNG. At March 31, 2018 , the carrying value of this guarantee was approximately $ 14 million. In conjunction with our original purchase of an ownership interest in APLNG from 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 up to 24 years . Our maximum potential liability for future payments, or cost of volume delivery, under these guarantees is estimated to be $ 940 million ($ 1.68 billion in the event of intentional or reckless breach), and would become payable if APLNG fails to meet its obligations under these agreements and the obligations cannot otherwise be mitigated. Future payments are considered unlikely, as the payments, or cost of volume delivery, would only be triggered if APLNG does not have enough natural gas to meet these sales commitments and if the co-venturers do not make necessary equity contributions into APLNG. We have guaranteed the performance of APLNG with regard to certain other contracts executed in connection with the project’s continued development. The guarantees have remaining terms of up to 28 years or the life of the venture . Our maximum potential amount of future payments related to these guarantees is approximately $ 150 million and would become payable if APLNG does not perform. Other Guarantees We have other guarantees with maximum future potential payment amounts totaling approximately $ 780 million, which consist primarily of g uarantees of the residual value of leased office buildings, guarantees of the residual value of leased corporate aircraft, and a guarantee for our portion of a joint venture’s project finance reserve accounts. These gua rantees have remaining terms of up to five 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 of contractual terms by guaranteed parties. Indemnifications Over the years, we have entered into agreements to sell ownership interests in certain corporations, joint ventures and assets that gave rise to qualifying indemnifications. These agreements include indemnifications for taxes, environmental liabilities, e mployee claims and litigation. The terms of these indemnifications vary greatly. The majority of these indemnifications are related to environmental issues, the term is generally indefinite and the maximum amount of future payments is generally unlimited . The carrying amount recorded for these indemnifications at March 31, 2018 , was approximately $ 100 million. We amortize the indemnification liability over the relevant time period, if one exists, based on the facts and circumstances surro unding each type of indemnity. In cases where the indemnification term is indefinite, we will reverse the liability when we have information the liability is essentially relieved or amortize the liability over an appropriate time period as the fair value of our indemnification exposure declines. Although it is reasonably possible future payments may exceed amounts recorded, due to the nature of the indemnifications, it is not possible to make a reasonable estimate of the maximum potential amount of future payments. Included in the recorded carrying amount at March 31, 2018 , were approximately $ 40 million of environmental accruals for known contamination that are included in the “Asset retirement obligations and accrued environmental costs” li ne on our consolidated balance sheet. For additional information about environmental liabilities, see Note 13 —Contingencies and Commitments. In 2012, we completed the separation of our downstream business, creating two independent energy companies: ConocoPhillips and Phillips 66. On March 1, 2015, a supplier to one of the refineries 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 tri ggering a guarantee we provided at the time of separation. Our maximum potential liability for future payments under this guarantee, which would become payable if Phillips 66 does not perform its contractual obligations under the supply agreement, is appr oximately $ 1.27 billion. At March 31, 2018 , the carrying value of this guarantee is approximately $ 98 million and the remaining term is seven years . Because Phillips 66 has indemnified us for losses incurred under this g uarantee, 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 th e 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	3 Months Ended
	Mar. 31, 2018
Contingencies and Commitments [Abstract]
Contingencies and Commitments	Note 14 —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 and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. We do not reduce these liabilities for potential insurance or third-party recoveries. If applicable, we accrue receivables for probable insurance or other third-party recoveries. With respect to income tax-related contingencies, we use a cumulative probability-weighted loss accrual in cases where sustaining a tax position is less than certain. Based on currently available information, we believe it is remote that future costs rela ted to known contingent liability exposures will exceed current accruals by an amount that would have a material adverse impact on our consolidated financial statements. As we learn new facts concerning contingencies, we reassess our position both with re spect to accrued liabilities and other potential exposures. Estimates particularly sensitive to future changes include contingent liabilities recorded for environmental remediation, tax and legal matters. Estimated future environmental remediation costs are subject to change due to such factors as the uncertain magnitude of cleanup costs, the unknown time and extent of such remedial actions that may be required, and the determination of our liability in proportion to that of other responsible parties. Es timated future costs related to tax and legal matters are subject to change as events evolve and as additional information becomes available during the administrative and litigation processes. Environmental We are subject to international, federal, state and local environmental laws and regulations. When we prepare our consolidated financial statements, we record accruals for environmental liabilities based on management’s best estimates, using all information that is available at the time. We measure estimates and base liabilities on currently available facts, existing technology, and presently enacted laws and regulations, taking into account stakeholder and business considerations. Whe n measuring environmental liabilities, we also consider our prior experience in remediation of contaminated sites, other companies’ cleanup experience, and data released by the U.S. Environmental Protection Agency (EPA) or other organizations. We consider unasserted claims in our determination of environmental liabilities, and we accrue them in the period they are both probable and reasonably estimable. Although liability of those potentially responsible for environmental remediation costs is generally jo int and several for federal sites and frequently so for other sites, we are usually only one of many companies cited at a particular site. Due to the joint and several liabilities, we could be responsible for all cleanup costs related to any site at which we have been designated as a potentially responsible party. We have been successful to date in sharing cleanup costs with other financially sound companies. Many of the sites at which we are potentially responsible are still under investigation by the E PA or the agency concerned. Prior to actual cleanup, those potentially responsible normally assess the site conditions, apportion responsibility and determine the appropriate remediation. In some instances, we may have no liability or may attain a settle ment of liability. Where it appears that other potentially responsible parties may be financially unable to bear their proportional share, we consider this inability in estimating our potential liability, and we adjust our accruals accordingly. As a resu lt of various acquisitions in the past, we assumed certain environmental obligations. Some of these environmental obligations are mitigated by indemnifications made by others for our benefit, and some of the indemnifications are subject to dollar limits an d time limits. We are currently participating in environmental assessments and cleanups at numerous federal Superfund and comparable state and international sites. After an assessment of environmental exposures for cleanup and other costs, we make accrua ls on an undiscounted basis (except those acquired in a purchase business combination, which we record on a discounted basis) for planned investigation and remediation activities for sites where it is probable future costs will be incurred and these costs can be reasonably estimated. At March 31, 2018 , our balance sheet included a total environmental accrual of $ 173 million, compared with $ 180 million at December 31, 2017 , 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 March 31, 2018 , we had performance obligations secured by letters of credit of $ 367 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. On January 17, 2017, the Tribunal reconfirmed the decision that the expropriation was unlawful. A separate arbitration phase is currently proceeding to determine the damages owed to ConocoPhillips for Venezuela’s actions. In 2014, ConocoPhillips commen ced a second arbitration under the rules of the International Chamber of Commerce (ICC) against PDVSA under the contracts that had established the Petrozuata and Hamaca projects (the Corocoro project is part of a separate ICC arbitration proceeding). In t hose proceedings, the ICC Tribunal ruled in April 2018 that PDVSA and two of its subsidiaries owed ConocoPhillips an indemnity of approximately $ 2.04 billion in connection with the expropriation of the projects and other pre-expropriation fiscal measures . Collection efforts are underway. In addition, ConocoPhillips brought fraudulent transfer actions in the U.S. District Court of Delaware, alleging that Venezuela and PDVSA have taken actions to improperly liquidate and expatriate assets from the United States to Venezuela in an effort to avoid judgment creditors. In 2008, Burlington Resources, Inc ., a wholly owned subsidiary of ConocoPhillips, initiated arbitration before ICSID against The Republic of Ecuador , challenging a windfall profits tax and subs equent expropriation of Blocks 7 and 21. On April 24, 2012, Ecuador filed environmental and infrastructure counterclaims against Burlington relating to the alleged impacts to Blocks 7 and 21. Ecuador also filed the environmental and infrastructure counte rclaims relating to Blocks 7 and 21 in a separate, parallel ICSID arbitration brought by Perenco Ecuador Limited, Burlington's co-venturer and consortium operator. Perenco and Burlington each have joint liability for the counterclaims under their joint op erating agreements. On December 14, 2012, the ICSID tribunal issued a decision in favor of Burlington, finding that Ecuador's seizure of Blocks 7 and 21 was an unlawful expropriation in violation of the Ecuador-U.S. Bilateral Investment Treaty. In Februa ry 2017, the ICSID tribunal unanimously awarded Burlington $ 380 million for Ecuador’s unlawful expropriation and breach of the U.S.-Ecuador Bilateral Investment Treaty. The tribunal also issued a separate decision finding Ecuador to be entit led to $ 42 million for environmental and infrastructure impacts to Blocks 7 and 21. In December 2017, Burlington and Ecuador entered into a settlement agreement by which Ecuador agreed to pay Burlington $ 337 million i n two installments. The first installment of $ 75 million was paid on December 1, 2017, and the second installment of $ 262 million was paid on April 13, 2018. The settlement includes an offset for the counterclaims decis ion, of which Burlington is entitled to a $ 24 million contribution from Perenco pursuant to the joint operating agreement. The ICSID arbitration between Perenco and Ecuador remains pending. In December 2016, ConocoPhillips Angola filed a notice of arbitration against Sonangol E.P. under the Block 36 Production Sharing Contract relating to disputes arising thereunder. The arbitration is being conducted under the United Nations Commission on International Trade Laws (UNCITRAL) rules using a three-person tribunal. In June 2017, FAR Ltd. initiated arbitration before the ICC against ConocoPhillips Senegal B.V. in connection with the sale of ConocoPhillips Senegal B.V. to Woodside Energy Holdings (Senegal) Limited in 2016. Th is arbitra tion is ongoing. In 2017 and early 2018, cities and/or counties in California and New York have filed lawsuits against oil and gas companies, including ConocoPhillips, seeking compensatory damages and equitable relief to abate alleged climate change impac ts. ConocoPhillips is vigorously defending against these lawsuits .

Derivative and Financial Instru

Derivative and Financial Instruments	3 Months Ended
	Mar. 31, 2018
Derivative and Financial Instruments [Abstract]
Derivative and Financial Instruments	Note 15 —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 related to contracts that meet and are design ated with the normal purchase normal sale (NPNS) 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 March 31 December 31 2018 2017 Assets Prepaid expenses and other current assets $ 233 275 Other assets 49 36 Liabilities Other accruals 238 282 Other liabilities and deferred credits 41 28 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 March 31 2018 2017 Sales and other operating revenues $ 43 51 Other income (loss) 4 1 Purchased commodities (27) (38) The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts: Open Position Long/(Short) March 31 December 31 2018 2017 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price (12) (29) Basis 2 12 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, and investments in equity securities. We do not elect hedge accounting on our foreign currency exchange 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 March 31 December 31 2018 2017 Assets Prepaid expenses and other current assets $ 1 1 Other assets 7 6 Liabilities Other liabilities and deferred credits 8 15 In December 2017, we entered into foreign exchange zero cost collars buying the right to sell $1.25 billion CAD at $0.707 CAD and selling the right to buy $1.25 billion CAD at $0.842 CAD against the U.S. dollar. 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 March 31 2018 2017 Foreign currency transaction (gains) losses $ (5) 7 We had the following net notional position of outstanding foreign currency exchange derivatives: In Millions Notional Currency March 31 December 31 2018 2017 Foreign Currency Exchange Derivatives Sell U.S. dollar, buy other currencies* USD 94 - Buy British pound, sell other currencies** GBP 33 - Sell British pound, buy other currencies*** GBP - 1 Sell Canadian dollar, buy U.S. dollar CAD 1,186 1,225 *Primarily British pound and Norwegian krone. **Primarily Norwegian krone and euro. ***Primarily euro. Financial Instruments We invest excess cash in financial instruments with maturities based on our cash forecasts for the various currency pools we manage. The maturities of these investments may from time to time extend beyond 90 days. The types of financial instruments that we currently invest include: Time deposits: Interest bearing deposits placed with approved financial institutions. Commercial paper: Unsecured promissory notes issued by a corporation, commercial bank or government agency purchased at a discount to mature at par. These financial instruments appear in the “Cash and cash equivalents” line of our consolidated balance sheet if the maturities at the time we made the investments were 90 days or less; otherwise, these financial instruments are included in the “Short-term investments” line on our consolidated balance sheet . Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments March 31 December 31 March 31 December 31 2018 2017 2018 2017 Cash $ 869 948 Time deposits Remaining maturities from 1 to 90 days 3,873 5,004 170 821 Commercial paper Remaining maturities from 1 to 90 days 242 373 118 978 Remaining maturities from 91 to 180 days - - - 74 $ 4,984 6,325 288 1,873 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, government 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 fo rwards, swaps and options, 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 significan t nonperformance. We also use futures, swaps and option contracts that have a negligible credit risk because these trades are cleared with an exchange clearinghouse and subject to mandatory margin requirements until settled; however, we are exposed to the credit risk of those exchange brokers for 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 natio nal and international 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 counterpar ties. We do not generally require collateral to limit the exposure to loss; however, we will sometimes use letters of credit, prepayments and master netting arrangements to mitigate credit risk with counterparties that both buy from and sell to us, as the se 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 ha ve 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 revert 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 Ex change. The aggregate fair value of all derivative instruments with such credit risk-related contingent features that were in a liability position on March 31, 2018 and December 31, 2017 , was $ 61 million and $ 55 million, respectively. For these instruments , no collateral was posted as of March 31, 2018 or December 31, 2017 . If our credit rating had been downgraded below investment grade on March 31, 2018 , we would be required to pos t $ 61 million of additional collateral, either with cash or letters of credit.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2018
Fair Value Measurement [Abstract]
Fair Value Measurement	Note 15 —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 initially reported as Level 2 are sub sequently reported as Level 3 if corroborated market data is no longer available. Transfers occur at the end of the reporting period. At the end of the fourth quarter of 2017, our investment in Cenovus Energy transferred from Level 2 to Level 1 due to th e lapsing of trading restrictions. There were no other material transfers between levels during 2018 or 2017 . 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 exchange-traded futures and options that are valued using unadjusted prices available from the underlying exchange. This also includes our investment in common shares of Cenovus Energy, which is valued using quotes for shares on the New York Stock 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 value, volatility factors and other relevant economic measures. The use of these inputs results in management’s best estimate of fair value. Level 3 activity was not material for all periods presented. The following table summarizes the fair value hierarchy for gross financial assets and liabilities (i.e., unadjusted where the right of setoff exists for commodity derivatives accounted for at fair value on a recurring basis): Millions of Dollars March 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Investment in Cenovus Energy $ 1,776 - - 1,776 1,899 - - 1,899 Commodity derivatives 142 110 30 282 175 106 30 311 Total assets $ 1,918 110 30 2,058 2,074 106 30 2,210 Liabilities Commodity derivatives $ 151 109 19 279 158 111 41 310 Total liabilities $ 151 109 19 279 158 111 41 310 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 March 31, 2018 Assets $ 282 184 98 - 7 91 Liabilities 279 184 95 9 3 83 December 31, 2017 Assets $ 311 186 125 - 4 121 Liabilities 310 186 124 7 5 112 At March 31, 2018 and December 31, 2017, 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: Millions of Dollars Fair Value Measurements Using Fair Value Level 3 Inputs Before-Tax Loss March 31, 2018 Net PP&E (held for sale) $ 250 250 44 During the first quarter of 2018, net PP&E held for sale was written down to fair value, less costs to sell. The fair value was estimated using information gathered during recent marketing efforts. For additional information, see Note 5 — Assets Held for Sale, Sold 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 related party loans is consistent with Loans and advances—related parties. Investment in Cenovus Energy shares: See Note 8 —Investment in Cenovus Energy, for a discussion of the carrying value and fair value of our investment in C enovus Energy shares. 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 va lue hierarchy. See Note 7 —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 ba lance 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 th e 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 March 31 December 31 March 31 December 31 2018 2017 2018 2017 Financial assets Investment in Cenovus Energy $ 1,776 1,899 1,776 1,899 Commodity derivatives 98 125 98 125 Total loans and advances—related parties 524 586 524 586 Financial liabilities Total debt, excluding capital leases 16,260 18,929 18,908 22,435 Commodity derivatives 86 117 86 117

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Note 16—Accumulated Other Comprehensive Loss Accumulated other comprehensive loss in the equity section of our consolidated balance sheet included: Millions of Dollars Defined Benefit Plans Net Unrealized Loss on Securities Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) December 31, 2017 $ (400) (58) (5,060) (5,518) Cumulative effect of adopting ASU No. 2016-01* - 58 - 58 Other comprehensive income 11 - 78 89 March 31, 2018 $ (389) - (4,982) (5,371) *See Note 2—Changes in Accounting Principles for additional information. 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 March 31 2018 2017 Defined benefit plans $ 11 53 The above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of $3 million and $28 million for the three-month periods ended March 31, 2018 and 2017, respectively. See Note 18—Employee Benefit Plans, for additional information.

