EX-99 5 a4444577ex993.txt EXHIBIT 99.3 SUPPLEMENTAL FINANCIAL INFORMATION Exhibit 99.3
SUMMARY OF NET INCOME (LOSS) BY SEGMENT Millions of Dollars ---------------------------------------------------------------- 2002 2003 --------------------------------- ------------------------------ 1st 2nd Qtr 3rd 4th Qtr YTD 1st 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr --------------------------------- ------------------------------ Income from Continuing Operations Before Accounting Change U.S. E&P 155 280 306 415 1,156 676 516 1,192 International E&P (13) 59 154 393 593 461 554 1,015 ----------------------------------------------------------- ------------------------------ Total E&P 142 339 460 808 1,749 1,137 1,070 2,207 ----------------------------------------------------------- ------------------------------ Midstream 12 12 11 20 55 31 25 56 ----------------------------------------------------------- ------------------------------ U.S. R&M (92) 73 44 113 138 257 227 484 International R&M 5 (5) 13 (8) 5 114 74 188 ----------------------------------------------------------- ------------------------------ Total R&M (87) 68 57 105 143 371 301 672 ----------------------------------------------------------- ------------------------------ Chemicals (11) 7 3 (13) (14) (23) 12 (11) Emerging Businesses (5) (3) (262) (40) (310) (34) (23) (57) Corporate and Other (149) (111) (343) (322) (925) (212) (306) (518) ----------------------------------------------------------- ------------------------------ Consolidated (98) 312 (74) 558 698 1,270 1,079 2,349 =========================================================== ============================== 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 59 81 =========================================================== ============================== Net Income (Loss) U.S. E&P 155 280 306 415 1,156 837 516 1,353 International E&P (13) 59 154 393 593 446 554 1,000 ----------------------------------------------------------- ------------------------------ Total E&P 142 339 460 808 1,749 1,283 1,070 2,353 ----------------------------------------------------------- ------------------------------ Midstream 12 12 11 20 55 31 25 56 ----------------------------------------------------------- ------------------------------ U.S. R&M (92) 73 44 113 138 256 227 483 International R&M 5 (5) 13 (8) 5 114 74 188 ----------------------------------------------------------- ------------------------------ Total R&M (87) 68 57 105 143 370 301 671 ----------------------------------------------------------- ------------------------------ Chemicals (11) 7 3 (13) (14) (23) 12 (11) Emerging Businesses (5) (3) (262) (40) (310) (34) (23) (57) Corporate and Other (153) (72) (385)(1,308)(1,918) (190) (247) (437) ----------------------------------------------------------- ------------------------------ Consolidated (102) 351 (116) (428) (295) 1,437 1,138 2,575 =========================================================== ============================== Page 1 of 13
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES Millions of Dollars ------------------------------------------------------------------ 2002 2003 -------------------------------- --------------------------------- 1st 2nd Qtr 3rd 4th YTD 1st Qtr 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr -------------------------------- --------------------------------- Income from Continuing Operations Before Income Taxes U.S. E&P 223 419 450 536 1,628 1,048 799 1,847 International E&P 167 260 555 949 1,931 1,280 960 2,240 ---------------------------------------------------------- --------------------------------- Total E&P 390 679 1,005 1,485 3,559 2,328 1,759 4,087 ---------------------------------------------------------- --------------------------------- Midstream 20 20 23 35 98 51 42 93 ---------------------------------------------------------- --------------------------------- U.S. R&M (140) 118 75 175 228 411 361 772 International R&M 5 (5) 19 (25) (6) 150 94 244 ---------------------------------------------------------- --------------------------------- Total R&M (135) 113 94 150 222 561 455 1,016 ---------------------------------------------------------- --------------------------------- Chemicals (18) 3 (1) (16) (32) (44) 15 (29) Emerging Businesses (8) (5) (274) (62) (349) (51) (34) (85) Corporate and Other (198) (153) (535) (471)(1,357) (280) (484) (764) ---------------------------------------------------------- --------------------------------- Consolidated 51 657 312 1,121 2,141 2,565 1,753 4,318 ========================================================== ================================= Income from Continuing Operations Effective Tax Rates U.S. E&P 30.5% 33.2% 32.0% 22.6% 29.0% 35.5% 35.4% 35.5% International E&P 107.8% 77.3% 72.3% 58.6% 69.3% 64.0% 42.3% 54.7% ---------------------------------------------------------- --------------------------------- Total E&P 63.6% 50.1% 54.2% 45.6% 50.9% 51.2% 39.2% 46.0% ---------------------------------------------------------- --------------------------------- Midstream 40.0% 40.0% 52.2% 42.9% 43.9% 39.2% 40.5% 39.8% ---------------------------------------------------------- --------------------------------- U.S. R&M 34.3% 38.1% 41.3% 35.4% 39.5% 37.5% 37.1% 37.3% International R&M 0.0% 0.0% 31.6% 68.0% 183.3% 24.0% 21.3% 23.0% ---------------------------------------------------------- --------------------------------- Total R&M 35.6% 39.8% 39.4% 30.0% 35.6% 33.9% 33.8% 33.9% ---------------------------------------------------------- --------------------------------- Chemicals 38.9%-133.3%400.0% 18.8% 56.3% 47.7% 20.0% 62.1% Emerging Businesses 37.5% 40.0% 4.4% 35.5% 11.2% 33.3% 32.4% 32.9% Corporate and Other 24.7% 27.5% 35.9% 31.6% 31.8% 24.3% 36.8% 32.2% ---------------------------------------------------------- --------------------------------- Consolidated 292.2% 52.5%123.7% 50.2% 67.4% 50.5% 38.4% 45.6% ========================================================== ================================= Page 2 of 13
