EX-99.2 3 a50914979ex99_2.htm EXHIBIT 99.2

Exhibit 99.2

Second-Quarter 2014 Detailed Supplemental Information
2013   2014
1st Qtr   2nd Qtr   3rd Qtr   4th Qtr   YTD 1st Qtr   2nd Qtr  

3rd Qtr

  4th Qtr   YTD
$ Millions, Except as Indicated                
CONSOLIDATED INCOME STATEMENT
 
Revenues and Other Income
Sales and other operating revenues 14,166 13,350 13,643 13,254 54,413 15,415 13,821 29,236
Equity in earnings of affiliates 362 494 709 654 2,219 572 672 1,244
Gain on dispositions 58 95 1,069 20 1,242 9 7 16
Other income 65     203     49     57     374   52     201             253  
Total Revenues and Other Income 14,651     14,142     15,470     13,985     58,248   16,048     14,701             30,749  
 
Costs and Expenses
Purchased commodities 5,834 5,521 5,708 5,580 22,643 7,127 5,495 12,622
Production and operating expenses 1,687 1,672 1,962 1,917 7,238 1,895 2,030 3,925
Selling, general and administrative expenses 165 193 249 247 854 182 218 400
Exploration expenses 277 321 313 321 1,232 296 517 813
Depreciation, depletion and amortization 1,807 1,832 1,902 1,893 7,434 1,892 2,070 3,962
Impairments 2 28 1 498 529 1 17 18
Taxes other than income taxes 892 642 664 686 2,884 651 612 1,263
Accretion on discounted liabilities 106 105 106 117 434 117 120 237
Interest and debt expense 130 139 151 192 612 171 155 326
Foreign currency transaction (gains) losses (36 )   (7 )   9     (24 )   (58 ) 18     7             25  
Total Costs and Expenses 10,864     10,446     11,065     11,427     43,802   12,350     11,241             23,591  
Income from continuing operations before income taxes 3,787 3,696 4,405 2,558 14,446 3,698 3,460 7,158
Provision for income taxes 1,763     1,630     1,966     1,050     6,409   1,581     1,395             2,976  
Income from continuing operations 2,024 2,066 2,439 1,508 8,037 2,117 2,065 4,182
Income from discontinued operations 129     (3 )   57     995     1,178   20     33             53  
Net Income 2,153 2,063 2,496 2,503 9,215 2,137 2,098 4,235
Less: net income attributable to noncontrolling interests (14 )   (13 )   (16 )   (16 )   (59 ) (14 )   (17 )           (31 )
Net Income Attributable to ConocoPhillips 2,139     2,050     2,480     2,487     9,156   2,123     2,081             4,204  
 

Net Income Attributable to ConocoPhillips

Per Share of Common Stock (dollars)
Basic
Continuing operations 1.64 1.66 1.96 1.20 6.47 1.70 1.65 3.36
Discontinued operations 0.10     -     0.05     0.81     0.96   0.02     0.03             0.04  
Net Income Attributable to ConocoPhillips
Per Share of Common Stock 1.74     1.66     2.01     2.01     7.43   1.72     1.68             3.40  
Diluted
Continuing operations 1.63 1.65 1.95 1.20 6.43 1.69 1.64 3.34
Discontinued operations 0.10     -     0.05     0.80     0.95   0.02     0.03             0.04  
Net Income Attributable to ConocoPhillips
Per Share of Common Stock 1.73     1.65     2.00     2.00     7.38   1.71     1.67             3.38  
 
Average Common Shares Outstanding (in thousands)
Basic 1,229,232 1,229,773 1,231,054 1,233,741 1,230,963 1,234,968 1,236,057 1,235,515
Diluted 1,235,907     1,237,157     1,240,365     1,241,112     1,239,803   1,242,667     1,245,155             1,245,211  
 
 
 
 
INCOME (LOSS) FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES
 
Alaska 842 1,060 787 860 3,549 930 973 1,903
 
Lower 48 223 336 349 244 1,152 516 434 950
 
Canada (117 ) 10 868 (87 ) 674 466 241 707
 
Europe 1,213 627 965 747 3,552 1,041 781 1,822
 
Asia Pacific and Middle East 1,393 1,416 1,120 1,173 5,102 1,093 1,233 2,326
 
Other International 416 395 607 (57 ) 1,361 (67 ) 99 32
 
Corporate and Other (183 ) (148 ) (291 ) (322 ) (944 ) (281 ) (301 ) (582 )
                                     