Cash Flow Information

Cash Flow Information	3 Months Ended
	Mar. 31, 2018
Cash Flow Information [Abstract]
Cash Flow Information	Note 17 —Cash Flow Information Millions of Dollars Three Months Ended March 31 2018 2017 Cash Payments Interest $ 220 327 Income taxes 521 150 Net Sales (Purchases) of Short-Term Investments Short-term investments purchased $ (206) (243) Short-term investments sold 1,799 40 $ 1,593 (203)

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2018
Employee Benefit Plans [Abstract]
Employee Benefit Plans	Note 18—Employee Benefit Plans Pension and Postretirement Plans Millions of Dollars Pension Benefits Other Benefits 2018 2017 2018 2017 U.S. Int’l. U.S. Int’l. Components of Net Periodic Benefit Cost Three Months Ended March 31 Service cost $ 21 21 23 19 - - Interest cost 27 27 32 26 2 2 Expected return on plan assets (34) (40) (34) (39) - - Amortization of prior service cost (credit) - (1) 1 (1) (9) (9) Recognized net actuarial loss (gain) 15 9 19 12 - (1) Settlements - - 60 - - - Net periodic benefit cost $ 29 16 101 17 (7) (8) The components of net periodic benefit cost, other than the service cost component, are included in the “Other expense” line item on our consolidated income statement. During the first three months of 2018 , we contributed $ 12 million to our domestic benefit plans and $ 63 million to our international benefit plans. In 2018 , we expect to contribute approximately $ 70 million to our domestic qualified and nonqualified pension and postretirement bene fit plans and $ 150 million to our international qualified and nonqualified pension and postretirement benefit plans. Severance Accrual The following table summarizes our severance accrual activity for the three - month period ended March 31, 2018 : Millions of Dollars Balance at December 31, 2017 $ 53 Accruals 8 Benefit payments (22) Foreign currency translation adjustments 1 Balance at March 31, 2018 $ 40 Of the remaining balance at March 31, 2018 , $ 18 million is classified as short term.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 19—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 March 31 2018 2017 Operating revenues and other income $ 23 29 Purchases 24 23 Operating expenses and selling, general and administrative expenses 15 12 Net interest (income) expense* (3) (3) *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.

Sales and Other Operating Reven

Sales and Other Operating Revenues	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Note 20 —Sales and Other Operating Revenues Transitional Arrangements We adopted the provisions of ASC Topic 606 beginning January 1, 2018 , using the modified retrospective approach, which we have applied to contracts within the scope of the standard that had not been completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 , are presented under ASC Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with ASC Topic 605. See N ote 2 —Change s in Accounting Principles for the effect on our consolidated balance sheet and the line items which have been impacted b y the adoption of this standard. The cumulative effect of applying the standard relates solely to certain licensing arrangements where revenue was previously recognized ($ 61 million in 2011, $ 146 million in 2015 and $ 44 million in 2017) based on contractu al milestones. Under ASC Topic 606, such revenues are recognized when the customer has the ability to utilize and benefit from its right to use the license. As a result, such historically recognized revenues must be reversed through a cumulative effect a djustment and deferred until such time when the customer has the ability to utilize and benefit from the license. The cumulative effect adjustment relates to contracts that were not substantially completed at the date of implementation. Accounting Policy Revenues associated with the sales of crude oil, bitumen, natural gas, LNG, natural gas liquids and other items are recognized at the point in time when the customer obtains control of the asset. In evaluating when a customer has control of the asset , we primarily consider whether the transfer of legal title and physical delivery has occurred, whether the customer has significant risks and rewards of ownership, and whether the customer has accepted delivery and a right to payment exists. These products a re typically sol d at prevailing market prices. We allocate variable market-based consideration to deliveries (performance obligations) in the current period as that consideration relates specifically to our efforts to transfer control of current period de liveries to the customer and represents the amount we expect to be entitled to in exchange for the related products. Payment is typically due within 30 days or less. Practical Expedients Typically, our commodity sales contracts are less than 12 months in duration; however, in certain specific cases may extend longer, which may be out to the end of field life. We have long-term commodity sales contracts which use prevailing market prices at the time of delivery , and u nder these contracts, the market-ba sed variable consideration for each performance obligation (i.e. , delivery of commodity) is allocated to each wholly unsatisfied performance obligation within the contract. Accordingly, we have applied the practical expedient allowed in ASC Topic 606 and do not disclose the aggregate amount of the transaction price allocated to performance obligations or when we expect to recognize revenues that are unsatisfied (or partially unsatisfied) as of the end of the reporting period. Revenue from Contracts with Customers The following table provides further disaggregation of our consolidated sales and other operating revenues : Millions of Dollars Three Months Ended March 31 2018 2017 * Revenue from contracts with customers $ 6,545 5,158 Revenue from contracts outside the scope of ASC Topic 606 Physical contracts meeting the definition of a derivative 2,261 2,425 Financial derivative contracts (8) (65) Consolidated sales and other operating revenues $ 8,798 7,518 *Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606. Revenues from contracts outside the scope of ASC Topic 606 relate primarily to physical gas contracts at market prices which qualify as derivatives accounted for under ASC Topic 815, “Derivatives and Hedging, ” and for which we have not elected NPNS . There is no significant difference in contractual terms or the policy for recognition of revenue from these contracts and those within the scope of ASC Topic 606. The following disaggregation of revenues is provided in conjunction with Note 21 — Seg ment Disclosures and Related Information : Millions of Dollars Three Months Ended March 31 2018 2017 * Revenue from Contracts Outside the Scope of ASC Topic 606 by Segment Lower 48 $ 1,713 1,727 Canada 191 279 Europe and North Africa 357 419 Physical contracts meeting the definition of a derivative $ 2,261 2,425 *Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606. Millions of Dollars Three Months Ended March 31 2018 2017 * Revenue from Contracts Outside the Scope of ASC Topic 606 by Product Crude oil $ 286 141 Natural gas 1,890 2,194 Other 85 90 Physical contracts meeting the definition of a derivative $ 2,261 2,425 *Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606. Receivables and Contract Liabilities Receivables from Contracts with Customers At March 31, 2018 , the “ Accounts and n otes receivable ” line on our consolidated balance sheet , includes trade receivables of $ 2,625 million compared with $ 2,675 million at December 31, 2017, and includes both contracts with customers within the scope of ASC Topic 606 and those that are outside the scope of ASC Topic 606. We typically receive payment within 30 days or less (depending on the terms of the invoice) once delivery is made . Revenues that are outside the scope of ASC Topic 606 relate primarily to physical gas sales contracts at market prices for which we do not elect NPNS and are therefore accounted for as a derivative under ASC Topic 815. There is little distincti on in the nature of the customer or credit quality of trade receivables associated with gas sold under contracts for which NPNS has not been elected compared to trade receivables where NP NS has been elected. Contract Liabilities from Contracts with Cus tomers We have entered into contractual arrangements where we license proprietary technology to customers related to the optimization process for operating LNG plants. The agreements typically provide for negotiated payments to be made at stated milestone s. The payments are not directly related to our performance under the contract and are recorded as deferred revenue to be recognized as revenue when the customer can utilize and benefit from their right to use the license. Payments are received in instal l ments over the construction period. Millions of Dollars Contract Liabilities At January 1, 2018 $ 251 At March 31, 2018 $ 251 Amounts Recognized in the Consolidated Balance Sheet at March 31, 2018 Current liabilities $ 153 Noncurrent liabilities 98 $ 251 We expect to recognize such amounts between 2018 and 2019 as construction is complete d. Prior to the adoption of ASC Topic 606, contractual payments received would have been recognized as s ales and o ther o perating r evenues in the current period.

Segment Disclosures and Related

Segment Disclosures and Related Information	3 Months Ended
	Mar. 31, 2018
Segment Disclosures and Related Information [Abstract]
Segment Disclosures and Related Information	Note 21 —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. Corporate and Other represents costs not directly associated with an operati ng segment, such as most interest expense, corporate overhead and certain technology activities, including licensing revenues. Corporate assets include all cash and cash equivalents and short-term investments. We evaluate performance and allocate resou rces based on net income attributable to ConocoPhillips. Intersegment sales are at prices that approximate market. Analysis of Results by Operating Segment Millions of Dollars Three Months Ended March 31 2018 2017 * Sales and Other Operating Revenues Alaska $ 1,385 1,007 Lower 48 3,952 3,230 Intersegment eliminations (3) (3) Lower 48 3,949 3,227 Canada 891 870 Intersegment eliminations (255) (86) Canada 636 784 Europe and North Africa 1,608 1,443 Asia Pacific and Middle East 1,216 1,022 Corporate and Other 4 35 Consolidated sales and other operating revenues $ 8,798 7,518 Sales and Other Operating Revenues by Geographic Location United States $ 5,336 4,240 Australia 440 383 Canada 636 784 China 218 205 Indonesia 215 199 Malaysia 344 237 Norway 663 689 United Kingdom 669 622 Other foreign countries 277 159 Worldwide consolidated $ 8,798 7,518 Sales and Other Operating Revenues by Product Crude oil $ 4,450 3,290 Natural gas 2,796 2,922 Natural gas liquids 231 288 Other** 1,321 1,018 Consolidated sales and other operating revenues by product $ 8,798 7,518 *Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606. **Includes LNG and bitumen. Millions of Dollars Three Months Ended March 31 2018 2017 Net Income Attributable to ConocoPhillips Alaska $ 524 (11) Lower 48 308 (362) Canada (65) 948 Europe and North Africa 245 171 Asia Pacific and Middle East 461 236 Other International (44) (48) Corporate and Other (541) (348) Consolidated net income attributable to ConocoPhillips $ 888 586 Millions of Dollars March 31 December 31 2018 2017 Total Assets Alaska $ 12,610 12,108 Lower 48 14,584 14,632 Canada 6,074 6,214 Europe and North Africa 12,267 11,870 Asia Pacific and Middle East 16,753 16,985 Other International 97 97 Corporate and Other 8,342 11,456 Consolidated total assets $ 70,727 73,362

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Taxes [Abstract]
Income Taxes	Note 22 —Income Taxes Our effective tax rate for the first quarter of 2018 was 49 percent compared with 358 percent for the first quarter of 2017 . Millions of Dollars Percent of Pre-Tax Income (Loss) Three Months Ended Three Months Ended March 31 March 31 2018 2017 2018 2017 Income (loss) before income taxes United States $ 786 (794) 44.3 % 342.2 Foreign 990 562 55.7 (242.2) $ 1,776 (232) 100.0 % 100.0 Federal statutory income tax $ 373 (81) 21.0 % 35.0 Non-U.S. effective tax rates 446 266 25.1 (114.7) Canada disposition - (996) - 429.3 Recovery of outside basis - (835) - 359.9 Adjustment to tax reserves (2) 822 (0.1) (354.3) Adjustment to valuation allowance 57 24 3.2 (10.3) State income tax 19 (13) 1.1 5.6 Enhanced oil recovery credit (20) (16) (1.1) 6.9 Other 3 (2) 0.1 0.8 $ 876 (831) 49.3 % 358.2 The effective tax rate represents a blend of federal, state and foreign taxes and includes the impact of certain nondeductible items and adjustments to our valuation allowance. The effective tax rate for the three months ended March 31, 2018, also reflects the reduced federal corporate income tax rate as a result of the enactment of the Tax Cuts and Jobs Act (the Tax Legislation) in December 2017 and the impact of a change in the mix of our domestic and foreign earnings. Our effective tax rate in t he first quarter of 2017 was impacted by a tax benefit of $ 996 million related to our 2017 disposition of various assets in Canada. This tax benefit was primarily associated with a deferred tax recovery related to the Canadian capital gains exclusion comp onent of the 2017 Canada disposition and the recognition of previously unrealizable Canadian capital asset tax basis. The Canada disposition, along with the associated restructuring of our Canadian operations, may generate an additional tax benefit of $ 82 2 million. However, since we believe it is not likely we will receive a corresponding cash tax savings, this $ 822 million benefit has been offset by a full tax reserve . We have not revised any of our 2017 provisional estimates under Staff Accounting Bull etin 118 and ASU No. 2018-05, but we are continuing to gather information and are waiting for further guidance from the Internal Revenue Service, Securities Exchange Commission and FASB on the Tax Legislation. The Tax Legislation subjects a U.S. sharehold er to tax on Global Intangible Low-Taxed Income (GILTI) earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, “ Accounting for Global Intangible Low-Taxed Income , ” states that an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred as a period expense only. Given the complexity of the GILTI provi sions, we are still evaluating the effects of the GILTI provisions and have not yet determined our accounting policy. At March 31, 2018, the current year U.S. income tax impact related to GILTI activities is immaterial.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2018
New Accounting Standards [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 23 — New Accounting Standards 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, presentati on and disclosure of leasing arrangements by both lessees and 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 optional 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. In January 2018, ASU No. 2016-02 was amended by the provisions of ASU No. 2018-01, “Land Easement Practical Expedient for Transition to Topic 842.” We plan to adopt ASU No. 2016-02, as amended, effective January 1, 2019, and continue to evaluate the ASU to determine the impact of adoption on our consolidated financial statements and disclosures, accounting policies and systems, business processes, and internal controls. We are currently implementing a third-party lease accounting software solution to facilitate the ongoing accounting and financial reporting requirements of the ASU. We also continue to monitor proposals issued by the FASB to clarify the ASU and certa in industry implementation issues. While our evaluation of ASU No. 2016-02 and related implementation activities are ongoing, we expect the adoption of the ASU to have a material impact on our consolidated financial statements and disclosures. 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 instruments based on exp ected 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 retrospectiv e approach, subject to certain limited exceptions. We are currently evaluating the impact of the adoption of this ASU.

