EX-99.2 3 a5316939ex992.txt EXHIBIT 99.2 Exhibit 99.2 CONOCOPHILLIPS HOUSTON, TEXAS 77079 FINANCIAL AND OPERATIONAL TABLES Preliminary FINANCIAL HIGHLIGHTS
Millions of Dollars Three Months Ended Twelve Months Ended December 31 December 31 2006 2005 2006 2005 ---- ---- ---- ---- Revenues and other income Sales and other operating revenues* $ 41,519 51,258 183,650 179,442 Equity in earnings of affiliates 868 831 4,188 3,457 Other income 148 84 685 465 ----------- ------ ------- ------- 42,535 52,173 188,523 183,364 ----------- ------ ------- ------- Costs and expenses Purchased crude oil, natural gas and products 25,445 36,322 118,899 124,925 Production and operating expenses 2,864 2,481 10,413 8,562 Selling, general and administrative expenses 650 557 2,476 2,247 Exploration expenses 391 229 834 661 Depreciation, depletion and amortization 2,002 1,178 7,284 4,253 Impairments 366 11 683 42 Taxes other than income taxes* 4,526 4,598 18,187 18,356 Accretion on discounted liabilities 74 58 281 193 Interest and debt expense 304 110 1,087 497 Foreign currency transaction losses (gains) (20) (4) (30) 48 Minority interests 16 12 76 33 ----------- ------ ------- ------- 36,618 45,552 160,190 159,817 ----------- ------ ------- ------- Income from continuing operations before income taxes 5,917 6,621 28,333 23,547 Provision for income taxes 2,720 2,839 12,783 9,907 ----------- ------ ------- ------- Income from continuing operations 3,197 3,782 15,550 13,640 Income (loss) from discontinued operations -- (15) -- (23) ----------- ------ ------- ------- Income before cumulative effect of changes in acccounting principles 3,197 3,767 15,550 13,617 Cumulative effect of changes in accounting principles -- (88) -- (88) ----------- ------ ------- ------- Net income $ 3,197 3,679 15,550 13,529 =========== ===== ====== ====== Income per share of common stock (dollars) Basic Continuing operations $ 1.94 2.73 9.80 9.79 Discontinued operations -- (0.01) -- (0.02) ----------- ------ ------- ------- Before cumulative effect of changes in acccounting principles 1.94 2.72 9.80 9.77 Cumulative effect of changes in accounting principles -- (0.06) -- (0.06) ----------- ------ ------- ------- Net income $ 1.94 2.66 9.80 9.71 =========== ==== ==== ==== Diluted Continuing operations $ 1.91 2.69 9.66 9.63 Discontinued operations -- (0.01) -- (0.02) ----------- ------ ------- ------- Before cumulative effect of changes in acccounting principles 1.91 2.68 9.66 9.61 Cumulative effect of changes in accounting principles -- (0.07) -- (0.06) ----------- ------ ------- ------- Net income $ 1.91 2.61 9.66 9.55 =========== ==== ==== ==== Average common shares outstanding (in thousands) Basic 1,649,960 1,385,034 1,585,982 1,393,371 Diluted 1,672,375 1,407,375 1,609,530 1,417,028 *Includes excise taxes on petroleum products sales: $ 4,062 4,252 16,072 17,037
1 CONOCOPHILLIPS HOUSTON, TEXAS 77079 Preliminary SELECTED FINANCIAL DATA
Millions of Dollars Three Months Ended Twelve Months Ended December 31 December 31 2006 2005 2006 2005 ---- ---- ---- ---- INCOME (LOSS) FROM CONTINUING OPERATIONS E&P United States $ 872 1,325 4,348 4,290 International 1,215 1,105 5,500 4,144 ------- ------- ------- ------- Total E&P 2,087 2,430 9,848 8,434 ------- ------- ------- ------- Midstream 89 147 476 688 ------- ------- ------- ------- R&M United States 741 805 3,915 3,407 International 178 251 566 849 ------- ------- ------- ------- Total R&M 919 1,056 4,481 4,256 ------- ------- ------- ------- LUKOIL Investment 302 189 1,425 714 Chemicals 98 114 492 323 Emerging Businesses 8 (4) 15 (20) Corporate and other (306) (150) (1,187) (755) ------- ------- ------- ------- Consolidated $ 3,197 3,782 15,550 13,640 ======= ======= ======= ======= INCOME (LOSS) FROM DISCONTINUED OPERATIONS Corporate and other $ -- (15) -- (23) CUMULATIVE EFFECT OF ACCOUNTING CHANGES E&P United States $ -- (2) -- (2) International -- (2) -- (2) ------- ------- ------- ------- Total E&P -- (4) -- (4) ------- ------- ------- ------- Midstream -- -- -- -- ------- ------- ------- ------- R&M United States -- (78) -- (78) International -- (5) -- (5) ------- ------- ------- ------- Total R&M -- (83) -- (83) ------- ------- ------- ------- LUKOIL Investment -- -- -- -- Chemicals -- -- -- -- Emerging Businesses -- (1) -- (1) Corporate and other -- -- -- -- ------- ------- ------- ------- Consolidated $ -- (88) -- (88) ======= ======= ======= ======= SUMMARY OF NET INCOME (LOSS) E&P United States $ 872 1,323 4,348 4,288 International 1,215 1,103 5,500 4,142 ------- ------- ------- ------- Total E&P 2,087 2,426 9,848 8,430 ------- ------- ------- ------- Midstream 89 147 476 688 ------- ------- ------- ------- R&M United States 741 727 3,915 3,329 International 178 246 566 844 ------- ------- ------- ------- Total R&M 919 973 4,481 4,173 ------- ------- ------- ------- LUKOIL Investment 302 189 1,425 714 Chemicals 98 114 492 323 Emerging Businesses 8 (5) 15 (21) Corporate and other (306) (165) (1,187) (778) ------- ------- ------- ------- Net Income $ 3,197 3,679 15,550 13,529 ======= ======= ======= =======
2 CONOCOPHILLIPS HOUSTON, TEXAS 77079 Preliminary SELECTED FINANCIAL DATA
Three Months Ended Twelve Months Ended December 31 December 31 2006 2005 2006 2005 ---- ---- ---- ---- INCOME FROM CONTINUING OPERATIONS Effective tax rate % 46.0 % 42.9 45.1 42.1 Millions of Dollars FOREIGN CURRENCY GAINS (LOSSES) AFTER-TAX E&P $ 3 1 (44) 7 Midstream -- -- -- 7 R&M 35 (3) 60 (52) LUKOIL Investment (2) -- -- (1) Chemicals -- -- -- -- Emerging Businesses 1 (1) 1 (1) Corporate and other 61 (15) 65 (42) ------- ------- ------- ------- $ 98 (18) 82 (82) ======= ======= ======= ======= CASH FLOWS FROM OPERATING ACTIVITIES Net Income $ 3,197 3,679 15,550 13,529 Depreciation, depletion and amortization 2,002 1,178 7,284 4,253 Impairments 366 11 683 42 Dry hole costs and leasehold impairments 210 138 351 349 Accretion on discounted liabilities 74 58 281 193 Deferred income taxes (56) 348 217 1,101 Undistributed equity earnings 62 (92) (945) (1,774) Net gain on asset dispositions (52) (14) (116) (278) Loss from discontinued operations -- 15 -- 23 Cumulative effect of changes in accounting principles -- 88 -- 88 Other 95 (140) (201) (139) Working capital adjustments (261) (595) (1,588) 246 ------- ------- ------- ------- Net cash provided by continuing operations 5,637 4,674 21,516 17,633 Net cash provided (used) by discontinued operations -- 1 -- (5) ------- ------- ------- ------- Net cash provided by operating activities $ 5,637 4,675 21,516 17,628 ======= ======= ======= ======= CAPITAL EXPENDITURES AND INVESTMENTS E&P United States $ 825 416 2,828 1,637 International 1,856 1,250 6,685 5,047 ------- ------- ------- ------- 2,681 1,666 9,513 6,684 Midstream 2 -- 4 839 R&M 532 663 3,016 1,738 LUKOIL Investment 753 637 2,715 2,160 Chemicals -- -- -- -- Emerging Businesses 37 -- 83 5 Corporate and other 78 81 265 194 ------- ------- ------- ------- $ 4,083 3,047 15,596 11,620 ======= ======= ======= ======= OTHER At December 31, 2006 At December 31, 2005 Total debt $ 27,134 12,516 Common stockholders' equity $ 82,646 52,731
3 CONOCOPHILLIPS HOUSTON, TEXAS 77079 Preliminary OPERATING HIGHLIGHTS BY SEGMENT