Consolidated 3,787     3,696     4,405     2,558     14,446   3,698     3,460             7,158  
 
 
 
 
EFFECTIVE INCOME TAX RATES FOR
CONTINUING OPERATIONS
 
Alaska* 35.5 % 35.7 % 37.1 % 35.4 % 35.9 % 35.6 % 35.6 % 35.6 %
 
Lower 48 52.8 % 30.4 % 40.1 % 15.5 % 34.5 % 37.3 % 38.7 % 37.9 %
 
Canada 213.7 % 52.2 % 26.0 % 29.3 % -6.6 % 23.7 % 24.0 % 23.8 %
 
Europe 62.6 % 58.1 % 70.2 % 70.0 % 65.4 % 66.7 % 66.8 % 66.7 %
 
Asia Pacific and Middle East 33.1 % 27.2 % 32.4 % 25.8 % 29.6 % 30.9 % 30.1 % 30.5 %
 
Other International 95.4 % 93.3 % 53.4 % 36.0 % 78.6 % 57.2 % -21.7 % -185.6 %
 
Corporate and Other 11.7 % -16.8 % 19.4 % 22.0 % 13.1 % 16.4 % 16.3 % 16.4 %
                                     
Consolidated 46.6 %   44.1 %   44.6 %   41.1 %   44.4 % 42.8 %   40.3 %           41.6 %
*Alaska including taxes other than income taxes 61.6 % 52.9 % 57.8 % 56.2 % 57.1 % 51.6 % 50.3 % 50.9 %
1 of 8

2013   2014
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
$ Millions
EARNINGS BY SEGMENT
 
Alaska 543 682 494 555 2,274 598 627 1,225
 
Lower 48 105 233 209 207 754 324 265 589
 
Canada 133 5 642 (62 ) 718 356 182 538
 
Europe 454 263 288 224 1,229 347 259 606
 
Asia Pacific and Middle East 918 1,017 741 856 3,532 742 845 1,587
 
Other International 19 26 283 (37 ) 291 (29 ) 121 92
 
Corporate and Other (162 ) (173 ) (234 ) (251 ) (820 ) (235 ) (251 ) (486 )
 
Discontinued Operations 129 (3 ) 57 995 1,178 20 33 53
                     
Consolidated 2,139   2,050   2,480   2,487   9,156   2,123   2,081       4,204  
 
 
 
 
 
SPECIAL ITEMS (AFTER-TAX)
 
Alaska - 97 - - 97 - - -
 
Lower 48 (60 ) 69 - - 9 (122 ) - (122 )
 
Canada 224 - 461 (129 ) 556 - (109 ) (109 )
 
Europe 83 - - (107 ) (24 ) - - -
 
Asia Pacific and Middle East - 146 (116 ) - 30 (28 ) - (28 )
 
Other International - - 288 - 288 - 154 154
 
Corporate and Other 11 (9 ) (31 ) (10 ) (39 ) - - -
 
Discontinued Operations 129 (3 ) 57 995 1,178 20 33 53
                     
Consolidated 387   300   659   749   2,095   (130 ) 78       (52 )
 
 
 
 
 
ADJUSTED EARNINGS
 
Alaska 543 585 494 555 2,177 598 627 1,225
 
Lower 48 165 164 209 207 745 446 265 711
 
Canada (91 ) 5 181 67 162 356 291 647
 
Europe 371 263 288 331 1,253 347 259 606
 
Asia Pacific and Middle East 918 871 857 856 3,502 770 845 1,615
 
Other International 19 26 (5 ) (37 ) 3 (29 ) (33 ) (62 )
 
Corporate and Other (173 ) (164 ) (203 ) (241 ) (781 ) (235 ) (251 ) (486 )
                     
Consolidated 1,752   1,750   1,821   1,738   7,061   2,253   2,003       4,256  
 
 
 
 
 