Supplementary Information - Con

Supplementary Information - Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2018
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/or ConocoPh illips 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 obligations 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 securiti es. 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 Com pany 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 bas is. In March 2018, ConocoPhillips Company re ceived a $1.2 billion loan repayment from a nonguarantor subsidiary to settle certain accumulated intercompany balances. This 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 March 31, 2018 Income Statement ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Revenues and Other Income Sales and other operating revenues $ - 3,764 - 5,034 - 8,798 Equity in earnings of affiliates 954 1,499 - 251 (2,496) 208 Gain on dispositions - 3 - 4 - 7 Other income (loss) - (103) - 51 - (52) Intercompany revenues 9 56 44 1,204 (1,313) - Total Revenues and Other Income 963 5,219 44 6,544 (3,809) 8,961 Costs and Expenses Purchased commodities - 3,410 - 1,433 (1,129) 3,714 Production and operating expenses - 172 - 1,032 (33) 1,171 Selling, general and administrative expenses 4 74 - 26 (5) 99 Exploration expenses - 53 - 42 - 95 Depreciation, depletion and amortization - 132 - 1,280 - 1,412 Impairments - (9) - 21 - 12 Taxes other than income taxes - 50 - 133 - 183 Accretion on discounted liabilities - 4 - 84 - 88 Interest and debt expense 71 159 37 63 (146) 184 Foreign currency transaction (gains) losses 18 (9) (27) 48 - 30 Other expense - 194 - 3 - 197 Total Costs and Expenses 93 4,230 10 4,165 (1,313) 7,185 Income before income taxes 870 989 34 2,379 (2,496) 1,776 Income tax provision (benefit) (18) 35 (9) 868 - 876 Net income 888 954 43 1,511 (2,496) 900 Less: net income attributable to noncontrolling interests - - - (12) - (12) Net Income Attributable to ConocoPhillips $ 888 954 43 1,499 (2,496) 888 Comprehensive Income (Loss) Attributable to ConocoPhillips $ 977 1,043 (25) 1,582 (2,600) 977 Income Statement Three Months Ended March 31, 2017* Revenues and Other Income Sales and other operating revenues $ - 3,115 - 4,403 - 7,518 Equity in earnings of affiliates 657 1,173 - 160 (1,790) 200 Gain on dispositions - 13 - 9 - 22 Other income - 2 - 29 - 31 Intercompany revenues 17 71 42 794 (924) - Total Revenues and Other Income 674 4,374 42 5,395 (2,714) 7,771 Costs and Expenses Purchased commodities - 2,765 - 1,190 (763) 3,192 Production and operating expenses - 132 - 1,160 (1) 1,291 Selling, general and administrative expenses 4 76 - 22 (5) 97 Exploration expenses - 371 - 179 - 550 Depreciation, depletion and amortization - 251 - 1,728 - 1,979 Impairments - - - 175 - 175 Taxes other than income taxes - 49 - 182 - 231 Accretion on discounted liabilities - 10 - 85 - 95 Interest and debt expense 129 165 37 139 (155) 315 Foreign currency transaction (gains) losses (7) - 49 (32) - 10 Other expense - 70 - (2) - 68 Total Costs and Expenses 126 3,889 86 4,826 (924) 8,003 Income (Loss) before income taxes 548 485 (44) 569 (1,790) (232) Income tax benefit (38) (172) (5) (616) - (831) Net income (loss) 586 657 (39) 1,185 (1,790) 599 Less: net income attributable to noncontrolling interests - - - (13) - (13) Net Income (Loss) Attributable to ConocoPhillips $ 586 657 (39) 1,172 (1,790) 586 Comprehensive Income (Loss) Attributable to ConocoPhillips $ 818 889 (13) 1,362 (2,238) 818 *Certain amounts have been reclassified to conform to the current-period presentation resulting from the adoption of ASU No. 2017-07. See Note 2 — Changes in Accounting Principles, for additional information. See Notes to Consolidated Financial Statements. Millions of Dollars March 31, 2018 Balance Sheet ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Assets Cash and cash equivalents $ - 68 3 4,913 - 4,984 Short-term investments - - - 288 - 288 Accounts and notes receivable 6 1,974 36 4,817 (2,641) 4,192 Investment in Cenovus Energy - 1,776 - - - 1,776 Inventories - 139 - 914 - 1,053 Prepaid expenses and other current assets 1 161 7 752 (27) 894 Total Current Assets 7 4,118 46 11,684 (2,668) 13,187 Investments, loans and long-term receivables* 30,214 48,760 2,504 17,222 (88,729) 9,971 Net properties, plants and equipment - 4,280 - 42,192 (475) 45,997 Other assets 19 1,036 188 1,729 (1,400) 1,572 Total Assets $ 30,240 58,194 2,738 72,827 (93,272) 70,727 Liabilities and Stockholders’ Equity Accounts payable $ - 2,754 2 3,771 (2,641) 3,886 Short-term debt (5) 263 7 82 (10) 337 Accrued income and other taxes - 163 - 1,178 - 1,341 Employee benefit obligations - 310 - 98 - 408 Other accruals 57 420 52 634 (26) 1,137 Total Current Liabilities 52 3,910 61 5,763 (2,677) 7,109 Long-term debt 3,788 8,956 1,701 2,742 (478) 16,709 Asset retirement obligations and accrued environmental costs - 435 - 7,354 - 7,789 Deferred income taxes - - - 6,281 (872) 5,409 Employee benefit obligations - 1,318 - 514 - 1,832 Other liabilities and deferred credits* 2,416 7,467 922 7,407 (17,051) 1,161 Total Liabilities 6,256 22,086 2,684 30,061 (21,078) 40,009 Retained earnings 23,139 13,990 (638) 13,460 (20,288) 29,663 Other common stockholders’ equity 845 22,118 692 29,134 (51,906) 883 Noncontrolling interests - - - 172 - 172 Total Liabilities and Stockholders’ Equity $ 30,240 58,194 2,738 72,827 (93,272) 70,727 *Includes intercompany loans. Balance Sheet December 31, 2017 Assets Cash and cash equivalents $ - 234 4 6,087 - 6,325 Short-term investments - - - 1,873 - 1,873 Accounts and notes receivable 24 2,255 35 4,870 (2,864) 4,320 Investment in Cenovus Energy - 1,899 - - - 1,899 Inventories - 163 - 897 - 1,060 Prepaid expenses and other current assets 1 278 6 779 (29) 1,035 Total Current Assets 25 4,829 45 14,506 (2,893) 16,512 Investments, loans and long-term receivables* 29,400 47,974 2,533 15,050 (84,897) 10,060 Net properties, plants and equipment - 4,230 - 41,930 (477) 45,683 Other assets 15 1,146 186 1,302 (1,542) 1,107 Total Assets $ 29,440 58,179 2,764 72,788 (89,809) 73,362 Liabilities and Stockholders’ Equity Accounts payable $ - 3,094 1 3,799 (2,864) 4,030 Short-term debt (5) 2,505 7 77 (9) 2,575 Accrued income and other taxes - 107 - 931 - 1,038 Employee benefit obligations - 554 - 171 - 725 Other accruals 85 314 48 612 (30) 1,029 Total Current Liabilities 80 6,574 56 5,590 (2,903) 9,397 Long-term debt 3,787 9,321 1,703 2,794 (477) 17,128 Asset retirement obligations and accrued environmental costs - 432 - 7,199 - 7,631 Deferred income taxes - - - 6,263 (981) 5,282 Employee benefit obligations - 1,335 - 519 - 1,854 Other liabilities and deferred credits* 1,528 5,229 926 9,215 (15,629) 1,269 Total Liabilities 5,395 22,891 2,685 31,580 (19,990) 42,561 Retained earnings 22,867 13,317 (681) 11,958 (18,070) 29,391 Other common stockholders’ equity 1,178 21,971 760 29,056 (51,749) 1,216 Noncontrolling interests - - - 194 - 194 Total Liabilities and Stockholders’ Equity $ 29,440 58,179 2,764 72,788 (89,809) 73,362 *Includes intercompany loans. Millions of Dollars Three Months Ended March 31, 2018 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 $ (69) (123) (30) 2,584 37 2,399 Cash Flows From Investing Activities Capital expenditures and investments - (233) - (1,308) 6 (1,535) Working capital changes associated with investing activities - (93) - 121 - 28 Proceeds from asset dispositions - 141 - 39 (11) 169 Purchases of short-term investments - - - 1,593 - 1,593 Long-term advances/loans—related parties - (4) - (29) 33 - Collection of advances/loans—related parties - 1,306 - 59 (1,306) 59 Intercompany cash management 887 1,638 - (2,525) - - Other - - - (392) - (392) Net Cash Provided by (Used in) Investing Activities 887 2,755 - (2,442) (1,278) (78) Cash Flows From Financing Activities Issuance of debt - - 29 4 (33) - Repayment of debt - (2,807) - (1,387) 1,306 (2,888) Issuance of company common stock 19 - - - (37) (18) Repurchase of company common stock (500) - - - - (500) Dividends paid (338) - - - - (338) Other 1 - - (38) 5 (32) Net Cash Provided by (Used in) Financing Activities (818) (2,807) 29 (1,421) 1,241 (3,776) Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash - 9 - 116 - 125 Net Change in Cash, Cash Equivalents and Restricted Cash - (166) (1) (1,163) - (1,330) Cash, cash equivalents and restricted cash at beginning of period* - 234 4 6,298 - 6,536 Cash, Cash Equivalents and Restricted Cash at End of Period $ - 68 3 5,135 - 5,206 Statement of Cash Flows Three Months Ended March 31, 2017 Cash Flows From Operating Activities Net Cash Provided by (Used in) Operating Activities $ (97) 1,014 45 1,581 (753) 1,790 Cash Flows From Investing Activities Capital expenditures and investments - (149) - (819) 2 (966) Working capital changes associated with investing activities - 55 - (81) - (26) Proceeds from asset dispositions - 46 - 18 (29) 35 Purchases of short-term investments - - - (203) - (203) Long-term advances/loans—related parties - (30) - - 30 - Collection of advances/loans—related parties - 63 - 2,138 (2,144) 57 Intercompany cash management 1,341 1,037 - (2,378) - - Other - - - 129 - 129 Net Cash Provided by (Used in) Investing Activities 1,341 1,022 - (1,196) (2,141) (974) Cash Flows From Financing Activities Issuance of debt - - - 30 (30) - Repayment of debt (805) (2,081) - (97) 2,144 (839) Issuance of company common stock 3 - - - (49) (46) Repurchase of company common stock (112) - - - - (112) Dividends paid (331) - - (802) 802 (331) Other 1 - - (44) 27 (16) Net Cash Used in Financing Activities (1,244) (2,081) - (913) 2,894 (1,344) Effect of Exchange Rate Changes on Cash and Cash Equivalents - - - 27 - 27 Net Change in Cash and Cash Equivalents - (45) 45 (501) - (501) Cash and cash equivalents at beginning of period - 358 13 3,239 - 3,610 Cash and Cash Equivalents at End of Period $ - 313 58 2,738 - 3,109 *Restated to include $211 million of restricted cash at January 1, 2018. Restricted cash totaling $222 million is included in the "Other assets" line of our Consolidated Balance Sheet as of March 31, 2018.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2018
Policy Text Block [Abstract]
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 2017 Annual Report on Form 10-K.
New Accounting Pronouncements, Policy	We adopted the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Update ( ASU ) No. 2014-09, “Revenue from Contracts with Customers , ” and its amendments issued by the provisions of ASU No. 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , ” ASU No. 2016-10, “Identifying Performance Obligations and Licensing , ” ASU No. 2016-12, “Narrow-Scope Improvements and Practical Expedients , ” and ASU No. 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue From Contracts with Customers , ” collectively Accounting Standards Codification (ASC) Topic 606 , “Revenue from Contracts with Customers,” (ASC Topic 606) beginning January 1, 2018. ASC Topic 60 6 outlines a single comprehensive model for an entity to use in accounting for revenue arising from all contracts with customers except where revenues are in scope of another accounting standard. T he ASU superseded the revenue recognition requirements in ASC Topic 605, “Revenue Recognition , ” and most industry-specific guidance. ASC Topic 606 sets forth a five-step model for determining when and how revenue is recognized. Under the model, an entity is required to recognize revenue to depict the transfer o f goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods and services. ASC Topic 606 also requires certain additional revenue-related disclosures. The adoption of ASC Topic 606 did not have a material impact on our consolidated financial statements. See Note 20 —S ales and Other Operating Revenues for additional information related to this ASC . We adopted the provisions of F ASB AS U No. 2016-01, “Recognition and Measurement of Financial Assets and Liabilities , ” (AS U No. 2016-01 ) beginning January 1, 2018. The ASU, among other things, requires an entit y to record the changes in fair value of equity investments, other than investments accounted for using the equity method, within net i ncome. Under this ASU, an entity is no longer able to recognize unrealized holding gains and losses on available-for-sale securities in other comprehensive income and instead must recognize them in the income statement . See Note 7 — Investment i n Cenovus Energy and Note 16 — Accumulated Other Comprehensive Loss for additional information relating to this ASU. The cumulative effect of the changes made to our consolidated balance sheet at January 1, 2018, for the adoption of ASC Topic 606 and ASU No. 2016-01 were as follows: Millions of Dollars December 31 ASC Topic 606 ASU No. 2016-01 January 1 2017 Adjustments Adjustments 2018 Liabilities Other accruals $ 1,029 104 - 1,133 Total current liabilities 9,397 104 - 9,501 Deferred income taxes 5,282 (31) - 5,251 Other liabilities and deferred credits 1,269 147 - 1,416 Total liabilities 42,561 220 - 42,781 Equity Accumulated other comprehensive loss $ (5,518) - 58 (5,460) Retained earnings 29,391 (220) (58) 29,113 Total common stockholders' equity 30,607 (220) - 30,387 Total equity 30,801 (220) - 30,581 For discussion of adjustments for ASU No. 2016-01 and ASC Topic 606, see Note 7 — Investment in Cenovus Energy and Note 20—Sales and Other Operating Revenues, respectively. We adopted the provisions of FASB ASU No. 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,” beginning January 1, 2018. We retrospectively applied the presentation of service cost separate from the other components of net periodic costs. The interest cost, expected return on plan assets, amortization of prior service cost/credit, recognized net actuarial loss/gain, settlement expense, curtailment loss/gain, and special termination benefits have been reclassified from the “ Production and operating expenses,” “Selling, general and administrative expenses,” and “Exploration expenses” lines to the “ Other expense” line on our consolidated income statement. We elected to apply the pract ical expedient which allows us to reclassify amounts disclosed previously in the employee benefit plans footnote as the basis for applying retrospective presentation for prior comparative periods as it is impracticable to determine the disaggregation of th e cost components for amounts capitalized and amortized in those periods. On a prospective basis, the other components of net periodic benefit costs will not be included in amounts capitalized in inventory or properties, plants, and equipment (PP&E). The effect of the retrospective presentation change related to the net periodic benefit cost of our defined benefit pension and other postretirement employee benefits plans on our consolidated income statement was as follows: Millions of Dollars Three Months Ended March 31, 2017 Previously Effect of Change As Reported Higher/(Lower) Revised Production and operating expenses $ 1,298 (7) 1,291 Selling, general and administrative expenses 157 (60) 97 Exploration expenses 551 (1) 550 Other expense - 68 68 We adopted the provisions of FASB ASU No. 2016-15 , “Classification of Certain Cash Receipts and Cash Payments , ” beginning January 1, 2018. This ASU clarifies how certain cash receipts and cash payments should be classified and presented in the statement of cash flows. We have made an accounting policy election to classify distributions received from equity method investees using the nature of the distribution approach which classifies distributions received from investees as either cash inflows from operating activities or cash inflows from investing activities in the statement of cash flows based on the nature of the activ ities of the investee that generated the distribution. The impact of adopting this ASU was not material to prior presented periods. We adopted the provisions of FASB ASU No. 2016-18 , “Restricted Cash , ” beginning January 1, 2018. This ASU requires amount s deemed restricted cash to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows, and presentation should permit a reconciliation when cash, cash equivalent s and restricted cash are presented in more than one line item on the balance sheet. We have amounts deposited in statutory bank accounts in certain countries to satisfy asset retirement obligations (ARO) . These amounts are deemed restricted cash and are included in the “ Other assets ” line of our consolidated balance sheet. This standard is required to be applied retrospectively to all periods presented, but the impact in those periods was not material .
Revenue Recognition, Policy	Revenues associated with the sales of crude oil, bitumen, natural gas, LNG, natural gas liquids and other items are recognized at the point in time when the customer obtains control of the asset. In evaluating when a customer has control of the asset , we primarily consider whether the transfer of legal title and physical delivery has occurred, whether the customer has significant risks and rewards of ownership, and whether the customer has accepted delivery and a right to payment exists. These products a re typically sol d at prevailing market prices. We allocate variable market-based consideration to deliveries (performance obligations) in the current period as that consideration relates specifically to our efforts to transfer control of current period de liveries to the customer and represents the amount we expect to be entitled to in exchange for the related products. Payment is typically due within 30 days or less.