CERTAIN ITEMS AFFECTING NET INCOME (AFTER-TAX) Millions of Dollars ------------------------------------------------------------------- 2002 2003 --------------------------------- --------------------------------- 1st 2nd 3rd 4th Qtr YTD 1st 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr Qtr --------------------------------- --------------------------------- U.S. E&P Asset sales - - (5) - (5) 2 17 19 Property impairments - (3) (5) - (8) - (14) (14) Dry hole charges (9) (2) (1) (38) (50) (10) (1) (11) ----------------------------------------------------------- --------------------------------- Total (9) (5) (11) (38) (63) (8) 2 (6) ----------------------------------------------------------- --------------------------------- International E&P Asset sales - - - 17 17 (1) (3) (4) Property impairments (7) (2) - (14) (23) (12) (32) (44) Foreign currency transaction gains (losses) 2 (7) (6) (23) (34) 10 (24) (14) Dry hole charges (2) (7) (1) (48) (58) (5) (6) (11) ----------------------------------------------------------- --------------------------------- Total (7) (16) (7) (68) (98) (8) (65) (73) ----------------------------------------------------------- --------------------------------- Total E&P (16) (21) (18) (106) (161) (16) (63) (79) ----------------------------------------------------------- --------------------------------- Midstream Asset sales - - - - - - - - Property impairments - - - - - - - - ----------------------------------------------------------- --------------------------------- Total - - - - - - - - ----------------------------------------------------------- --------------------------------- U.S. R&M Asset sales - - - - - - 1 1 Impairments and lease loss accruals - - - (88) (88) (25) (25) (50) Maintenance turnaround expense (46) (19) (29) (16) (110) (39) (23) (62) ----------------------------------------------------------- --------------------------------- Total (46) (19) (29) (104) (198) (64) (47) (111) ----------------------------------------------------------- --------------------------------- International R&M Asset sales - - - - - - - - Maintenance turnaround expense - - - (1) (1) (1) (3) (4) Foreign currency transaction gains (losses) 3 2 3 1 9 1 10 11 Property impairments - - - - - - - - ----------------------------------------------------------- --------------------------------- Total 3 2 3 - 8 - 7 7 ----------------------------------------------------------- --------------------------------- Total R&M (43) (17) (26) (104) (190) (64) (40) (104) ----------------------------------------------------------- --------------------------------- Chemicals - - - - - - - - ----------------------------------------------------------- --------------------------------- Total - - - - - - - - ----------------------------------------------------------- --------------------------------- Emerging Businesses Asset sales - - - - - - - - Foreign currency transaction gains (losses) - - - - - (1) 1 - ----------------------------------------------------------- --------------------------------- Total - - - - - (1) 1 - ----------------------------------------------------------- --------------------------------- Corporate and Other Discontinued operations Impairments and lease loss accruals - - (69)(1,008) (1,077) (25) (24) (49) Other results (4) 39 27 22 84 47 83 130 Asset sales - - - - - - - - Foreign currency transaction gains (losses) (4) 12 5 8 21 1 18 19 Merger-related expenses (2) (1) (221) (83) (307) (27) (115) (142) Premium on early debt retirement - (15) - (1) (16) (10) (9) (19) ----------------------------------------------------------- --------------------------------- Total (10) 35 (258)(1,062) (1,295) (14) (47) (61) ----------------------------------------------------------- --------------------------------- 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 13
CASH FLOW INFORMATION Millions of Dollars ------------------------------------------------------------------- 2002 2003 ---------------------------------- -------------------------------- 1st 2nd Qtr3rd Qtr4th Qtr YTD 1st Qtr2nd Qtr 3rd 4th YTD Qtr Qtr Qtr ---------------------------------- -------------------------------- DD&A (including property impairments) included in net cash provided by operating activities 406 402 557 1,035 2,400 877 993 1,870 ============================================================ ================================ Net Cash Provided by Operating Activities 579 530 1,878 1,982 4,969 3,179 2,260 5,439 ------------------------------------------------------------ -------------------------------- Cash Flows from Investing Activities Capital expenditures and investments: E&P (517) (701) (715)(1,343)(3,276) (1,012)(1,167) (2,179) Midstream - - (2) (3) (5) (2) (2) (4) R&M (104) (130) (191) (415) (840) (203) (257) (460) Chemicals (10) (9) (10) (31) (60) - - - Emerging Businesses - - (35) (87) (122) (66) (98) (164) Corporate and Other (14) (34) (7) (30) (85) (26) (50) (76) ------------------------------------------------------------ -------------------------------- Total capital expend. & investments (645) (874) (960)(1,909)(4,388) (1,309)(1,574) (2,883) Acquisitions, net of cash acquired - - 1,242 (62) 1,180 - - - Proceeds from asset dispositions 45 36 19 715 815 121 373 494 Long-term advances to affiliates and other investments (12) 14 (83) (11) (92) (28) (8) (36) Discontinued operations (12) (12) (23) (52) (99) (17) (1) (18) ------------------------------------------------------------ -------------------------------- Net Cash Used for Investing Activities (624) (836) 195 (1,319)(2,584) (1,233)(1,210) (2,443) ------------------------------------------------------------ -------------------------------- Cash Flows from Financing Activities Net issuance (repayment) of debt 204 725 (1,432) (587)(1,090) (1,556) (626) (2,182) Redemption of preferred stock - (300) - - (300) - - - Dividends (138) (137) (138) (271) (684) (271) (272) (543) Other 7 (7) (131) (15) (146) (3) 36 33 ------------------------------------------------------------ -------------------------------- Net Cash Provided by (Used for) Financing Activities 73 281 (1,701) (873)(2,220) (1,830) (862) (2,692) ------------------------------------------------------------ -------------------------------- Net Change in Cash and Cash Equivalents 28 (25) 372 (210) 165 116 188 304 Cash and cash equivalents at beginning of period 142 170 145 517 142 307 423 307 ------------------------------------------------------------ -------------------------------- Cash and Cash Equivalents at End of Period 170 145 517 307 307 423 611 611 ============================================================ ================================ Page 4 of 13
