EXHIBIT 99.3
- --------------------------------------------------------------------------------------------------------------------
ConocoPhillips SUMMARY OF NET INCOME (LOSS) BY SEGMENT
Millions of Dollars
------------------------------------------------------------------------------------
2006 2007
------------------------------------------- ---------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
------------------------------------------- ---------------------------------------
Income (Loss) from Continuing Operations
U.S. E&P 1,181 1,300 995 872 4,348 916 1,055 1,225 3,196
International E&P 1,372 2,004 909 1,215 5,500 1,413 (3,459) 857 (1,189)
- --------------------------------------------------------------------------- ---------------------------------------
Total E&P 2,553 3,304 1,904 2,087 9,848 2,329 (2,404) 2,082 2,007
- --------------------------------------------------------------------------- ---------------------------------------
Midstream 110 108 169 89 476 85 102 104 291
- --------------------------------------------------------------------------- ---------------------------------------
U.S. R&M 297 1,433 1,444 741 3,915 896 1,879 873 3,648
International R&M 93 275 20 178 566 240 479 434 1,153
- --------------------------------------------------------------------------- ---------------------------------------
Total R&M 390 1,708 1,464 919 4,481 1,136 2,358 1,307 4,801
- --------------------------------------------------------------------------- ---------------------------------------
LUKOIL Investment 249 387 487 302 1,425 256 526 387 1,169
Chemicals 149 103 142 98 492 82 68 110 260
Emerging Businesses 8 (12) 11 8 15 (1) (12) 3 (10)
Corporate and Other (168) (412) (301) (306) (1,187) (341) (337) (320) (998)
- --------------------------------------------------------------------------- ---------------------------------------
Consolidated 3,291 5,186 3,876 3,197 15,550 3,546 301 3,673 7,520
=========================================================================== =======================================
Cumulative Effect of Accounting Changes
U.S. E&P - - - - - - - - -
International E&P - - - - - - - - -
- --------------------------------------------------------------------------- ---------------------------------------
Total E&P - - - - - - - - -
- --------------------------------------------------------------------------- ---------------------------------------
Midstream - - - - - - - - -
- --------------------------------------------------------------------------- ---------------------------------------
U.S. R&M - - - - - - - - -
International R&M - - - - - - - - -
- --------------------------------------------------------------------------- ---------------------------------------
Total R&M - - - - - - - - -
- --------------------------------------------------------------------------- ---------------------------------------
LUKOIL Investment - - - - - - - - -
Chemicals - - - - - - - - -
Emerging Businesses - - - - - - - - -
Corporate and Other - - - - - - - - -
- --------------------------------------------------------------------------- ---------------------------------------
Consolidated - - - - - - - - -
=========================================================================== =======================================
Income (Loss) from Discontinued Operations
Corporate and Other - - - - - - - - -
=========================================================================== =======================================
Net Income (Loss)
U.S. E&P 1,181 1,300 995 872 4,348 916 1,055 1,225 3,196
International E&P 1,372 2,004 909 1,215 5,500 1,413 (3,459) 857 (1,189)
- --------------------------------------------------------------------------- ---------------------------------------
Total E&P 2,553 3,304 1,904 2,087 9,848 2,329 (2,404) 2,082 2,007
- --------------------------------------------------------------------------- ---------------------------------------
Midstream 110 108 169 89 476 85 102 104 291
- --------------------------------------------------------------------------- ---------------------------------------
U.S. R&M 297 1,433 1,444 741 3,915 896 1,879 873 3,648
International R&M 93 275 20 178 566 240 479 434 1,153
- --------------------------------------------------------------------------- ---------------------------------------
Total R&M 390 1,708 1,464 919 4,481 1,136 2,358 1,307 4,801
- --------------------------------------------------------------------------- ---------------------------------------
LUKOIL Investment 249 387 487 302 1,425 256 526 387 1,169
Chemicals 149 103 142 98 492 82 68 110 260
Emerging Businesses 8 (12) 11 8 15 (1) (12) 3 (10)
Corporate and Other (168) (412) (301) (306) (1,187) (341) (337) (320) (998)
- --------------------------------------------------------------------------- ---------------------------------------
Consolidated 3,291 5,186 3,876 3,197 15,550 3,546 301 3,673 7,520
=========================================================================== =======================================
Page 1 of 12
- --------------------------------------------------------------------------------------------------------------------
ConocoPhillips INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
Millions of Dollars
--------------------------------------------------------------------------------
2006 2007
--------------------------------------- ---------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
--------------------------------------- ---------------------------------------
Income from Continuing Operations
Before Income Taxes
U.S. E&P 1,853 2,062 1,598 1,380 6,893 1,425 1,627 1,867 4,919
International E&P 2,862 3,814 3,460 2,948 13,084 2,894 (1,976) 2,357 3,275
------------------------------------------------------------------------- ---------------------------------------
Total E&P 4,715 5,876 5,058 4,328 19,977 4,319 (349) 4,224 8,194
------------------------------------------------------------------------- ---------------------------------------
Midstream 173 187 214 150 724 132 156 157 445
------------------------------------------------------------------------- ---------------------------------------
U.S. R&M 512 2,260 2,282 1,195 6,249 1,400 2,891 1,369 5,660
International R&M 112 343 107 222 784 218 633 403 1,254
------------------------------------------------------------------------- ---------------------------------------
Total R&M 624 2,603 2,389 1,417 7,033 1,618 3,524 1,772 6,914
------------------------------------------------------------------------- ---------------------------------------