ADJUSTED EFFECTIVE INCOME TAX RATES FOR
CONTINUING OPERATIONS
 
Alaska 35.5 % 35.6 % 37.1 % 35.4 % 35.9 % 35.6 % 35.6 % 35.6 %
 
Lower 48 42.1 % 36.9 % 40.1 % 15.5 % 34.6 % 37.0 % 38.7 % 37.6 %
 
Canada 22.2 % 52.2 % 28.7 % 20.6 % 30.0 % 23.7 % 24.3 % 24.0 %
 
Europe 67.1 % 58.1 % 70.2 % 67.8 % 66.6 % 66.7 % 66.8 % 66.7 %
 
Asia Pacific and Middle East 34.1 % 31.2 % 31.5 % 25.8 % 30.3 % 30.1 % 30.1 % 30.1 %
 
Other International 95.4 % 93.3 % 102.6 % 36.0 % 99.6 % 57.2 % 39.3 % 49.2 %
 
Corporate and Other 11.0 % -19.6 % 15.5 % 21.2 % 11.0 % 16.4 % 16.3 % 16.4 %
                     
Consolidated 53.3 % 47.4 % 48.7 % 42.1 % 48.0 % 42.1 % 41.5 %     41.8 %
The income tax effects of the special items are calculated based on the statutory rate of the jurisdiction in which the discrete item resides.
2 of 8

2013   2014
$ Millions 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
DETAILED SPECIAL ITEMS (AFTER-TAX)
 
Alaska
Pending claims and settlements -   97   -   -   97   -   -       -  
Total -   97   -   -   97   -   -       -  
 
Lower 48
Gain (loss) on asset sales (39 ) 47 - - 8 - - -
Loss on capacity agreements - - - - - (83 ) - (83 )
Tax loss carryforward realization (21 ) 22 - - 1 - - -
Pending claims and settlements -   -   -   -   -   (39 ) -       (39 )
Total (60 ) 69   -   -   9   (122 ) -       (122 )
 
Canada
Gain (loss) on asset sales 224 - 461 - 685 - - -
Impairments - - - (162 ) (162 ) - (109 ) (109 )
FCCL IFRS depreciation adjustment -   -   -   33   33   -   -       -  
Total 224   -   461   (129 ) 556   -   (109 )     (109 )
 
Europe
Gain (loss) on asset sales 83 - - - 83 - - -
Impairments -   -   -   (107 ) (107 ) -   -       -  
Total 83   -   -   (107 ) (24 ) -   -       -  
 
Asia Pacific and Middle East
Qatar depreciation adjustment - - - - - (28 ) - (28 )
Pending claims and settlements -   146   (116 ) -   30   -   -       -  
Total -   146   (116 ) -   30   (28 ) -       (28 )
 
Other International
Gain (loss) on asset sales - - 288 - 288 - - -
Pending claims and settlements -   -   -   -   -   -   154       154  
Total -   -   288   -   288   -   154       154  
 
Corporate and Other
Gain (loss) on asset sales 11 - - - 11 - - -
Pension settlement expense - - (31 ) (10 ) (41 ) - - -
Pending claims and settlements -   (9 ) -   -   (9 ) -   -       -  
Total 11   (9 ) (31 ) (10 ) (39 ) -   -       -  
 
Discontinued Operations 129 (3 ) 57 995 1,178 20 33 53
 
Total Company 387   300   659   749   2,095   (130 ) 78       (52 )
3 of 8

2013   2014
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
$ Millions
CASH FLOW INFORMATION
 
Cash Flows from Operating Activities
Net income 2,153 2,063 2,496 2,503 9,215 2,137 2,098 4,235
Depreciation, depletion and amortization 1,807 1,832 1,902 1,893 7,434 1,892 2,070 3,962
Impairments 2 28 1 498 529 1 17 18
Dry hole costs and leasehold impairments 36 176 133 98 443 69 334 403
Accretion on discounted liabilities 106 105 106 117 434 117 120 237
Deferred taxes 241 443 458 169 1,311 230 403 633
Undistributed equity earnings (29 ) (199 ) (357 ) (237 ) (822 ) 1,131 (450 ) 681
Gain on dispositions (58 ) (95 ) (1,069 ) (20 ) (1,242 ) (9 ) (7 ) (16 )
Income from discontinued operations (129 ) 3 (57 ) (995 ) (1,178 ) (20 ) (33 ) (53 )
Other (503 ) 17 206 (91 ) (371 ) 116 (308 ) (192 )
Net working capital changes 982   (684 ) (175 ) (75 ) 48   614   (681 )     (67 )
Net cash provided by continuing operations 4,608 3,689 3,644 3,860 15,801 6,278 3,563 9,841
Net cash provided by discontinued operations 122   52   61   51   286   58   59       117  
Net Cash Provided by Operating Activities 4,730   3,741   3,705   3,911   16,087   6,336   3,622       9,958  
 
