EX-99 5 a4386910ex993.txt EXHIBIT 99.3 Exhibit 99.3
SUMMARY OF NET INCOME (LOSS) BY SEGMENT Millions of Dollars ---------------------------------------------------------------------------- 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- Income from Continuing Operations Before Accounting Change U.S. E&P 155 280 306 415 1,156 676 676 International E&P (13) 59 154 393 593 461 461 ------------------------------------------------------------------------------------------------------------------------- Total E&P 142 339 460 808 1,749 1,137 1,137 ------------------------------------------------------------------------------------------------------------------------- Midstream 12 12 11 20 55 31 31 ------------------------------------------------------------------------------------------------------------------------- U.S. R&M (92) 73 44 113 138 257 257 International R&M 5 (5) 13 (8) 5 114 114 ------------------------------------------------------------------------------------------------------------------------- Total R&M (87) 68 57 105 143 371 371 ------------------------------------------------------------------------------------------------------------------------- Chemicals (11) 7 3 (13) (14) (23) (23) Emerging Businesses (5) (3) (262) (40) (310) (34) (34) Corporate and Other (149) (111) (343) (322) (925) (212) (212) ------------------------------------------------------------------------------------------------------------------------- Consolidated (98) 312 (74) 558 698 1,270 1,270 ========================================================================================================================= Cumulative Effect of Accounting Change U.S. E&P - - - - - 161 161 International E&P - - - - - (15) (15) ------------------------------------------------------------------------------------------------------------------------- Total E&P - - - - - 146 146 ------------------------------------------------------------------------------------------------------------------------- Midstream - - - - - - - ------------------------------------------------------------------------------------------------------------------------- U.S. R&M - - - - - (1) (1) International R&M - - - - - - - ------------------------------------------------------------------------------------------------------------------------- Total R&M - - - - - (1) (1) ------------------------------------------------------------------------------------------------------------------------- Chemicals - - - - - - - Emerging Businesses - - - - - - - Corporate and Other - - - - - - - ------------------------------------------------------------------------------------------------------------------------- Consolidated - - - - - 145 145 ========================================================================================================================= Income (Loss) from Discontinued Operations Corporate and Other (4) 39 (42) (986) (993) 22 22 ========================================================================================================================= Net Income (Loss) U.S. E&P 155 280 306 415 1,156 837 837 International E&P (13) 59 154 393 593 446 446 ------------------------------------------------------------------------------------------------------------------------- Total E&P 142 339 460 808 1,749 1,283 1,283 ------------------------------------------------------------------------------------------------------------------------- Midstream 12 12 11 20 55 31 31 ------------------------------------------------------------------------------------------------------------------------- U.S. R&M (92) 73 44 113 138 256 256 International R&M 5 (5) 13 (8) 5 114 114 ------------------------------------------------------------------------------------------------------------------------- Total R&M (87) 68 57 105 143 370 370 ------------------------------------------------------------------------------------------------------------------------- Chemicals (11) 7 3 (13) (14) (23) (23) Emerging Businesses (5) (3) (262) (40) (310) (34) (34) Corporate and Other (153) (72) (385) (1,308)(1,918) (190) (190) ------------------------------------------------------------------------------------------------------------------------- Consolidated (102) 351 (116) (428) (295) 1,437 1,437 ========================================================================================================================= Page 1 of 14
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES Millions of Dollars ---------------------------------------------------------------------------- 2002 2003 ---------------------------------------------------------------------------- 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 223 419 450 536 1,628 1,048 1,048 International E&P 167 260 555 949 1,931 1,280 1,280 ------------------------------------------------------------------------------------------------------------------------- Total E&P 390 679 1,005 1,485 3,559 2,328 2,328 ------------------------------------------------------------------------------------------------------------------------- Midstream 20 20 23 35 98 51 51 ------------------------------------------------------------------------------------------------------------------------- U.S. R&M (140) 118 75 175 228 411 411 International R&M 5 (5) 19 (25) (6) 150 150 ------------------------------------------------------------------------------------------------------------------------- Total R&M (135) 113 94 150 222 561 561 ------------------------------------------------------------------------------------------------------------------------- Chemicals (18) 3 (1) (16) (32) (44) (44) Emerging Businesses (8) (5) (274) (62) (349) (51) (51) Corporate and Other (198) (153) (535) (471)(1,357) (280) (280) ------------------------------------------------------------------------------------------------------------------------- Consolidated 51 657 312 1,121 2,141 2,565 2,565 ========================================================================================================================= Income from Continuing Operations Effective Tax Rates U.S. E&P 30.5% 33.2% 32.0% 22.6% 29.0% 35.5% 35.5% International E&P 107.8% 77.3% 72.3% 58.6% 69.3% 64.0% 64.0% ------------------------------------------------------------------------------------------------------------------------- Total E&P 63.6% 50.1% 54.2% 45.6% 50.9% 51.2% 51.2% ------------------------------------------------------------------------------------------------------------------------- Midstream 40.0% 40.0% 52.2% 42.9% 43.9% 39.2% 39.2% ------------------------------------------------------------------------------------------------------------------------- U.S. R&M 34.3% 38.1% 41.3% 35.4% 39.5% 37.5% 37.5% International R&M 0.0% 0.0% 31.6% 68.0% 183.3% 24.0% 24.0% ------------------------------------------------------------------------------------------------------------------------- Total R&M 35.6% 39.8% 39.4% 30.0% 35.6% 33.9% 33.9% ------------------------------------------------------------------------------------------------------------------------- Chemicals 38.9% -133.3% 400.0% 18.8% 56.3% 47.7% 47.7% Emerging Businesses 37.5% 40.0% 4.4% 35.5% 11.2% 33.3% 33.3% Corporate and Other 24.7% 27.5% 35.9% 31.6% 31.8% 24.3% 24.3% ------------------------------------------------------------------------------------------------------------------------- Consolidated 292.2% 52.5% 123.7% 50.2% 67.4% 50.5% 50.5% ========================================================================================================================= Page 2 of 14