TOTAL E&P 2002 2003 -------------------------------- ------------------------------ 1st 2nd Qtr 3rd 4th YTD 1st 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr Qtr -------------------------------- ------------------------------ E&P Net Income ($ Millions) 142 339 460 808 1,749 1,283 1,070 2,353 ========================================================== ============================== Production Total, Including Equity Affiliates and Canadian Syncrude (MBOE/D) 833 798 1,046 1,623 1,077 1,622 1,636 1,629 ---------------------------------------------------------- ------------------------------ Crude Oil and Condensate (MB/D) Consolidated 566 546 620 854 647 880 850 865 Equity affiliates 5 4 44 87 35 55 117 86 ---------------------------------------------------------- ------------------------------ Total 571 550 664 941 682 935 967 951 ========================================================== ============================== Sales of crude oil produced (MB/D) 566 557 664 918 677 911 996 954 ---------------------------------------------------------- ------------------------------ Natural Gas Liquids (MB/D) 37 34 43 70 46 67 67 67 ----------------------------------------------------------------------------------------- Natural Gas (MMCF/D) Consolidated 1,349 1,286 1,982 3,529 2,043 3,605 3,485 3,545 Equity affiliates - - 4 13 4 12 11 11 ---------------------------------------------------------- ------------------------------ Total 1,349 1,286 1,986 3,542 2,047 3,617 3,496 3,556 ========================================================== ============================== Canadian Syncrude (MB/D) - - 8 22 8 17 19 18 ---------------------------------------------------------- ------------------------------ Industry Prices (Platt's) Crude Oil ($/bbl) WTI spot 21.56 26.27 28.31 28.20 26.09 34.06 29.02 31.54 Brent dated 21.14 25.04 26.94 26.78 24.98 31.51 26.03 28.77 Natural Gas--Henry Hub 1st of month ($/mcf) 2.34 3.38 3.16 3.97 3.21 6.58 5.40 5.99 ---------------------------------------------------------- ------------------------------ Average Realized Prices Crude Oil and Condensate ($/bbl) Consolidated 19.41 24.46 26.38 26.12 24.38 31.27 26.33 28.76 Equity affiliates 15.86 21.06 20.29 17.50 18.41 20.97 16.85 18.02 Total 19.37 24.44 25.97 25.31 24.07 30.73 25.19 27.82 ---------------------------------------------------------- ------------------------------ Natural Gas Liquids ($/bbl) 16.00 20.36 19.42 19.32 18.93 24.73 19.17 21.86 ---------------------------------------------------------- ------------------------------ Natural Gas ($/mcf) Consolidated 2.15 2.40 2.49 3.27 2.77 4.49 3.92 4.21 Equity affiliates - - 1.78 3.00 2.71 4.82 4.89 4.85 Total 2.15 2.40 2.49 3.27 2.77 4.49 3.93 4.21 ---------------------------------------------------------- ------------------------------ Exploration Charges ($ Millions) Dry Holes 16 17 4 124 161 20 30 50 Lease Impairments 93 16 15 22 146 20 24 44 ---------------------------------------------------------- ------------------------------ Total Non-Cash Charges 109 33 19 146 307 40 54 94 Other (G&G and Lease Rentals) 54 34 66 131 285 76 88 164 ---------------------------------------------------------- ------------------------------ Total Exploration Charges 163 67 85 277 592 116 142 258 ========================================================== ============================== Depreciation, Depletion & Amortization Producing operations ($ millions) 274 278 398 666 1,616 641 628 1,269 ---------------------------------------------------------- ------------------------------ Page 5 of 13
U.S. E&P 2002 2003 -------------------------------- ------------------------------ 1st 2nd Qtr 3rd 4th YTD 1st 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr Qtr -------------------------------- ------------------------------ U.S. E&P Net Income ($ Millions) 155 280 306 415 1,156 837 516 1,353 ========================================================== ============================== Alaska ($ Millions) 123 223 246 278 870 525 301 826 ---------------------------------------------------------- ------------------------------ Lower 48 ($ Millions) 32 57 60 137 286 312 215 527 ---------------------------------------------------------- ------------------------------ Production Total U.S. (MBOE/D) 564 538 562 684 587 696 678 686 ---------------------------------------------------------- ------------------------------ Crude Oil and Condensate (MB/D) Alaska 353 339 310 323 331 337 331 334 Lower 48 33 31 38 58 40 60 57 58 ---------------------------------------------------------- ------------------------------ Total 386 370 348 381 371 397 388 392 ========================================================== ============================== Sales of crude oil produced (MB/D) 383 374 360 370 372 391 389 390 ---------------------------------------------------------- ------------------------------ Natural Gas Liquids (MB/D)* Alaska 27 25 21 24 24 25 23 24 Lower 48 1 1 9 21 8 19 21 20 ---------------------------------------------------------- ------------------------------ Total 28 26 30 45 32 44 44 44 ========================================================== ============================== *Includes reinjection volumes sold lease-to- lease: 15 14 13 15 14 15 14 14 ---------------------------------------------------------- ------------------------------ Natural Gas (MMCF/D) Alaska 168 160 183 186 175 189 162 175 Lower 48 734 689 922 1,362 928 1,338 1,311 1,324 ---------------------------------------------------------- ------------------------------ Total 902 849 1,105 1,548 1,103 1,527 1,473 1,499 ========================================================== ============================== Average Realized Prices Crude Oil and Condensate ($/bbl) Alaska North Slope 13.58 18.96 20.42 21.10 18.42 25.95 21.70 23.81 ---------------------------------------------------------- ------------------------------ West Coast 18.72 24.40 25.83 26.43 23.75 31.47 27.19 29.32 ---------------------------------------------------------- ------------------------------ Lower 48 18.86 24.53 26.87 26.00 24.48 31.48 27.34 29.44 ---------------------------------------------------------- ------------------------------ Total U.S. 18.73 24.41 25.94 26.36 23.83 31.47 27.21 29.34 ---------------------------------------------------------- ------------------------------ . . Natural Gas Liquids ($/bbl) Alaska 18.67 24.40 25.68 26.48 23.48 31.32 27.24 29.32 ---------------------------------------------------------- ------------------------------ Lower 48 12.75 16.74 14.62 16.17 15.66 21.91 15.89 18.68 ---------------------------------------------------------- ------------------------------ Total U.S. 18.13 23.61 20.17 19.27 20.00 25.13 19.33 22.11 ---------------------------------------------------------- ------------------------------ Natural Gas ($/mcf) Alaska 2.13 1.80 1.58 1.95 1.85 1.97 1.88 1.92 ---------------------------------------------------------- ------------------------------ Lower 48 1.99 2.56 2.65 3.43 2.79 5.47 4.72 5.10 ---------------------------------------------------------- ------------------------------ Total U.S. 1.99 2.51 2.60 3.38 2.75 5.34 4.58 4.96 ---------------------------------------------------------- ------------------------------ Kenai, Alaska LNG Sales Volume (MMCF/D) 117 114 128 128 122 130 91 111 ---------------------------------------------------------- ------------------------------ Sales price per MCF 4.00 3.74 4.21 4.30 4.07 4.38 4.56 4.45 ---------------------------------------------------------- ------------------------------ U.S. Exploration Charges ($ Millions) Dry Holes 14 3 1 61 79 16 3 19 Lease Impairments 13 12 10 14 49 13 12 25 ---------------------------------------------------------- ------------------------------ Total Non-Cash Charges 27 15 11 75 128 29 15 44 Other (G&G and Lease Rentals) 17 10 20 39 86 28 22 50 ---------------------------------------------------------- ------------------------------ Total U.S. Exploration Charges 44 25 31 114 214 57 37 94 ========================================================== ============================== Alaska Only 27 12 11 45 95 25 10 35 ---------------------------------------------------------- ------------------------------ Depreciation, Depletion & Amortization Producing operations ($ millions) Alaska 156 157 136 140 589 110 122 232 Lower 48 54 48 93 149 344 148 148 296 ---------------------------------------------------------- ------------------------------ Total U.S. 210 205 229 289 933 258 270 528 ========================================================== ============================== Page 6 of 13
INTERNATIONAL E&P 2002 2003 -------------------------------- ------------------------------ 1st 2nd Qtr 3rd 4th YTD 1st 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr Qtr -------------------------------- ------------------------------ International E&P Net Income (Loss) ($ Millions) (13) 59 154 393 593 446 554 1,000 ========================================================== ============================== Production Total, Including Equity Affiliates and Canadian Syncrude (MBOE/D) 269 261 484 939 490 926 958 943 ---------------------------------------------------------- ------------------------------ Crude Oil and Condensate (MB/D) Consolidated Norway 118 119 156 233 157 226 214 220 United Kingdom 17 18 35 86 39 87 82 85 Canada 1 1 14 37 13 33 31 32 Nigeria 27 23 29 38 29 38 39 38 China 13 11 12 11 12 23 27 25 Indonesia - - 6 13 5 21 17 19 Other 4 4 20 55 21 55 52 54 Equity affiliates 5 4 44 87 35 55 117 86 ---------------------------------------------------------- ------------------------------ Total 185 180 316 560 311 538 579 559 ========================================================== ============================== Sales of crude oil produced (MB/D) 183 183 304 548 306 520 607 564 ---------------------------------------------------------- ------------------------------ Natural Gas Liquids (MB/D) Norway 5 4 6 7 6 8 7 8 Canada - - 3 14 4 11 11 11 Other 4 4 4 4 4 4 5 4 ---------------------------------------------------------- ------------------------------ Total 9 8 13 25 14 23 23 23 ========================================================== ============================== Natural Gas (MMCF/D) Consolidated Norway 135 131 183 232 171 305 273 289 United Kingdom 173 189 349 975 424 1,002 952 977 Canada 19 22 172 442 165 436 424 430 Indonesia - - 68 220 72 224 246 235 Other 120 95 105 112 108 111 117 115 Equity affiliates - - 4 13 4 12 11 11 ---------------------------------------------------------- ------------------------------ Total 447 437 881 1,994 944 2,090 2,023 2,057 ========================================================== ============================== Canadian Syncrude (MB/D) - - 8 22 8 17 19 18 ---------------------------------------------------------- ------------------------------ Average Realized Prices Crude Oil and Condensate ($/bbl) Consolidated Norway 21.04 24.49 27.19 26.35 25.21 32.72 26.28 29.39 United Kingdom 21.21 24.14 26.88 25.98 25.33 30.11 24.34 27.25 Canada 20.03 24.85 27.20 21.26 22.87 28.40 23.61 26.07 Nigeria 21.14 24.95 27.51 26.97 25.37 31.94 26.35 28.87 China 19.57 25.27 26.31 29.64 25.03 28.87 26.51 27.57 Indonesia - - 24.89 30.59 28.10 29.35 24.54 27.20 Other 15.00 25.18 25.75 25.18 24.94 29.10 25.38 27.25 Equity affiliates 15.86 21.06 20.29 17.50 18.41 20.97 16.85 18.02 Total 20.71 24.51 26.01 24.60 24.36 30.17 23.90 26.77 ---------------------------------------------------------- ------------------------------ Natural Gas Liquids ($/bbl) Norway 12.88 15.48 15.64 20.69 16.51 21.85 18.13 19.90 Canada - - 29.12 18.42 20.39 26.11 20.78 23.49 Other 12.58 13.29 13.74 20.51 15.29 23.40 16.73 19.88 Total 12.76 14.58 18.42 19.39 17.47 24.22 18.96 21.54 ---------------------------------------------------------- ------------------------------ Natural Gas ($/mcf) Consolidated Norway 3.22 3.02 3.16 3.33 3.20 3.66 3.86 3.75 United Kingdom 3.18 2.55 2.22 3.20 2.92 3.55 3.17 3.36 Canada 2.23 2.21 2.32 3.37 3.03 5.42 4.34 4.89 Indonesia - - 4.18 4.11 4.12 4.66 4.16 4.40 Other 0.41 0.39 0.41 0.45 0.42 0.48 0.48 0.48 Equity affiliates - - 1.78 3.00 2.71 4.82 4.89 4.85 Total 2.41 2.20 2.37 3.20 2.79 3.92 3.48 3.70 ---------------------------------------------------------- ------------------------------ International Exploration Charges ($ Millions) Dry Holes 2 14 3 63 82 4 27 31 Lease Impairments 80 4 5 8 97 7 12 19 ---------------------------------------------------------- ------------------------------ Total Non-Cash Charges 82 18 8 71 179 11 39 50 Other (G&G and Lease Rentals) 37 24 46 92 199 48 66 114 ---------------------------------------------------------- ------------------------------ Total International Exploration Charges 119 42 54 163 378 59 105 164 ========================================================== ============================== Depreciation, Depletion & Amortization Producing operations ($ millions) 64 73 169 377 683 383 358 741 ---------------------------------------------------------- ------------------------------ Page 7 of 13