Change in Accounting Principl32

Change in Accounting Principles (Tables)	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Millions of Dollars December 31 ASC Topic 606 ASU No. 2016-01 January 1 2017 Adjustments Adjustments 2018 Liabilities Other accruals $ 1,029 104 - 1,133 Total current liabilities 9,397 104 - 9,501 Deferred income taxes 5,282 (31) - 5,251 Other liabilities and deferred credits 1,269 147 - 1,416 Total liabilities 42,561 220 - 42,781 Equity Accumulated other comprehensive loss $ (5,518) - 58 (5,460) Retained earnings 29,391 (220) (58) 29,113 Total common stockholders' equity 30,607 (220) - 30,387 Total equity 30,801 (220) - 30,581 For discussion of adjustments for ASU No. 2016-01 and ASC Topic 606, see Note 7 — Investment in Cenovus Energy and Note 20—Sales and Other Operating Revenues, respectively. Millions of Dollars Three Months Ended March 31, 2017 Previously Effect of Change As Reported Higher/(Lower) Revised Production and operating expenses $ 1,298 (7) 1,291 Selling, general and administrative expenses 157 (60) 97 Exploration expenses 551 (1) 550 Other expense - 68 68

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventories [Abstract]
Inventories	Note 4—Inventories Inventories consisted of the following: Millions of Dollars March 31 December 31 2018 2017 Crude oil and natural gas $ 503 512 Materials and supplies 550 548 $ 1,053 1,060

Impairments (Tables)

Impairments (Tables)	3 Months Ended
	Mar. 31, 2018
Impairment Of Long Lived Assets [Abstract]
Impairment charges by segment before tax.	Note 9—Impairments During the three-month periods ended March 31, 2018 and 2017, we recognized before-tax impairment charges within the following segments: Millions of Dollars Three Months Ended March 31 2018 2017 Alaska $ - 174 Lower 48 11 - Europe and North Africa 1 1 $ 12 175

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interests [Abstract]
Change in equity attributable to non-controlling interests	Note 11—Noncontrolling Interests Activity attributable to common stockholders’ equity and noncontrolling interests for the first three months of 2018 and 2017 was as follows: Millions of Dollars 2018 2017 Common Stockholders’ Equity Non-Controlling Interest Total Equity Common Stockholders’ Equity Non-Controlling Interest Total Equity Balance at January 1 $ 30,607 194 30,801 34,974 252 35,226 Net income 888 12 900 586 13 599 Dividends (338) - (338) (331) - (331) Repurchase of company common stock (500) - (500) (112) - (112) Distributions to noncontrolling interests - (34) (34) - (17) (17) Changes in Accounting Principles* (220) - (220) - - - Other changes, net** 109 - 109 236 - 236 Balance at March 31 $ 30,546 172 30,718 35,353 248 35,601 *See Note 2—Changes in Accounting Principles for additional information related to ASC Topic 606. **Includes components of other comprehensive income, which are disclosed separately in our Consolidated Statement of Comprehensive Income.

Derivative and Financial Inst36

Derivative and Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31 December 31 2018 2017 Assets Prepaid expenses and other current assets $ 233 275 Other assets 49 36 Liabilities Other accruals 238 282 Other liabilities and deferred credits 41 28 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 March 31 December 31 2018 2017 Assets Prepaid expenses and other current assets $ 1 1 Other assets 7 6 Liabilities Other liabilities and deferred credits 8 15 In December 2017, we entered into foreign exchange zero cost collars buying the right to sell $1.25 billion CAD at $0.707 CAD and selling the right to buy $1.25 billion CAD at $0.842 CAD against the U.S. dollar.
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 March 31 2018 2017 Sales and other operating revenues $ 43 51 Other income (loss) 4 1 Purchased commodities (27) (38) 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 March 31 2018 2017 Foreign currency transaction (gains) losses $ (5) 7
Net exposures from outstanding commodity derivative contracts	The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts: Open Position Long/(Short) March 31 December 31 2018 2017 Commodity Natural gas and power (billions of cubic feet equivalent) Fixed price (12) (29) Basis 2 12 We had the following net notional position of outstanding foreign currency exchange derivatives: In Millions Notional Currency March 31 December 31 2018 2017 Foreign Currency Exchange Derivatives Sell U.S. dollar, buy other currencies* USD 94 - Buy British pound, sell other currencies** GBP 33 - Sell British pound, buy other currencies*** GBP - 1 Sell Canadian dollar, buy U.S. dollar CAD 1,186 1,225 *Primarily British pound and Norwegian krone. **Primarily Norwegian krone and euro. ***Primarily euro.
Balances of financial instruments	Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments March 31 December 31 March 31 December 31 2018 2017 2018 2017 Cash $ 869 948 Time deposits Remaining maturities from 1 to 90 days 3,873 5,004 170 821 Commercial paper Remaining maturities from 1 to 90 days 242 373 118 978 Remaining maturities from 91 to 180 days - - - 74 $ 4,984 6,325 288 1,873

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Measurement [Abstract]
Fair value hierarchy for gross financial assets and liabilities	Millions of Dollars March 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Investment in Cenovus Energy $ 1,776 - - 1,776 1,899 - - 1,899 Commodity derivatives 142 110 30 282 175 106 30 311 Total assets $ 1,918 110 30 2,058 2,074 106 30 2,210 Liabilities Commodity derivatives $ 151 109 19 279 158 111 41 310 Total liabilities $ 151 109 19 279 158 111 41 310
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 March 31, 2018 Assets $ 282 184 98 - 7 91 Liabilities 279 184 95 9 3 83 December 31, 2017 Assets $ 311 186 125 - 4 121 Liabilities 310 186 124 7 5 112 At March 31, 2018 and December 31, 2017, we did not present any amounts gross on our consolidated balance sheet where we had the right of setoff.
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: Millions of Dollars Fair Value Measurements Using Fair Value Level 3 Inputs Before-Tax Loss March 31, 2018 Net PP&E (held for sale) $ 250 250 44
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 March 31 December 31 March 31 December 31 2018 2017 2018 2017 Financial assets Investment in Cenovus Energy $ 1,776 1,899 1,776 1,899 Commodity derivatives 98 125 98 125 Total loans and advances—related parties 524 586 524 586 Financial liabilities Total debt, excluding capital leases 16,260 18,929 18,908 22,435 Commodity derivatives 86 117 86 117

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Components of accumulated other comprehensive income in the equity section of the balance sheet	Note 16—Accumulated Other Comprehensive Loss Accumulated other comprehensive loss in the equity section of our consolidated balance sheet included: Millions of Dollars Defined Benefit Plans Net Unrealized Loss on Securities Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) December 31, 2017 $ (400) (58) (5,060) (5,518) Cumulative effect of adopting ASU No. 2016-01* - 58 - 58 Other comprehensive income 11 - 78 89 March 31, 2018 $ (389) - (4,982) (5,371) *See Note 2—Changes in Accounting Principles for additional information.
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 March 31 2018 2017 Defined benefit plans $ 11 53 The above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of $3 million and $28 million for the three-month periods ended March 31, 2018 and 2017, respectively. See Note 18—Employee Benefit Plans, for additional information.

Cash Flow Information (Tables)

Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2018
Cash Flow Information [Abstract]
Cash Flow Information	Note 17 —Cash Flow Information Millions of Dollars Three Months Ended March 31 2018 2017 Cash Payments Interest $ 220 327 Income taxes 521 150 Net Sales (Purchases) of Short-Term Investments Short-term investments purchased $ (206) (243) Short-term investments sold 1,799 40 $ 1,593 (203)

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Employee Benefit Plans [Abstract]
Pension and Postretirement Plans	Note 18—Employee Benefit Plans Pension and Postretirement Plans Millions of Dollars Pension Benefits Other Benefits 2018 2017 2018 2017 U.S. Int’l. U.S. Int’l. Components of Net Periodic Benefit Cost Three Months Ended March 31 Service cost $ 21 21 23 19 - - Interest cost 27 27 32 26 2 2 Expected return on plan assets (34) (40) (34) (39) - - Amortization of prior service cost (credit) - (1) 1 (1) (9) (9) Recognized net actuarial loss (gain) 15 9 19 12 - (1) Settlements - - 60 - - - Net periodic benefit cost $ 29 16 101 17 (7) (8)
Severance accrual	Millions of Dollars Balance at December 31, 2017 $ 53 Accruals 8 Benefit payments (22) Foreign currency translation adjustments 1 Balance at March 31, 2018 $ 40

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Significant transactions with related parties	Note 19—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 March 31 2018 2017 Operating revenues and other income $ 23 29 Purchases 24 23 Operating expenses and selling, general and administrative expenses 15 12 Net interest (income) expense* (3) (3) *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.

Sales and Other Operating Rev42

Sales and Other Operating Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Millions of Dollars Three Months Ended March 31 2018 2017 * Revenue from contracts with customers $ 6,545 5,158 Revenue from contracts outside the scope of ASC Topic 606 Physical contracts meeting the definition of a derivative 2,261 2,425 Financial derivative contracts (8) (65) Consolidated sales and other operating revenues $ 8,798 7,518 *Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606. Millions of Dollars Three Months Ended March 31 2018 2017 * Revenue from Contracts Outside the Scope of ASC Topic 606 by Segment Lower 48 $ 1,713 1,727 Canada 191 279 Europe and North Africa 357 419 Physical contracts meeting the definition of a derivative $ 2,261 2,425 *Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606. Millions of Dollars Three Months Ended March 31 2018 2017 * Revenue from Contracts Outside the Scope of ASC Topic 606 by Product Crude oil $ 286 141 Natural gas 1,890 2,194 Other 85 90 Physical contracts meeting the definition of a derivative $ 2,261 2,425 *Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606.
Contract with Customer, Asset and Liability [Table Text Block]	Millions of Dollars Contract Liabilities At January 1, 2018 $ 251 At March 31, 2018 $ 251 Amounts Recognized in the Consolidated Balance Sheet at March 31, 2018 Current liabilities $ 153 Noncurrent liabilities 98 $ 251

Segment Disclosures and Relat43

Segment Disclosures and Related Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Disclosures and Related Information [Abstract]
Analysis of Results by Operating Segment	Analysis of Results by Operating Segment Millions of Dollars Three Months Ended March 31 2018 2017 * Sales and Other Operating Revenues Alaska $ 1,385 1,007 Lower 48 3,952 3,230 Intersegment eliminations (3) (3) Lower 48 3,949 3,227 Canada 891 870 Intersegment eliminations (255) (86) Canada 636 784 Europe and North Africa 1,608 1,443 Asia Pacific and Middle East 1,216 1,022 Corporate and Other 4 35 Consolidated sales and other operating revenues $ 8,798 7,518 Sales and Other Operating Revenues by Geographic Location United States $ 5,336 4,240 Australia 440 383 Canada 636 784 China 218 205 Indonesia 215 199 Malaysia 344 237 Norway 663 689 United Kingdom 669 622 Other foreign countries 277 159 Worldwide consolidated $ 8,798 7,518 Sales and Other Operating Revenues by Product Crude oil $ 4,450 3,290 Natural gas 2,796 2,922 Natural gas liquids 231 288 Other** 1,321 1,018 Consolidated sales and other operating revenues by product $ 8,798 7,518 *Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606. **Includes LNG and bitumen. Millions of Dollars Three Months Ended March 31 2018 2017 Net Income Attributable to ConocoPhillips Alaska $ 524 (11) Lower 48 308 (362) Canada (65) 948 Europe and North Africa 245 171 Asia Pacific and Middle East 461 236 Other International (44) (48) Corporate and Other (541) (348) Consolidated net income attributable to ConocoPhillips $ 888 586 Millions of Dollars March 31 December 31 2018 2017 Total Assets Alaska $ 12,610 12,108 Lower 48 14,584 14,632 Canada 6,074 6,214 Europe and North Africa 12,267 11,870 Asia Pacific and Middle East 16,753 16,985 Other International 97 97 Corporate and Other 8,342 11,456 Consolidated total assets $ 70,727 73,362

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Taxes [Abstract]
Schedule Of Effective Income Tax Rate Reconciliation [Table Text Block]	Millions of Dollars Percent of Pre-Tax Income (Loss) Three Months Ended Three Months Ended March 31 March 31 2018 2017 2018 2017 Income (loss) before income taxes United States $ 786 (794) 44.3 % 342.2 Foreign 990 562 55.7 (242.2) $ 1,776 (232) 100.0 % 100.0 Federal statutory income tax $ 373 (81) 21.0 % 35.0 Non-U.S. effective tax rates 446 266 25.1 (114.7) Canada disposition - (996) - 429.3 Recovery of outside basis - (835) - 359.9 Adjustment to tax reserves (2) 822 (0.1) (354.3) Adjustment to valuation allowance 57 24 3.2 (10.3) State income tax 19 (13) 1.1 5.6 Enhanced oil recovery credit (20) (16) (1.1) 6.9 Other 3 (2) 0.1 0.8 $ 876 (831) 49.3 % 358.2