CERTAIN ITEMS AFFECTING NET INCOME (AFTER-TAX) Millions of Dollars ---------------------------------------------------------------------------- 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- U.S. E&P Asset sales - - (5) - (5) 2 2 Property impairments - (3) (5) - (8) - - Dry hole charges (9) (2) (1) (38) (50) (10) (10) ------------------------------------------------------------------------------------------------------------------------- Total (9) (5) (11) (38) (63) (8) (8) ------------------------------------------------------------------------------------------------------------------------- International E&P Asset sales - - - 17 17 (1) (1) Property impairments (7) (2) - (14) (23) (11) (11) Foreign currency transaction gains (losses) 2 (7) (6) (23) (34) 10 10 Dry hole charges (2) (7) (1) (48) (58) (2) (2) ------------------------------------------------------------------------------------------------------------------------- Total (7) (16) (7) (68) (98) (4) (4) ------------------------------------------------------------------------------------------------------------------------- Total E&P (16) (21) (18) (106) (161) (12) (12) ------------------------------------------------------------------------------------------------------------------------- Midstream Asset sales - - - - - - - Property impairments - - - - - - - ------------------------------------------------------------------------------------------------------------------------- Total - - - - - - - ------------------------------------------------------------------------------------------------------------------------- U.S. R&M Asset sales - - - - - 1 1 Impairments and loss accruals - - - (88) (88) (25) (25) Mainentance turnaround expense (46) (19) (29) (16) (110) (39) (39) ------------------------------------------------------------------------------------------------------------------------- Total (46) (19) (29) (104) (198) (63) (63) ------------------------------------------------------------------------------------------------------------------------- International R&M Asset sales - - - - - - - Mainentance turnaround expense - - - (1) (1) (1) (1) Foreign currency transaction gains (losses) 3 2 3 1 9 1 1 Impairments - - - - - - - ------------------------------------------------------------------------------------------------------------------------- Total 3 2 3 - 8 - - ------------------------------------------------------------------------------------------------------------------------- Total R&M (43) (17) (26) (104) (190) (63) (63) ------------------------------------------------------------------------------------------------------------------------- Chemicals - - - - - - - ------------------------------------------------------------------------------------------------------------------------- Total - - - - - - - ------------------------------------------------------------------------------------------------------------------------- Emerging Businesses Asset sales - - - - - - - Foreign currency transaction gains (losses) - - - - - (1) (1) ------------------------------------------------------------------------------------------------------------------------- Total - - - - - (1) (1) ------------------------------------------------------------------------------------------------------------------------- Corporate and Other Discontinued operations Impairments and loss accruals - - (69) (1,008)(1,077) (25) (25) Operating results (4) 39 27 22 84 47 47 Asset sales - - - - - - - Foreign currency transaction gains (losses) (4) 12 5 8 21 1 1 Merger-related expenses (2) (1) (221) (83) (307) (27) (27) Premium on early debt retirement - (15) - (1) (16) (10) (10) ------------------------------------------------------------------------------------------------------------------------- Total (10) 35 (258) (1,062)(1,295) (14) (14) ------------------------------------------------------------------------------------------------------------------------- The above financial information represents certain items of a recurring nature that are included in the reporting segments' net income. These items often result in variability in the company's revenues or expenses. Non-recurring items that may affect comparability between periods, such as the company's write-off of in-process research and development costs of $246 million in the third quarter of 2002, are not included above. Page 3 of 14
CASH FLOW INFORMATION Millions of Dollars ---------------------------------------------------------------------------- 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- DD&A (including property impairments) included in net cash provided by operating activities 406 402 557 1,035 2,400 877 877 ========================================================================================================================= Net Cash Provided by Operating Activities 579 530 1,878 1,982 4,969 3,179 3,179 ------------------------------------------------------------------------------------------------------------------------- Cash Flows from Investing Activities Capital expenditures and investments: E&P (517) (701) (715) (1,343)(3,276)(1,012) (1,012) Midstream - - (2) (3) (5) (2) (2) R&M (104) (130) (191) (415) (840) (203) (203) Chemicals (10) (9) (10) (31) (60) - - Emerging Businesses - - (35) (87) (122) (66) (66) Corporate and Other (14) (34) (7) (30) (85) (26) (26) ------------------------------------------------------------------------------------------------------------------------- Total capital expend. & investments (645) (874) (960) (1,909)(4,388)(1,309) (1,309) Acquisitions, net of cash acquired - - 1,242 (62) 1,180 - - Proceeds from asset dispositions 45 36 19 715 815 121 121 Long-term advances to affiliates and other investments (12) 14 (83) (11) (92) (28) (28) Discontinued operations (12) (12) (23) (52) (99) (17) (17) ------------------------------------------------------------------------------------------------------------------------- Net Cash Used for Investing Activities (624) (836) 195 (1,319)(2,584)(1,233) (1,233) ------------------------------------------------------------------------------------------------------------------------- Cash Flows from Financing Activities Net issuance (repayment) of debt 204 725 (1,432) (587)(1,090)(1,556) (1,556) Redemption of preferred stock - (300) - - (300) - - Dividends (138) (137) (138) (271) (684) (271) (271) Other 7 (7) (131) (15) (146) (3) (3) ------------------------------------------------------------------------------------------------------------------------- Net Cash Provided by (Used for) Financing Activities 73 281 (1,701) (873)(2,220)(1,830) (1,830) ------------------------------------------------------------------------------------------------------------------------- Net Change in Cash and Cash Equivalents 28 (25) 372 (210) 165 116 116 Cash and cash equivalents at beginning of period 142 170 145 517 142 307 307 ------------------------------------------------------------------------------------------------------------------------- Cash and Cash Equivalents at End of Period 170 145 517 307 307 423 423 ========================================================================================================================= Page 4 of 14