R&M 2002 2003 ------------------------------- ------------------------------ 1st 2nd 3rd 4th YTD 1st 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr ------------------------------- ------------------------------ R&M Net Income (Loss) ($ Millions) (87) 68 57 105 143 370 301 671 ======================================================================================== United States ($ Millions) (92) 73 44 113 138 256 227 483 --------------------------------------------------------- ------------------------------ International ($ Millions) 5 (5) 13 (8) 5 114 74 188 --------------------------------------------------------- ------------------------------ Market Indicators U.S. East Coast Crack Spread ($/bbl) 2.90 2.86 3.06 4.58 3.35 6.16 3.46 4.81 U.S. Gulf Coast Crack Spread ($/bbl) 2.78 3.70 2.79 3.74 3.25 5.64 3.65 4.64 U.S. Group Central Spread ($/bbl) 3.88 5.07 5.16 5.69 4.95 6.12 6.96 6.54 U.S. West Coast Crack Spread ($/bbl) 9.67 9.53 8.58 8.40 9.04 12.79 11.39 12.09 NW Europe Crack Spread ($/bbl) 0.74 1.38 1.70 2.72 1.64 5.68 3.17 4.42 --------------------------------------------------------- ------------------------------ Realized Margins Refining Margin ($/bbl) U.S. n/a n/a n/a 5.07 n/a 6.50 5.34 5.90 International n/a n/a n/a 2.98 n/a 5.63 3.98 4.82 --------------------------------------------------------- ------------------------------ Marketing Margin ($/gal) U.S. n/a n/a n/a 0.04 n/a 0.04 0.06 0.05 International n/a n/a n/a 0.16 n/a 0.17 0.22 0.19 --------------------------------------------------------- ------------------------------ Depreciation, Depletion & Amortization ($ Millions) 102 98 119 167 486 162 171 333 --------------------------------------------------------- ------------------------------ Consolidated EASTERN U.S. Charge Barrels Input (MB/D) Crude Oil 348 404 338 399 372 415 435 425 Other Feed and Blending Stocks 53 47 16 61 44 51 53 52 --------------------------------------------------------- ------------------------------ Total 401 451 354 460 416 466 488 477 ========================================================= ============================== Percentage Utilization 81% 94% 79% 93% 87% 97% 101% 99% --------------------------------------------------------- ------------------------------ Refined Products Production (MB/D) Gasoline 214 247 187 260 227 244 249 246 Distillates 111 114 88 116 107 138 131 135 Aviation Fuel 35 37 37 37 36 32 29 30 Other 46 52 36 51 47 55 85 71 --------------------------------------------------------- ------------------------------ Total 406 450 348 464 417 469 494 482 ========================================================= ============================== U.S. GULF COAST Charge Barrels Input (MB/D) Crude Oil 414 428 509 652 501 668 702 685 Other Feed and Blending Stocks 80 67 87 101 85 103 95 99 --------------------------------------------------------- ------------------------------ Total 494 495 596 753 586 771 797 784 ========================================================= ============================== Percentage Utilization 90% 92% 93% 91% 92% 93% 98% 96% --------------------------------------------------------- ------------------------------ Refined Products Production (MB/D) Gasoline 213 211 236 300 240 289 277 283 Distillates 146 144 172 247 177 242 249 245 Aviation Fuel 37 39 52 62 48 70 63 67 Other 102 116 148 181 137 221 242 231 --------------------------------------------------------- ------------------------------ Total 498 510 608 790 602 822 831 826 ========================================================= ============================== CENTRAL U.S. Charge Barrels Input (MB/D) Crude Oil 348 424 466 633 469 631 663 647 Other Feed and Blending Stocks 34 32 39 46 37 32 24 28 --------------------------------------------------------- ------------------------------ Total 382 456 505 679 506 663 687 675 ========================================================= ============================== Percentage Utilization 84% 98% 90% 92% 91% 92% 96% 94% --------------------------------------------------------- ------------------------------ Refined Products Production (MB/D) Gasoline 200 235 269 389 274 367 375 371 Distillates 64 74 76 148 91 144 152 148 Aviation Fuel 50 49 58 64 55 59 57 58 Other 61 98 99 91 87 96 110 103 --------------------------------------------------------- ------------------------------ Total 375 456 502 692 507 666 694 680 ========================================================= ============================== n/a = not available. Page 8 of 13
R&M (continued) 2002 2003 --------------------------------- --------------------------------- 1st 2nd 3rd 4th YTD 1st 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr Qtr Qtr --------------------------------- --------------------------------- WESTERN U.S. Charge Barrels Input (MB/D) Crude Oil 306 320 330 320 319 294 328 311 Other Feed and Blending Stocks (3) 16 13 16 11 9 13 11 ----------------------------------------------------------- --------------------------------- Total 303 336 343 336 330 303 341 322 =========================================================== ================================= Percentage Utilization 92% 96% 99% 96% 96% 88% 99% 93% ----------------------------------------------------------- --------------------------------- Refined Products Production (MB/D) Gasoline 137 148 175 174 159 160 176 168 Distillates 71 77 78 81 77 66 83 75 Aviation Fuel 27 31 33 30 30 29 24 26 Other 61 60 51 48 55 42 55 48 ----------------------------------------------------------- --------------------------------- Total 296 316 337 333 321 297 338 317 =========================================================== ================================= TOTAL UNITED STATES Charge Barrels Input (MB/D) Crude Oil 1,416 1,576 1,643 2,004 1,661 2,008 2,128 2,068 Other Feed and Blending Stocks 164 162 155 224 177 195 185 190 ----------------------------------------------------------- --------------------------------- Total 1,580 1,738 1,798 2,228 1,838 2,203 2,313 2,258 =========================================================== ================================= Percentage Utilization 86% 95% 90% 93% 91% 93% 98% 95% ----------------------------------------------------------- --------------------------------- Refined Products Production (MB/D) Gasoline 764 841 867 1,123 900 1,060 1,077 1,068 Distillates 392 409 414 592 452 590 615 603 Aviation Fuel 149 156 180 193 169 190 173 