LUKOIL Investment 257 398 496 311 1,462 262 542 396 1,200
Chemicals 209 134 191 128 662 107 80 140 327
Emerging Businesses 9 (20) 14 11 14 (3) (20) (17) (40)
Corporate and Other (190) (496) (425) (428) (1,539) (369) (415) (308) (1,092)
------------------------------------------------------------------------- ---------------------------------------
Consolidated 5,797 8,682 7,937 5,917 28,333 6,066 3,518 6,364 15,948
========================================================================= =======================================
Income from Continuing Operations
Effective Tax Rates
U.S. E&P 36.3% 37.0% 37.7% 36.8% 36.9% 35.7% 35.2% 34.4% 35.0%
International E&P 52.1% 47.5% 73.7% 58.8% 58.0% 51.2% - 63.6% -
------------------------------------------------------------------------- ---------------------------------------
Total E&P 45.9% 43.8% 62.4% 51.8% 50.7% 46.1% - 50.7% 75.5%
------------------------------------------------------------------------- ---------------------------------------
Midstream 36.4% 42.2% 21.0% 40.7% 34.3% 35.6% 34.6% 33.8% 34.6%
------------------------------------------------------------------------- ---------------------------------------
U.S. R&M 42.0% 36.6% 36.7% 38.0% 37.3% 36.0% 35.0% 36.2% 35.5%
International R&M 17.0% 19.8% 81.3% 19.8% 27.8% -10.1% 24.3% -7.7% 8.1%
------------------------------------------------------------------------- ---------------------------------------
Total R&M 37.5% 34.4% 38.7% 35.1% 36.3% 29.8% 33.1% 26.2% 30.6%
------------------------------------------------------------------------- ---------------------------------------
LUKOIL Investment 3.1% 2.8% 1.8% 2.9% 2.5% 2.3% 3.0% 2.3% 2.6%
Chemicals 28.7% 23.1% 25.7% 23.4% 25.7% 23.4% 15.0% 21.4% 20.5%
Emerging Businesses 11.1% 40.0% 21.4% 27.3% -7.1% 66.7% 40.0% - 75.0%
Corporate and Other 11.6% 16.9% 29.2% 28.5% 22.9% 7.6% 18.8% -3.9% 8.6%
------------------------------------------------------------------------- ---------------------------------------
Consolidated 43.2% 40.3% 51.2% 46.0% 45.1% 41.5% 91.4% 42.3% 52.8%
========================================================================= =======================================
Page 2 of 12
- --------------------------------------------------------------------------------------------------------------------
CERTAIN ITEMS INCLUDED IN INCOME FROM CONTINUING OPERATIONS (AFTER-TAX)
ConocoPhillips Millions of Dollars
--------------------------------------------------------------------------------
2006 2007
--------------------------------------- ---------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
--------------------------------------- ---------------------------------------
U.S. E&P
Gain (loss) on asset sales - 15 - 33 48 36 11 - 47
FERC Rulings - - - - - - - 94 94
Impairments - (26) - (10) (36) - - - -
Insurance premium adjustments (2) - (5) (4) (11) - - - -
Pending claims and settlements - - 18 - 18 - - - -
Business interruption insurance
claims recovery - - 15 - 15 - - - -
Enacted tax legislation - 2 - - 2 - - - -
------------------------------------------------------------------------- ---------------------------------------
Total (2) (9) 28 19 36 36 11 94 141
------------------------------------------------------------------------- ---------------------------------------
International
E&P
Gain (loss) on asset sales - 25 - - 25 407 (82) 164 489
Insurance premium adjustments (10) - (10) (8) (28) - - - -
International tax law changes - 401 (270) (31) 100 38 - - 38
Impairment - expropriated assets - - - - - - (4,512) - (4,512)
Impairments - - (4) (104) (108) (88) (33) (32) (153)
Business interruption insurance
claims recovery - - 11 3 14 - - - -
Pending claims and settlements - - - 25 25 - - - -
------------------------------------------------------------------------- ---------------------------------------
Total (10) 426 (273) (115) 28 357 (4,627) 132 (4,138)
------------------------------------------------------------------------- ---------------------------------------
Total E&P (12) 417 (245) (96) 64 393 (4,616) 226 (3,997)
------------------------------------------------------------------------- ---------------------------------------
Midstream
Business interruption insurance
claims recovery - - - 5 5 - - - -
DCP Midstream's sale of TEPPCO
general ptnr - - 30 - 30 - - - -
Enacted tax legislation - (6) - - (6) - - - -
------------------------------------------------------------------------- ---------------------------------------
Total - (6) 30 5 29 - - - -
------------------------------------------------------------------------- ---------------------------------------
U.S. R&M
Gain (loss) on asset sales - - - - - - - 2 2
Impairments - - (35) (192) (227) (13) - 3 (10)
Insurance premium adjustments (6) - (7) (6) (19) - - - -
Business interruption insurance
claims recovery - - 111 - 111 - - - -
Enacted tax legislation - 34 - - 34 - - - -
------------------------------------------------------------------------- ---------------------------------------
Total (6) 34 69 (198) (101) (13) - 5 (8)
------------------------------------------------------------------------- ---------------------------------------
International
R&M
Gain (loss) on asset sales - - - - - - 163 158 321
Impairments - - (214) - (214) 148 (5) (30) 113
Germany tax rate change - - - - - - - 141 141
Insurance premium adjustments (1) - (1) (1) (3) - - - -
------------------------------------------------------------------------- ---------------------------------------
Total (1) - (215) (1) (217) 148 158 269 575
------------------------------------------------------------------------- ---------------------------------------
Total R&M (7) 34 (146) (199) (318) 135 158 275 568
------------------------------------------------------------------------- ---------------------------------------
LUKOIL
Investment
Ownership interest adjustment - - 23 - 23 - - - -
------------------------------------------------------------------------- ---------------------------------------
Total - - 23 - 23 - - - -
------------------------------------------------------------------------- ---------------------------------------
Chemicals
Business interruption insurance
claims recovery - - 7 13 20 - - - -
Asset retirements recorded
by CPChem - - - (16) (16) - (21) - (21)
Enacted tax legislation - (5) - - (5) - - - -
------------------------------------------------------------------------- ---------------------------------------
Total - (5) 7 (3) (1) - (21) - (21)
------------------------------------------------------------------------- ---------------------------------------