TOTAL E&P 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- E&P Net Income ($ Millions) 142 339 460 808 1,749 1,283 1,283 ========================================================================================================================= Production Total, Including Equity Affiliates and Canadian Syncrude (MBOE/D) 833 798 1,046 1,623 1,077 1,622 1,622 ------------------------------------------------------------------------------------------------------------------------- Crude Oil and Condensate (MB/D) Consolidated 566 546 620 854 647 880 880 Equity affiliates 5 4 44 87 35 55 55 ------------------------------------------------------------------------------------------------------------------------- Total 571 550 664 941 682 935 935 ========================================================================================================================= Sales of crude oil produced (MB/D) 566 557 664 918 677 911 911 ------------------------------------------------------------------------------------------------------------------------- Natural Gas Liquids (MB/D) 37 34 43 70 46 67 67 ------------------------------------------------------------------------------------------------------------------------- Natural Gas (MMCF/D) Consolidated 1,349 1,286 1,982 3,529 2,043 3,605 3,605 Equity affiliates - - 4 13 4 12 12 ------------------------------------------------------------------------------------------------------------------------- Total 1,349 1,286 1,986 3,542 2,047 3,617 3,617 ========================================================================================================================= Canadian Syncrude (MB/D) - - 8 22 8 17 17 ------------------------------------------------------------------------------------------------------------------------- Industry Prices (Platt's) Crude Oil ($/bbl) WTI spot 21.56 26.27 28.31 28.20 26.09 34.06 34.06 Brent dated 21.14 25.04 26.94 26.78 24.98 31.51 31.51 Natural Gas--Henry Hub 1st of month ($/mcf) 2.34 3.38 3.16 3.97 3.21 6.58 6.58 ------------------------------------------------------------------------------------------------------------------------- Average Realized Prices Crude Oil and Condensate ($/bbl) Consolidated 19.41 24.46 26.38 26.12 24.38 31.26 31.26 Equity affiliates 15.86 21.06 20.29 17.50 18.41 20.97 20.97 Total 19.37 24.44 25.97 25.31 24.07 30.72 30.72 ------------------------------------------------------------------------------------------------------------------------- Natural Gas Liquids ($/bbl) 16.00 20.36 19.42 19.32 18.93 24.73 24.73 ------------------------------------------------------------------------------------------------------------------------- Natural Gas ($/mcf) Consolidated 2.15 2.40 2.49 3.27 2.77 4.49 4.49 Equity affiliates - - 1.78 3.00 2.71 4.82 4.82 Total 2.15 2.40 2.49 3.27 2.77 4.49 4.49 ------------------------------------------------------------------------------------------------------------------------- Exploration Charges ($ Millions) Dry Holes 16 17 4 124 161 20 20 Lease Impairments 93 16 15 22 146 20 20 ------------------------------------------------------------------------------------------------------------------------- Total Non-Cash Charges 109 33 19 146 307 40 40 Other (G&G and Lease Rentals) 54 34 66 131 285 76 76 ------------------------------------------------------------------------------------------------------------------------- Total Exploration Charges 163 67 85 277 592 116 116 ========================================================================================================================= Depreciation, Depletion & Amortization Producing operations ($ millions) 274 278 398 666 1,616 657 657 ------------------------------------------------------------------------------------------------------------------------- Page 5 of 14
U.S. E&P 2002 2003 ---------------------------------------------------------------------------- 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) 155 280 306 415 1,156 837 837 ========================================================================================================================= Alaska ($ Millions) 123 223 246 278 870 525 525 ------------------------------------------------------------------------------------------------------------------------- Lower 48 ($ Millions) 32 57 60 137 286 312 312 ------------------------------------------------------------------------------------------------------------------------- Production Total U.S. (MBOE/D) 564 538 562 684 587 696 696 ------------------------------------------------------------------------------------------------------------------------- Crude Oil and Condensate (MB/D) Alaska 353 339 310 323 331 337 337 Lower 48 33 31 38 58 40 60 60 ------------------------------------------------------------------------------------------------------------------------- Total 386 370 348 381 371 397 397 ========================================================================================================================= Sales of crude oil produced (MB/D) 383 374 360 370 372 391 391 ------------------------------------------------------------------------------------------------------------------------- Natural Gas Liquids (MB/D)* Alaska 27 25 21 24 24 25 25 Lower 48 1 1 9 21 8 19 19 ------------------------------------------------------------------------------------------------------------------------- Total 28 26 30 45 32 44 44 ========================================================================================================================= *Includes reinjection volumes sold lease-to- lease: 15 14 13 15 14 15 15 ------------------------------------------------------------------------------------------------------------------------- Natural Gas (MMCF/D) Alaska 168 160 183 186 175 189 189 Lower 48 734 689 922 1,362 928 1,338 1,338 ------------------------------------------------------------------------------------------------------------------------- Total 902 849 1,105 1,548 1,103 1,527 1,527 ========================================================================================================================= Average Realized Prices Crude Oil and Condensate ($/bbl) Alaska North Slope 13.58 18.96 20.42 21.10 18.42 25.95 25.95 ------------------------------------------------------------------------------------------------------------------------- West Coast 18.72 24.40 25.83 26.43 23.75 31.47 31.47 ------------------------------------------------------------------------------------------------------------------------- Lower 48 18.86 24.53 26.87 26.00 24.48 31.48 31.48 ------------------------------------------------------------------------------------------------------------------------- Total U.S. 18.73 24.41 25.94 26.36 23.83 31.47 31.47 ------------------------------------------------------------------------------------------------------------------------- . Natural Gas Liquids ($/bbl) Alaska 18.67 24.40 25.68 26.48 23.48 31.32 31.32 ------------------------------------------------------------------------------------------------------------------------- Lower 48 12.75 16.74 14.62 16.17 15.66 21.91 21.91 ------------------------------------------------------------------------------------------------------------------------- Total U.S. 18.13 23.61 20.17 19.27 20.00 25.13 25.13 ------------------------------------------------------------------------------------------------------------------------- Natural Gas ($/mcf) Alaska 2.13 1.80 1.58 1.95 1.85 1.97 1.97 ------------------------------------------------------------------------------------------------------------------------- Lower 48 1.99 2.56 2.65 3.43 2.79 5.47 5.47 ------------------------------------------------------------------------------------------------------------------------- Total U.S. 1.99 2.51 2.60 3.38 2.75 5.34 5.34 ------------------------------------------------------------------------------------------------------------------------- Kenai, Alaska LNG Sales Volume (MMCF/D) 117 114 128 128 122 130 130 ------------------------------------------------------------------------------------------------------------------------- Sales price per MCF 4.00 3.74 4.21 