CONOCOPHILLIPS - FORM 8-K - EX-99.2 - EXHIBIT 99.2

Attached files

file	filename
8-K - CONOCOPHILLIPS 8-K - CONOCOPHILLIPS	a50971749.htm
EX-99.1 - EXHIBIT 99.1 - CONOCOPHILLIPS	a50971749ex99_1.htm

Exhibit 99.2

	Third-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		12,080			41,316
Equity in earnings of affiliates	362		494		709		654		2,219		572		672		764			2,008
Gain on dispositions	58		95		1,069		20		1,242		9		7		4			20
Other income	65		203		49		57		374		52		201		69			322
Total Revenues and Other Income	14,651		14,142		15,470		13,985		58,248		16,048		14,701		12,917			43,666

Costs and Expenses
Purchased commodities	5,834		5,521		5,708		5,580		22,643		7,127		5,495		4,703			17,325
Production and operating expenses	1,687		1,672		1,962		1,917		7,238		1,895		2,030		2,041			5,966
Selling, general and administrative expenses	165		193		249		247		854		182		218		203			603
Exploration expenses	277		321		313		321		1,232		296		517		459			1,272
Depreciation, depletion and amortization	1,807		1,832		1,902		1,893		7,434		1,892		2,070		2,096			6,058
Impairments	2		28		1		498		529		1		17		108			126
Taxes other than income taxes	892		642		664		686		2,884		651		612		493			1,756
Accretion on discounted liabilities	106		105		106		117		434		117		120		120			357
Interest and debt expense	130		139		151		192		612		171		155		149			475
Foreign currency transaction (gains) losses	(36	)	(7	)	9		(24	)	(58	)	18		7		(8	)		17
Total Costs and Expenses	10,864		10,446		11,065		11,427		43,802		12,350		11,241		10,364			33,955
Income from continuing operations before income taxes	3,787		3,696		4,405		2,558		14,446		3,698		3,460		2,553			9,711
Provision for income taxes	1,763		1,630		1,966		1,050		6,409		1,581		1,395		904			3,880
Income from continuing operations	2,024		2,066		2,439		1,508		8,037		2,117		2,065		1,649			5,831
Income from discontinued operations	129		(3	)	57		995		1,178		20		33		1,078			1,131
Net Income	2,153		2,063		2,496		2,503		9,215		2,137		2,098		2,727			6,962
Less: net income attributable to noncontrolling interests	(14	)	(13	)	(16	)	(16	)	(59	)	(14	)	(17	)	(23	)		(54	)
Net Income Attributable to ConocoPhillips	2,139		2,050		2,480		2,487		9,156		2,123		2,081		2,704			6,908

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		1.31			4.67
Discontinued operations	0.10		-		0.05		0.81		0.96		0.02		0.03		0.87			0.91
Net Income Attributable to ConocoPhillips
Per Share of Common Stock	1.74		1.66		2.01		2.01		7.43		1.72		1.68		2.18			5.58
Diluted
Continuing operations	1.63		1.65		1.95		1.20		6.43		1.69		1.64		1.31			4.63
Discontinued operations	0.10		-		0.05		0.80		0.95		0.02		0.03		0.86			0.91
Net Income Attributable to ConocoPhillips
Per Share of Common Stock	1.73		1.65		2.00		2.00		7.38		1.71		1.67		2.17			5.54

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		1,238,234			1,236,431
Diluted	1,235,907		1,237,157		1,240,365		1,241,112		1,239,803		1,242,667		1,245,155		1,247,436			1,246,788




INCOME (LOSS) FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES

Alaska	842		1,060		787		860		3,549		930		973		722		2,625

Lower 48	223		336		349		244		1,152		516		434		78		1,028

Canada	(117	)	10		868		(87	)	674		466		241		340		1,047

Europe	1,213		627		965		747		3,552		1,041		781		633		2,455

Asia Pacific and Middle East	1,393		1,416		1,120		1,173		5,102		1,093		1,233		1,058		3,384

Other International	416		395		607		(57	)	1,361		(67	)	99		10		42

Corporate and Other	(183	)	(148	)	(291	)	(322	)	(944	)	(281	)	(301	)	(288	)	(870	)