Emerging Businesses
Property write-down - (14) - - (14) - - - -
------------------------------------------------------------------------- ---------------------------------------
Total - (14) - - (14) - - - -
------------------------------------------------------------------------- ---------------------------------------
Corporate and Other
Acquisition-related expenses (5) (39) (32) (22) (98) (13) (16) (11) (40)
FERC Rulings - - - - - - - (14) (14)
Premium on early debt retirement - - - - - (14) - - (14)
Pending claims and settlements (15) - - - (15) - - - -
Canada tax law change - (10) - - (10) - - - -
------------------------------------------------------------------------- ---------------------------------------
Total (20) (49) (32) (22) (123) (27) (16) (25) (68)
------------------------------------------------------------------------- ---------------------------------------
Total Company (39) 377 (363) (315) (340) 501 (4,495) 475 (3,518)
========================================================================= =======================================
Page 3 of 12
- ---------------------------------------------------------------------------------------------------------------------------
ConocoPhillips CASH FLOW INFORMATION
Millions of Dollars
--------------------------------------------------------------------------------------------
2006 2007
---------------------------------------------- --------------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
---------------------------------------------- --------------------------------------------
Cash Flows from Operating
Activities
Net income 3,291 5,186 3,876 3,197 15,550 3,546 301 3,673 7,520
DD&A and impairments 1,180 2,015 2,404 2,368 7,967 2,023 2,114 2,240 6,377
Impairment - expropriated
assets - - - - - - 4,588 - 4,588
Dry hole costs and leasehold
impairments 38 47 56 210 351 148 133 74 355
Accretion on discounted
liabilities 60 73 74 74 281 79 81 81 241
Deferred income taxes 168 (390) 495 (56) 217 77 103 (125) 55
Undistributed equity earnings (67) (687) (253) 62 (945) (557) (678) (237) (1,472)
Net gain on asset
dispositions (3) (53) (8) (52) (116) (499) (428) (389) (1,316)
Other (203) 189 (282) 95 (201) (94) 182 (60) 28
Net working capital changes 336 (1,536) (127) (261) (1,588) 2,150 (1,630) 734 1,254
- ----------------------------------------------------------------------------- --------------------------------------------
Net Cash Provided by
Operating Activities 4,800 4,844 6,235 5,637 21,516 6,873 4,766 5,991 17,630
- ----------------------------------------------------------------------------- --------------------------------------------
Cash Flows from Investing
Activities
Capital expenditures and
investments*:
E&P (2,206) (2,172) (2,454) (2,681) (9,513) (2,570) (2,148) (2,177) (6,895)
Midstream (1) (1) - (2) (4) - (2) - (2)
R&M (1,635) (475) (374) (532) (3,016) (205) (271) (276) (752)
LUKOIL Investment (612) (648) (702) (753) (2,715) - - - -
Chemicals - - - - - - - - -
Emerging Businesses (12) (28) (6) (37) (83) (31) (34) (62) (127)
Corporate and Other (48) (78) (61) (78) (265) (41) (45) (45) (131)
- ----------------------------------------------------------------------------- --------------------------------------------
Total capital expend. &
investments (4,514) (3,402) (3,597) (4,083) (15,596) (2,847) (2,500) (2,560) (7,907)
Acquisition of Burlington
Resources Inc.* (14,190) (94) (1) - (14,285) - - - -
Proceeds from asset
dispositions 5 68 173 299 545 1,343 872 842 3,057
Long-term advances to/collections
from affiliates and other
investments (115) (151) (251) (140) (657) (144) (97) (118) (359)
- ----------------------------------------------------------------------------- --------------------------------------------
Net Cash Used for Investing
Activities (18,814) (3,579) (3,676) (3,924) (29,993) (1,648) (1,725) (1,836) (5,209)
- ----------------------------------------------------------------------------- --------------------------------------------
Cash Flows from Financing
Activities
Net issuance (repayment) of
debt 15,324 (2,756) (1,630) (706) 10,232 (3,491) (865) (961) (5,317)
Issuance of stock 40 64 41 75 220 40 141 70 251
Repurchase of stock - (425) (250) (250) (925) (1,000) (1,000) (2,501) (4,501)
Dividends (496) (595) (593) (593) (2,277) (674) (668) (667) (2,009)
Other (27) (20) (76) (62) (185) (49) (104) (136) (289)
- ----------------------------------------------------------------------------- --------------------------------------------
Net Cash Provided by (Used for)
Financing Activities 14,841 (3,732) (2,508) (1,536) 7,065 (5,174) (2,496) (4,195) (11,865)
- ----------------------------------------------------------------------------- --------------------------------------------
Effect of Exchange Rate Changes (33) 113 (9) (56) 15 (8) 6 8 6
- ----------------------------------------------------------------------------- --------------------------------------------
Net Change in Cash
and Cash Equivalents 794 (2,354) 42 121 (1,397) 43 551 (32) 562
Cash and cash
equivalents
at beginning of
period 2,214 3,008 654 696 2,214 817 860 1,411 817
- ----------------------------------------------------------------------------- --------------------------------------------
Cash and Cash Equivalents
at End of Period 3,008 654 696 817 817 860 1,411 1,379 1,379
============================================================================= ============================================
* Net of cash acquired.
Page 4 of 12
- --------------------------------------------------------------------------------------------------------------------
ConocoPhillips TOTAL E&P
2006 2007
--------------------------------------- ---------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
--------------------------------------- ---------------------------------------
E&P Net Income ($ Millions) 2,553 3,304 1,904 2,087 9,848 2,329 (2,404) 2,082 2,007
========================================================================= =======================================
Production
Total, Including Equity Affiliates
and Canadian Syncrude (MBOE/D) 1,610 2,134 2,036 2,047 1,957 2,020 1,910 1,759 1,896
------------------------------------------------------------------------- ---------------------------------------
E&P segment plus LUKOIL Investment
segment: 1,932 2,537 2,472 2,485 2,358 2,465 2,383 2,191 2,346
------------------------------------------------------------------------- ---------------------------------------
Crude Oil and Condensate (MB/D)