4.30 4.07 4.38 4.38 ------------------------------------------------------------------------------------------------------------------------- U.S. Exploration Charges ($ Millions) Dry Holes 14 3 1 61 79 16 16 Lease Impairments 13 12 10 14 49 13 13 ------------------------------------------------------------------------------------------------------------------------- Total Non-Cash Charges 27 15 11 75 128 29 29 Other (G&G and Lease Rentals) 17 10 20 39 86 28 28 ------------------------------------------------------------------------------------------------------------------------- Total U.S. Exploration Charges 44 25 31 114 214 57 57 ========================================================================================================================= Alaska Only 27 12 11 45 95 25 25 ------------------------------------------------------------------------------------------------------------------------- Depreciation, Depletion & Amortization Producing operations ($ millions) Alaska 156 157 136 140 589 110 110 Lower 48 54 48 93 149 344 148 148 ------------------------------------------------------------------------------------------------------------------------- Total U.S. 210 205 229 289 933 258 258 ========================================================================================================================= Page 6 of 14
INTERNATIONAL E&P 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- International E&P Net Income (Loss) ($ Millions) (13) 59 154 393 593 446 446 ========================================================================================================================= Production Total, Including Equity Affiliates and Canadian Syncrude (MBOE/D) 269 260 484 939 490 926 926 ------------------------------------------------------------------------------------------------------------------------- Crude Oil and Condensate (MB/D) Consolidated Norway 118 119 156 233 157 226 226 United Kingdom 17 18 35 86 39 87 87 Canada 1 1 14 37 13 33 33 Nigeria 27 23 29 38 29 38 38 China 13 11 12 11 12 23 23 Other 4 4 26 68 26 76 76 Equity affiliates 5 4 44 87 35 55 55 ------------------------------------------------------------------------------------------------------------------------- Total 185 180 316 560 311 538 538 ========================================================================================================================= Sales of crude oil produced (MB/D) 183 183 304 548 306 520 520 ------------------------------------------------------------------------------------------------------------------------- Natural Gas Liquids (MB/D) Norway 5 4 6 7 6 8 8 Canada - - 3 14 4 11 11 Other 4 3 4 4 4 4 4 ------------------------------------------------------------------------------------------------------------------------- Total 9 7 13 25 14 23 23 ========================================================================================================================= Natural Gas (MMCF/D) Consolidated Norway 135 131 183 232 171 305 305 United Kingdom 173 189 349 975 424 1,002 1,002 Canada 19 22 172 442 165 436 436 Indonesia - - 68 220 72 224 224 Other 120 95 105 112 108 111 111 Equity affiliates - - 4 13 4 12 12 ------------------------------------------------------------------------------------------------------------------------- Total 447 437 881 1,994 944 2,090 2,090 ========================================================================================================================= Canadian Syncrude (MB/D) - - 8 22 8 17 17 ------------------------------------------------------------------------------------------------------------------------- Average Realized Prices Crude Oil and Condensate ($/bbl) Consolidated Norway 21.04 24.49 27.19 26.35 25.21 32.72 32.72 United Kingdom 21.21 24.14 26.88 25.98 25.33 30.11 30.11 Canada 20.03 24.85 27.20 21.26 22.87 28.40 28.40 Nigeria 21.14 24.95 27.51 26.97 25.37 31.80 31.80 China 19.57 25.27 26.31 29.64 25.03 28.87 28.87 Other 15.00 25.18 25.52 25.87 25.43 29.17 29.17 Equity affiliates 15.86 21.06 20.29 17.50 18.41 20.97 20.97 Total 20.71 24.51 26.01 24.60 24.36 30.16 30.16 ------------------------------------------------------------------------------------------------------------------------- Natural Gas Liquids ($/bbl) Norway 12.88 15.48 15.64 20.69 16.51 21.85 21.85 Canada - - 29.12 18.42 20.39 26.11 26.11 Other 12.58 13.29 13.74 20.51 15.29 23.40 23.40 Total 12.76 14.58 18.42 19.39 17.47 24.22 24.22 ------------------------------------------------------------------------------------------------------------------------- Natural Gas ($/mcf) Consolidated Norway 3.22 3.02 3.16 3.33 3.20 3.66 3.66 United Kingdom 3.18 2.55 2.22 3.20 2.92 3.55 3.55 Canada 2.23 2.21 2.32 3.37 3.03 5.42 5.42 Indonesia - - 4.18 4.11 4.12 4.66 4.66 Other 0.41 0.39 0.41 0.45 0.42 0.48 0.48 Equity affiliates - - 1.78 3.00 2.71 4.82 4.82 Total 2.41 2.20 2.37 3.20 2.79 3.92 3.92 ------------------------------------------------------------------------------------------------------------------------- International Exploration Charges ($ Millions) Dry Holes 2 14 3 63 82 4 4 Lease Impairments 80 4 5 8 97 7 7 ------------------------------------------------------------------------------------------------------------------------- Total Non-Cash Charges 82 18 8 71 179 11 11 Other (G&G and Lease Rentals) 37 24 46 92 199 48 48 ------------------------------------------------------------------------------------------------------------------------- Total International Exploration Charges 119 42 54 163 378 59 59 ========================================================================================================================= Depreciation, Depletion & Amortization Producing operations ($ millions) 64 73 169 377 683 399 399 ------------------------------------------------------------------------------------------------------------------------- Page 7 of 14
R&M 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- R&M Net Income (Loss) ($ Millions) (87) 68 57 105 143 370 370 ========================================================================================================================= United States ($ Millions) (92) 73 44 113 138 256 256 ------------------------------------------------------------------------------------------------------------------------- International ($ Millions) 5 (5) 13 (8) 5 114 114 ------------------------------------------------------------------------------------------------------------------------- Market Indicators U.S. East Coast Crack Spread ($/bbl) 2.90 2.86 3.06 4.58 3.35 6.16 6.16 U.S. Gulf Coast Crack Spread ($/bbl) 2.78 3.70 2.79 3.74 3.25 5.64 5.64 U.S. Group Central Spread ($/bbl) 3.88 5.07 5.16 5.69 4.95 6.12 6.12 U.S. West Coast Crack Spread ($/bbl) 9.67 9.53 8.58 8.40 9.04 12.79 12.79 NW Europe Crack Spread ($/bbl) 0.74 1.38 1.70 2.72 1.64 5.68 5.68 ------------------------------------------------------------------------------------------------------------------------- Realized Margins Refining Margin ($/bbl) U.S. n/a n/a n/a 5.07 n/a 6.50 6.50 International n/a n/a n/a 2.98 n/a 5.63 5.63 ------------------------------------------------------------------------------------------------------------------------- Marketing Margin ($/gal) U.S. n/a n/a n/a 0.04 n/a 0.04 0.04 International n/a n/a n/a 0.16 n/a 0.17 0.17 ------------------------------------------------------------------------------------------------------------------------- Depreciation, Depletion & Amortization ($ Millions) 102 98 119 167 486 162 162 ------------------------------------------------------------------------------------------------------------------------- Consolidated EASTERN U.S. Charge