Consolidated	3,787		3,696		4,405		2,558		14,446		3,698		3,460		2,553		9,711




EFFECTIVE INCOME TAX RATES FOR
CONTINUING OPERATIONS

Alaska*	35.5	%	35.7	%	37.1	%	35.4	%	35.9	%	35.6	%	35.6	%	34.4	%	35.3	%

Lower 48	52.8	%	30.4	%	40.1	%	15.5	%	34.5	%	37.3	%	38.7	%	60.0	%	39.6	%

Canada	213.7	%	52.2	%	26.0	%	29.3	%	-6.6	%	23.7	%	24.0	%	9.7	%	19.2	%

Europe	62.6	%	58.1	%	70.2	%	70.0	%	65.4	%	66.7	%	66.8	%	66.4	%	66.6	%

Asia Pacific and Middle East	33.1	%	27.2	%	32.4	%	25.8	%	29.6	%	30.9	%	30.1	%	27.0	%	29.4	%

Other International	95.4	%	93.3	%	53.4	%	36.0	%	78.6	%	57.2	%	-21.7	%	296.5	%	-77.2	%

Corporate and Other	11.7	%	-16.8	%	19.4	%	22.0	%	13.1	%	16.4	%	16.3	%	55.0	%	29.2	%

Consolidated	46.6	%	44.1	%	44.6	%	41.1	%	44.4	%	42.8	%	40.3	%	35.4	%	40.0	%
*Alaska including taxes other than income taxes	61.6	%	52.9	%	57.8	%	56.2	%	57.1	%	51.6	%	50.3	%	48.6	%	50.3	%

Page 1

	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		473			1,698

Lower 48	105		233		209		207		754		324		265		32			621

Canada	133		5		642		(62	)	718		356		182		307			845

Europe	454		263		288		224		1,229		347		259		213			819

Asia Pacific and Middle East	918		1,017		741		856		3,532		742		845		749			2,336

Other International	19		26		283		(37	)	291		(29	)	121		(18	)		74

Corporate and Other	(162	)	(173	)	(234	)	(251	)	(820	)	(235	)	(251	)	(130	)		(616	)

Discontinued Operations	129		(3	)	57		995		1,178		20		33		1,078			1,131

Consolidated	2,139		2,050		2,480		2,487		9,156		2,123		2,081		2,704			6,908





SPECIAL ITEMS (AFTER-TAX)

Alaska	-		97		-		-		97		-		-		-			-

Lower 48	(60	)	69		-		-		9		(122	)	-		(151	)		(273	)

Canada	224		-		461		(129	)	556		-		(109	)	47			(62	)

Europe	83		-		-		(107	)	(24	)	-		-		-			-

Asia Pacific and Middle East	-		146		(116	)	-		30		(28	)	-		30			2

Other International	-		-		288		-		288		-		154		-			154

Corporate and Other	11		(9	)	(31	)	(10	)	(39	)	-		-		89			89

Discontinued Operations	129		(3	)	57		995		1,178		20		33		1,078			1,131

Consolidated	387		300		659		749		2,095		(130	)	78		1,093			1,041





ADJUSTED EARNINGS

Alaska	543		585		494		555		2,177		598		627		473			1,698

Lower 48	165		164		209		207		745		446		265		183			894

Canada	(91	)	5		181		67		162		356		291		260			907

Europe	371		263		288		331		1,253		347		259		213			819

Asia Pacific and Middle East	918		871		857		856		3,502		770		845		719			2,334

Other International	19		26		(5	)	(37	)	3		(29	)	(33	)	(18	)		(80	)

Corporate and Other	(173	)	(164	)	(203	)	(241	)	(781	)	(235	)	(251	)	(219	)		(705	)

Consolidated	1,752		1,750		1,821		1,738		7,061		2,253		2,003		1,611			5,867





ADJUSTED EFFECTIVE INCOME TAX RATES FOR
CONTINUING OPERATIONS

Alaska	35.5	%	35.6	%	37.1	%	35.4	%	35.9	%	35.6	%	35.6	%	34.4	%		35.3	%

Lower 48	42.1	%	36.9	%	40.1	%	15.5	%	34.6	%	37.0	%	38.7	%	42.7	%		38.7	%

Canada	22.2	%	52.2	%	28.7	%	20.6	%	30.0	%	23.7	%	24.3	%	23.5	%		23.8	%

Europe	67.1	%	58.1	%	70.2	%	67.8	%	66.6	%	66.7	%	66.8	%	66.4	%		66.6	%

Asia Pacific and Middle East	34.1	%	31.2	%	31.5	%	25.8	%	30.3	%	30.1	%	30.1	%	27.1	%		29.2	%