Three Months Ended Twelve Months Ended December 31 December 31 2006 2005 2006 2005 ---- ---- ---- ---- Thousands of Barrels Daily E&P Crude oil produced United States Alaska 257 291 263 294 Lower 48 113 54 104 59 ----- ----- ----- ----- 370 345 367 353 Norway 185 188 189 197 United Kingdom 56 62 56 60 Canada 27 22 25 23 China 36 23 33 23 Indonesia 10 13 12 15 Vietnam 23 37 25 29 Timor Sea 27 36 36 33 Libya 56 -- 50 -- Other 69 51 63 53 ----- ----- ----- ----- Total consolidated 859 777 856 786 Equity affiliates 113 116 116 121 ----- ----- ----- ----- Total Worldwide 972 893 972 907 ===== ===== ===== ===== Syncrude 26 20 21 19 ===== ===== ===== ===== Natural gas liquids produced United States Alaska* 17 21 17 20 Lower 48 72 31 62 30 ----- ----- ----- ----- 89 52 79 50 Norway 8 11 9 9 Canada 31 10 25 10 Timor Sea 15 19 18 16 Other 7 7 5 6 ----- ----- ----- ----- Total Worldwide 150 99 136 91 ===== ===== ===== ===== *Includes reinjected volumes sold lease-to-lease 11 13 11 9 Millions of Cubic Feet Daily Natural gas produced* United States Alaska 131 172 145 169 Lower 48 2,250 1,264 2,028 1,212 ----- ----- ----- ----- 2,381 1,436 2,173 1,381 Norway 291 264 270 272 United Kingdom 734 851 761 751 Canada 1,140 430 983 425 China 9 -- 7 -- Timor Sea 243 33 235 34 Indonesia 315 330 319 298 Vietnam 20 19 21 18 Libya 17 -- 4 -- Other 237 105 188 84 ----- ----- ----- ----- Total consolidated 5,387 3,468 4,961 3,263 Equity affiliates 7 3 9 7 ----- ----- ----- ----- Total Worldwide 5,394 3,471 4,970 3,270 ===== ===== ===== ===== *Represents quantities available for sale. Excludes gas equivalent of NGL shown above. Liquefied natural gas sales 470 118 423 117 LUKOIL Investment Production (MBOE/D)* 438 293 401 246 Refinery crude oil throughput (MB/D)* 220 156 179 122 *Represents our estimated net share of LUKOIL.
4 CONOCOPHILLIPS HOUSTON, TEXAS 77079 Preliminary OPERATING HIGHLIGHTS
Three Months Ended Twelve Months Ended December 31 December 31 2006 2005 2006 2005 ---- ---- ---- ---- E&P Per Unit Average sales prices Crude oil (per barrel) United States Alaska $ 57.00 57.61 62.66 52.24 Lower 48 51.26 46.62 57.04 45.24 Total U.S. 55.26 55.86 61.09 51.09 International 58.06 54.49 63.38 52.27 Total consolidated 56.87 55.06 62.39 51.74 Equity affiliates* 41.79 38.90 46.01 37.79 Total Worldwide 55.10 53.05 60.37 49.87 Natural gas-lease (per MCF) United States Alaska 4.05 3.01 3.59 2.75 Lower 48 5.85 9.37 6.14 7.28 Total U.S. 5.84 9.17 6.11 7.12 International 6.38 7.19 6.27 5.78 Total consolidated 6.13 7.96 6.20 6.32 Equity affiliates* 0.32 0.28 0.30 0.26 Total Worldwide 6.12 7.94 6.19 6.30 *Excludes our equity share of LUKOIL reported in the LUKOIL Investment segment. Midstream Thousands of Barrels Daily Natural gas liquids extracted Consolidated United States 21 22 22 22 International -- -- -- 25 Equity affiliates United States** 181 172 181 142 International 7 6 6 6 --------- -------- ------- ------ 209 200 209 195 ========= ======== ======= ====== **Represents 30.3 percent interest in DCP Midstream (DCP), through June 30, 2005, and 50 percent interest beginning in July 2005. Per Barrel U.S. product prices Weighted average NGL*** Consolidated $ 37.41 42.70 40.22 36.68 DCP 36.34 41.84 39.45 35.52 ***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.
5 CONOCOPHILLIPS HOUSTON, TEXAS 77079 Preliminary OPERATING HIGHLIGHTS
Three Months Ended Twelve Months Ended December 31 December 31 2006 2005 2006 2005 ---- ---- ---- ---- Thousands of Barrels Daily R&M United States Crude oil capacity 2,208 2,182 2,208 2,180 Crude oil runs 2,128 1,853 2,025 1,996 Refinery production 2,325 2,037 2,213 2,186 International* Crude oil capacity 693 428 651 428 Crude oil runs 605 435 591 424 Refinery production 633 458 618 439 U.S. petroleum products outside sales Automotive gasoline 1,416 1,368 1,336 1,374 Distillates 707 653 655 675 Aviation fuels 214 189 195 201 Other products 535 521 531 519 ----- ------ ----- ----- 2,872 2,731 2,717 2,769 International 720 490 759 482 ----- ----- ----- ----- 3,592 3,221 3,476 3,251 ===== ===== ===== ===== Per Gallon U.S. average sales prices** Automotive gasoline-wholesale $1.74 1.77 2.04 1.73 Automotive gasoline-retail 1.89 1.96 2.18 1.88 Distillates-wholesale 1.95 2.06 2.11 1.80
* Includes ConocoPhillips' share of equity affiliates, except for our share of LUKOIL, which is reported in the LUKOIL Investment segment. ** Excludes excise taxes. 6