Barrels Input (MB/D) Crude Oil 348 404 338 399 372 415 415 Other Feed and Blending Stocks 53 47 16 61 44 51 51 ------------------------------------------------------------------------------------------------------------------------- Total 401 451 354 460 416 466 466 ========================================================================================================================= Percentage Utilization 81% 94% 79% 93% 87% 97% 97% ------------------------------------------------------------------------------------------------------------------------- Refined Products Production (MB/D) Gasoline 214 247 187 260 227 244 244 Distillates 111 114 88 116 107 138 138 Aviation Fuel 35 37 37 37 36 32 32 Other 46 52 36 51 47 55 55 ------------------------------------------------------------------------------------------------------------------------- Total 406 450 348 464 417 469 469 ========================================================================================================================= U.S. GULF COAST Charge Barrels Input (MB/D) Crude Oil 414 428 509 652 501 668 668 Other Feed and Blending Stocks 80 67 87 101 85 103 103 ------------------------------------------------------------------------------------------------------------------------- Total 494 495 596 753 586 771 771 ========================================================================================================================= Percentage Utilization 90% 92% 93% 91% 92% 93% 93% ------------------------------------------------------------------------------------------------------------------------- Refined Products Production (MB/D) Gasoline 213 211 236 300 240 289 289 Distillates 146 144 172 247 177 242 242 Aviation Fuel 37 39 52 62 48 70 70 Other 102 116 148 181 137 221 221 ------------------------------------------------------------------------------------------------------------------------- Total 498 510 608 790 602 822 822 ========================================================================================================================= CENTRAL U.S. Charge Barrels Input (MB/D) Crude Oil 348 424 466 633 469 631 631 Other Feed and Blending Stocks 34 32 39 46 37 32 32 ------------------------------------------------------------------------------------------------------------------------- Total 382 456 505 679 506 663 663 ========================================================================================================================= Percentage Utilization 84% 98% 90% 92% 91% 92% 92% ------------------------------------------------------------------------------------------------------------------------- Refined Products Production (MB/D) Gasoline 200 235 269 389 274 367 367 Distillates 64 74 76 148 91 144 144 Aviation Fuel 50 49 58 64 55 59 59 Other 61 98 99 91 87 96 96 ------------------------------------------------------------------------------------------------------------------------- Total 375 456 502 692 507 666 666 ========================================================================================================================= n/a = not available. Page 8 of 14
R&M (continued) 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- WESTERN U.S. Charge Barrels Input (MB/D) Crude Oil 306 320 330 320 319 294 294 Other Feed and Blending Stocks (3) 16 13 16 11 9 9 ------------------------------------------------------------------------------------------------------------------------- Total 303 336 343 336 330 303 303 ========================================================================================================================= Percentage Utilization 92% 96% 99% 96% 96% 88% 88% ------------------------------------------------------------------------------------------------------------------------- Refined Products Production (MB/D) Gasoline 137 148 175 174 159 160 160 Distillates 71 77 78 81 77 66 66 Aviation Fuel 27 31 33 30 30 29 29 Other 61 60 51 48 55 42 42 ------------------------------------------------------------------------------------------------------------------------- Total 296 316 337 333 321 297 297 ========================================================================================================================= TOTAL UNITED STATES Charge Barrels Input (MB/D) Crude Oil 1,416 1,576 1,643 2,004 1,661 2,008 2,008 Other Feed and Blending Stocks 164 162 155 224 177 195 195 ------------------------------------------------------------------------------------------------------------------------- Total 1,580 1,738 1,798 2,228 1,838 2,203 2,203 ========================================================================================================================= Percentage Utilization 86% 95% 90% 93% 91% 93% 93% ------------------------------------------------------------------------------------------------------------------------- Refined Products Production (MB/D) Gasoline 764 841 867 1,123 900 1,060 1,060 Distillates 392 409 414 592 452 590 590 Aviation Fuel 149 156 180 193 169 190 190 Other 270 326 334 371 326 414 414 ------------------------------------------------------------------------------------------------------------------------- Total 1,575 1,732 1,795 2,279 1,847 2,254 2,254 ========================================================================================================================= UNITED KINGDOM and IRELAND Charge Barrels Input (MB/D) Crude Oil 65 67 126 177 109 262 262 Other Feed and Blending Stocks - - 15 30 11 39 39 ------------------------------------------------------------------------------------------------------------------------- Total 65 67 141 207 120 301 301 ========================================================================================================================= Percentage Utilization 90% 92% 85% 58% 73% 86% 86% ------------------------------------------------------------------------------------------------------------------------- Refined Products Production (MB/D) Gasoline 15 16 42 64 34 99 99 Distillates 26 26 56 76 46 125 125 Aviation Fuel - - 4 6 3 14 14 Other 21 21 32 77 38 54 54 ------------------------------------------------------------------------------------------------------------------------- Total 62 63 134 223 121 292 292 ========================================================================================================================= Equity Affiliates - Net Share International* Charge Barrels Input (MB/D) Crude Oil - - 42 130 43 134 134 Other Feed and Blending Stocks - - 1 3 1 2 2 ------------------------------------------------------------------------------------------------------------------------- Total - - 43 133 44 136 136 ========================================================================================================================= Percentage Utilization - - 95% 95% 95% 98% 98% ------------------------------------------------------------------------------------------------------------------------- Refined Products Production (MB/D) Gasoline - - 13 41 14 43 43 Distillates - - 18 58 19 58 58 Aviation Fuel - - 4 7 3 10 10 Other - - 9 19 7 33 33 ------------------------------------------------------------------------------------------------------------------------- Total - - 44 125 43 144 144 ========================================================================================================================= * Represents 18.75 percent interest in a refinery complex at Karlsruhe, Germany; 16.33 percent interest in two refineries in Kralupy and Litvinov, Czech Republic; and 47 percent interest in a refinery at Melaka, Malaysia. Page 9 of 14