Other International	95.4	%	93.3	%	102.6	%	36.0	%	99.6	%	57.2	%	39.3	%	296.5	%		28.6	%

Corporate and Other	11.0	%	-19.6	%	15.5	%	21.2	%	11.0	%	16.4	%	16.3	%	30.8	%		21.5	%

Consolidated	53.3	%	47.4	%	48.7	%	42.1	%	48.0	%	42.1	%	41.5	%	40.0	%		41.3	%
The income tax effects of the special items are calculated based on the statutory rate of the jurisdiction in which the discrete item resides.

Page 2

	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		-		-		-			-
Impairments	-		-		-		-		-		-		-		(151	)		(151	)
Pending claims and settlements	-		-		-		-		-		(39	)	-		-			(39	)
Total	(60	)	69		-		-		9		(122	)	-		(151	)		(273	)

Canada
Gain (loss) on asset sales	224		-		461		-		685		-		-		-			-
Impairments	-		-		-		(162	)	(162	)	-		(109	)	-			(109	)
FCCL IFRS depreciation adjustment	-		-		-		33		33		-		-		-			-
Pending claims and settlements	-		-		-		-		-		-		-		47			47
Total	224		-		461		(129	)	556		-		(109	)	47			(62	)

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		-		-		30			30
Total	-		146		(116	)	-		30		(28	)	-		30			2

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	)	-		-		-			-
Tax benefit on interest expense	-		-		-		-		-		-		-		61			61
Pending claims and settlements	-		(9	)	-		-		(9	)	-		-		28			28
Total	11		(9	)	(31	)	(10	)	(39	)	-		-		89			89

Discontinued Operations	129		(3	)	57		995		1,178		20		33		1,078			1,131

Total Company	387		300		659		749		2,095		(130	)	78		1,093			1,041

Page 3

	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		2,727			6,962
Depreciation, depletion and amortization	1,807		1,832		1,902		1,893		7,434		1,892		2,070		2,096			6,058
Impairments	2		28		1		498		529		1		17		108			126
Dry hole costs and leasehold impairments	36		176		133		98		443		69		334		265			668
Accretion on discounted liabilities	106		105		106		117		434		117		120		120			357
Deferred taxes	241		443		458		169		1,311		230		403		391			1,024
Undistributed equity earnings	(29	)	(199	)	(357	)	(237	)	(822	)	1,131		(450	)	(347	)		334
Gain on dispositions	(58	)	(95	)	(1,069	)	(20	)	(1,242	)	(9	)	(7	)	(4	)		(20	)
Income from discontinued operations	(129	)	3		(57	)	(995	)	(1,178	)	(20	)	(33	)	(1,078	)		(1,131	)
Other	(503	)	17		206		(91	)	(371	)	116		(308	)	(344	)		(536	)
Net working capital changes	982		(684	)	(175	)	(75	)	48		614		(681	)	220			153
Net cash provided by continuing operations	4,608		3,689		3,644		3,860		15,801		6,278		3,563		4,154			13,995
Net cash provided by discontinued operations	122		52		61		51		286		58		59		26			143
Net Cash Provided by Operating Activities	4,730		3,741		3,705		3,911		16,087		6,336		3,622		4,180			14,138

Cash Flows from Investing Activities
Capital expenditures and investments	(3,391	)	(3,705	)	(4,185	)	(4,256	)	(15,537	)	(3,895	)	(4,246	)	(4,588	)		(12,729	)
Proceeds from asset dispositions	1,134		542		1,499		7,045		10,220		48		15		1,371			1,434
Net sales (purchases) of short-term investments	(23	)	(51	)	75		(264	)	(263	)	63		(71	)	(101	)		(109	)
Long-term collections from related parties
and other investments	36		(11	)	54		(146	)	(67	)	108		65		(484	)		(311	)
Net cash provided by (used in) continuing operations	(2,244	)	(3,225	)	(2,557	)	2,379		(5,647	)	(3,676	)	(4,237	)	(3,802	)		(11,715	)
Net cash used in discontinued operations	(189	)	(190	)	(161	)	(64	)	(604	)	(22	)	(28	)	(9	)		(59	)
Net Cash Provided by (Used in) Investing Activities	(2,433	)	(3,415	)	(2,718	)	2,315		(6,251	)	(3,698	)	(4,265	)	(3,811	)		(11,774	)