Consolidated 777 924 865 859 856 840 760 730 775
Equity affiliates 126 121 104 113 116 120 128 44 98
------------------------------------------------------------------------- ---------------------------------------
Total 903 1,045 969 972 972 960 888 774 873
========================================================================= =======================================
Sales of crude oil produced (MB/D) 913 1,040 953 988 973 949 876 803 875
------------------------------------------------------------------------- ---------------------------------------
Natural Gas Liquids (MB/D) 97 152 146 150 136 150 145 139 145
------------------------------------------------------------------------- ---------------------------------------
Natural Gas (MMCF/D)
Consolidated 3,554 5,498 5,379 5,387 4,961 5,313 5,124 4,916 5,116
Equity affiliates 11 10 8 7 9 9 9 - 6
------------------------------------------------------------------------- ---------------------------------------
Total 3,565 5,508 5,387 5,394 4,970 5,322 5,133 4,916 5,122
========================================================================= =======================================
Canadian Syncrude (MB/D) 16 19 23 26 21 23 21 27 24
------------------------------------------------------------------------- ---------------------------------------
Industry Prices (Platt's)
Crude Oil ($/bbl)
WTI spot 63.28 70.40 70.38 59.94 66.00 57.99 64.89 75.48 66.12
Brent dated 61.75 69.62 69.49 59.68 65.14 57.76 68.76 74.87 67.13
Natural Gas ($/mmbtu)
Henry Hub -- First of Month 9.01 6.80 6.58 6.56 7.24 6.77 7.55 6.16 6.83
------------------------------------------------------------------------- ---------------------------------------
Average Realized Prices
Crude Oil and Condensate ($/bbl)
Consolidated 58.97 65.89 67.37 56.87 62.39 55.17 64.55 73.01 63.99
Equity affiliates 43.38 52.28 46.98 41.79 46.01 40.02 47.74 44.60 44.30
Total 56.63 64.34 65.04 55.10 60.37 53.38 61.97 71.34 61.80
------------------------------------------------------------------------- ---------------------------------------
Natural Gas Liquids ($/bbl) 43.13 41.75 43.62 38.23 41.50 38.56 44.80 48.09 43.71
------------------------------------------------------------------------- ---------------------------------------
Natural Gas ($/mcf)
Consolidated 7.26 5.86 5.92 6.13 6.20 6.36 6.45 5.56 6.13
Equity affiliates 0.23 0.36 0.32 0.32 0.30 0.29 0.30 - 0.30
Total 7.24 5.85 5.91 6.12 6.19 6.35 6.44 5.56 6.13
------------------------------------------------------------------------- ---------------------------------------
Exploration Charges ($ Millions)
Dry Holes 19 15 18 142 194 62 74 23 159
Lease Impairments 19 33 37 68 157 86 59 51 196
------------------------------------------------------------------------- ---------------------------------------
Total Non-Cash Charges 38 48 55 210 351 148 133 74 355
Other (G&G and Lease Rentals) 74 86 142 181 483 114 126 144 384
------------------------------------------------------------------------- ---------------------------------------
Total Exploration Charges 112 134 197 391 834 262 259 218 739
========================================================================= =======================================
Depreciation, Depletion and
Amortization (DD&A) ($ Millions) 910 1,659 1,860 1,703 6,132 1,802 1,790 1,828 5,420
------------------------------------------------------------------------- ---------------------------------------
Page 5 of 12
- --------------------------------------------------------------------------------------------------------------------
ConocoPhillips U.S. E&P
2006 2007
--------------------------------------- ---------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
--------------------------------------- ---------------------------------------
U.S. E&P Net Income ($ Millions) 1,181 1,300 995 872 4,348 916 1,055 1,225 3,196
=========================================================================== =======================================
Alaska ($ Millions) 692 760 425 470 2,347 507 535 765 1,807
- --------------------------------------------------------------------------- ---------------------------------------
Lower 48 ($ Millions) 489 540 570 402 2,001 409 520 460 1,389
- --------------------------------------------------------------------------- ---------------------------------------
Production
Total U.S. (MBOE/D) 636 894 846 856 808 855 848 821 841
- --------------------------------------------------------------------------- ---------------------------------------
Crude Oil and Condensate (MB/D)
Alaska 283 279 234 257 263 276 267 241 261
Lower 48 64 120 119 113 104 104 105 103 104
- --------------------------------------------------------------------------- ---------------------------------------
Total 347 399 353 370 367 380 372 344 365
=========================================================================== =======================================
Sales of crude oil produced (MB/D) 363 398 355 371 371 372 370 380 374
- ------------------------------------------- ------ ------ ------ ------- ------- ------- ------ ------ -------
Natural Gas Liquids (MB/D)*
Alaska 22 20 11 17 17 22 18 15 18
Lower 48 29 70 75 72 62 68 71 73 71
- --------------------------------------------------------------------------- ---------------------------------------
Total 51 90 86 89 79 90 89 88 89
=========================================================================== =======================================
*Includes reinjection volumes sold
lease-to-lease: 14 14 7 9 11 16 15 11 14
- --------------------------------------------------------------------------- ---------------------------------------
Natural Gas (MMCF/D)
Alaska 163 163 123 131 145 122 100 116 113
Lower 48 1,264 2,265 2,320 2,250 2,028 2,190 2,219 2,219 2,210
- --------------------------------------------------------------------------- ---------------------------------------
Total 1,427 2,428 2,443 2,381 2,173 2,312 2,319 2,335 2,323
=========================================================================== =======================================
Average Realized Prices
Crude Oil and Condensate ($/bbl)
Alaska
North Slope 52.92 59.89 62.85 51.11 56.47 48.83 56.31 66.54 57.40
- --------------------------------------------------------------------------- ---------------------------------------
West Coast 58.87 66.02 69.66 57.00 62.66 55.50 63.26 73.57 64.29
- --------------------------------------------------------------------------- ---------------------------------------
Lower 48 52.21 59.63 62.45 51.26 57.04 49.32 58.50 67.77 58.57