Supplementary Information - C45

Supplementary Information - Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2018
Supplementary Information - Condensed Consolidating Financial Information [Abstract]
Condensed Consolidated Income Statement	Millions of Dollars Three Months Ended March 31, 2018 Income Statement ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Revenues and Other Income Sales and other operating revenues $ - 3,764 - 5,034 - 8,798 Equity in earnings of affiliates 954 1,499 - 251 (2,496) 208 Gain on dispositions - 3 - 4 - 7 Other income (loss) - (103) - 51 - (52) Intercompany revenues 9 56 44 1,204 (1,313) - Total Revenues and Other Income 963 5,219 44 6,544 (3,809) 8,961 Costs and Expenses Purchased commodities - 3,410 - 1,433 (1,129) 3,714 Production and operating expenses - 172 - 1,032 (33) 1,171 Selling, general and administrative expenses 4 74 - 26 (5) 99 Exploration expenses - 53 - 42 - 95 Depreciation, depletion and amortization - 132 - 1,280 - 1,412 Impairments - (9) - 21 - 12 Taxes other than income taxes - 50 - 133 - 183 Accretion on discounted liabilities - 4 - 84 - 88 Interest and debt expense 71 159 37 63 (146) 184 Foreign currency transaction (gains) losses 18 (9) (27) 48 - 30 Other expense - 194 - 3 - 197 Total Costs and Expenses 93 4,230 10 4,165 (1,313) 7,185 Income before income taxes 870 989 34 2,379 (2,496) 1,776 Income tax provision (benefit) (18) 35 (9) 868 - 876 Net income 888 954 43 1,511 (2,496) 900 Less: net income attributable to noncontrolling interests - - - (12) - (12) Net Income Attributable to ConocoPhillips $ 888 954 43 1,499 (2,496) 888 Comprehensive Income (Loss) Attributable to ConocoPhillips $ 977 1,043 (25) 1,582 (2,600) 977 Income Statement Three Months Ended March 31, 2017* Revenues and Other Income Sales and other operating revenues $ - 3,115 - 4,403 - 7,518 Equity in earnings of affiliates 657 1,173 - 160 (1,790) 200 Gain on dispositions - 13 - 9 - 22 Other income - 2 - 29 - 31 Intercompany revenues 17 71 42 794 (924) - Total Revenues and Other Income 674 4,374 42 5,395 (2,714) 7,771 Costs and Expenses Purchased commodities - 2,765 - 1,190 (763) 3,192 Production and operating expenses - 132 - 1,160 (1) 1,291 Selling, general and administrative expenses 4 76 - 22 (5) 97 Exploration expenses - 371 - 179 - 550 Depreciation, depletion and amortization - 251 - 1,728 - 1,979 Impairments - - - 175 - 175 Taxes other than income taxes - 49 - 182 - 231 Accretion on discounted liabilities - 10 - 85 - 95 Interest and debt expense 129 165 37 139 (155) 315 Foreign currency transaction (gains) losses (7) - 49 (32) - 10 Other expense - 70 - (2) - 68 Total Costs and Expenses 126 3,889 86 4,826 (924) 8,003 Income (Loss) before income taxes 548 485 (44) 569 (1,790) (232) Income tax benefit (38) (172) (5) (616) - (831) Net income (loss) 586 657 (39) 1,185 (1,790) 599 Less: net income attributable to noncontrolling interests - - - (13) - (13) Net Income (Loss) Attributable to ConocoPhillips $ 586 657 (39) 1,172 (1,790) 586 Comprehensive Income (Loss) Attributable to ConocoPhillips $ 818 889 (13) 1,362 (2,238) 818 *Certain amounts have been reclassified to conform to the current-period presentation resulting from the adoption of ASU No. 2017-07. See Note 2 — Changes in Accounting Principles, for additional information. See Notes to Consolidated Financial Statements.
Schedule of Condensed Balance Sheet	Millions of Dollars March 31, 2018 Balance Sheet ConocoPhillips ConocoPhillips Company ConocoPhillips Canada Funding Company I All Other Subsidiaries Consolidating Adjustments Total Consolidated Assets Cash and cash equivalents $ - 68 3 4,913 - 4,984 Short-term investments - - - 288 - 288 Accounts and notes receivable 6 1,974 36 4,817 (2,641) 4,192 Investment in Cenovus Energy - 1,776 - - - 1,776 Inventories - 139 - 914 - 1,053 Prepaid expenses and other current assets 1 161 7 752 (27) 894 Total Current Assets 7 4,118 46 11,684 (2,668) 13,187 Investments, loans and long-term receivables* 30,214 48,760 2,504 17,222 (88,729) 9,971 Net properties, plants and equipment - 4,280 - 42,192 (475) 45,997 Other assets 19 1,036 188 1,729 (1,400) 1,572 Total Assets $ 30,240 58,194 2,738 72,827 (93,272) 70,727 Liabilities and Stockholders’ Equity Accounts payable $ - 2,754 2 3,771 (2,641) 3,886 Short-term debt (5) 263 7 82 (10) 337 Accrued income and other taxes - 163 - 1,178 - 1,341 Employee benefit obligations - 310 - 98 - 408 Other accruals 57 420 52 634 (26) 1,137 Total Current Liabilities 52 3,910 61 5,763 (2,677) 7,109 Long-term debt 3,788 8,956 1,701 2,742 (478) 16,709 Asset retirement obligations and accrued environmental costs - 435 - 7,354 - 7,789 Deferred income taxes - - - 6,281 (872) 5,409 Employee benefit obligations - 1,318 - 514 - 1,832 Other liabilities and deferred credits* 2,416 7,467 922 7,407 (17,051) 1,161 Total Liabilities 6,256 22,086 2,684 30,061 (21,078) 40,009 Retained earnings 23,139 13,990 (638) 13,460 (20,288) 29,663 Other common stockholders’ equity 845 22,118 692 29,134 (51,906) 883 Noncontrolling interests - - - 172 - 172 Total Liabilities and Stockholders’ Equity $ 30,240 58,194 2,738 72,827 (93,272) 70,727 *Includes intercompany loans. Balance Sheet December 31, 2017 Assets Cash and cash equivalents $ - 234 4 6,087 - 6,325 Short-term investments - - - 1,873 - 1,873 Accounts and notes receivable 24 2,255 35 4,870 (2,864) 4,320 Investment in Cenovus Energy - 1,899 - - - 1,899 Inventories - 163 - 897 - 1,060 Prepaid expenses and other current assets 1 278 6 779 (29) 1,035 Total Current Assets 25 4,829 45 14,506 (2,893) 16,512 Investments, loans and long-term receivables* 29,400 47,974 2,533 15,050 (84,897) 10,060 Net properties, plants and equipment - 4,230 - 41,930 (477) 45,683 Other assets 15 1,146 186 1,302 (1,542) 1,107 Total Assets $ 29,440 58,179 2,764 72,788 (89,809) 73,362 Liabilities and Stockholders’ Equity Accounts payable $ - 3,094 1 3,799 (2,864) 4,030 Short-term debt (5) 2,505 7 77 (9) 2,575 Accrued income and other taxes - 107 - 931 - 1,038 Employee benefit obligations - 554 - 171 - 725 Other accruals 85 314 48 612 (30) 1,029 Total Current Liabilities 80 6,574 56 5,590 (2,903) 9,397 Long-term debt 3,787 9,321 1,703 2,794 (477) 17,128 Asset retirement obligations and accrued environmental costs - 432 - 7,199 - 7,631 Deferred income taxes - - - 6,263 (981) 5,282 Employee benefit obligations - 1,335 - 519 - 1,854 Other liabilities and deferred credits* 1,528 5,229 926 9,215 (15,629) 1,269 Total Liabilities 5,395 22,891 2,685 31,580 (19,990) 42,561 Retained earnings 22,867 13,317 (681) 11,958 (18,070) 29,391 Other common stockholders’ equity 1,178 21,971 760 29,056 (51,749) 1,216 Noncontrolling interests - - - 194 - 194 Total Liabilities and Stockholders’ Equity $ 29,440 58,179 2,764 72,788 (89,809) 73,362 *Includes intercompany loans.
Condensed Consolidated Statement of Cash Flows	Millions of Dollars Three Months Ended March 31, 2018 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 $ (69) (123) (30) 2,584 37 2,399 Cash Flows From Investing Activities Capital expenditures and investments - (233) - (1,308) 6 (1,535) Working capital changes associated with investing activities - (93) - 121 - 28 Proceeds from asset dispositions - 141 - 39 (11) 169 Purchases of short-term investments - - - 1,593 - 1,593 Long-term advances/loans—related parties - (4) - (29) 33 - Collection of advances/loans—related parties - 1,306 - 59 (1,306) 59 Intercompany cash management 887 1,638 - (2,525) - - Other - - - (392) - (392) Net Cash Provided by (Used in) Investing Activities 887 2,755 - (2,442) (1,278) (78) Cash Flows From Financing Activities Issuance of debt - - 29 4 (33) - Repayment of debt - (2,807) - (1,387) 1,306 (2,888) Issuance of company common stock 19 - - - (37) (18) Repurchase of company common stock (500) - - - - (500) Dividends paid (338) - - - - (338) Other 1 - - (38) 5 (32) Net Cash Provided by (Used in) Financing Activities (818) (2,807) 29 (1,421) 1,241 (3,776) Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash - 9 - 116 - 125 Net Change in Cash, Cash Equivalents and Restricted Cash - (166) (1) (1,163) - (1,330) Cash, cash equivalents and restricted cash at beginning of period* - 234 4 6,298 - 6,536 Cash, Cash Equivalents and Restricted Cash at End of Period $ - 68 3 5,135 - 5,206 Statement of Cash Flows Three Months Ended March 31, 2017 Cash Flows From Operating Activities Net Cash Provided by (Used in) Operating Activities $ (97) 1,014 45 1,581 (753) 1,790 Cash Flows From Investing Activities Capital expenditures and investments - (149) - (819) 2 (966) Working capital changes associated with investing activities - 55 - (81) - (26) Proceeds from asset dispositions - 46 - 18 (29) 35 Purchases of short-term investments - - - (203) - (203) Long-term advances/loans—related parties - (30) - - 30 - Collection of advances/loans—related parties - 63 - 2,138 (2,144) 57 Intercompany cash management 1,341 1,037 - (2,378) - - Other - - - 129 - 129 Net Cash Provided by (Used in) Investing Activities 1,341 1,022 - (1,196) (2,141) (974) Cash Flows From Financing Activities Issuance of debt - - - 30 (30) - Repayment of debt (805) (2,081) - (97) 2,144 (839) Issuance of company common stock 3 - - - (49) (46) Repurchase of company common stock (112) - - - - (112) Dividends paid (331) - - (802) 802 (331) Other 1 - - (44) 27 (16) Net Cash Used in Financing Activities (1,244) (2,081) - (913) 2,894 (1,344) Effect of Exchange Rate Changes on Cash and Cash Equivalents - - - 27 - 27 Net Change in Cash and Cash Equivalents - (45) 45 (501) - (501) Cash and cash equivalents at beginning of period - 358 13 3,239 - 3,610 Cash and Cash Equivalents at End of Period $ - 313 58 2,738 - 3,109 *Restated to include $211 million of restricted cash at January 1, 2018. Restricted cash totaling $222 million is included in the "Other assets" line of our Consolidated Balance Sheet as of March 31, 2018.

Change in Accounting Principl46

Change in Accounting Principles (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017		Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Production and Operating Expenses		$ 1,171	$ 1,291	[1],[2]
Selling, General and Administrative Expense		99	97	[1],[2]
Exploration Expense		95	550	[1],[2]
Other Non Operating Expense		197	68	[1],[3]
Liabilities [Abstract]
Other accruals		1,137				$ 1,029
Total Current Liabilities		7,109				9,397
Deferred Tax Liabilities, Noncurrent		5,409				5,282
Deferred Credits and Other Liabilities		1,161				1,269
Total Liabilities		40,009				42,561
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income , Net of Tax		(5,371)				(5,518)
Retained Earnings (Accumulated Deficit)		29,663				29,391
Stockholders' Equity Attributable to Parent		30,546				30,607
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		$ 30,718	35,601			30,801	$ 35,226
Adjustments for New Accounting Pronouncement [Member]
Liabilities [Abstract]
Other accruals					$ 1,133	1,029
Total Current Liabilities					9,501	9,397
Deferred Tax Liabilities, Noncurrent					5,251	5,282
Deferred Credits and Other Liabilities					1,416	1,269
Total Liabilities					42,781	42,561
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income , Net of Tax					(5,460)	(5,518)
Retained Earnings (Accumulated Deficit)					29,113	29,391
Stockholders' Equity Attributable to Parent					30,387	30,607
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest					30,581	$ 30,801
ASU 2014-09 Revenue Recognition [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Liabilities [Abstract]
Other accruals					104
Total Current Liabilities					104
Deferred Tax Liabilities, Noncurrent					(31)
Deferred Credits and Other Liabilities					147
Total Liabilities					220
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income , Net of Tax					0
Retained Earnings (Accumulated Deficit)					(220)
Stockholders' Equity Attributable to Parent					(220)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest					(220)
ASU 2016-01 Accounting for Cenovus Shares [Member] | Effect of Change, Higher (Lower)
Liabilities [Abstract]
Other accruals					0
Total Current Liabilities					0
Deferred Tax Liabilities, Noncurrent					0
Deferred Credits and Other Liabilities					0
Total Liabilities					0
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income , Net of Tax					58
Retained Earnings (Accumulated Deficit)					(58)
Stockholders' Equity Attributable to Parent					0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest					$ 0
ASU 2017-07 Pension Costs [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Production and Operating Expenses	[4]		1,291
Selling, General and Administrative Expense			97
Exploration Expense			550
Other Non Operating Expense			68
ASU 2017-07 Pension Costs [Member] | Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Production and Operating Expenses			1,298
Selling, General and Administrative Expense			157
Exploration Expense			551
Other Non Operating Expense			0
ASU 2017-07 Pension Costs [Member] | Effect of Change, Higher (Lower)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Production and Operating Expenses			(7)
Selling, General and Administrative Expense			(60)
Exploration Expense			(1)
Other Non Operating Expense			$ 68
[1]	*Certain amounts have been reclassified to conform to the current-period presentation resulting from the adoption of ASU No. 2017-07.
[2]	See Note 2—Changes in Accounting Principles, for additional information.
[3]	See Note 2—Changes in Accounting Principles, for additional information.
[4]	For discussion of adjustments for ASU No. 2016-01 and ASC Topic 606, see Note ##NICE—Investment in Cenovus Energy and Note ##NSAOR—Sales and Other Operating Revenues, respectively.

Variable Interest Entities (V47

Variable Interest Entities (VIEs) (Details) - MWCC Llc [Member] - Letter of Credit [Member] - MWCC Llc [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Variable Interest Entity [Line Items]
Ownership percentage in equity investment	10.00%
Term loan backed by a letter of credit	$ 154
Debt at face value - letter of credit	22
Book value of equity method investment	$ 135

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventories [Abstract]
Crude oil and natural gas	$ 503	$ 512
Materials and supplies	550	548
Total Inventories	$ 1,053	$ 1,060

Inventories Textual (Details)

Inventories Textual (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventories [Abstract]
LIFO Inventory Amount	$ 334	$ 341
Excess of Replacement or Current Costs over Stated LIFO Value	$ 13	$ 124

Assets Held for Sale or Sold (D

Assets Held for Sale or Sold (Details) - Lower 48 Segment - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Barnett [Member]
Long Lived Assets Held For Sale [Line Items]
Impairment of AHFS	$ 44
Barnett [Member] | Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Net carrying value	250
Amount of PP&E in carrying value of assets	295
Pretax operating Income (Loss) on AHFS	(35)	$ (10)
Barnett [Member] | Operating Segments [Member] | Asset Retirement Obligation Costs [Member]
Long Lived Assets Held For Sale [Line Items]
Liabilities of AHFS	48
Certain other properties held for sale [Member] | Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Net carrying value	104		$ 212
Amount of PP&E in carrying value of assets	0
Certain other properties held for sale [Member] | Operating Segments [Member] | Asset Retirement Obligation Costs [Member]
Long Lived Assets Held For Sale [Line Items]
Liabilities of AHFS	0
Certain other properties sold [Member] | Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Proceeds from asset dispositions	112
Gain (Loss) on Sale of Oil and Gas Property	$ 0

Acquisition (Details)

Acquisition (Details) - Interest In WNS Assets and Alpine Pipeline [Member] - Alaska Segment [Member] - Operating Segments [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Business Acquisition [Line Items]
Costs Incurred, Acquisition of Oil and Gas Properties	$ 400
Deposit Assets	$ 383

Investments, Loans and Long-T52

Investments, Loans and Long-Term Receivables (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Oct. 31, 2016
Equity method investments
Loan balance with affiliated company	$ 524	$ 586
APLNG [Member]
Equity method investments
Project finance facility, maximum borrowing capacity	$ 8,500
Line of Credit Facility, Frequency of Payments	bi-annual
Line of Credit Facility, Expiration Date	Mar. 31, 2029
Line Of Credit Facility Value Outstanding	$ 7,500
Book value of equity method investment	7,707
Percent decrease in guarantee			0.00%
Loan balance with affiliated company	7,500
APLNG [Member] | Export-Import Bank of the US [Member]
Equity method investments
Project finance facility, maximum borrowing capacity	2,900
APLNG [Member] | Export-Import Bank of China [Member]
Equity method investments
Project finance facility, maximum borrowing capacity	2,700
APLNG [Member] | Australian and International Commercial Bank Syndicate [Member]
Equity method investments
Project finance facility, maximum borrowing capacity	2,900
QG3 [Member]
Equity method investments
Loan balance with affiliated company	$ 522

Investment in Cenovus Energy (D

Investment in Cenovus Energy (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	5 Months Ended
	Mar. 31, 2018	May 17, 2017	Jan. 01, 2018	Dec. 31, 2017
Schedule Of Available For Sale Securities [Line Items]
Accumulated Other Comprehensive Income , Net of Tax	$ (5,371)			$ (5,518)
Adjustments for New Accounting Pronouncement [Member]
Schedule Of Available For Sale Securities [Line Items]
Accumulated Other Comprehensive Income , Net of Tax			$ (5,460)	(5,518)
Foster Creek Christina Lake (FCCL) [Member]
Schedule Of Available For Sale Securities [Line Items]
Equity Method Investment, Ownership Percentage		50.00%
Cenovus Energy [Member] | ASU 2016-01 Accounting for Cenovus Shares [Member]
Schedule Of Available For Sale Securities [Line Items]
Accumulated Other Comprehensive Income , Net of Tax			$ (58)
Common Stock [Member] | Cenovus Energy [Member]
Schedule Of Available For Sale Securities [Line Items]
Shares Exchange for Assets Held for Sale		208
Investment Owned, Common Stock, percent of Issued and Outstanding		16.90%
Investment in Equity Securities		$ 1,960
Investment In Equity Security Fair Value	$ 1,780			$ 1,900
Investment Owned, Common Stock, price per share	$ 8.54	$ 9.41
Unrealized Gain (Loss) on Securities	$ (123)

Suspended Wells and Wells in 54

Suspended Wells and Wells in Progress (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Suspended Wells [Abstract]
Capitalized cost of suspended wells	$ 861	$ 853
Increase (decrease) in capitalized cost of suspended wells	$ 8
Number of wells charged to dry hole expense	No

Impairments (Details)

Impairments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	$ 12	$ 175
Operating Segments [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	12	175
Alaska Segment [Member] | Operating Segments [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	0	174
Lower Forty Eight [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	11
Europe and North Africa Segment [Member] | Operating Segments [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	$ 1	$ 1

Impairments Narrative (Details)

Impairments Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	$ 12	$ 175
Exploration Expense	95	550	[1],[2]
Operating Segments [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	12	175
Alaska Segment [Member] | Operating Segments [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	$ 11
Alaska Segment [Member] | Operating Segments [Member] | Point Thomson [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges		174
Lower Forty Eight Segment [Member] | Operating Segments [Member] | GOM | Shenandoah [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense		$ 51
[1]	*Certain amounts have been reclassified to conform to the current-period presentation resulting from the adoption of ASU No. 2017-07.
[2]	See Note 2—Changes in Accounting Principles, for additional information.