Cash Flows from Financing Activities
Repayment of debt	(48	)	(850	)	(48	)	-		(946	)	(450	)	-		(55	)		(505	)
Change in restricted cash	748		-		-		-		748		-		-		-			-
Issuance of company common stock	(10	)	5		17		8		20		(32	)	78		(19	)		27
Dividends paid	(815	)	(814	)	(852	)	(853	)	(3,334	)	(855	)	(856	)	(907	)		(2,618	)
Other	(205	)	(186	)	(202	)	(3,028	)	(3,621	)	(17	)	(11	)	8			(20	)
Net cash used in continuing operations	(330	)	(1,845	)	(1,085	)	(3,873	)	(7,133	)	(1,354	)	(789	)	(973	)		(3,116	)
Net cash used in discontinued operations	-		-		-		-		-		-		-		-			-
Net Cash Used in Financing Activities	(330	)	(1,845	)	(1,085	)	(3,873	)	(7,133	)	(1,354	)	(789	)	(973	)		(3,116	)

Effect of Exchange Rate Changes	(163	)	6		72		10		(75	)	(10	)	54		(130	)		(86	)

Net Change in Cash and Cash Equivalents	1,804		(1,513	)	(26	)	2,363		2,628		1,274		(1,378	)	(734	)		(838	)
Cash and cash equivalents at beginning of period	3,618		5,422		3,909		3,883		3,618		6,246		7,520		6,142			6,246
Cash and Cash Equivalents at End of Period	5,422		3,909		3,883		6,246		6,246		7,520		6,142		5,408			5,408




CAPITAL PROGRAM

Capital expenditures and investments
Alaska	262		283		291		304		1,140		415		390		369			1,174

Lower 48	1,280		1,367		1,238		1,325		5,210		1,312		1,385		1,656			4,353

Canada	675		422		505		630		2,232		622		515		613			1,750

Europe	786		761		779		752		3,078		596		656		660			1,912

Asia Pacific and Middle East	337		827		1,142		1,076		3,382		848		1,094		1,077			3,019

Other International	24		18		187		84		313		67		172		164			403

Corporate and Other	27		27		43		85		182		35		34		49			118
Total capital expenditures and investments	3,391		3,705		4,185		4,256		15,537		3,895		4,246		4,588			12,729

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		4,588			12,729
Capital Program for Algeria, Nigeria and Kashagan:	189		190		161		69		609		22		28		9			59
*Excludes $2,810 million prepayment in the fourth quarter of 2013.

Page 4

	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	1,481		1,523
Discontinued operations (Algeria and Nigeria)	41		42	44	45	43	36		37	14		28
Total, including equity affiliates	1,596		1,552	1,514	1,518	1,545	1,568		1,594	1,495		1,551

Crude Oil (MBD)
Consolidated operations	606		565	532	543	562	581		576	542		566
Equity affiliates	20		20	20	17	19	18		20	19		19
Total continuing operations	626		585	552	560	581	599		596	561		585
Discontinued operations (Algeria and Nigeria)	20		18	19	15	18	8		9	4		7
Total	646		603	571	575	599	607		605	565		592
Over (under) lifting of crude oil (MBD)*	(9	)	4	19	11	6	(16	)	4	15		1
*Includes continuing and discontinued operations.

NGL (MBD)
Consolidated operations	151		150	148	144	149	152		159	149		154
Equity affiliates	8		8	8	6	7	7		8	8		7
Total continuing operations	159		158	156	150	156	159		167	157		161
Discontinued operations (Nigeria)	3		3	4	4	3	3		3	1		2
Total	162		161	160	154	159	162		170	158		163

Bitumen (MBD)
Consolidated operations	13		12	13	13	13	13		14	9		12
Equity affiliates	96		88	94	106	96	111		114	115		113
Total	109		100	107	119	109	124		128	124		125

Natural Gas (MMCFD)
Consolidated operations	3,479		3,505	3,423	3,427	3,458	3,432		3,482	3,315		3,410
Equity affiliates	483		493	507	439	481	469		516	518		501
Total continuing operations	3,962		3,998	3,930	3,866	3,939	3,901		3,998	3,833		3,911
Discontinued operations (Nigeria)	110		128	125	155	129	149		151	54		117
Total	4,072		4,126	4,055	4,021	4,068	4,050		4,149	3,887		4,028