- --------------------------------------------------------------------------- ---------------------------------------
Total U.S. 57.70 64.09 67.25 55.26 61.09 53.78 61.91 72.00 62.70
- --------------------------------------------------------------------------- ---------------------------------------
Natural Gas Liquids ($/bbl)
Alaska 58.88 65.25 67.12 57.03 61.06 55.27 63.52 73.40 63.02
- --------------------------------------------------------------------------- ---------------------------------------
Lower 48 38.20 38.29 41.34 34.51 38.10 36.46 43.29 46.37 42.18
- --------------------------------------------------------------------------- ---------------------------------------
Total U.S. 43.00 40.45 42.68 36.74 40.35 37.86 44.17 47.73 43.34
- --------------------------------------------------------------------------- ---------------------------------------
Natural Gas ($/mcf)
Alaska 3.58 3.42 3.36 4.05 3.59 4.19 4.04 2.15 3.50
- --------------------------------------------------------------------------- ---------------------------------------
Lower 48 7.50 5.81 6.00 5.85 6.14 6.21 6.51 5.38 6.03
- --------------------------------------------------------------------------- ---------------------------------------
Total U.S. 7.42 5.78 5.98 5.84 6.11 6.19 6.49 5.36 6.01
- --------------------------------------------------------------------------- ---------------------------------------
Kenai, Alaska LNG Sales
Volume (MMCF/D) 128 126 110 88 113 104 72 88 88
- --------------------------------------------------------------------------- ---------------------------------------
Sales price per MCF 6.45 5.16 6.16 6.33 6.00 5.83 5.86 6.01 5.90
- --------------------------------------------------------------------------- ---------------------------------------
U.S. Exploration Charges ($ Millions)
Dry Holes 8 3 8 67 86 13 36 19 68
Lease Impairments 8 15 13 46 82 43 43 43 129
- --------------------------------------------------------------------------- ---------------------------------------
Total Non-Cash Charges 16 18 21 113 168 56 79 62 197
Other (G&G and Lease Rentals) 14 1 66 55 136 26 40 57 123
- --------------------------------------------------------------------------- ---------------------------------------
Total U.S. Exploration Charges 30 19 87 168 304 82 119 119 320
=========================================================================== =======================================
Alaska Only 18 (7) 50 21 82 17 32 31 80
- --------------------------------------------------------------------------- ---------------------------------------
DD&A ($ Millions)
Alaska 132 135 137 151 555 168 167 165 500
Lower 48 251 634 784 623 2,292 618 661 667 1,946
- --------------------------------------------------------------------------- ---------------------------------------
Total U.S. 383 769 921 774 2,847 786 828 832 2,446
=========================================================================== =======================================
Page 6 of 12
- ---------------------------------------------------------------------------------------------------------------
ConocoPhillips INTERNATIONAL E&P
2006 2007
------------------------------------ -------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
------------------------------------ -------------------------------------
International E&P
Net Income ($ Millions) 1,372 2,004 909 1,215 5,500 1,413 (3,459) 857 (1,189)
======================================================================== =====================================
Production
Total, Including Equity Affiliates
and Canadian Syncrude (MBOE/D) 974 1,240 1,190 1,191 1,149 1,165 1,062 938 1,055
- ------------------------------------------------------------------------ -------------------------------------
Crude Oil and Condensate (MB/D)
Consolidated
Norway 188 192 190 185 189 179 145 166 163
United Kingdom 62 57 50 56 56 55 48 37 47
Canada 22 27 26 27 25 21 19 17 19
China 25 34 36 36 33 38 32 29 33
Indonesia 14 14 11 10 12 13 13 11 12
Vietnam 31 22 24 23 25 23 22 22 22
Timor Sea 39 39 40 27 36 24 26 21 24
Libya - 74 71 56 50 45 47 48 47
Other 49 66 64 69 63 62 36 35 43
Equity affiliates
Canada - - - - - 23 28 29 27
Russia 16 15 15 14 15 15 15 15 15
Venezuela 110 106 89 99 101 82 85 - 56
- ------------------------------------------------------------------------ -------------------------------------
Total 556 646 616 602 605 580 516 430 508
======================================================================== =====================================
Sales of crude oil produced (MB/D) 550 642 598 617 602 577 506 423 501
- ------------------------------------------------------------------------ -------------------------------------
Natural Gas Liquids (MB/D)
Norway 11 8 9 8 9 8 5 7 7
United Kingdom 4 4 2 6 4 6 6 4 5
Canada 9 30 28 31 25 31 28 26 29
Timor Sea 20 20 20 15 18 12 14 11 12
Other 2 - 1 1 1 3 3 3 3
- ------------------------------------------------------------------------ -------------------------------------
Total 46 62 60 61 57 60 56 51 56
======================================================================== =====================================
Natural Gas (MMCF/D)
Consolidated
Norway 269 260 260 291 270 247 202 226 225
United Kingdom 851 796 665 734 761 785 668 519 656
Canada 424 1,204 1,154 1,140 983 1,152 1,133 1,069 1,118
China - 10 8 9 7 11 12 13 12
Timor Sea 144 251 300 243 235 243 250 194 229
Indonesia 294 323 342 315 319 331 329 349 336
Vietnam 24 19 20 20 21 15 12 19 15
Libya - - - 17 4 5 9 9 7
Other 121 207 187 237 188 212 190 183 195
Equity affiliates
Canada - - - - - - - - -
Russia - - - - - - - - -
Venezuela 11 10 8 7 9 9 9 - 6
- ------------------------------------------------------------------------ -------------------------------------
Total 2,138 3,080 2,944 3,013 2,797 3,010 2,814 2,581 2,799
======================================================================== =====================================
Canadian Syncrude (MB/D) 16 19 23 26 21 23 21 27 24
- ------------------------------------------------------------------------ -------------------------------------
Darwin, Australia LNG Sales (MMCF/D) 136 305 411 382 310 388 449 347 395
- ------------------------------------------------------------------------ -------------------------------------
Page 7 of 12
- ---------------------------------------------------------------------------------------------------------------
ConocoPhillips INTERNATIONAL E&P (continued)
2006 2007
------------------------------------ -------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