Cash Flows from Investing Activities
Capital expenditures and investments (3,391 ) (3,705 ) (4,185 ) (4,256 ) (15,537 ) (3,895 ) (4,246 ) (8,141 )
Proceeds from asset dispositions 1,134 542 1,499 7,045 10,220 48 15 63
Net sales (purchases) of short-term investments (23 ) (51 ) 75 (264 ) (263 ) 63 (71 ) (8 )

Long-term collections from related

parties and other investments

36   (11 ) 54   (146 ) (67 ) 108   65       173  
Net cash provided by (used in) continuing operations (2,244 ) (3,225 ) (2,557 ) 2,379 (5,647 ) (3,676 ) (4,237 ) (7,913 )
Net cash used in discontinued operations (189 ) (190 ) (161 ) (64 ) (604 ) (22 ) (28 )     (50 )
Net Cash Provided by (Used in) Investing Activities (2,433 ) (3,415 ) (2,718 ) 2,315   (6,251 ) (3,698 ) (4,265 )     (7,963 )
 
Cash Flows from Financing Activities
Repayment of debt (48 ) (850 ) (48 ) - (946 ) (450 ) - (450 )
Change in restricted cash 748 - - - 748 - - -
Issuance of company common stock (10 ) 5 17 8 20 (32 ) 78 46
Dividends paid (815 ) (814 ) (852 ) (853 ) (3,334 ) (855 ) (856 ) (1,711 )
Other (205 ) (186 ) (202 ) (3,028 ) (3,621 ) (17 ) (11 )     (28 )
Net cash used in continuing operations (330 ) (1,845 ) (1,085 ) (3,873 ) (7,133 ) (1,354 ) (789 ) (2,143 )
Net cash used in discontinued operations -   -   -   -   -   -   -       -  
Net Cash Used in Financing Activities (330 ) (1,845 ) (1,085 ) (3,873 ) (7,133 ) (1,354 ) (789 )     (2,143 )
 
Effect of Exchange Rate Changes (163 ) 6   72   10   (75 ) (10 ) 54       44  
 
Net Change in Cash and Cash Equivalents 1,804 (1,513 ) (26 ) 2,363 2,628 1,274 (1,378 ) (104 )
Cash and cash equivalents at beginning of period 3,618   5,422   3,909   3,883   3,618   6,246   7,520       6,246  
Cash and Cash Equivalents at End of Period 5,422   3,909   3,883   6,246   6,246   7,520   6,142       6,142  
 
 
 
 
CAPITAL PROGRAM
 
Capital expenditures and investments
Alaska 262 283 291 304 1,140 415 390 805
 
Lower 48 1,280 1,367 1,238 1,325 5,210 1,312 1,385 2,697
 
Canada 675 422 505 630 2,232 622 515 1,137
 
Europe 786 761 779 752 3,078 596 656 1,252
 
Asia Pacific and Middle East 337 827 1,142 1,076 3,382 848 1,094 1,942
 
Other International 24 18 187 84 313 67 172 239
 

Corporate and Other

27   27   43   85   182   35   34       69  
Total capital expenditures and investments 3,391   3,705   4,185   4,256   15,537   3,895   4,246       8,141  
 
Joint venture acquisition obligation (principal) - Canada* 189   192   194   197   772   -   -       -  
Total Capital Program 3,580   3,897   4,379   4,453   16,309   3,895   4,246       8,141  
Capital Program for Algeria, Nigeria and Kashagan: 189 190 161 69 609 22 28 50
*Excludes $2,810 million prepayment in the fourth quarter of 2013.
4 of 8

2013   2014
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
TOTAL SEGMENTS
 
 
Production
Total (MBOED)
Continuing operations, including equity affiliates 1,555 1,510 1,470 1,473 1,502 1,532 1,557 1,544
Discontinued operations (Algeria and Nigeria) 41 42 44 45 43 36 37     37
Total, including equity affiliates 1,596 1,552 1,514 1,518 1,545 1,568 1,594     1,581
 
Crude Oil (MBD)
Consolidated operations 606 565 532 543 562 581 576 578
Equity affiliates 20 20 20 17 19 18 20     19
Total continuing operations 626 585 552 560 581 599 596     597
Discontinued operations (Algeria and Nigeria) 20 18 19 15 18 8 9     9
Total 646 603 571 575 599 607 605     606
Over (under) lifting of crude oil (MBD)* (9) 4 19 11 6 (16) 4     (6)
*Includes continuing and discontinued operations.
 