Industry Prices
Crude Oil ($/BBL)
WTI	94.29		94.12	105.80	97.38	97.90	98.75		103.05	97.48		99.76
WCS	62.41		75.06	88.35	65.26	72.77	75.55		82.94	76.99		78.49
Brent dated	112.55		102.44	110.32	109.27	108.65	108.22		109.63	101.85		106.57
JCC ($/BBL)	114.19		113.07	107.36	107.94	110.64	112.78		111.40	109.59		111.26
Natural Gas ($/MMBTU)
Henry Hub first of month	3.34		4.10	3.58	3.60	3.65	4.94		4.68	4.07		4.56


Average Realized Prices
Crude Oil ($/BBL)
Consolidated operations	106.17		100.31	106.85	100.67	103.50	101.71		103.48	96.65		100.63
Equity affiliates	100.27		93.41	99.41	98.81	97.92	97.83		100.80	96.03		98.29
Total continuing operations	105.97		100.07	106.60	100.61	103.32	101.59		103.39	96.63		100.56
Discontinued operations (Algeria and Nigeria)	112.62		103.45	110.28	110.29	109.72	108.81		113.07	107.74		110.61
Total	106.20		100.14	106.74	100.83	103.51	101.69		103.53	96.67		100.67

NGL ($/BBL)
Consolidated operations	40.87		36.21	39.44	41.89	39.60	44.86		38.71	36.26		39.84
Equity affiliates	77.32		64.63	69.90	83.05	73.31	79.91		68.84	67.13		71.51
Total continuing operations	42.95		37.80	41.14	43.82	41.42	46.52		40.36	37.83		41.46
Discontinued operations (Nigeria)	12.30		13.13	15.76	16.13	14.58	12.99		14.55	11.49		13.41
Total	42.41		37.24	40.47	43.07	40.79	45.85		39.93	37.66		41.06

Bitumen ($/BBL)
Consolidated operations	36.78		59.67	76.90	44.73	55.25	61.69		68.00	64.95		64.95
Equity affiliates	39.52		55.13	75.93	43.64	53.00	55.85		65.55	62.30		61.30
Total	39.23		55.69	76.06	43.76	53.27	56.47		65.82	62.49		61.65

Natural Gas ($/MCF)
Consolidated operations	5.75		5.88	5.49	5.73	5.71	7.15		6.29	5.46		6.30
Equity affiliates	9.36		8.84	9.35	8.29	8.98	10.43		10.46	9.11		9.97
Total continuing operations	6.19		6.25	5.99	6.02	6.11	7.55		6.82	5.96		6.77
Discontinued operations (Nigeria)	2.54		2.98	2.58	2.36	2.60	2.69		2.46	2.26		2.53
Total	6.09		6.15	5.88	5.88	6.00	7.37		6.66	5.91		6.65


Exploration Expenses ($ Millions)
Dry holes	4		98	101	65	268	23		145	86		254
Leasehold impairment	32		78	32	33	175	46		189	179		414
Total noncash expenses	36		176	133	98	443	69		334	265		668
Other (G&A, G&G and lease rentals)	241		145	180	223	789	227		183	194		604
Total exploration expenses	277		321	313	321	1,232	296		517	459		1,272

U.S. exploration expenses	152		196	165	178	691	150		242	340		732
International exploration expenses	125		125	148	143	541	146		275	119		540

DD&A ($ Millions)
Alaska	135		135	124	136	530	132		135	123		390
Lower 48	744		785	880	836	3,245	829		939	982		2,750
Canada	343		345	330	297	1,315	232		238	236		706
Europe	261		234	234	304	1,033	404		421	427		1,252
Asia Pacific and Middle East	293		298	303	291	1,185	268		310	300		878
Other International	11		12	5	2	30	1		-	2		3
Corporate and Other	20		23	26	27	96	26		27	26		79
Total DD&A	1,807		1,832	1,902	1,893	7,434	1,892		2,070	2,096		6,058