------------------------------------ -------------------------------------
Average Realized Prices
Crude Oil and Condensate ($/bbl)
Consolidated
Norway 61.36 68.64 68.48 60.07 64.61 57.36 67.50 75.54 66.41
United Kingdom 59.13 65.32 64.67 58.71 62.08 55.52 66.99 72.98 64.27
Canada 44.28 60.86 61.00 49.28 54.25 48.70 58.42 67.75 57.74
China 57.90 66.68 64.68 51.06 60.00 54.93 66.39 71.79 63.71
Indonesia 57.94 58.15 62.69 52.21 57.80 54.66 65.46 72.46 64.32
Vietnam 62.34 68.53 71.35 56.77 64.75 57.88 67.03 75.14 66.36
Timor Sea 60.37 66.98 66.84 57.27 63.21 59.15 73.51 71.20 67.96
Libya - 68.07 67.75 58.19 65.11 56.19 67.39 73.88 65.85
Other 62.95 69.20 70.39 60.92 65.85 55.73 67.71 74.48 63.64
Equity affiliates
Canada - - - - - 32.46 32.46 38.48 34.83
Russia 40.86 46.87 48.29 36.86 43.20 37.92 50.25 55.84 48.90
Venezuela 43.71 53.03 46.78 42.48 46.40 42.54 51.54 - 47.46
Total 55.92 64.50 63.73 55.00 59.92 53.12 62.02 70.75 61.13
- ------------------------------------------------------------------------ -------------------------------------
Natural Gas Liquids ($/bbl)
Norway 42.55 40.99 43.91 39.46 41.61 38.82 45.72 46.77 43.34
United Kingdom 35.39 34.87 38.51 22.38 31.29 34.93 39.34 36.91 36.92
Canada 46.21 46.73 46.16 43.87 45.62 41.15 46.82 51.77 46.33
Timor Sea 46.68 41.35 45.63 41.62 43.95 44.13 49.43 48.71 47.24
Other 8.11 8.09 8.11 8.25 8.15 8.32 29.42 34.00 23.74
Total 43.25 43.28 44.89 40.25 42.89 39.38 45.64 48.63 44.21
- ------------------------------------------------------------------------ -------------------------------------
Natural Gas ($/mcf)
Consolidated
Norway 7.28 7.09 7.48 8.58 7.61 7.00 7.10 7.51 7.19
United Kingdom 8.81 6.84 7.08 8.52 7.85 8.14 7.23 6.69 7.45
Canada 6.28 5.47 5.43 5.91 5.67 6.38 6.60 5.13 6.05
China - 1.90 4.11 2.80 2.87 2.64 2.74 2.78 2.73
Timor Sea 0.67 0.65 0.69 0.74 0.69 0.76 0.68 0.66 0.70
Indonesia 7.45 7.53 6.71 5.78 6.86 6.04 6.99 7.78 6.96
Vietnam 1.07 1.07 1.07 1.05 1.06 1.10 1.09 1.12 1.10
Libya - - - 0.09 0.09 0.07 0.09 0.09 0.09
Other 0.82 2.57 2.04 2.02 1.98 2.71 2.53 2.41 2.55
Equity affiliates
Canada - - - - - - - - -
Russia - - - - - - - - -
Venezuela 0.23 0.36 0.32 0.32 0.30 0.29 0.30 - 0.30
Total 7.13 5.90 5.85 6.36 6.25 6.47 6.40 5.75 6.22
- ------------------------------------------------------------------------ -------------------------------------
International Exploration Charges
($ Millions)
Dry Holes 11 12 10 75 108 49 38 4 91
Lease Impairments 11 18 24 22 75 43 16 8 67
- ------------------------------------------------------------------------ -------------------------------------
Total Non-Cash Charges 22 30 34 97 183 92 54 12 158
Other (G&G and Lease Rentals) 60 85 76 126 347 88 86 87 261
- ------------------------------------------------------------------------ -------------------------------------
Total International Exploration
Charges 82 115 110 223 530 180 140 99 419
======================================================================== =====================================
DD&A ($ Millions) 527 890 939 929 3,285 1,016 962 996 2,974
- ------------------------------------------------------------------------ -------------------------------------
Page 8 of 12
- --------------------------------------------------------------------------------------------------------------------
ConocoPhillips R&M
2006 2007
---------------------------------------- ---------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
---------------------------------------- ---------------------------------------
R&M Net Income ($ Millions) 390 1,708 1,464 919 4,481 1,136 2,358 1,307 4,801
========================================================================= =======================================
United States ($ Millions) 297 1,433 1,444 741 3,915 896 1,879 873 3,648
------------------------------------------------------------------------- ---------------------------------------
International ($ Millions) 93 275 20 178 566 240 479 434 1,153
------------------------------------------------------------------------- ---------------------------------------
Market Indicators
U.S. East Coast Crack
Spread ($/bbl) 7.52 15.21 10.54 7.86 10.28 11.81 22.57 11.73 15.37
U.S. Gulf Coast Crack
Spread ($/bbl) 8.28 17.26 11.00 6.77 10.83 10.06 24.28 11.74 15.36
U.S. Group Central
Crack Spread ($/bbl) 9.81 19.60 17.75 10.11 14.32 14.84 31.26 20.92 22.34
U.S. West Coast
Crack Spread ($/bbl) 18.87 32.47 21.70 20.36 23.35 28.68 34.32 16.22 26.40
U.S. Weighted 3:2:1
Crack Spread ($/bbl) 10.56 20.39 14.86 10.49 14.07 15.30 27.56 14.74 19.20
NW Europe Crack Spread ($/bbl) 10.18 15.20 14.18 11.46 12.75 12.06 15.56 13.37 13.66
Singapore 3:1:2
Crack Spread ($/bbl) 10.58 19.30 15.13 11.03 14.01 14.06 17.94 14.80 15.60
U.S. Wholesale Gasoline
Mktg Mrgn ($/bbl) 0.71 1.83 5.75 1.81 2.52 1.15 2.09 0.65 1.30
------------------------------------------------------------------------- ---------------------------------------
Realized Margins
Refining Margin ($/bbl)
U.S. 10.18 17.23 14.10 11.39 13.29 11.87 19.59 10.86 14.04
International 5.30 7.64 6.46 6.22 6.50 5.06 9.68 6.05 6.99
------------------------------------------------------------------------- ---------------------------------------
Marketing Margin ($/bbl)*
U.S. 0.12 0.48 2.92 1.34 1.23 1.31 2.36 2.20 1.96
International 6.07 6.67 11.17 9.50 8.38 7.08 7.68 9.49 7.99
------------------------------------------------------------------------- ---------------------------------------
DD&A ($ Millions) 239 253 246 266 1,004 191 196 194 581
------------------------------------------------------------------------- ---------------------------------------
Turnaround Expense ($ Millions) 163 115 42 94 414 75 58 27 160
------------------------------------------------------------------------- ---------------------------------------
Eastern U.S.
Crude Oil Charge Input (MB/D) 354 281 377 411 356 411 404 383 399
Total Charge Input (MB/D) 359 309 418 457 386 460 447 414 440
Crude Oil Capacity
Utilization (%) 84% 66% 89% 97% 84% 97% 96% 91% 94%
Clean Product Yield (%) 90% 87% 88% 90% 89% 89% 86% 86% 87%
------------------------------------------------------------------------- ---------------------------------------
U.S. Gulf Coast
Crude Oil Charge Input (MB/D) 529 681 730 737 670 744 709 736 729
Total Charge Input (MB/D) 587 777 822 812 750 823 790 829 814
Crude Oil Capacity
Utilization (%) 72% 93% 100% 101% 91% 102% 97% 100% 100%
Clean Product Yield (%) 74% 81% 83% 80% 80% 81% 81% 80% 80%
------------------------------------------------------------------------- ---------------------------------------
Western U.S.