Debt Narrative (Details)

Debt Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Short Term Debt [Line Items]
Commercial Paper Program, Amount Outstanding	$ 367
Debt Instrument - Long Term [Line Items]
Repayments of Debt	2,888	$ 839
Revolving Credit Facility [Member]
Short Term Debt [Line Items]
Maximum borrowing capactiy under revolving credit facility	6,750
Remaining borrowing capacity under revolving credit facility	$ 6,750
Commercial Paper [Member]
Short Term Debt [Line Items]
Maturity period of commercial paper (in days)	90
Unsecured Debt [Member]
Debt Instrument - Long Term [Line Items]
Premiums paid above book value to redeem debt	$ 206
Unsecured Debt [Member] | 9.125% Debentures [Member] | Due 2021 [Member]
Debt Instrument - Long Term [Line Items]
Repayments of Debt	27
Unsecured Debt [Member] | 2.2% Notes [Member] | Due 2020 [Member]
Debt Instrument - Long Term [Line Items]
Repayments of Debt	500
Unsecured Debt [Member] | 4.2% Notes [Member] | Due 2021 [Member]
Debt Instrument - Long Term [Line Items]
Repayments of Debt	1,000
Unsecured Debt [Member] | 2.875% Notes [Member] | Due 2021 [Member]
Debt Instrument - Long Term [Line Items]
Repayments of Debt	750
Unsecured Debt [Member] | 8.20% Debentures [Member] | Due 2025 [Member]
Debt Instrument - Long Term [Line Items]
Repayments of Debt	16
Unsecured Debt [Member] | 8.125% Notes [Member] | Due 2030 [Member]
Debt Instrument - Long Term [Line Items]
Repayments of Debt	210
Unsecured Debt [Member] | 7.9% Debentures [Member] | Due 2047 [Member]
Debt Instrument - Long Term [Line Items]
Repayments of Debt	40
Unsecured Debt [Member] | 7.65% Debentures [Member] | Due 2023 [Member]
Debt Instrument - Long Term [Line Items]
Repayments of Debt	10
Unsecured Debt [Member] | 7.8% Debentures [Member] | Due 2027 [Member]
Debt Instrument - Long Term [Line Items]
Repayments of Debt	97
VRDB [Member]
Debt Instrument - Long Term [Line Items]
Debt Instrument Face Amount	283
ConocoPhillips Commercial Paper Program [Member] | Commercial Paper [Member] | Maximum [Member]
Short Term Debt [Line Items]
Commercial Paper Program, Capacity	6,250
ConocoPhillips Qatar Funding Ltd [Member] | Commercial Paper [Member] | Maximum [Member]
Short Term Debt [Line Items]
Commercial Paper Program, Capacity	$ 500

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018		Mar. 31, 2017
Activity for equity attributable to noncontrolling interests
Beginning Balance	$ 30,801		$ 35,226
Net income (loss)	900		599
Dividends paid	(338)		(331)
Repurchase of company common stock	(500)		(112)
Distributions to noncontrolling interests	(34)		(17)
Other	109	[1]	236
Ending Balance	30,718		35,601
Adjustments for New Accounting Pronouncement [Member]
Activity for equity attributable to noncontrolling interests
Beginning Balance	30,801
Accounting Standards Update 2014-09 [Member] | Restatement Adjustment [Member]
Activity for equity attributable to noncontrolling interests
Change in Accounting Principle	(220)	[2]	0
Common Stockholders' Equity [Member]
Activity for equity attributable to noncontrolling interests
Beginning Balance	30,607		34,974
Net income (loss)	888		586
Dividends paid	(338)		(331)
Repurchase of company common stock	(500)		(112)
Distributions to noncontrolling interests	0		0
Other	109	[1]	236
Ending Balance	30,546		35,353
Common Stockholders' Equity [Member] | Accounting Standards Update 2014-09 [Member] | Restatement Adjustment [Member]
Activity for equity attributable to noncontrolling interests
Change in Accounting Principle	(220)	[2]	236
Noncontrolling Interest [Member]
Activity for equity attributable to noncontrolling interests
Beginning Balance	194		252
Net income (loss)	12		13
Dividends paid	0		0
Repurchase of company common stock	0		0
Distributions to noncontrolling interests	(34)		(17)
Other	0	[1]	0
Ending Balance	172		248
Noncontrolling Interest [Member] | Accounting Standards Update 2014-09 [Member] | Restatement Adjustment [Member]
Activity for equity attributable to noncontrolling interests
Change in Accounting Principle	$ 0	[2]	$ 0
[1]	**Includes components of other comprehensive income, which are disclosed separately in our Consolidated Statement of Comprehensive Income.
[2]	*See Note 2—Changes in Accounting Principles for additional information related to ASC Topic 606.

Guarantees (Details)

Guarantees (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Ownership percentage in equity investment	37.50%
Continued development [Member] | Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 150
Terms of guarantees outstanding	up to 28 years or the life of the venture
Other Guarantees [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 780
Terms of guarantees outstanding	up to five years
Indemnifications [Member]
Guarantor Obligations [Line Items]
Environmental accruals for known contamination in carrying amount recorded for indemnifications	$ 40
Guarantor Obligations, Current Carrying Value	100
Indemnifications [Member] | Refinery Supplier [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 1,270
Terms of guarantees outstanding	seven years
Guarantor Obligations, Current Carrying Value	$ 98
Carrying value of indemnification asset from other party	98
Guarantee existing sales agreement of natural gas delivery | Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 940
Terms of guarantees outstanding	up to 24 years
Max potential future payments-reckless breach [Member] | Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 1,680
Finance Reserve Guarantee [Member] | Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 190
Terms of guarantees outstanding	11 years
Carrying value of indemnification asset from other party	$ 14

Contingencies and Commitments (

Contingencies and Commitments (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Apr. 30, 2018	Feb. 28, 2017	Mar. 31, 2018	Apr. 13, 2018	Dec. 31, 2017	Dec. 01, 2017
Loss Contingencies [Line Items]
Letters of Credit Outstanding, Amount			$ 367
Cleanup Remediation Activities [Member]
Loss Contingencies [Line Items]
Total environmental accrual included in balance sheet			$ 173		$ 180
Loss Contingency, Settlement Agreement, Terms			P30Y
Conoco Phillips Vs Petroleos de Venezuela SA [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded from Other Party	$ 2,040
ECUADOR | Burlington Resources Inc Vs The Republic Of Ecuador [Member] | Burlington Resources, Inc [Member]
Loss Contingencies [Line Items]
Litigation Settlement Amount Awarded To Other Party		$ 380
Litigation Settlement, Amount Awarded from Other Party		42
Settlement Amount Awarded To Other Party Through Third Party					$ 337
Settlement Amount Received By Other Party				$ 262		$ 75
Offset For Counter Claim		$ 24

Derivative and Financial Inst61

Derivative and Financial Instruments - Commodity Balance Sheet (Details) - Commodity Contract [Member] - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	$ 233	$ 275
Other assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	49	36
Other accruals [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	238	282
Other liabilities and deferred credits [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	$ 41	$ 28

Derivative and Financial Inst62

Derivative and Financial Instruments - Commodity GainLoss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Sales and other operating revenues [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ 43	$ 51
Sales and other operating revenues [Member] | Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	43	51
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	4	1
Other Income [Member] | Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	4	1
Purchased commodities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	(27)	(38)
Purchased commodities [Member] | Commodity Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ (27)	$ (38)

Derivative and Financial Inst63

Derivative and Financial Instruments - Commodity Notional (Details) - Commodity Contract [Member] - USD ($) $ in Millions	Mar. 31, 2018	Dec. 01, 2017
Natural gas and power, Fixed price [Member] | Short [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	12	29
Natural gas and power, Basis [Member] | Long [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	2	12

Derivative and Financial Inst64

Derivative and Financial Instruments - FX Balance Sheet (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Description of Foreign Currency Derivative Instruments Not Designated as Hedging Instruments Activities	In December 2017, we entered into foreign exchange zero cost collars buying the right to sell $1.25 billion CAD at $0.707 CAD and selling the right to buy $1.25 billion CAD at $0.842 CAD against the U.S. dollar.
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative assets	$ 1	$ 1
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative assets	7	6
Other liabilities and deferred credits [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative liabilities	$ 8	$ 15

Derivative and Financial Inst65

Derivative and Financial Instruments - FX GainLoss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Foreign currency transaction gains (losses) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency transaction (gains) losses	$ (5)	$ 7

Derivative and Financial Inst66

Derivative and Financial Instruments - FX Notional (Details) - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
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],[3]	$ 94	$ 0
Buy British pound, sell other currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives		33	0
Sell British pound, buy other currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives		0	1
Sell Canadian dollar, buy U.S. dollar [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives		$ 1,186	$ 1,225
[1]	***Primarily euro.
[2]	**Primarily Norwegian krone and euro.
[3]	*Primarily British pound and Norwegian krone.

Derivative and Financial Inst67

Derivative and Financial Instruments - Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	$ 4,984	$ 6,325
Short-term Investments	288	1,873
Cash [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	869	948
Time Deposits [Member] | Remaining maturities from 1 to 90 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	3,873	5,004
Short-term Investments	170	821
Commercial Paper [Member] | Remaining maturities from 1 to 90 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	242	373
Short-term Investments	118	978
Commercial Paper [Member] | Remaining maturities from 91 to 180 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	0	0
Short-term Investments	$ 0	$ 74

Derivative and Financial Inst68

Derivative and Financial Instruments (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Aggregate fair value of all derivative instruments in a liability position	$ 61	$ 55
Collateral was posted for derivative instruments in a liability position	0	$ 0
In event of lowered credit rating [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Additional collateral, either in the form of cash or letters of credit	$ 61
Financial instruments [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Terms of financial instruments and trade receivables	90 days
Credit Derivative, Recourse Provisions	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 revert 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.
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 Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative asset, gross	$ 282,000	$ 311,000
Fair Value, Assets, Level 2 to Level 1 Transfers, Description	At the end of the fourth quarter of 2017, our investment in Cenovus Energy transferred from Level 2 to Level 1 due to the lapsing of trading restrictions.
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Equity Securities	$ 1,776,000	1,899,000
Commodity derivative asset, gross	282,000	311,000
Total assets	2,058,000	2,210,000
Commodity derivative liability, gross	279,000	310,000
Total liabilities	279,000	310,000
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Equity Securities	1,776,000	1,899,000
Commodity derivative asset, gross	142,000	175,000
Total assets	1,918,000	2,074,000
Commodity derivative liability, gross	151,000	158,000
Total liabilities	151,000	158,000
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity derivative asset, gross	110,000	106,000
Total assets	110,000	106,000
Commodity derivative liability, gross	109,000	111,000
Total liabilities	109,000	111,000
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Equity Securities	0
Commodity derivative asset, gross	30,000	30,000
Total assets	30,000	30,000
Commodity derivative liability, gross	19,000	41,000
Total liabilities	$ 19,000	$ 41,000

Fair Value Measurement - FV of

Fair Value Measurement - FV of Commodity Derivatives (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Offsetting Derivative Assets [Abstract]
Assets - gross amounts recognized	$ 282,000	$ 311,000
Assets - gross amounts offset	184,000	186,000
Assets - cash collateral	0	0
Assets - amounts without right of setoff	7,000	4,000
Assets - net amounts	91,000	121,000
Offsetting Derivative Liabilities [Abstract]
Liabilities - gross amounts recognized	279,000	310,000
Liabilities - gross amounts offset	184,000	186,000
Liabilities - net amounts presented	95,000	124,000
Liabilities - cash collateral	9,000	7,000
Liabilities - amounts without right of setoff	3,000	5,000
Liabilities - net amounts	$ 83,000	$ 112,000

Fair Value Measurement - Nonrec

Fair Value Measurement - Nonrecurring (Details) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2018	Jun. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value - Net PP&E (held for sale)	$ 250	$ 250
Before Tax Loss Net PPE (held for sale)	44	$ 44
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 sale)	$ 250

Fair Value Measurement - FV o72

Fair Value Measurement - FV of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Carrying Amount [Member]
Financial Assets [Abstract]
Investment in Cenovus Energy	$ 1,776	$ 1,899
Total loans and advances - related parties	524	586
Financial Liabilities [Abstract]
Total debt, excluding capital leases	16,260	18,929
Carrying Amount [Member] | Commodity Contract [Member]
Financial Assets [Abstract]
Commodity derivatives, assets	98	125
Financial Liabilities [Abstract]
Commodity derivatives, liability	86	117
Investment in Cenovus Energy	1,776	1,899
Total loans and advances - related parties	524	586
Total debt, excluding capital leases	18,908	22,435
Commodity derivatives, liability	83	112
Commodity Contract [Member]
Financial Assets [Abstract]
Commodity derivatives, assets	98	125
Financial Liabilities [Abstract]
Commodity derivatives, liability	$ 86	$ 117

Accumulated Other Comprehensi73

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plans, Beginning Balance		$ (400)
Defined Benefit Plans		(11)	$ (48)
Defined Benefit Plans, Ending Balance		(389)
Investment in Equity Securities, Begninng Balance		(58)
Unrealized holding gain (loss) on securities	[1]	58
Investment in Equity Securities, Ending Balance		0
Foreign Currency Translation, Beginning Balance		(5,060)
Foreign Currency Translation		78	184
Foreign Currency Translation, Ending Balance		(4,982)
Accumulated Other Comprehensive Income, Beginning Balance		(5,518)
Other Comprehensive Income (Loss), Net of Tax		89	$ 232
Accumulated Other Comprehensive Income, Ending Balance		(5,371)
Adjustments for New Accounting Pronouncement [Member]
Accumulated Other Comprehensive Income, Beginning Balance		(5,518)
ASU 2016-01 Accounting for Cenovus Shares [Member] | Restatement Adjustment [Member]
Cumulative effect of adopting ASU No. 2016-01	[2]	$ 58
[1]	*See Note 2—Changes in Accounting Principles for additional information.
[2]	See Note 2—Changes in Accounting Principles, for additional information.

Accumulated Other Comprehensi74

Accumulated Other Comprehensive Income (Loss) - Reclassifications (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Defined Benefit Plans	[1]	$ 11	$ 53
Tax expense of defined benefit plans		$ 3	$ 28
[1]	The above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of $3 million and$28 million for the three-month periods ended March 31, 2018 and 2017, respectively. See Note ##NEBPQ1—Employee Benefit Plans, for additional

Cash Flow Information (Details)

Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Interest	$ 220	$ 327
Income taxes	521	150
Net Purchases of Short-Term Investments
Short-term investments purchased	(206)	(243)
Short-term investments sold	1,799	40
Net sales (purchases) of short-term investments	$ 1,593	$ (203)

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Plans Defined Benefit [Member] | U.S.
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 21	$ 23
Interest cost	27	32
Expected return on plan assets	(34)	(34)
Amortization of prior service cost (credit)	0	1
Recognized net actuarial (gain) loss	15	19
Settlements	0	60
Net periodic benefit cost	29	101
Pension Plans Defined Benefit [Member] | Foreign Pension Plans, Defined Benefit [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	21	19
Interest cost	27	26
Expected return on plan assets	(40)	(39)
Amortization of prior service cost (credit)	(1)	(1)
Recognized net actuarial (gain) loss	9	12
Settlements	0	0
Net periodic benefit cost	16	17
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	0	0
Interest cost	2	2
Expected return on plan assets	0	0
Amortization of prior service cost (credit)	(9)	(9)
Recognized net actuarial (gain) loss	0	(1)
Settlements	0	0
Net periodic benefit cost	$ (7)	$ (8)

Employee Benefit Plans - Textua

Employee Benefit Plans - Textual (Detailsl) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
U.S.
Employee Benefit Plans (Textual) [Abstract]
Company contributions	$ 12
Expected company contributions	70
Int'l (Pension Benefits) [Member]
Employee Benefit Plans (Textual) [Abstract]
Company contributions	63
Expected company contributions	$ 150

Employee Benefit Plans - Severa

Employee Benefit Plans - Severances (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Restructuring Cost and Reserve [Line Items]
Balance at December 31, 2017	$ 53
Increase (Decrease) in Restructuring Reserve	8
Payments for Restructuring	22
Restructuring Reserve, Foreign Currency Translation Gain (Loss)	1
Balance at March 31, 2018	40
Employee Severance [Member] | Short term supplemental unemployment benefits [Member]
Restructuring Cost and Reserve [Line Items]
Balance at March 31, 2018	$ 18

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Significant transactions with related parties
Related Party Purchases		$ 24	$ 23
Operating expenses and selling, general and administrative expenses		15	12
Net interest (income) expense	[1]	$ (3)	$ (3)
[1]	*We paid interest to, or received interest from, various affiliates. See Note ##NILR—Investments, Loans and Long-Term Receivables, for additionalinformation on loans to affiliated companies.