R&M (continued) 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- Worldwide - Including Share of Equity Affiliates Charge Barrels Input (MB/D) Crude Oil 1,481 1,643 1,811 2,311 1,813 2,404 2,404 Other Feed and Blending Stocks 164 162 171 257 189 236 236 ------------------------------------------------------------------------------------------------------------------------- Total 1,645 1,805 1,982 2,568 2,002 2,640 2,640 ========================================================================================================================= Percentage Utilization 86% 95% 90% 89% 90% 92% 92% ------------------------------------------------------------------------------------------------------------------------- Refined Products Production (MB/D) Gasoline 779 857 922 1,228 948 1,202 1,202 Distillates 418 435 488 726 517 773 773 Aviation Fuel 149 156 188 206 175 214 214 Other 291 347 375 467 371 501 501 ------------------------------------------------------------------------------------------------------------------------- Total 1,637 1,795 1,973 2,627 2,011 2,690 2,690 ========================================================================================================================= U.S. PETROLEUM PRODUCTS SALES (MB/D)* Gasoline 1,084 1,159 1,195 1,478 1,230 1,331 1,331 Distillates 439 424 449 692 502 600 600 Aviation Fuel 162 185 219 172 185 164 164 Other 398 341 350 403 372 500 500 ------------------------------------------------------------------------------------------------------------------------- Total 2,083 2,109 2,213 2,745 2,289 2,595 2,595 ========================================================================================================================= *2002 amounts restated. INTERNATIONAL PETROLEUM PRODUCTS SALES (MB/D) Gasoline 12 13 78 163 67 202 202 Distillates 20 21 84 147 68 181 181 Aviation Fuel - - 2 6 2 5 5 Other 22 17 37 24 25 40 40 ------------------------------------------------------------------------------------------------------------------------- Total 54 51 201 340 162 428 428 ========================================================================================================================= SPECIALTIES Base Oil Production(MB/D) United States - Equity Affiliate - - 3 10 3 10 10 ------------------------------------------------------------------------------------------------------------------------- Petroleum Coke Sales (MMT)* United States Fuel coke 297 311 500 565 1,673 683 683 Specialty coke 56 57 196 292 601 276 276 ------------------------------------------------------------------------------------------------------------------------- International Fuel coke - - 12 54 66 57 57 Specialty coke - - 68 180 248 176 176 ------------------------------------------------------------------------------------------------------------------------- Finished Lubes Sales (MB/D)* United States 8 9 9 10 9 10 10 ------------------------------------------------------------------------------------------------------------------------- International - - - 1 - 1 1 ------------------------------------------------------------------------------------------------------------------------- *Included in "Other" in the petroleum products sales statistics above. Page 10 of 14
MIDSTREAM 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- Midstream Net Income ($ Millions) 12 12 11 20 55 31 31 ========================================================================================================================= U.S. Equity Affiliate ($ Millions)* 5 7 6 5 23 13 13 ------------------------------------------------------------------------------------------------------------------------- Natural Gas Liquids Extracted (MB/D) Consolidated United States - - 19 56 19 51 51 International - - 15 45 15 47 47 Equity Affiliates United States* 118 119 120 119 119 114 114 International - - 3 10 3 10 10 ------------------------------------------------------------------------------------------------------------------------- Total 118 119 157 230 156 222 222 ========================================================================================================================= * Represents 30.3 percent interest in Duke Energy Field Services, LLC (DEFS). Natural Gas Liquids Fractionated (MB/D) United States 107 104 139 179 133 168 168 ------------------------------------------------------------------------------------------------------------------------- Product Prices Weighted Average NGL ($/bbl)* Consolidated - - 18.57 19.24 19.07 25.59 25.59 DEFS 12.83 15.59 16.32 18.95 15.92 24.53 24.53 ------------------------------------------------------------------------------------------------------------------------- * Prices are based on index prices from the Mont Belvieu and Conway market hubs that are weighted by natural gas liquids component and location mix. Depreciation, Depletion & Amortization ($ Millions) 1 - 5 13 19 14 14 -------------------------------------------------------------------------------------------------------------------------
CHEMICALS 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- Chemicals Net Income (Loss) ($ Millions) (11) 7 3 (13) (14) (23) (23) ========================================================================================================================= Ethylene Net Production (MM Lbs.) 805 786 831 795 3,217 731 731 ------------------------------------------------------------------------------------------------------------------------- Cash Margin Index (3Q'00 = 100) 45 55 80 45 56 7 7 ------------------------------------------------------------------------------------------------------------------------- Polyethylene Net Production (MM Lbs.) 525 508 492 479 2,004 475 475 ------------------------------------------------------------------------------------------------------------------------- Feedstock Margin Index (3Q'00 = 100) 88 74 127 113 99 86 86 ------------------------------------------------------------------------------------------------------------------------- Styrene Net Production (MM Lbs.) 203 248 194 242 887 274 274 ------------------------------------------------------------------------------------------------------------------------- Feedstock Margin Index (3Q'00 = 100) 62 77 87 73 74 70 70 ------------------------------------------------------------------------------------------------------------------------- Normal Alpha Olefins Net Production (MM Lbs.) 158 147 139 148 592 146 146 ------------------------------------------------------------------------------------------------------------------------- Feedstock Margin Index (3Q'00 = 100) 156 124 145 132 139 99 99 ------------------------------------------------------------------------------------------------------------------------- Statistical information represents 50 percent interest in Chevron Phillips Chemical Company LLC (CPChem). Page 11 of 14
EMERGING BUSINESSES 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- Emerging Businesses Net Income (Loss) ($ Millions)* (5) (3) (262) (40) (310) (34) (34) ========================================================================================================================= Detail of Net Income (Loss) ($ Millions) Carbon Fibers - - (4) (11) (15) (6) (6) Fuels Technology (5) (3) (4) (4) (16) (5) (5) Gas-to-Liquids* - - (253) (20) (273) (20) (20) Power - - (1) (2) (3) 1 1 Other - - - (3) (3) (4) (4) ------------------------------------------------------------------------------------------------------------------------- Total (5) (3) (262) (40) (310) (34) (34) ========================================================================================================================= * Third quarter 2002 results include a $246 million write down of acquired in-process R&D.