181 Other 270 326 334 371 326 414 492 453 ----------------------------------------------------------- --------------------------------- Total 1,575 1,732 1,795 2,279 1,847 2,254 2,357 2,305 =========================================================== ================================= UNITED KINGDOM and IRELAND Charge Barrels Input (MB/D) Crude Oil 65 67 126 177 109 262 244 253 Other Feed and Blending Stocks - - 15 30 11 39 42 41 ----------------------------------------------------------- --------------------------------- Total 65 67 141 207 120 301 286 294 =========================================================== ================================= Percentage Utilization 90% 92% 85% 58% 73% 86% 80% 83% ----------------------------------------------------------- --------------------------------- Refined Products Production (MB/D) Gasoline 15 16 42 64 34 99 91 95 Distillates 26 26 56 76 46 125 118 122 Aviation Fuel - - 4 6 3 14 7 10 Other 21 21 32 77 38 54 59 56 ----------------------------------------------------------- --------------------------------- Total 62 63 134 223 121 292 275 283 =========================================================== ================================= Equity Affiliates - Net Share International* Charge Barrels Input (MB/D) Crude Oil - - 42 130 43 134 132 133 Other Feed and Blending Stocks - - 1 3 1 2 3 2 ----------------------------------------------------------- --------------------------------- Total - - 43 133 44 136 135 135 =========================================================== ================================= Percentage Utilization - - 95% 95% 95% 98% 97% 98% ----------------------------------------------------------- --------------------------------- Refined Products Production (MB/D) Gasoline - - 13 41 14 43 41 42 Distillates - - 18 58 19 58 59 58 Aviation Fuel - - 4 7 3 10 8 9 Other - - 9 19 7 33 24 29 ----------------------------------------------------------- --------------------------------- Total - - 44 125 43 144 132 138 =========================================================== ================================= * 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 13
R&M (continued) 2002 2003 --------------------------------- -------------------------------- 1st 2nd 3rd Qtr 4th YTD 1st Qtr 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr --------------------------------- -------------------------------- 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 2,504 2,454 Other Feed and Blending Stocks 164 162 171 257 189 236 230 233 ----------------------------------------------------------- -------------------------------- Total 1,645 1,805 1,982 2,568 2,002 2,640 2,734 2,687 =========================================================== ================================ Percentage Utilization 86% 95% 90% 89% 90% 92% 96% 94% ----------------------------------------------------------- -------------------------------- Refined Products Production (MB/D) Gasoline 779 857 922 1,228 948 1,202 1,209 1,205 Distillates 418 435 488 726 517 773 792 783 Aviation Fuel 149 156 188 206 175 214 188 200 Other 291 347 375 467 371 501 575 538 ----------------------------------------------------------- -------------------------------- Total 1,637 1,795 1,973 2,627 2,011 2,690 2,764 2,726 =========================================================== ================================ U.S. PETROLEUM PRODUCTS SALES (MB/D)* Gasoline 1,084 1,159 1,195 1,478 1,230 1,331 1,381 1,356 Distillates 439 424 449 692 502 600 590 595 Aviation Fuel 162 185 219 172 185 164 164 164 Other 398 341 350 403 372 509 493 501 ----------------------------------------------------------- -------------------------------- Total 2,083 2,109 2,213 2,745 2,289 2,604 2,628 2,616 =========================================================== ================================ *2002 amounts restated. INTERNATIONAL PETROLEUM PRODUCTS SALES (MB/D) Gasoline 12 12 78 163 67 202 190 196 Distillates 20 21 84 147 69 181 199 190 Aviation Fuel - - 2 6 2 5 7 6 Other 22 17 37 24 24 40 52 46 ----------------------------------------------------------- -------------------------------- Total 54 50 201 340 162 428 448 438 =========================================================== ================================ SPECIALTIES Base Oil Production(MB/D) United States - Equity Affiliate - - 3 10 3 10 7 8 ----------------------------------------------------------- -------------------------------- Petroleum Coke Sales (MMT)* United States Fuel coke 297 311 500 565 1,673 683 653 1,336 Specialty coke 56 57 196 292 601 276 282 558 ----------------------------------------------------------- -------------------------------- International Fuel coke - - 12 54 66 57 50 107 Specialty coke - - 68 180 248 176 180 356 ----------------------------------------------------------- -------------------------------- Finished Lubes Sales (MB/D)* United States 8 9 9 10 9 10 10 10 ----------------------------------------------------------- -------------------------------- International - - - 1 - 1 - 1 ----------------------------------------------------------- -------------------------------- *Included in "Other" in the petroleum products sales statistics above. Page 10 of 13
MIDSTREAM 2002 2003 ---------------------------------- -------------------------------- 1st 2nd Qtr3rd Qtr4th Qtr YTD 1st Qtr2nd Qtr 3rd 4th YTD Qtr Qtr Qtr ---------------------------------- -------------------------------- Midstream Net Income ($ Millions) 12 12 11 20 55 31 25 56 ============================================================================================= U.S. Equity Affiliate ($ Millions)* 5 7 6 5 23 13 23 36 ------------------------------------------------------------ -------------------------------- Natural Gas Liquids Extracted (MB/D) Consolidated United States - - 19 56 19 51 53 52 International - - 15 45 15 47 35 41 Equity Affiliates United States* 118 119 120 119 119 114 110 112 International - - 3 10 3 10 11 11 ------------------------------------------------------------ -------------------------------- Total 118 119 157 230 156 222 209 216 ============================================================ ================================ * Represents 30.3 percent interest in Duke Energy Field Services, LLC (DEFS). Natural Gas Liquids Fractionated (MB/D) United States 107 104 139 179 133 168 158 163 ------------------------------------------------------------ -------------------------------- Product