Sales and Other Operating Rev80

Sales and Other Operating Revenue - Transitional Arrangements (Details) - Accounting Standards Update 2014-09 [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2015	Dec. 31, 2011
Contract with Customer, Timing of Satisfaction of Performance Obligation and Payment	We have entered into contractual arrangements where we license proprietary technology to customers related to the optimization process for operating LNG plants. The agreements typically provide for negotiated payments to be made at stated milestones. The payments are not directly related to our performance under the contract and are recorded as deferred revenue to be recognized as revenue when the customer can utilize and benefit from their right to use the license. Payments are received in installments over the construction period.
Revenue, Initial Application Period Cumulative Effect Transition, Description	The cumulative effect of applying the standard relates solely to certain licensing arrangements where revenue was previously recognized ($61 million in 2011, $146 million in 2015 and $44 million in 2017) based on contractual milestones. Under ASC Topic 606, such revenues are recognized when the customer has the ability to utilize and benefit from its right to use the license. As a result, such historically recognized revenues must be reversed through a cumulative effect adjustment and deferred until such time when the customer has the ability to utilize and benefit from the license. The cumulative effect adjustment relates to contracts that were not substantially completed at the date of implementation.
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenue Recognition, Milestone Method, Revenue Recognized		$ 44	$ 146	$ 61

Sales and Other Operating Rev81

Sales and Other Operating Revenue - Practical Expedients (Details)	3 Months Ended
	Mar. 31, 2018
Revenue, Practical Expedient [Abstract]
Practical Expedient	true
Revenue, Practical Expedient, Remaining Performance Obligation, Description	Typically, our commodity sales contracts are less than 12 months in duration; however, in certain specific cases may extend longer, which may be out to the end of field life. We have long-term commodity sales contracts which use prevailing market prices at the time of delivery, and under these contracts, the market-based variable consideration for each performance obligation (i.e., delivery of commodity) is allocated to each wholly unsatisfied performance obligation within the contract. Accordingly, we have applied the practical expedient allowed in ASC Topic 606 and do not disclose the aggregate amount of the transaction price allocated to performance obligations or when we expect to recognize revenues that are unsatisfied (or partially unsatisfied) as of the end of the reporting period.

Sales and Other Operating Rev82

Sales and Other Operating Revenue - Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue from contracts with customers	$ 8,798	$ 7,518	[1]
Physical gas contracts [Member]
Revenue from contracts with customers	2,261	2,425	[1]
Crude oil product line [Member]
Revenue from contracts with customers	286	141
Natural Gas Product Line [Member]
Revenue from contracts with customers	1,890	2,194
Other Products [Member]
Revenue from contracts with customers	85	90	[1]
Financial Derivative Contracts [Member]
Revenue from contracts with customers	(8)	(65)	[1]
Lower 48 Segment | Physical gas contracts [Member]
Revenue from contracts with customers	1,713	1,727	[1]
Canada Segment [Member] | Physical gas contracts [Member]
Revenue from contracts with customers	191	279	[1]
Europe and North Africa Segment [Member] | Physical gas contracts [Member]
Revenue from contracts with customers	357	419	[1]
Accounting Standards Update 2014-09 [Member]
Revenue from contracts with customers	$ 6,545	$ 5,158	[1]
Revenue, Performance Obligation, Description of Payment Terms	We typically receive payment within 30 days or less (depending on the terms of the invoice)
[1]	*Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606.

Sales and Other Operating Rev83

Sales and Other Operating Revenue - Receivables and Contract LIabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Contract with Customer, Liability [Abstract]
Contract with Customer, Liability Beginning Balance	$ 251
Contract with Customer, Liability Ending Balance	251
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 251
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation	We expect to recognize such amounts between 2018 and 2019 as construction is completed.
Short-term Contract with Customer [Member]
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 153
Long-term Contract with Customer [Member]
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized	98
Accounting Standards Update 2014-09 [Member]
Accounts Receivable, Net	$ 2,625	$ 2,675
Revenue, Performance Obligation, Description of Payment Terms	We typically receive payment within 30 days or less (depending on the terms of the invoice)
Revenue, Performance Obligation, Description of Timing	once delivery is made
Contract with Customer, Timing of Satisfaction of Performance Obligation and Payment	We have entered into contractual arrangements where we license proprietary technology to customers related to the optimization process for operating LNG plants. The agreements typically provide for negotiated payments to be made at stated milestones. The payments are not directly related to our performance under the contract and are recorded as deferred revenue to be recognized as revenue when the customer can utilize and benefit from their right to use the license. Payments are received in installments over the construction period.

Segment Disclosures and Relat84

Segment Disclosures and Related Information - Sales (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue, Net [Abstract]
Sales and other operating revenues	$ 8,798	$ 7,518	[1]
Natural Gas [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	2,796	2,922
Natural Gas Liquids Reserves [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	231	288
Crude Oil [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	4,450	3,290
Other Products [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	1,321	1,018
U.S.
Revenue, Net [Abstract]
Sales and other operating revenues	5,336	4,240
Australia
Revenue, Net [Abstract]
Sales and other operating revenues	440	383
Canada
Revenue, Net [Abstract]
Sales and other operating revenues	636	784
China
Revenue, Net [Abstract]
Sales and other operating revenues	218	205
Indonesia
Revenue, Net [Abstract]
Sales and other operating revenues	215	199
Malaysia
Revenue, Net [Abstract]
Sales and other operating revenues	344	237
Norway
Revenue, Net [Abstract]
Sales and other operating revenues	663	689
United Kingdom
Revenue, Net [Abstract]
Sales and other operating revenues	669	622
Other Non US Countries
Revenue, Net [Abstract]
Sales and other operating revenues	277	159
Alaska [Member] | Operating Segments [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	1,385	1,007
Lower 48 [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	3,952	3,230
Lower 48 [Member] | Operating Segments [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	3,949	3,227
Lower 48 [Member] | Intersegment Eliminations [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	(3)	(3)
Canada
Revenue, Net [Abstract]
Sales and other operating revenues	891	870
Canada | Operating Segments [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	636	784
Canada | Intersegment Eliminations [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	(255)	(86)
Europe and North Africa [Member] | Operating Segments [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	1,608	1,443
Asia Pacific and Middle East [Member] | Operating Segments [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	1,216	1,022
Corporate and Other [Member] | Corporate, Non-Segment [Member]
Revenue, Net [Abstract]
Sales and other operating revenues	$ 4	$ 35
[1]	*Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606.

Segment Disclosures and Relat85

Segment Disclosures and Related Information - Net Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	$ 888	$ 586
Assets [Abstract]
Assets	70,727		$ 73,362
Alaska [Member] | Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	524	(11)
Assets [Abstract]
Assets	12,610		12,108
Lower 48 [Member] | Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	308	(362)
Assets [Abstract]
Assets	14,584		14,632
Canada [Member] | Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	(65)	948
Assets [Abstract]
Assets	6,074		6,214
Europe and North Africa [Member] | Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	245	171
Assets [Abstract]
Assets	12,267		11,870
Asia Pacific and Middle East [Member] | Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	461	236
Assets [Abstract]
Assets	16,753		16,985
Other International [Member] | Operating Segments [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	(44)	(48)
Assets [Abstract]
Assets	97		97
Corporate and Other [Member] | Corporate, Non-Segment [Member]
Net Income (Loss) Attributable to ConocoPhillips [Abstract]
Consolidated net income (loss) attributable to ConocoPhillips	(541)	$ (348)
Assets [Abstract]
Assets	$ 8,342		$ 11,456

Segment Disclosures - Textual (

Segment Disclosures - Textual (Details)	3 Months Ended
	Mar. 31, 2018
Segment Disclosures and Related Information [Abstract]
Number of Operating Segments	6

Segment Disclosures and Relat87

Segment Disclosures and Related Information - Assets (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets [Abstract]
Consolidated total assets	$ 70,727	$ 73,362

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Taxes (Textual) [Abstract]
Effective tax rate	49.30%	358.20%

Income Taxes - Rate Reconciliat

Income Taxes - Rate Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income (loss) before taxes - United States	$ 786	$ (794)
Income Loss Before Income Taxes Foreign	990	562
Income (Loss) before income taxes	1,776	(232)
Federal Statutory Income Tax Rate, Amount	373	(81)
Non-U.S. effective tax rates	446	266
Canada disposition	0	(996)
Recovery of outside basis	0	(835)
Adjustment to tax reserves, amount	(2)	822
Adjustment to valuation allowances	57	24
State Income Taxes	19	(13)
Enhanded oil recovery credit	(20)	(16)
Other Reconciling Items	3	(2)
Income Tax Expense (Benefit)	$ 876	$ (831)
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation Abstract
Income (Loss) Before Income Taxes Domestic Percentage	44.30%	342.20%
Income (Loss) Before Income Taxes Foreign Percentage	55.70%	(242.20%)
Income (Loss) Before Income Taxes In Percent	100.00%	100.00%
Federal statutory rate percentage	21.00%	35.00%
Non US effective tax rates percentage	25.10%	(114.70%)
Canada disposition, percentage	0.00%	429.30%
Recovery of outside basis, percentage	0.00%	359.90%
Adjustment to tax reserves, percentage	(0.10%)	(354.30%)
Adjustment to Value Allowance, Percentage	3.20%	(10.30%)
State income tax, percentage	1.10%	5.60%
Enhanced oil recovery, percentage	(1.10%)	6.90%
Other, percentage	0.10%	0.80%
Effective Income Tax Rate, Continuing Operations	49.30%	358.20%

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Examination [Line Items]
Canada disposition	$ 0	$ (996)
Recovery of outside basis	0	(835)
Adjustment to tax reserves, amount	$ (2)	822
Canada Revenue Agency [Member] | Foster Creek Christina Lake (FCCL) and western Canada gas properties [Member]
Income Tax Examination [Line Items]
Canada disposition		996
Recovery of outside basis		(822)
Adjustment to tax reserves, amount		$ 822

Supplementary Information - C91

Supplementary Information - Condensed Consolidating Financial Information - Inc Stmt (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Revenues and Other Income
Sales and other operating revenues		$ 8,798	$ 7,518	[1]
Equity in earnings (losses) of affiliates		208	200
Gain (loss) on dispositions		7	22
Other income		(52)	31
Intercomapny revenues		0	0
Total Revenues and Other Income		8,961	7,771
Costs and Expenses
Purchased commodities		3,714	3,192
Production and operating expenses		1,171	1,291	[2],[3]
Selling, general and administrative expenses		99	97	[2],[3]
Exploration expenses		95	550	[2],[3]
Depreciation, depletion and amortization		1,412	1,979
Impairments		12	175
Taxes other than income taxes		183	231
Accretion on discounted liabilities		88	95
Interest and debt expense		184	315
Foreign currency transaction (gains) losses		30	10
Other Expense		197	68	[2],[4]
Total Costs and Expenses		7,185	8,003
Income (Loss) before income taxes		1,776	(232)
Income Tax Expense (Benefit)		876	(831)
Net income (loss)		900	599
Less: net income attributable to noncontrolling interests		(12)	(13)
Net Income (Loss)		888	586
Comprehensive Income (Loss) Attributable to ConocoPhillips	[5]	977	818
ConocoPhillips [Member]
Revenues and Other Income
Sales and other operating revenues		0	0
Equity in earnings (losses) of affiliates		954	657
Gain (loss) on dispositions		0	0
Other income		0	0
Intercomapny revenues		9	17
Total Revenues and Other Income		963	674
Costs and Expenses
Purchased commodities		0	0
Production and operating expenses		0	0
Selling, general and administrative expenses		4	4
Exploration expenses		0	0
Depreciation, depletion and amortization		0	0
Impairments		0	0
Taxes other than income taxes		0	0
Accretion on discounted liabilities		0	0
Interest and debt expense		71	129
Foreign currency transaction (gains) losses		18	(7)
Other Expense		0	0
Total Costs and Expenses		93	126
Income (Loss) before income taxes		870	548
Income Tax Expense (Benefit)		(18)	(38)
Net income (loss)		888	586
Less: net income attributable to noncontrolling interests		0	0
Net Income (Loss)		888	586
Comprehensive Income (Loss) Attributable to ConocoPhillips		977	818
Consolidating Adjustments [Member]
Revenues and Other Income
Sales and other operating revenues			7,518
Equity in earnings (losses) of affiliates		(2,496)	(1,790)
Gain (loss) on dispositions		0	0
Other income		0	0
Intercomapny revenues		(1,313)	(924)
Total Revenues and Other Income		(3,809)	(2,714)
Costs and Expenses
Purchased commodities		(1,129)	(763)
Production and operating expenses		(33)	(1)
Selling, general and administrative expenses		(5)	(5)
Exploration expenses		0	0
Depreciation, depletion and amortization		0	0
Impairments		0	0
Taxes other than income taxes		0	0
Accretion on discounted liabilities		0	0
Interest and debt expense		(146)	(155)
Foreign currency transaction (gains) losses		0	0
Other Expense		0	0
Total Costs and Expenses		(1,313)	(924)
Income (Loss) before income taxes		(2,496)	(1,790)
Income Tax Expense (Benefit)		0	0
Net income (loss)		(2,496)	(1,790)
Less: net income attributable to noncontrolling interests		0	0
Net Income (Loss)		(2,496)	(1,790)
Comprehensive Income (Loss) Attributable to ConocoPhillips		(2,600)	(2,238)
Reportable Legal Entities [Member] | ConocoPhillips Company [Member]
Revenues and Other Income
Sales and other operating revenues		3,764	3,115
Equity in earnings (losses) of affiliates		1,499	1,173
Gain (loss) on dispositions		3	13
Other income		(103)	2
Intercomapny revenues		56	71
Total Revenues and Other Income		5,219	4,374
Costs and Expenses
Purchased commodities		3,410	2,765
Production and operating expenses		172	132
Selling, general and administrative expenses		74	76
Exploration expenses		53	371
Depreciation, depletion and amortization		132	251
Impairments		(9)	0
Taxes other than income taxes		50	49
Accretion on discounted liabilities		4	10
Interest and debt expense		159	165
Foreign currency transaction (gains) losses		(9)	0
Other Expense		194	70
Total Costs and Expenses		4,230	3,889
Income (Loss) before income taxes		989	485
Income Tax Expense (Benefit)		35	(172)
Net income (loss)		954	657
Less: net income attributable to noncontrolling interests		0	0
Net Income (Loss)		954	657
Comprehensive Income (Loss) Attributable to ConocoPhillips		1,043	889
Reportable Legal Entities [Member] | ConocoPhillips Canada Funding Company I [Member]
Revenues and Other Income
Sales and other operating revenues		0	0
Equity in earnings (losses) of affiliates		0	0
Gain (loss) on dispositions		0	0
Other income		0	0
Intercomapny revenues		44	42
Total Revenues and Other Income		44	42
Costs and Expenses
Purchased commodities		0	0
Production and operating expenses		0	0
Selling, general and administrative expenses		0	0
Exploration expenses		0	0
Depreciation, depletion and amortization		0	0
Impairments		0	0
Taxes other than income taxes		0	0
Accretion on discounted liabilities		0	0
Interest and debt expense		37	37
Foreign currency transaction (gains) losses		(27)	49
Other Expense		0	0
Total Costs and Expenses		10	86
Income (Loss) before income taxes		34	(44)
Income Tax Expense (Benefit)		(9)	(5)
Net income (loss)		43	(39)
Less: net income attributable to noncontrolling interests		0	0
Net Income (Loss)		43	(39)
Comprehensive Income (Loss) Attributable to ConocoPhillips		(25)	(13)
Reportable Legal Entities [Member] | All Other Subsidiaries [Member]
Revenues and Other Income
Sales and other operating revenues		5,034	4,403
Equity in earnings (losses) of affiliates		251	160
Gain (loss) on dispositions		4	9
Other income		51	29
Intercomapny revenues		1,204	794
Total Revenues and Other Income		6,544	5,395
Costs and Expenses
Purchased commodities		1,433	1,190
Production and operating expenses		1,032	1,160
Selling, general and administrative expenses		26	22
Exploration expenses		42	179
Depreciation, depletion and amortization		1,280	1,728
Impairments		21	175
Taxes other than income taxes		133	182
Accretion on discounted liabilities		84	85
Interest and debt expense		63	139
Foreign currency transaction (gains) losses		48	(32)
Other Expense		3	(2)
Total Costs and Expenses		4,165	4,826
Income (Loss) before income taxes		2,379	569
Income Tax Expense (Benefit)		868	(616)
Net income (loss)		1,511	1,185
Less: net income attributable to noncontrolling interests		(12)	(13)
Net Income (Loss)		1,499	1,172
Comprehensive Income (Loss) Attributable to ConocoPhillips		$ 1,582	$ 1,362
[1]	*Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606.
[2]	*Certain amounts have been reclassified to conform to the current-period presentation resulting from the adoption of ASU No. 2017-07.
[3]	See Note 2—Changes in Accounting Principles, for additional information.
[4]	See Note 2—Changes in Accounting Principles, for additional information.
[5]	See Notes to Consolidated Financial Statements.