CORPORATE AND OTHER 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- Corporate and Other Net Income (Loss) ($ Millions) (153) (72) (385) (1,308)(1,918) (190) (190) ========================================================================================================================= Detail of Net Income (Loss) ($ Millions) Net Interest Expense (78) (91) (83) (160) (412) (167) (167) Corporate Overhead (47) (27) (32) (67) (173) (35) (35) Discontinued operations Impairments and loss accruals - - (69) (1,008)(1,077) (25) (25) Operating results (4) 39 27 22 84 47 47 Merger-related costs (2) (1) (221) (83) (307) (27) (27) Other (22) 8 (7) (12) (33) 17 17 ------------------------------------------------------------------------------------------------------------------------- Total (153) (72) (385) (1,308)(1,918) (190) (190) ========================================================================================================================= Before-Tax Net Interest Expense ($ Millions) Interest Expense (158) (157) (193) (291) (799) (283) (283) Capitalized Interest 51 51 59 72 233 74 74 Interest Revenue 4 2 13 21 40 3 3 Premium on early debt retirement - (21) - (3) (24) (12) (12) ------------------------------------------------------------------------------------------------------------------------- (103) (125) (121) (201) (550) (218) (218) ========================================================================================================================= Debt Total Debt ($ Millions) 8,902 9,635 20,453 19,766 19,766 18,240 18,240 Debt-to-Capital Ratio 37.6% 39.4% 39.8% 39.3% 39.3% 36.4% 36.4% ------------------------------------------------------------------------------------------------------------------------- Page 12 of 14
SELECTED PRO FORMA STATISTICS (E&P) 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- E&P E&P Production Total Including Equity Affiliates and Canadian Syncrude (MBOE/D) 1,676 1,619 1,546 1,623 1,616 1,622 1,622 ------------------------------------------------------------------------------------------------------------------------- Crude Oil and Condensate (MB/D) Consolidated U.S. 424 406 370 381 395 397 397 Norway 200 208 219 233 215 226 226 United Kingdom 81 78 63 86 77 87 87 Canada 46 45 42 37 42 33 33 Indonesia 26 23 22 13 21 21 21 Nigeria 40 34 35 38 37 38 38 China 13 11 12 11 12 23 23 Other 52 50 48 55 51 55 55 Equity affiliates 91 84 104 87 92 55 55 ------------------------------------------------------------------------------------------------------------------------- Total 973 939 915 941 942 935 935 ========================================================================================================================= Natural Gas Liquids (MB/D) U.S. 48 46 42 45 45 44 44 International 24 22 24 25 24 23 23 ------------------------------------------------------------------------------------------------------------------------- Total 72 68 66 70 69 67 67 ========================================================================================================================= Natural Gas (MMCF/D) Consolidated U.S. 1,635 1,566 1,578 1,548 1,581 1,527 1,527 Norway 291 290 252 232 266 305 305 United Kingdom 869 856 603 975 826 1,002 1,002 Canada 548 565 512 442 517 436 436 Indonesia 179 169 189 220 189 224 224 Nigeria 37 40 43 51 43 50 50 Other 83 55 62 61 65 61 61 Equity affiliates 12 13 13 13 13 12 12 ------------------------------------------------------------------------------------------------------------------------- Total 3,654 3,554 3,252 3,542 3,500 3,617 3,617 ========================================================================================================================= Canadian Syncrude (MB/D) 22 20 23 22 22 17 17 ------------------------------------------------------------------------------------------------------------------------- E&P Average Realized Prices Crude Oil and Condensate ($/bbl) Consolidated U.S. 18.66 24.33 25.85 26.36 23.69 31.47 31.47 Norway 20.77 24.42 26.78 26.35 24.61 32.72 32.72 United Kingdom 19.78 23.69 26.15 25.98 23.99 30.11 30.11 Canada 19.39 21.79 24.96 21.26 21.82 28.40 28.40 Indonesia 19.38 24.46 24.21 30.59 23.51 29.35 29.35 Nigeria 21.33 25.16 27.40 26.97 25.12 31.80 31.80 China 19.57 25.27 26.31 29.64 25.03 28.87 28.87 Other 19.39 24.66 25.55 25.18 23.58 29.10 29.10 Equity affiliates 13.40 18.26 19.06 17.50 17.14 20.97 20.97 Total 18.93 23.71 25.24 25.31 23.26 30.72 30.72 ------------------------------------------------------------------------------------------------------------------------- Natural Gas Liquids ($/bbl) U.S. 12.92 17.05 16.78 19.27 16.44 25.13 25.13 International 9.86 15.62 18.56 19.39 15.95 24.22 24.22 Total 11.67 16.49 17.57 19.32 16.24 24.73 24.73 ------------------------------------------------------------------------------------------------------------------------- Natural Gas ($/mcf) Consolidated U.S. 2.26 2.80 2.71 3.38 2.78 5.34 5.34 Norway 3.20 2.99 3.26 3.33 3.19 3.66 3.66 United Kingdom 3.43 2.37 1.95 3.20 2.81 3.55 3.55 Canada 1.74 2.50 2.13 3.37 2.40 5.42 5.42 Indonesia 3.16 4.13 4.13 4.11 3.89 4.66 4.66 Nigeria 0.48 0.41 0.50 0.51 0.48 0.54 0.54 Other 0.38 0.38 0.34 0.40 0.38 0.43 0.43 Equity affiliates 2.17 2.60 1.78 3.00 2.39 4.82 4.82 Total 2.53 2.66 2.52 3.27 2.75 4.49 4.49 ------------------------------------------------------------------------------------------------------------------------- Note: Pro forma information derived by summing the historical Phillips and Conoco data for the period indicated. Page 13 of 14