Page 5

	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	139		162
Lower 48	148	147	153	158	152	171	191	191		184
Canada	14	14	13	12	13	13	12	13		13
Norway	100	78	94	95	92	96	89	89		91
United Kingdom	24	22	17	23	21	39	37	30		35
Europe	124	100	111	118	113	135	126	119		126
Australia/Timor-Leste	13	15	13	10	13	12	9	8		10
China	57	56	51	48	53	58	50	46		51
Indonesia	9	7	8	7	8	10	7	7		8
Malaysia	7	6	5	7	6	6	10	11		9
Equity affiliates	15	15	16	13	15	14	16	15		15
AP/ME	101	99	93	85	95	100	92	87		93
Libya	44	44	17	1	26	1	1	8		3
Equity affiliates	5	5	4	4	4	4	4	4		4
Other International	49	49	21	5	30	5	5	12		7
Total continuing operations	626	585	552	560	581	599	596	561		585
Discontinued operations (Algeria and Nigeria)	20	18	19	15	18	8	9	4		7
Total	646	603	571	575	599	607	605	565		592

NGL (MBD)
Alaska	18	15	11	16	15	16	16	8		13
Lower 48	87	91	94	90	91	91	100	104		99
Canada	26	25	25	23	25	25	25	21		24
Norway	3	2	3	3	3	2	2	3		3
United Kingdom	3	3	2	3	3	5	5	5		5
Europe	6	5	5	6	6	7	7	8		8
Australia/Timor-Leste	10	10	9	7	9	8	6	5		6
Indonesia	4	4	4	2	3	5	5	3		4
Equity affiliates	8	8	8	6	7	7	8	8		7
AP/ME	22	22	21	15	19	20	19	16		17
Total continuing operations	159	158	156	150	156	159	167	157		161
Discontinued operations (Nigeria)	3	3	4	4	3	3	3	1		2
Total	162	161	160	154	159	162	170	158		163

Bitumen (MBD)
Consolidated operations	13	12	13	13	13	13	14	9		12
Equity affiliates	96	88	94	106	96	111	114	115		113
Total	109	100	107	119	109	124	128	124		125

Natural Gas (MMCFD)
Alaska	56	38	35	43	43	55	45	48		50
Lower 48	1,441	1,516	1,511	1,493	1,490	1,468	1,495	1,485		1,482
Canada	806	788	775	731	775	707	713	707		709
Norway	161	119	130	163	143	157	135	106		133
United Kingdom	300	290	227	277	273	315	345	298		319
Europe	461	409	357	440	416	472	480	404		452
Australia/Timor-Leste	251	272	268	255	262	263	277	200		247
China	4	6	4	4	4	3	3	4		3
Indonesia	428	447	439	452	442	457	463	464		461
Malaysia	1	1	1	1	1	3	5	2		4
Equity affiliates	483	493	507	439	481	469	516	518		501
AP/ME	1,167	1,219	1,219	1,151	1,190	1,195	1,264	1,188		1,216
Libya	31	28	33	8	25	4	1	1		2
Other International	31	28	33	8	25	4	1	1		2
Total continuing operations	3,962	3,998	3,930	3,866	3,939	3,901	3,998	3,833		3,911
Discontinued operations (Nigeria)	110	128	125	155	129	149	151	54		117
Total	4,072	4,126	4,055	4,021	4,068	4,050	4,149	3,887		4,028

Total (MBOED)
Alaska	218	197	178	205	200	200	193	155		183
Lower 48	475	491	499	497	491	507	540	543		530
Consolidated operations	187	183	180	170	180	169	170	161		167
Equity affiliates	96	88	94	106	96	111	114	115		113
Canada	283	271	274	276	276	280	284	276		280
Norway	130	100	119	125	119	124	114	110		116
United Kingdom	77	73	57	72	70	96	99	84		93
Europe	207	173	176	197	189	220	213	194		209
Australia/Timor-Leste	65	70	67	60	65	64	61	46		57
China	58	57	52	49	54	59	51	47		52
Indonesia	84	86	85	84	85	91	89	87		89
Malaysia	7	6	5	7	6	6	11	11		10
Equity affiliates	104	105	108	92	102	99	110	110		106
AP/ME	318	324	317	292	312	319	322	301		314
Libya	49	49	22	2	30	2	1	8		3
Equity affiliates	5	5	4	4	4	4	4	4		4
Other International	54	54	26	6	34	6	5	12		7
Total continuing operations	1,555	1,510	1,470	1,473	1,502	1,532	1,557	1,481		1,523
Discontinued operations (Algeria and Nigeria)	41	42	44	45	43	36	37	14		28
Total	1,596	1,552	1,514	1,518	1,545	1,568	1,594	1,495		1,551