Prices Weighted Average NGL ($/bbl)* Consolidated - - 18.57 19.24 19.07 25.59 20.99 23.29 DEFS 12.83 15.59 16.32 18.95 15.92 24.53 20.53 22.53 ------------------------------------------------------------ -------------------------------- * Prices are based on index prices from the Mont Belvieu and Conway market hubs that are weighted by natural gas liquids component and location mix. Depreciation, Depletion & Amortization ($ Millions) 1 - 5 13 19 14 14 28 ------------------------------------------------------------ -------------------------------- EMERGING BUSINESSES 2002 2003 ---------------------------------- -------------------------------- 1st 2nd Qtr3rd Qtr4th Qtr YTD 1st Qtr2nd Qtr 3rd 4th YTD Qtr Qtr Qtr ---------------------------------- -------------------------------- Emerging Businesses Net Income (Loss) ($ Millions)* (5) (3) (262) (40) (310) (34) (23) (57) ============================================================================================= Detail of Net Income (Loss) ($ Millions) Carbon Fibers - - (4) (11) (15) (6) - (6) Fuels Technology (5) (3) (4) (4) (16) (5) (6) (11) Gas-to-Liquids* - - (253) (20) (273) (20) (13) (33) Power - - (1) (2) (3) 1 (1) - Other - - - (3) (3) (4) (3) (7) ------------------------------------------------------------ -------------------------------- Total (5) (3) (262) (40) (310) (34) (23) (57) ============================================================ ================================ * Third quarter 2002 results include a $246 million write down of acquired in- process R&D. CORPORATE AND OTHER 2002 2003 ---------------------------------- -------------------------------- 1st 2nd Qtr3rd Qtr4th Qtr YTD 1st Qtr2nd Qtr 3rd 4th YTD Qtr Qtr Qtr ---------------------------------- -------------------------------- Corporate and Other Net Income (Loss) ($ Millions) (153) (72) (385)(1,308)(1,918) (190) (247) (437) ============================================================================================= Detail of Net Income (Loss) ($ Millions) Net Interest Expense (78) (91) (83) (160) (412) (167) (137) (304) Corporate Overhead (47) (27) (32) (67) (173) (35) (38) (73) Discontinued operations Impairments and loss accruals - - (69)(1,008)(1,077) (25) (24) (49) Operating results (4) 39 27 22 84 47 83 130 Merger-related costs (2) (1) (221) (83) (307) (27) (115) (142) Other (22) 8 (7) (12) (33) 17 (16) 1 ------------------------------------------------------------ -------------------------------- Total (153) (72) (385)(1,308)(1,918) (190) (247) (437) ============================================================ ================================ Before-Tax Net Interest Expense ($ Millions) Interest Expense (158) (157) (193) (291) (799) (283) (268) (551) Capitalized Interest 51 51 59 72 233 74 83 157 Interest Revenue 4 2 13 21 40 3 1 4 Premium on early debt retirement - (21) - (3) (24) (12) (11) (23) ------------------------------------------------------------ -------------------------------- (103) (125) (121) (201) (550) (218) (195) (413) ============================================================ ================================ Debt Total Debt ($ Millions) 8,902 9,635 20,453 19,766 19,766 18,240 17,569 17,569 Debt-to-Capital Ratio 37.6% 39.4% 39.8% 39.3% 39.3% 36.4% 34.7% 34.7% ------------------------------------------------------------ -------------------------------- Page 11 of 13
SELECTED PRO FORMA STATISTICS (E&P) 2002 2003 -------------------------------- ---------------------------------- 1st 2nd 3rd Qtr 4th YTD 1st 2nd 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr Qtr Qtr -------------------------------- ---------------------------------- 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 1,636 1,629 ---------------------------------------------------------- ---------------------------------- Crude Oil and Condensate (MB/D) Consolidated U.S. 424 406 370 381 395 397 388 392 Norway 200 208 219 233 215 226 214 220 United Kingdom 81 78 63 86 77 87 82 85 Canada 46 45 42 37 42 33 31 32 Nigeria 40 34 35 38 37 38 39 38 China 13 11 12 11 12 23 27 25 Indonesia 26 23 22 13 21 21 17 19 Other 52 50 48 55 51 55 52 54 Equity affiliates 91 84 104 87 92 55 117 86 ---------------------------------------------------------- ---------------------------------- Total 973 939 915 941 942 935 967 951 ========================================================== ================================== Natural Gas Liquids (MB/D) U.S. 48 46 42 45 45 44 44 44 International 24 22 24 25 24 23 23 23 ---------------------------------------------------------- ---------------------------------- Total 72 68 66 70 69 67 67 67 ========================================================== ================================== Natural Gas (MMCF/D) Consolidated U.S. 1,635 1,566 1,578 1,548 1,581 1,527 1,473 1,499 Norway 291 290 252 232 266 305 273 289 United Kingdom 869 856 603 975 826 1,002 952 977 Canada 548 565 512 442 517 436 424 430 Indonesia 179 169 189 220 189 224 246 235 Other 120 95 105 112 108 111 117 115 Equity affiliates 12 13 13 13 13 12 11 11 ---------------------------------------------------------- ---------------------------------- Total 3,654 3,554 3,252 3,542 3,500 3,617 3,496 3,556 ========================================================== ================================== Canadian Syncrude (MB/D) 22 20 23 22 22 17 19 18 ---------------------------------------------------------- ---------------------------------- E&P Average Realized Prices Crude Oil and Condensate ($/bbl) Consolidated U.S. 18.66 24.33 25.85 26.36 23.69 31.47 27.21 29.34 Norway 20.77 24.42 26.78 26.35 24.61 32.72 26.28 29.39 United Kingdom 19.78 23.69 26.15 25.98 23.99 30.11 24.34 27.25 Canada 19.39 21.79 24.96 21.26 21.82 28.40 23.61 26.07 Nigeria 21.33 25.16 27.40 26.97 25.12 31.94 26.35 28.87 China 19.57 25.27 26.31 29.64 25.03 28.87 26.51 27.57 Indonesia 19.38 24.46 24.21 30.59 23.51 29.35 24.54 27.20 Other 19.39 24.66 25.55 25.18 23.58 29.10 25.38 27.25 Equity affiliates 13.40 18.26 19.06 17.50 17.14 20.97 16.85 18.02 Total 18.93 23.71 25.24 25.31 23.26 30.73 25.19 27.82 ---------------------------------------------------------- ---------------------------------- Natural Gas Liquids ($/bbl) U.S. 12.92 17.05 16.78 19.27 16.44 25.13 19.33 22.11 International 9.86 15.62 18.56 19.39 15.95 24.22 18.96 21.54 Total 11.67 16.49 17.57 19.32 16.24 24.73 19.17 21.86 ---------------------------------------------------------- ---------------------------------- Natural Gas ($/mcf) Consolidated U.S. 2.26 2.80 2.71 3.38 2.78 5.34 4.58 4.96 Norway 3.20 2.99 3.26 3.33 3.19 3.66 3.86 3.75 United Kingdom 3.43 2.37 1.95 3.20 2.81 3.55 3.17 3.36 Canada 1.74 2.50 2.13 3.37 2.40 5.42 4.34 4.89 Indonesia 3.16 4.13 4.13 4.11 3.89 4.66 4.16 4.40 Other 0.41 0.39 0.41 0.45 0.42 0.48 0.48 0.48 Equity affiliates 2.17 2.60 1.78 3.00 2.39 4.82 4.89 4.85 Total 2.53 2.66 2.52 3.27 2.75 4.49 3.93 4.21 ---------------------------------------------------------- ---------------------------------- Note: Pro forma information derived by summing the historical Phillips and Conoco data for the period indicated. Page 12 of 13
