Segment Disclosures and Related Information

9 Months Ended

Sep. 30, 2015

Segment Disclosures and Related Information [Abstract]

Segment Disclosures and Related Information

Note 18—Segment Disclosures and Related Information

We explore for, produce, transport and market crude oil, bitumen, natural gas, LNG and natural gas liquids on a worldwide basis. We manage our operations through six operating segments, which are primarily defined by geographic region: Alaska, Lower 48, Canada, Europe, Asia Pacific and Middle East, and Other International.

After agreeing to sell our Nigeria business in 2012, we completed the sale in the third quarter of 2014. Results for these operations have been reported as discontinued operations in all periods presented.

Corporate and Other represents costs not directly associated with an operating segment, such as most interest expense, corporate overhead and certain technology activities, including licensing revenues. Corporate assets include all cash and cash equivalents.

We evaluate performance and allocate resources based on net income attributable to ConocoPhillips. Intersegment sales are at prices that approximate market.

Effective November 1, 2015, the Other International and Europe segments will be restructured to align with changes to our internal organization structure. The Libya business will be moved from the Other International segment to the Europe segment, which will be renamed Europe and North Africa. Accordingly, results of operations for the Other International and Europe segments will be revised for current and prior periods beginning in the fourth quarter of 2015. There is no expected impact on our consolidated financial statements, and the impact on our segment presentation is expected to be immaterial.

Analysis of Results by Operating Segment
		Millions of Dollars
		Three Months Ended			Nine Months Ended
		September 30			September 30
			2015	2014	2015	2014
Sales and Other Operating Revenues
Alaska		$	1,067	2,094	3,455	6,687
Lower 48			3,106	5,082	9,421	17,196
Intersegment eliminations			(15)	(28)	(50)	(88)
	Lower 48		3,091	5,054	9,371	17,108
Canada			576	1,086	1,932	4,113
Intersegment eliminations			(76)	(128)	(265)	(618)
	Canada		500	958	1,667	3,495
Europe			1,480	2,241	4,809	8,195
Intersegment eliminations			(2)	(3)	(3)	(47)
	Europe		1,478	2,238	4,806	8,148
Asia Pacific and Middle East			1,074	1,658	3,748	5,758
Other International			-	60	(5)	65
Corporate and Other			52	18	229	55
Consolidated sales and other operating revenues		$	7,262	12,080	23,271	41,316

Net Income (Loss) Attributable to ConocoPhillips
Alaska	$	53	473	393	1,698
Lower 48		(852)	32	(1,550)	621
Canada		(145)	307	(469)	845
Europe		(4)	213	670	819
Asia Pacific and Middle East		258	749	981	2,336
Other International		(43)	(18)	(284)	74
Corporate and Other		(338)	(130)	(719)	(616)
Discontinued operations		-	1,078	-	1,131
Consolidated net income (loss) attributable to ConocoPhillips	$	(1,071)	2,704	(978)	6,908

	Millions of Dollars
	September 30		December 31
	2015		2014
Total Assets
Alaska	$	13,212	12,655
Lower 48		28,629	30,185
Canada		18,999	21,764
Europe		14,269	16,125
Asia Pacific and Middle East		24,114	25,976
Other International		1,674	1,961
Corporate and Other		5,052	7,815
Discontinued operations		-	58
Consolidated total assets	$	105,949	116,539