Crude Oil Charge Input (MB/D) 386 419 420 397 406 333 388 415 379
Total Charge Input (MB/D) 419 443 446 426 433 375 420 445 414
Crude Oil Capacity
Utilization (%) 94% 101% 102% 96% 98% 81% 94% 100% 91%
Clean Product Yield (%) 79% 81% 80% 79% 80% 79% 79% 80% 79%
------------------------------------------------------------------------- ---------------------------------------
Central U.S. - Consolidated
Crude Oil Charge Input (MB/D) 571 619 600 583 593 185 170 166 174
Total Charge Input (MB/D) 613 663 638 621 634 188 175 170 178
Crude Oil Capacity
Utilization (%) 89% 97% 94% 91% 93% 99% 91% 89% 93%
Clean Product Yield (%) 84% 86% 85% 85% 85% 88% 93% 88% 90%
------------------------------------------------------------------------- ---------------------------------------
Central U.S. - Equity Affiliates
- Net Share**
Crude Oil Charge Input (MB/D) - - - - - 265 225 280 257
Total Charge Input (MB/D) - - - - - 288 250 301 279
Crude Oil Capacity
Utilization (%) - - - - - 96% 81% 101% 93%
Clean Product Yield (%) - - - - - 82% 85% 83% 83%
------------------------------------------------------------------------- ---------------------------------------
TOTAL UNITED STATES
Crude Oil Charge Input (MB/D) 1,840 2,000 2,127 2,128 2,025 1,938 1,896 1,980 1,938
Total Charge Input (MB/D) 1,978 2,192 2,324 2,316 2,203 2,134 2,082 2,159 2,125
Crude Oil Capacity
Utilization (%) 83% 91% 96% 96% 92% 95% 93% 97% 95%
Clean Product Yield (%) 81% 83% 84% 83% 83% 83% 83% 82% 83%
------------------------------------------------------------------------- ---------------------------------------
Refined Products
Production (MB/D)
Gasoline 890 1,031 1,084 1,061 1,017 962 957 959 959
Distillates 684 764 821 824 774 762 736 779 759
Other 414 403 429 440 422 428 394 439 421
------------------------------------------------------------------------- ---------------------------------------
Total 1,988 2,198 2,334 2,325 2,213 2,152 2,087 2,177 2,139
========================================================================= =======================================
Petroleum Products
Sales (MB/D)
Gasoline 1,258 1,300 1,369 1,416 1,336 1,258 1,300 1,212 1,256
Distillates 813 820 848 921 850 862 827 869 853
Other 517 555 519 535 531 480 503 439 473
------------------------------------------------------------------------- ---------------------------------------
Total 2,588 2,675 2,736 2,872 2,717 2,600 2,630 2,520 2,582
========================================================================= =======================================
* Represents marketing sales price less product costs for all distribution channels other than commercial
product supply.
** Represents a 50 percent and 85 percent interest in the Wood River and Borger refineries, respectively.
These refineries were contributed to a business venture with EnCana, effective January 1, 2007.
Page 9 of 12
- --------------------------------------------------------------------------------------------------------------------
ConocoPhillips R&M (continued)
2006 2007
---------------------------------------- ---------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
---------------------------------------- ---------------------------------------
International - Consolidated*
Crude Oil Charge Input (MB/D) 357 505 474 461 450 503 505 434 481
Total Charge Input (MB/D) 369 550 503 494 479 532 528 455 505
Crude Oil Capacity Utilization (%) 94% 92% 86% 83% 88% 91% 92% 79% 87%
Clean Product Yield (%) 71% 64% 69% 72% 69% 68% 67% 71% 69%
- --------------------------------------------------------------------------- ----------------------------------------
International - Equity Affiliates - Net
Share**
Crude Oil Charge Input (MB/D) 133 144 143 144 141 120 145 140 135
Total Charge Input (MB/D) 137 149 149 147 145 121 146 142 137
Crude Oil Capacity Utilization (%) 94% 102% 102% 102% 100% 83% 101% 104% 96%
Clean Product Yield (%) 82% 82% 81% 80% 81% 77% 79% 81% 79%
- --------------------------------------------------------------------------- ----------------------------------------
TOTAL INTERNATIONAL
Crude Oil Charge Input (MB/D) 490 649 617 605 591 623 650 574 616
Total Charge Input (MB/D) 506 699 652 641 624 653 674 597 642
Crude Oil Capacity Utilization (%) 94% 94% 89% 87% 91% 90% 93% 84% 89%
Clean Product Yield (%) 74% 68% 72% 74% 72% 70% 69% 74% 71%
- --------------------------------------------------------------------------- ----------------------------------------
Refined Products Production (MB/D)
Gasoline 142 165 165 172 161 160 159 160 160
Distillates 228 297 288 291 276 289 302 273 288
Other 130 233 190 170 181 195 203 160 186
- --------------------------------------------------------------------------- ----------------------------------------
Total 500 695 643 633 618 644 664 593 634
=========================================================================== ========================================
Petroleum Products Sales (MB/D)
Gasoline 197 225 204 186 203 176 186 161 174
Distillates 339 397 374 399 377 381 379 328 363
Other 159 249 171 135 179 156 174 140 157
- --------------------------------------------------------------------------- ----------------------------------------
Total 695 871 749 720 759 713 739 629 694
=========================================================================== ========================================
Worldwide - Including Net Share of Equity
Affiliates
Crude Oil Charge Input (MB/D) 2,330 2,649 2,744 2,733 2,616 2,561 2,546 2,554 2,554
Total Charge Input (MB/D) 2,484 2,891 2,976 2,957 2,827 2,787 2,756 2,756 2,767
Crude Oil Capacity Utilization (%) 85% 91% 95% 94% 92% 94% 93% 94% 94%
Clean Product Yield (%) 79% 80% 81% 81% 80% 80% 80% 80% 80%
- --------------------------------------------------------------------------- ----------------------------------------
Refined Products Production (MB/D)
Gasoline 1,032 1,196 1,249 1,233 1,178 1,122 1,116 1,119 1,119
Distillates 912 1,061 1,109 1,115 1,050 1,051 1,038 1,052 1,047
Other 544 636 619 610 603 623 597 599 607
- --------------------------------------------------------------------------- ----------------------------------------
Total 2,488 2,893 2,977 2,958 2,831 2,796 2,751 2,770 2,773
=========================================================================== ========================================
Petroleum Products Sales (MB/D)
Gasoline 1,455 1,525 1,573 1,602 1,539 1,434 1,486 1,373 1,430
Distillates 1,152 1,217 1,222 1,320 1,227 1,243 1,206 1,197 1,216
Other 676 804 690 670 710 636 677 579 630
- --------------------------------------------------------------------------- ----------------------------------------
Total 3,283 3,546 3,485 3,592 3,476 3,313 3,369 3,149 3,276
=========================================================================== ========================================
* Represents our Humber refinery in the United Kingdom, the Whitegate refinery in Ireland, and, effective March 1,
2006, our Wilhelmshaven refinery in Germany.
** Represents 18.75 percent interest in a refinery complex in Karlsruhe, Germany, and 47 percent interest in a
refinery in Melaka, Malaysia. Through August 31, 2007, represents a 16.33 percent interest in two refineries in
Kralupy and Litvinov, Czech Republic. We sold our interest in the two Czech refineries effective September 1, 2007.