NGL (MBD)
Consolidated operations 151 150 148 144 149 152 159 156
Equity affiliates 8 8 8 6 7 7 8     7
Total continuing operations 159 158 156 150 156 159 167     163
Discontinued operations (Nigeria) 3 3 4 4 3 3 3     3
Total 162 161 160 154 159 162 170     166
 
Bitumen (MBD)
Consolidated operations 13 12 13 13 13 13 14 13
Equity affiliates 96 88 94 106 96 111 114     113
Total 109 100 107 119 109 124 128     126
 
Natural Gas (MMCFD)
Consolidated operations 3,479 3,505 3,423 3,427 3,458 3,432 3,482 3,458
Equity affiliates 483 493 507 439 481 469 516     492
Total continuing operations 3,962 3,998 3,930 3,866 3,939 3,901 3,998     3,950
Discontinued operations (Nigeria) 110 128 125 155 129 149 151     150
Total 4,072 4,126 4,055 4,021 4,068 4,050 4,149     4,100
 
Industry Prices
Crude Oil ($/BBL)
WTI 94.29 94.12 105.80 97.38 97.90 98.75 103.05 100.90
WCS 62.41 75.06 88.35 65.26 72.77 75.55 82.94 79.25
Brent dated 112.55 102.44 110.32 109.27 108.65 108.22 109.63 108.93
JCC ($/BBL) 114.19 113.07 107.36 107.94 110.64 112.78 111.40 112.09
Natural Gas ($/MMBTU)
Henry Hub first of month 3.34 4.10 3.58 3.60 3.65 4.94 4.68     4.81
 
 
Average Realized Prices
Crude Oil ($/BBL)
Consolidated operations 106.17 100.31 106.85 100.67 103.50 101.71 103.48 102.61
Equity affiliates 100.27 93.41 99.41 98.81 97.92 97.83 100.80     99.41
Total continuing operations 105.97 100.07 106.60 100.61 103.32 101.59 103.39     102.51
Discontinued operations (Algeria and Nigeria) 112.62

103.45

110.28 110.29 109.72 108.81 113.07     110.98
Total 106.20 100.14 106.74 100.83 103.51 101.69 103.53     102.63
 
NGL ($/BBL)
Consolidated operations 40.87 36.21 39.44 41.89 39.60 44.86 38.71 41.66
Equity affiliates 77.32 64.63 69.90 83.05 73.31 79.91 68.84     73.71
Total continuing operations 42.95 37.80 41.14 43.82 41.42 46.52 40.36     43.31
Discontinued operations (Nigeria) 12.30 13.13 15.76 16.13 14.58 12.99 14.55     13.74
Total 42.41 37.24 40.47 43.07 40.79 45.85 39.93     42.76
 
Bitumen ($/BBL)
Consolidated operations 36.78 59.67 76.90 44.73 55.25 61.69 68.00 64.95
Equity affiliates 39.52 55.13 75.93 43.64 53.00 55.85 65.55     60.75
Total 39.23 55.69 76.06 43.76 53.27 56.47 65.82     61.21
 
Natural Gas ($/MCF)
Consolidated operations 5.75 5.88 5.49 5.73 5.71 7.15 6.29 6.72
Equity affiliates 9.36 8.84 9.35 8.29 8.98 10.43 10.46     10.45
Total continuing operations 6.19 6.25 5.99 6.02 6.11 7.55 6.82     7.18
Discontinued operations (Nigeria) 2.54 2.98 2.58 2.36 2.60 2.69 2.46     2.57
Total 6.09 6.15 5.88 5.88 6.00 7.37 6.66     7.01
 
 
Exploration Expenses ($ Millions)
Dry holes 4 98 101 65 268 23 145 168
Leasehold impairment 32 78 32 33 175 46 189     235
Total noncash expenses 36 176 133 98 443 69 334 403
Other (G&A, G&G and lease rentals) 241 145 180 223 789 227 183     410
Total exploration expenses 277 321 313 321 1,232 296 517     813
 