Supplementary Information - C92

Supplementary Information - Condensed Consolidating Financial Information - Bal Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 4,984	$ 6,325
Short-term investments	288	1,873
Accounts and notes receivable	4,192	4,320
Investment in Cenovus Energy	1,776	1,899
Inventories	1,053	1,060
Prepaid expenses and other current assets	894	1,035
Total Current Assets	13,187	16,512
Investments and long-term receiavables	9,971	10,060
Net properties, plants and equipment	45,997	45,683
Other assets	1,572	1,107
Total Assets	70,727	73,362
Liabilities and Stockholders' Equity
Accounts payable	3,886	4,030
Short-term debt	337	2,575
Accrued income and other taxes	1,341	1,038
Employee benefit obligations	408	725
Other accruals	1,137	1,029
Total Current Liabilities	7,109	9,397
Long-term debt	16,709	17,128
Asset retirement obligations and accrued environmental costs	7,789	7,631
Deferred income taxes	5,409	5,282
Employee benefit obligations	1,832	1,854
Other liabilities and deferred credits	1,161	1,269
Total Liabilities	40,009	42,561
Retained earnings	29,663	29,391
Other common stockholders' equity	883	1,216
Noncontrolling interests	172	194
Total Liabilities and Stockholders' Equity	70,727	73,362
ConocoPhillips [Member]
Assets
Cash and cash equivalents	0	0
Short-term investments	0	0
Accounts and notes receivable	6	24
Investment in Cenovus Energy	0	0
Inventories	0	0
Prepaid expenses and other current assets	1	1
Total Current Assets	7	25
Investments and long-term receiavables	30,214	29,400
Net properties, plants and equipment	0	0
Other assets	19	15
Total Assets	30,240	29,440
Liabilities and Stockholders' Equity
Accounts payable	0	0
Short-term debt	(5)	(5)
Accrued income and other taxes	0	0
Employee benefit obligations	0	0
Other accruals	57	85
Total Current Liabilities	52	80
Long-term debt	3,788	3,787
Asset retirement obligations and accrued environmental costs	0	0
Deferred income taxes	0	0
Employee benefit obligations	0	0
Other liabilities and deferred credits	2,416	1,528
Total Liabilities	6,256	5,395
Retained earnings	23,139	22,867
Other common stockholders' equity	845	1,178
Noncontrolling interests	0	0
Total Liabilities and Stockholders' Equity	30,240	29,440
Consolidating Adjustments [Member]
Assets
Cash and cash equivalents	0	0
Short-term investments	0	0
Accounts and notes receivable	(2,641)	(2,864)
Investment in Cenovus Energy	0	0
Inventories	0	0
Prepaid expenses and other current assets	(27)	(29)
Total Current Assets	(2,668)	(2,893)
Investments and long-term receiavables	(88,729)	(84,897)
Net properties, plants and equipment	(475)	(477)
Other assets	(1,400)	(1,542)
Total Assets	(93,272)	(89,809)
Liabilities and Stockholders' Equity
Accounts payable	(2,641)	(2,864)
Short-term debt	(10)	(9)
Accrued income and other taxes	0	0
Employee benefit obligations	0	0
Other accruals	(26)	(30)
Total Current Liabilities	(2,677)	(2,903)
Long-term debt	(478)	(477)
Asset retirement obligations and accrued environmental costs	0	0
Deferred income taxes	(872)	(981)
Employee benefit obligations	0	0
Other liabilities and deferred credits	(17,051)	(15,629)
Total Liabilities	(21,078)	(19,990)
Retained earnings	(20,288)	(18,070)
Other common stockholders' equity	(51,906)	(51,749)
Noncontrolling interests	0	0
Total Liabilities and Stockholders' Equity	(93,272)	(89,809)
Reportable Legal Entities [Member] | ConocoPhillips Company [Member]
Assets
Cash and cash equivalents	68	234
Short-term investments	0	0
Accounts and notes receivable	1,974	2,255
Investment in Cenovus Energy	1,776	1,899
Inventories	139	163
Prepaid expenses and other current assets	161	278
Total Current Assets	4,118	4,829
Investments and long-term receiavables	48,760	47,974
Net properties, plants and equipment	4,280	4,230
Other assets	1,036	1,146
Total Assets	58,194	58,179
Liabilities and Stockholders' Equity
Accounts payable	2,754	3,094
Short-term debt	263	2,505
Accrued income and other taxes	163	107
Employee benefit obligations	310	554
Other accruals	420	314
Total Current Liabilities	3,910	6,574
Long-term debt	8,956	9,321
Asset retirement obligations and accrued environmental costs	435	432
Deferred income taxes	0	0
Employee benefit obligations	1,318	1,335
Other liabilities and deferred credits	7,467	5,229
Total Liabilities	22,086	22,891
Retained earnings	13,990	13,317
Other common stockholders' equity	22,118	21,971
Noncontrolling interests	0	0
Total Liabilities and Stockholders' Equity	58,194	58,179
Reportable Legal Entities [Member] | ConocoPhillips Canada Funding Company I [Member]
Assets
Cash and cash equivalents	3	4
Short-term investments	0	0
Accounts and notes receivable	36	35
Investment in Cenovus Energy	0	0
Inventories	0	0
Prepaid expenses and other current assets	7	6
Total Current Assets	46	45
Investments and long-term receiavables	2,504	2,533
Net properties, plants and equipment	0	0
Other assets	188	186
Total Assets	2,738	2,764
Liabilities and Stockholders' Equity
Accounts payable	2	1
Short-term debt	7	7
Accrued income and other taxes	0	0
Employee benefit obligations	0	0
Other accruals	52	48
Total Current Liabilities	61	56
Long-term debt	1,701	1,703
Asset retirement obligations and accrued environmental costs	0	0
Deferred income taxes	0	0
Employee benefit obligations	0	0
Other liabilities and deferred credits	922	926
Total Liabilities	2,684	2,685
Retained earnings	(638)	(681)
Other common stockholders' equity	692	760
Noncontrolling interests	0	0
Total Liabilities and Stockholders' Equity	2,738	2,764
Reportable Legal Entities [Member] | All Other Subsidiaries [Member]
Assets
Cash and cash equivalents	4,913	6,087
Short-term investments	288	1,873
Accounts and notes receivable	4,817	4,870
Investment in Cenovus Energy	0	0
Inventories	914	897
Prepaid expenses and other current assets	752	779
Total Current Assets	11,684	14,506
Investments and long-term receiavables	17,222	15,050
Net properties, plants and equipment	42,192	41,930
Other assets	1,729	1,302
Total Assets	72,827	72,788
Liabilities and Stockholders' Equity
Accounts payable	3,771	3,799
Short-term debt	82	77
Accrued income and other taxes	1,178	931
Employee benefit obligations	98	171
Other accruals	634	612
Total Current Liabilities	5,763	5,590
Long-term debt	2,742	2,794
Asset retirement obligations and accrued environmental costs	7,354	7,199
Deferred income taxes	6,281	6,263
Employee benefit obligations	514	519
Other liabilities and deferred credits	7,407	9,215
Total Liabilities	30,061	31,580
Retained earnings	13,460	11,958
Other common stockholders' equity	29,134	29,056
Noncontrolling interests	172	194
Total Liabilities and Stockholders' Equity	$ 72,827	$ 72,788

Supplementary Information - C93

Supplementary Information - Condensed Consolidating Financial Information - Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018		Mar. 31, 2017
Cash Flows From Operating Activities
Net cash provided by (used in) operating activities	$ 2,399		$ 1,790
Cash Flows From Investing Activities
Capital expenditures and investments	(1,535)		(966)
Working capital changes associated with investing activities	28		(26)
Proceeds from asset dispositions	169		35
Net sales (purchases) of short-term investments	1,593		(203)
Long-term advances/loans-related parties	0		0
Collection of advances/loans-related parties	59		57
Intercompany cash management	0		0
Other	(392)		129
Net Cash Provided by (Used in) Investing Activities	(78)		(974)
Cash Flows From Financing Activities
Issuance of debt	0		0
Repayment of debt	(2,888)		(839)
Issuance of company common stock	(18)		(46)
Repurchase of company common stock	(500)		(112)
Dividends paid	(338)		(331)
Other	(32)		(16)
Net Cash Provided by (Used in) Financing Activities	(3,776)		(1,344)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash	125		27
Net Change in Cash and Cash Equivalents and Restricted Cash	(1,330)		(501)	[1],[2],[3]
Cash and Cash Equivalents and Restricted Cash at beginning of period	6,536		3,610
Cash and Cash Equivalents and Restricted Cash at end of period	5,206		3,109
ConocoPhillips [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) operating activities	(69)		(97)
Cash Flows From Investing Activities
Capital expenditures and investments	0		0
Working capital changes associated with investing activities	0		0
Proceeds from asset dispositions	0		0
Net sales (purchases) of short-term investments	0		0
Long-term advances/loans-related parties	0		0
Collection of advances/loans-related parties	0		0
Intercompany cash management	887		1,341
Other	0		0
Net Cash Provided by (Used in) Investing Activities	887		1,341
Cash Flows From Financing Activities
Issuance of debt	0		0
Repayment of debt	0		(805)
Issuance of company common stock	19		3
Repurchase of company common stock	(500)		(112)
Dividends paid	(338)		(331)
Other	1		1
Net Cash Provided by (Used in) Financing Activities	(818)		(1,244)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash	0		0
Net Change in Cash and Cash Equivalents and Restricted Cash	0	[4],[5]	0
Cash and Cash Equivalents and Restricted Cash at beginning of period	0		0
Cash and Cash Equivalents and Restricted Cash at end of period	0		0
Reportable Legal Entities [Member] | ConocoPhillips Company [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) operating activities	(123)		1,014
Cash Flows From Investing Activities
Capital expenditures and investments	(233)		(149)
Working capital changes associated with investing activities	(93)		55
Proceeds from asset dispositions	141		46
Net sales (purchases) of short-term investments	0		0
Long-term advances/loans-related parties	(4)		(30)
Collection of advances/loans-related parties	1,306		63
Intercompany cash management	1,638		1,037
Other	0		0
Net Cash Provided by (Used in) Investing Activities	2,755		1,022
Cash Flows From Financing Activities
Issuance of debt	0		0
Repayment of debt	(2,807)		(2,081)
Issuance of company common stock	0		0
Repurchase of company common stock	0		0
Dividends paid	0		0
Other	0		0
Net Cash Provided by (Used in) Financing Activities	(2,807)		(2,081)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash	9		0
Net Change in Cash and Cash Equivalents and Restricted Cash	(166)		(45)
Cash and Cash Equivalents and Restricted Cash at beginning of period	234		358
Cash and Cash Equivalents and Restricted Cash at end of period	68		313
Reportable Legal Entities [Member] | ConocoPhillips Canada Funding Company I [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) operating activities	(30)		45
Cash Flows From Investing Activities
Capital expenditures and investments	0		0
Working capital changes associated with investing activities	0		0
Proceeds from asset dispositions	0		0
Net sales (purchases) of short-term investments	0		0
Long-term advances/loans-related parties	0		0
Collection of advances/loans-related parties	0		0
Intercompany cash management	0		0
Other	0		0
Net Cash Provided by (Used in) Investing Activities	0		0
Cash Flows From Financing Activities
Issuance of debt	29		0
Repayment of debt	0		0
Issuance of company common stock	0		0
Repurchase of company common stock	0		0
Dividends paid	0		0
Other	0		0
Net Cash Provided by (Used in) Financing Activities	29		0
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash	0		0
Net Change in Cash and Cash Equivalents and Restricted Cash	(1)		45
Cash and Cash Equivalents and Restricted Cash at beginning of period	4		13
Cash and Cash Equivalents and Restricted Cash at end of period	3		58
Reportable Legal Entities [Member] | All Other Subsidiaries [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) operating activities	2,584		1,581
Cash Flows From Investing Activities
Capital expenditures and investments	(1,308)		(819)
Working capital changes associated with investing activities	121		(81)
Proceeds from asset dispositions	39		18
Net sales (purchases) of short-term investments	1,593		(203)
Long-term advances/loans-related parties	(29)		0
Collection of advances/loans-related parties	59		2,138
Intercompany cash management	(2,525)		(2,378)
Other	(392)		129
Net Cash Provided by (Used in) Investing Activities	(2,442)		(1,196)
Cash Flows From Financing Activities
Issuance of debt	4		30
Repayment of debt	(1,387)		(97)
Issuance of company common stock	0		0
Repurchase of company common stock	0		0
Dividends paid	0		(802)
Other	(38)		(44)
Net Cash Provided by (Used in) Financing Activities	(1,421)		(913)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash	116		27
Net Change in Cash and Cash Equivalents and Restricted Cash	(1,163)		(501)
Cash and Cash Equivalents and Restricted Cash at beginning of period	6,298		3,239
Cash and Cash Equivalents and Restricted Cash at end of period	5,135		2,738
Consolidating Adjustments [Member]
Cash Flows From Operating Activities
Net cash provided by (used in) operating activities	37		(753)
Cash Flows From Investing Activities
Capital expenditures and investments	6		2
Working capital changes associated with investing activities	0		0
Proceeds from asset dispositions	(11)		(29)
Net sales (purchases) of short-term investments	0		0
Long-term advances/loans-related parties	33		30
Collection of advances/loans-related parties	(1,306)		(2,144)
Intercompany cash management	0		0
Other	0		0
Net Cash Provided by (Used in) Investing Activities	(1,278)		(2,141)
Cash Flows From Financing Activities
Issuance of debt	(33)		(30)
Repayment of debt	1,306		2,144
Issuance of company common stock	(37)		(49)
Repurchase of company common stock	0		0
Dividends paid	0		802
Other	5		27
Net Cash Provided by (Used in) Financing Activities	1,241		2,894
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash	0		0
Net Change in Cash and Cash Equivalents and Restricted Cash	0		0
Cash and Cash Equivalents and Restricted Cash at beginning of period	0		0
Cash and Cash Equivalents and Restricted Cash at end of period	$ 0		$ 0
[1]	*Restated to include $211 million of restricted cash at January 1, 2018.
[2]	Restricted cash totaling $222 million is included in the "Other assets" line of our Consolidated Balance Sheet as of March 31, 2018.
[3]	See Notes to Consolidated Financial Statements.
[4]	*Restated to include $211 million of restricted cash at January 1, 2018.
[5]	Restricted cash totaling $222 million is included in the "Other assets" line of our Consolidated Balance Sheet as of March 31, 2018.