Page 10 of 12
- ---------------------------------------------------------------------------------------------------------------------
ConocoPhillips LUKOIL INVESTMENT
2006 2007
----------------------------------------- -------------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
----------------------------------------- -------------------------------------------
LUKOIL Investment
Net Income ($ Millions) 249 387 487 302 1,425 256 526 387 1,169
======================================================================= ===========================================
Upstream
Production*
Net crude oil production (MB/D) 306 346 388 397 360 393 427 390 404
Net natural gas production
(MMCF/D) 98 343 288 247 244 309 278 249 278
BOE Total (MBOE/D) 322 403 436 438 401 445 473 432 450
----------------------------------------------------------------------- -------------------------------------------
* Represents our estimated net share of LUKOIL's production.
Industry Prices
Crude Oil ($/bbl)
Urals crude (CIF
Mediterranean) 58.25 64.85 65.81 56.48 61.35 53.96 65.30 72.21 64.02
----------------------------------------------------------------------- -------------------------------------------
Downstream
Refinery Throughput*
Crude Processed (MB/D) 163 168 164 220 179 219 184 226 210
----------------------------------------------------------------------- -------------------------------------------
* Represents our estimated net share of LUKOIL's crude processed.
MIDSTREAM
2006 2007
----------------------------------------- -------------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
----------------------------------------- -------------------------------------------
Midstream Net Income
($ Millions) 110 108 169 89 476 85 102 104 291
======================================================================= ===========================================
U.S. Equity Affiliate
($ Millions)* 93 91 128 73 385 50 76 90 216
----------------------------------------------------------------------- -------------------------------------------
Natural Gas Liquids Extracted
(MB/D)
Consolidated
United States 23 22 23 21 22 15 23 26 21
International - - - - - - - - -
Equity
Affiliates
United States* 178 183 180 181 181 174 181 182 179
International 6 6 7 7 6 8 7 8 8
----------------------------------------------------------------------- -------------------------------------------
Total 207 211 210 209 209 197 211 216 208
======================================================================= ===========================================
* Represents 50 percent interest in DCP
Midstream.
Natural Gas Liquids Fractionated
(MB/D)
United States* 141 125 124 136 131 161 163 155 160
International 11 14 14 12 13 13 13 13 13
----------------------------------------------------------------------- -------------------------------------------
Total 152 139 138 148 144 174 176 168 173
======================================================================= ===========================================
* Excludes DCP Midstream.
Product Prices
Weighted Average NGL ($/bbl)*
Consolidated 37.64 41.73 44.10 37.41 40.22 37.73 45.19 48.62 43.85
DCP Midstream 37.29 41.18 43.00 36.34 39.45 36.55 44.30 47.73 42.86
----------------------------------------------------------------------- -------------------------------------------
* Prices are based on index prices from the Mont Belvieu and Conway market hubs that are weighted by natural gas
liquids component and location mix.
DD&A ($ Millions) 7 8 7 7 29 4 3 4 11
----------------------------------------------------------------------- -------------------------------------------
Page 11 of 12
- ----------------------------------------------------------------------------------------------------------------------------------
ConocoPhillips
CHEMICALS
2006 2007
-------------------------------------------- -------------------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
-------------------------------------------- -------------------------------------------------
Chemicals
Net Income (Loss)
($ Millions) 149 103 142 98 492 82 68 110 260
========================================================================== =================================================
Industry Margins (Cents/Lb)*
Ethylene industry cash margin 20.5 14.3 17.0 16.0 17.0 11.1 10.8 11.5 11.1
HDPE industry contract sales
margin 15.9 14.0 13.9 11.9 13.9 13.5 14.6 14.8 14.3
Styrene industry contract sales
margin 12.5 11.9 11.3 11.5 11.8 11.1 11.6 11.5 11.4
-------------------------------------------------------------------------- -------------------------------------------------
* Prices, economics and views expressed by CMAI are strictly the opinion of CMAI and Purvin & Gertz and are based on information
collected within the public sector and on
assessments by CMAI and Purvin & Gertz staff utilizing reasonable care consistent with normal industry practice. CMAI and Purvin
& Gertz make no guarantee or warranty
and assume no liability as to their
use.
EMERGING BUSINESSES
2006 2007
-------------------------------------------- -------------------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
-------------------------------------------- -------------------------------------------------
Emerging Businesses
Net Income (Loss)
($ Millions) 8 (12) 11 8 15 (1) (12) 3 (10)
======================================= ======== ======== ======== ======== ======== ======== ======== ======= ==============
Detail of Net Income (Loss)
($ Millions)
Power 31 3 26 22 82 13 (1) 21 33
Other (23) (15) (15) (14) (67) (14) (11) (18) (43)
-------------------------------------------------------------------------- -------------------------------------------------
Total 8 (12) 11 8 15 (1) (12) 3 (10)
========================================================================== =================================================
CORPORATE AND OTHER
2006 2007
-------------------------------------------- -------------------------------------------------
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
-------------------------------------------- -------------------------------------------------
Corporate and Other
Net Income (Loss)
($ Millions) (168) (412) (301) (306) (1,187) (341) (337) (320) (998)
========================================================================== =================================================
Detail of Net Income (Loss)
($ Millions)
Net interest expense (93) (267) (242) (268) (870) (244) (224) (195) (663)
Corporate overhead (26) (39) (35) (33) (133) (23) (54) (49) (126)
Acquisition-related expenses (5) (39) (32) (22) (98) (13) (16) (11) (40)
Other (44) (67) 8 17 (86) (61) (43) (65) (169)
-------------------------------------------------------------------------- -------------------------------------------------
Total (168) (412) (301) (306) (1,187) (341) (337) (320) (998)
========================================================================== =================================================
Before-Tax Net Interest Expense
($ Millions)
Interest expense (226) (468) (417) (434) (1,545) (395) (411) (485) (1,291)
Capitalized
interest 111 107 110 130 458 135 139 141 415
Interest revenue 30 35 38 2 105 31 24 153 208
Premium on early debt
retirement - - - - - (17) - - (17)
-------------------------------------------------------------------------- -------------------------------------------------
(85) (326) (269) (302) (982) (246) (248) (191) (685)
========================================================================== =================================================
Debt
Total Debt ($ Millions) 32,193 29,510 27,807 27,134 27,134 23,668 22,812 21,876 21,876
Debt-to-Capital Ratio 30% 27% 25% 24% 24% 22% 21% 20% 20%
-------------------------------------------------------------------------- -------------------------------------------------
Page 12 of 12