U.S. exploration expenses 152 196 165 178 691 150 242     392
International exploration expenses 125 125 148 143 541 146 275     421
 
DD&A ($ Millions)
Alaska 135 135 124 136 530 132 135 267
Lower 48 744 785 880 836 3,245 829 939 1,768
Canada 343 345 330 297 1,315 232 238 470
Europe 261 234 234 304 1,033 404 421 825
Asia Pacific and Middle East 293 298 303 291 1,185 268 310 578
Other International 11 12 5 2 30 1 - 1
Corporate and Other 20 23 26 27 96 26 27     53
Total DD&A 1,807 1,832 1,902 1,893 7,434 1,892 2,070     3,962
5 of 8

2013

  2014
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
PRODUCTION
 
 
Crude Oil (MBD)
Alaska 190 176 161 182 178 175 170 173
Lower 48 148 147 153 158 152 171 191 181
Canada 14 14 13 12 13 13 12 12
Norway 100 78 94 95 92 96 89 92
United Kingdom 24 22 17 23 21 39 37     38
Europe 124 100 111 118 113 135 126     130
Australia/Timor-Leste 13 15 13 10 13 12 9 10
China 57 56 51 48 53 58 50 54
Indonesia 9 7 8 7 8 10 7 9
Malaysia 7 6 5 7 6 6 10 8
Equity affiliates 15 15 16 13 15 14 16     15
AP/ME 101 99 93 85 95 100 92     96
Libya 44 44 17 1 26 1 1 1
Equity affiliates 5 5 4 4 4 4 4     4
Other International 49 49 21 5 30 5 5     5

Total continuing operations

626 585 552 560 581 599 596     597
Discontinued operations (Algeria and Nigeria) 20 18 19 15 18 8 9     9
Total 646 603 571 575 599 607 605     606
 
NGL (MBD)
Alaska 18 15 11 16 15 16 16 16
Lower 48 87 91 94 90 91 91 100 96
Canada 26 25 25 23 25 25 25 25
Norway 3 2 3 3 3 2 2 2
United Kingdom 3 3 2 3 3 5 5     5
Europe 6 5 5 6 6 7 7     7
Australia/Timor-Leste 10 10 9 7 9 8 6 7
Indonesia 4 4 4 2 3 5 5 5
Equity affiliates 8 8 8 6 7 7 8     7
AP/ME 22 22 21 15 19 20 19     19
Total continuing operations 159 158 156 150 156 159 167     163
Discontinued operations (Nigeria) 3 3 4 4 3 3 3     3
Total 162 161 160 154 159 162 170     166
 
Bitumen (MBD)
Consolidated operations 13 12 13 13 13 13 14 13
Equity affiliates 96 88 94 106 96 111 114     113
Total 109 100 107 119 109 124 128     126
 
Natural Gas (MMCFD)
Alaska 56 38 35 43 43 55 45 50
Lower 48 1,441 1,516 1,511 1,493 1,490 1,468 1,495 1,482
Canada 806 788 775 731 775 707 713 710
Norway 161 119 130 163 143 157 135 146
United Kingdom 300 290 227 277 273 315 345     330
Europe 461 409 357 440 416 472 480     476
Australia/Timor-Leste 251 272 268 255 262 263 277 270
China 4 6 4 4 4 3 3 3
Indonesia 428 447 439 452 442 457 463 460
Malaysia 1 1 1 1 1 3 5 5
Equity affiliates 483 493 507 439 481 469 516     492
AP/ME 1,167 1,219 1,219 1,151 1,190 1,195 1,264     1,230
Libya 31 28 33 8 25 4 1     2
Other International 31 28 33 8 25 4 1     2
Total continuing operations 3,962 3,998 3,930 3,866 3,939 3,901 3,998     3,950
Discontinued operations (Nigeria) 110 128 125 155 129 149 151     150
Total 4,072 4,126 4,055 4,021 4,068 4,050 4,149     4,100
 