SELECTED PRO FORMA STATISTICS (Midstream and R&M) 2002 2003 --------------------------------- --------------------------------- 1st 2nd Qtr 3rd 4th Qtr YTD 1st 2nd Qtr 3rd 4th YTD Qtr Qtr Qtr Qtr Qtr --------------------------------- --------------------------------- Midstream Natural Gas Liquids Extracted (MB/D) Consolidated United States 49 52 50 56 52 51 53 52 International 42 42 46 45 44 47 35 41 Equity Affiliates United States* 118 119 120 119 119 114 110 112 International 9 9 9 10 9 10 11 11 ----------------------------------------------------------- --------------------------------- Total 218 222 225 230 224 222 209 216 =========================================================== ================================= * Represents 30.3 percent interest in Duke Energy Field Services, LLC (DEFS). Natural Gas Liquids Fractionated (MB/D) United States 166 159 177 179 170 168 158 163 ----------------------------------------------------------- --------------------------------- Product Prices Weighted Average NGL ($/bbl)* Consolidated 13.23 15.99 16.69 19.24 16.31 25.59 20.99 23.29 DEFS 12.83 15.59 16.32 18.95 15.92 24.53 20.53 22.53 ----------------------------------------------------------- --------------------------------- * 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 348 404 338 399 372 415 435 425 Other Feed and Blending Stocks 53 47 16 61 44 51 53 52 ----------------------------------------------------------- --------------------------------- Total 401 451 354 460 416 466 488 477 =========================================================== ================================= Percentage Utilization 81% 94% 79% 93% 87% 97% 101% 99% ----------------------------------------------------------- --------------------------------- U.S. Gulf Coast Crude Oil 648 669 675 652 661 668 702 685 Other Feed and Blending Stocks 116 96 90 101 101 103 95 99 ----------------------------------------------------------- --------------------------------- Total 764 765 765 753 762 771 797 784 =========================================================== ================================= Percentage Utilization 91% 94% 94% 91% 93% 93% 98% 96% ----------------------------------------------------------- --------------------------------- Central U.S. Crude Oil 568 664 624 633 622 631 663 647 Other Feed and Blending Stocks 25 23 22 46 29 32 24 28 ----------------------------------------------------------- --------------------------------- Total 593 687 646 679 651 663 687 675 =========================================================== ================================= Percentage Utilization 85% 96% 91% 92% 91% 92% 96% 94% ----------------------------------------------------------- --------------------------------- Western U.S. Crude Oil 306 320 330 320 319 294 328 311 Other Feed and Blending Stocks (3) 16 13 16 11 9 13 11 ----------------------------------------------------------- --------------------------------- Total 303 336 343 336 330 303 341 322 =========================================================== ================================= Percentage Utilization 92% 96% 99% 96% 96% 88% 99% 93% ----------------------------------------------------------- --------------------------------- Total U.S. Crude Oil 1,870 2,057 1,967 2,004 1,975 2,008 2,128 2,068 Other Feed and Blending Stocks 191 182 141 224 184 195 185 190 ----------------------------------------------------------- --------------------------------- Total 2,061 2,239 2,108 2,228 2,159 2,203 2,313 2,258 =========================================================== ================================= Percentage Utilization 87% 95% 91% 93% 92% 93% 98% 95% ----------------------------------------------------------- --------------------------------- United Kingdom and Ireland Crude Oil 279 260 273 177 247 262 244 253 Other Feed and Blending Stocks 18 27 43 30 30 39 42 41 ----------------------------------------------------------- --------------------------------- Total 297 287 316 207 277 301 286 294 =========================================================== ================================= Percentage Utilization 92% 86% 90% 58% 81% 86% 80% 83% ----------------------------------------------------------- --------------------------------- Equity Affiliates -- Net Share -- International* Crude Oil 119 127 127 130 126 134 132 133 Other Feed and Blending Stocks 4 6 4 3 4 2 3 2 ----------------------------------------------------------- --------------------------------- Total 123 133 131 133 130 136 135 135 =========================================================== ================================= Percentage Utilization 88% 93% 93% 94% 92% 98% 97% 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 2,504 2,454 Other Feed and Blending Stocks 213 215 188 257 218 236 230 233 ----------------------------------------------------------- --------------------------------- Total 2,481 2,659 2,555 2,568 2,566 2,640 2,734 2,687 =========================================================== ================================= Percentage Utilization 88% 94% 91% 89% 90% 92% 96% 94% ----------------------------------------------------------- --------------------------------- U.S. Petroleum Products Sales (MB/D) Gasoline 1,375 1,461 1,417 1,478 1,433 1,331 1,381 1,356 Distillates 653 650 602 692 649 600 590 595 Aviation Fuel 231 259 268 172 232 164 164 164 Other 524 479 456 403 465 509 493 501 ----------------------------------------------------------- --------------------------------- Total 2,783 2,849 2,743 2,745 2,780 2,604 2,628 2,616 =========================================================== ================================= Note: Pro forma information derived by summing the historical Phillips and Conoco data for the period indicated. Page 13 of 13