SELECTED PRO FORMA STATISTICS (Midstream and R&M) 2002 2003 ---------------------------------------------------------------------------- 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD ---------------------------------------------------------------------------- Midstream Natural Gas Liquids Extracted (MB/D) Consolidated United States 49 52 50 56 52 51 51 International 42 42 46 45 44 47 47 Equity Affiliates United States* 118 119 120 119 119 114 114 International 9 9 9 10 9 10 10 ------------------------------------------------------------------------------------------------------------------------- Total 218 222 225 230 224 222 222 ========================================================================================================================= * Represents 30.3 percent interest in Duke Energy Field Services, LLC (DEFS). Natural Gas Liquids Fractionated (MB/D) United States 166 159 177 179 170 168 168 ------------------------------------------------------------------------------------------------------------------------- Product Prices Weighted Average NGL ($/bbl)* Consolidated 13.23 15.99 16.69 19.24 16.31 25.59 25.59 DEFS 12.83 15.59 16.32 18.95 15.92 24.53 24.53 ------------------------------------------------------------------------------------------------------------------------- * 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. R&M Charge Barrels Input (MB/D) Eastern U.S. Crude Oil 348 404 338 399 372 415 415 Other Feed and Blending Stocks 53 47 16 61 44 51 51 ------------------------------------------------------------------------------------------------------------------------- Total 401 451 354 460 416 466 466 ========================================================================================================================= Percentage Utilization 81% 94% 79% 93% 87% 97% 97% ------------------------------------------------------------------------------------------------------------------------- U.S. Gulf Coast Crude Oil 648 669 675 652 661 668 668 Other Feed and Blending Stocks 116 96 90 101 101 103 103 ------------------------------------------------------------------------------------------------------------------------- Total 764 765 765 753 762 771 771 ========================================================================================================================= Percentage Utilization 91% 94% 94% 91% 93% 93% 93% ------------------------------------------------------------------------------------------------------------------------- Central U.S. Crude Oil 568 664 624 633 622 631 631 Other Feed and Blending Stocks 25 23 22 46 29 32 32 ------------------------------------------------------------------------------------------------------------------------- Total 593 687 646 679 651 663 663 ========================================================================================================================= Percentage Utilization 85% 96% 91% 92% 91% 92% 92% ------------------------------------------------------------------------------------------------------------------------- Western U.S. Crude Oil 306 320 330 320 319 294 294 Other Feed and Blending Stocks (3) 16 13 16 11 9 9 ------------------------------------------------------------------------------------------------------------------------- Total 303 336 343 336 330 303 303 ========================================================================================================================= Percentage Utilization 92% 96% 99% 96% 96% 88% 88% ------------------------------------------------------------------------------------------------------------------------- Total U.S. Crude Oil 1,870 2,057 1,967 2,004 1,975 2,008 2,008 Other Feed and Blending Stocks 191 182 141 224 184 195 195 ------------------------------------------------------------------------------------------------------------------------- Total 2,061 2,239 2,108 2,228 2,159 2,203 2,203 ========================================================================================================================= Percentage Utilization 87% 95% 91% 93% 92% 93% 93% ------------------------------------------------------------------------------------------------------------------------- United Kingdom and Ireland Crude Oil 279 260 273 177 247 262 262 Other Feed and Blending Stocks 18 27 43 30 30 39 39 ------------------------------------------------------------------------------------------------------------------------- Total 297 287 316 207 277 301 301 ========================================================================================================================= Percentage Utilization 92% 86% 90% 58% 81% 86% 86% ------------------------------------------------------------------------------------------------------------------------- Equity Affiliates -- Net Share -- International* Crude Oil 119 127 127 130 126 134 134 Other Feed and Blending Stocks 4 6 4 3 4 2 2 ------------------------------------------------------------------------------------------------------------------------- Total 123 133 131 133 130 136 136 ========================================================================================================================= Percentage Utilization 88% 93% 93% 94% 92% 98% 98% ------------------------------------------------------------------------------------------------------------------------- * Represents 18.75 percent interest in a refinery complex at Karlsruhe, Germany; 16.33 percent interest in two refineries in Kralupy and Litvinov, Czech Republic; and 47 percent interest in a refinery at Melaka, Malaysia. Worldwide -- Including Net Share of Equity Affiliates Crude Oil 2,268 2,444 2,367 2,311 2,348 2,404 2,404 Other Feed and Blending Stocks 213 215 188 257 218 236 236 ------------------------------------------------------------------------------------------------------------------------- Total 2,481 2,659 2,555 2,568 2,566 2,640 2,640 ========================================================================================================================= Percentage Utilization 88% 94% 91% 89% 90% 92% 92% ------------------------------------------------------------------------------------------------------------------------- U.S. Petroleum Products Sales (MB/D) Gasoline 1,375 1,461 1,417 1,478 1,433 1,331 1,331 Distillates 653 650 602 692 649 600 600 Aviation Fuel 231 259 268 172 232 164 164 Other 524 479 456 403 465 500 500 ------------------------------------------------------------------------------------------------------------------------- Total 2,783 2,849 2,743 2,745 2,780 2,595 2,595 ========================================================================================================================= Note: Pro forma information derived by summing the historical Phillips and Conoco data for the period indicated. 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