Total (MBOED)
Alaska 218 197 178 205 200 200 193 197
Lower 48 475 491 499 497 491 507 540 524
Consolidated operations 187 183 180 170 180 169 170 169
Equity affiliates 96 88 94 106 96 111 114     113
Canada 283 271 274 276 276 280 284     282
Norway 130 100 119 125 119 124 114 118
United Kingdom 77 73 57 72 70 96 99     98
Europe 207 173 176 197 189 220 213     216
Australia/Timor-Leste 65 70 67 60 65 64 61 62
China 58 57 52 49 54 59 51 55
Indonesia 84 86 85 84 85 91 89 90
Malaysia 7 6 5 7 6 6 11 9
Equity affiliates 104 105 108 92 102 99 110     104
AP/ME 318 324 317 292 312 319 322     320
Libya 49 49 22 2 30 2 1 1
Equity affiliates 5 5 4 4 4 4 4     4
Other International 54 54 26 6 34 6 5     5
Total continuing operations 1,555 1,510 1,470 1,473 1,502 1,532 1,557     1,544
Discontinued operations (Algeria and Nigeria) 41 42 44 45 43 36 37     37
Total 1,596 1,552 1,514 1,518 1,545 1,568 1,594     1,581
6 of 8

2013   2014
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
AVERAGE REALIZED PRICES
 
 
Crude Oil ($/BBL)
Consolidated operations
Alaska 110.79 106.09 110.95 104.04 107.83 106.39 108.93 107.67
Lower 48 93.69 93.56 100.25 87.81 93.79 91.52 93.73 92.69
Canada 72.85 81.09 91.81 72.86 79.73 80.32 86.33 83.27
Norway 114.75 103.21 112.50 111.59 111.32 109.69 111.97 110.76
United Kingdom 111.07 101.67 110.62 108.94 107.57 107.37 110.01     108.70
Europe 114.11 102.74 112.28 110.96 110.56 109.05 111.38     110.17
Australia/Timor-Leste 107.76 97.11 103.84 107.26 104.17 106.36 105.31 105.76
China 110.91 98.58 106.36 106.17 105.50 105.62 106.18 105.92
Indonesia 93.32 83.15 93.35 95.66 91.37 92.82 94.82 93.70
Malaysia 119.87 108.67 114.90 118.29 115.44 115.35 114.51     114.94
AP/ME 109.35 97.77 105.43 106.43 104.78 104.92 105.65     105.30
Libya 112.18 102.82 107.49 - 107.21 - 107.33     107.33
Other International 112.18 102.82 107.49 - 107.21 - 107.33     107.33
Total consolidated operations 106.17 100.31 106.85 100.67 103.50 101.71 103.48     102.61
Equity affiliates 100.27 93.41 99.41 98.81 97.92 97.83 100.80     99.41
Total continuing operations 105.97 100.07 106.60 100.61 103.32 101.59 103.39     102.51
Discontinued operations (Algeria and Nigeria) 112.62 103.45 110.28 110.29 109.72 108.81 113.07     110.98
Total 106.20 100.14 106.74 100.83 103.51 101.69 103.53     102.63
 
NGL ($/BBL)
Consolidated operations
Lower 48 29.58 29.30 32.57 34.33 31.48 36.06 31.28 33.54
Canada 50.15 44.08 46.90 47.57 47.19 56.13 46.56 51.36
Norway 59.77 52.15 56.29 64.13 59.08 52.95 52.18 52.63
United Kingdom 60.61 46.32 58.58 61.69 57.48 64.99 59.48     62.22
Europe 60.10 49.29 57.36 63.01 58.36 60.48 57.32     58.99
Australia/Timor-Leste 77.42 67.48 71.92 81.14 74.79 78.51 72.80 75.24
Indonesia 78.10 64.58 69.97 72.47 71.23 82.11 69.07     75.86
AP/ME 77.59 66.54 71.35 79.29 73.82 80.07 71.52     75.48
Total consolidated operations 40.87 36.21 39.44 41.89 39.60 44.86 38.71     41.66
Equity affiliates 77.32 64.63 69.90 83.05 73.31 79.91 68.84     73.71
Total continuing operations 42.95 37.80 41.14 43.82 41.42 46.52 40.36     43.31
Discontinued operations (Nigeria) 12.30 13.13 15.76 16.13 14.58 12.99 14.55     13.74
Total 42.41 37.24 40.47 43.07 40.79 45.85 39.93     42.76
 
Bitumen ($/BBL)
Consolidated operations 36.78 59.67 76.90 44.73 55.25 61.69 68.00 64.95
Equity affiliates 39.52 55.13 75.93 43.64 53.00 55.85 65.55     60.75
Total 39.23 55.69 76.06 43.76 53.27 56.47 65.82     61.21
 
Natural Gas ($/MCF)
Consolidated operations
Alaska 5.20 4.03 4.09 3.74 4.35 5.22 6.03 5.59
Lower 48 3.19 3.85 3.39 3.55 3.50 5.08 4.43 4.75
Canada 2.89 3.28 2.42 3.09 2.92 5.81 4.13 4.96
Norway 10.69 10.42 11.11 11.24 10.89 11.16 9.19 10.23
United Kingdom 10.87 10.19 10.12 11.04 10.58 10.83 8.92     9.82
Europe 10.81 10.26 10.48 11.11 10.68 10.94 8.99     9.95
Australia/Timor-Leste* 1.10 1.11 1.81 1.09 1.28 1.09 1.11 1.10
China 2.50 2.52 2.54 3.30 2.70 1.66 2.49 2.06
Indonesia 11.57 10.56 11.01 10.04 10.78 10.24 10.21     10.23
AP/ME 11.20 10.62 10.81 9.83 10.61 10.32 10.32     10.32
Libya 4.86 4.65 5.92 7.37 5.38 6.65 -     6.65
Other International 4.86 4.65 5.92 7.37 5.38 6.65 -     6.65
Total consolidated operations 5.75 5.88 5.49 5.73 5.71 7.15 6.29     6.72
Equity affiliates 9.36 8.84 9.35 8.29 8.98 10.43 10.46     10.45
Total continuing operations 6.19 6.25 5.99 6.02 6.11 7.55 6.82     7.18
Discontinued operations (Nigeria) 2.54 2.98 2.58 2.36 2.60 2.69 2.46     2.57
Total 6.09 6.15 5.88 5.88 6.00 7.37 6.66     7.01
*Excludes transfers to Darwin LNG plant.
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2013   2014
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
CORPORATE AND OTHER
 
 
Corporate and Other Earnings (Loss) ($ Millions) (162 ) (173 ) (234 ) (251 ) (820 ) (235 ) (251 )     (486 )
 
 
Detail of Earnings (Loss) ($ Millions)
Net interest expense (108 ) (127 ) (124 ) (171 ) (530 ) (163 ) (158 ) (321 )
Corporate G&A expenses (27 ) (43 ) (77 ) (66 ) (213 ) (31 ) (51 ) (82 )
Technology* (8 ) 41 (26 ) (13 ) (6 ) (28 ) (20 ) (48 )
Other (19 ) (44 ) (7 ) (1 ) (71 ) (13 ) (22 )     (35 )
Total (162 ) (173 ) (234 ) (251 ) (820 ) (235 ) (251 )     (486 )
* Includes investment in new technologies or businesses outside of our normal scope of operations and is net of licensing revenues.
 
 
Before-Tax Net Interest Expense ($ Millions)
Interest expense (287 ) (303 ) (303 ) (306 ) (1,199 ) (291 ) (276 ) (567 )
Capitalized interest 179 186 172 130 667 120 121 241
Interest revenue 10   28   10   12   60   9   10       19  
Total (98 ) (89 ) (121 ) (164 ) (472 ) (162 ) (145 )     (307 )
 
Debt
Total debt ($ Millions) 21,670 21,721 21,668 21,662 21,662 21,206 21,234 21,234
Debt-to-capital ratio (%) 31 % 31 % 30 % 29 % 29 % 28 % 28 %     28 %
 
Equity ($ Millions) 49,240   48,932   51,537   52,492   52,492   53,621   55,686       55,686  

REFERENCE
 
Commonly Used Abbreviations
Earnings Net Income (Loss) Attributable to ConocoPhillips
DD&A Depreciation, Depletion and Amortization
G&G Geological and Geophysical
G&A General and Administrative
IFRS International Financial Reporting Standards
JCC Japan Crude Cocktail
LNG Liquefied Natural Gas
NGL Natural Gas Liquids
WCS Western Canada Select
WTI West Texas Intermediate
 
 
Units of Measure
BBL Barrels
MMBBL Millions of Barrels
MBD Thousands of Barrels per Day
MBOED Thousands of Barrels of Oil Equivalent per Day
MCF Thousands of Cubic Feet
MMBTU Millions of British Thermal Units
MMCFD Millions of Cubic Feet per Day

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