Page 6

	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	102.36		106.06
Lower 48	93.69	93.56	100.25	87.81	93.79	91.52	93.73	87.91		91.02
Canada	72.85	81.09	91.81	72.86	79.73	80.32	86.33	82.48		83.00
Norway	114.75	103.21	112.50	111.59	111.32	109.69	111.97	103.53		108.28
United Kingdom	111.07	101.67	110.62	108.94	107.57	107.37	110.01	102.22		106.57
Europe	114.11	102.74	112.28	110.96	110.56	109.05	111.38	103.17		107.79
Australia/Timor-Leste	107.76	97.11	103.84	107.26	104.17	106.36	105.31	101.26		104.27
China	110.91	98.58	106.36	106.17	105.50	105.62	106.18	97.73		103.48
Indonesia	93.32	83.15	93.35	95.66	91.37	92.82	94.82	84.28		91.04
Malaysia	119.87	108.67	114.90	118.29	115.44	115.35	114.51	109.62		112.26
AP/ME	109.35	97.77	105.43	106.43	104.78	104.92	105.65	99.07		103.28
Libya	112.18	102.82	107.49	-	107.21	-	107.33	95.22		95.82
Other International	112.18	102.82	107.49	-	107.21	-	107.33	95.22		95.82
Total consolidated operations	106.17	100.31	106.85	100.67	103.50	101.71	103.48	96.65		100.63
Equity affiliates	100.27	93.41	99.41	98.81	97.92	97.83	100.80	96.03		98.29
Total continuing operations	105.97	100.07	106.60	100.61	103.32	101.59	103.39	96.63		100.56
Discontinued operations (Algeria and Nigeria)	112.62	103.45	110.28	110.29	109.72	108.81	113.07	107.74		110.61
Total	106.20	100.14	106.74	100.83	103.51	101.69	103.53	96.67		100.67

NGL ($/BBL)
Consolidated operations
Lower 48	29.58	29.30	32.57	34.33	31.48	36.06	31.28	30.67		32.51
Canada	50.15	44.08	46.90	47.57	47.19	56.13	46.56	45.29		49.53
Norway	59.77	52.15	56.29	64.13	59.08	52.95	52.18	45.14		50.61
United Kingdom	60.61	46.32	58.58	61.69	57.48	64.99	59.48	58.21		60.94
Europe	60.10	49.29	57.36	63.01	58.36	60.48	57.32	54.47		57.62
Australia/Timor-Leste	77.42	67.48	71.92	81.14	74.79	78.51	72.80	71.18		74.22
Indonesia	78.10	64.58	69.97	72.47	71.23	82.11	69.07	67.57		73.58
AP/ME	77.59	66.54	71.35	79.29	73.82	80.07	71.52	69.69		73.97
Total consolidated operations	40.87	36.21	39.44	41.89	39.60	44.86	38.71	36.26		39.84
Equity affiliates	77.32	64.63	69.90	83.05	73.31	79.91	68.84	67.13		71.51
Total continuing operations	42.95	37.80	41.14	43.82	41.42	46.52	40.36	37.83		41.46
Discontinued operations (Nigeria)	12.30	13.13	15.76	16.13	14.58	12.99	14.55	11.49		13.41
Total	42.41	37.24	40.47	43.07	40.79	45.85	39.93	37.66		41.06

Bitumen ($/BBL)
Consolidated operations	36.78	59.67	76.90	44.73	55.25	61.69	68.00	64.95		64.95
Equity affiliates	39.52	55.13	75.93	43.64	53.00	55.85	65.55	62.30		61.30
Total	39.23	55.69	76.06	43.76	53.27	56.47	65.82	62.49		61.65

Natural Gas ($/MCF)
Consolidated operations
Alaska	5.20	4.03	4.09	3.74	4.35	5.22	6.03	5.47		5.55
Lower 48	3.19	3.85	3.39	3.55	3.50	5.08	4.43	3.96		4.48
Canada	2.89	3.28	2.42	3.09	2.92	5.81	4.13	3.50		4.47
Norway	10.69	10.42	11.11	11.24	10.89	11.16	9.19	7.81		9.57
United Kingdom	10.87	10.19	10.12	11.04	10.58	10.83	8.92	7.88		9.21
Europe	10.81	10.26	10.48	11.11	10.68	10.94	8.99	7.86		9.32
Australia/Timor-Leste*	1.10	1.11	1.81	1.09	1.28	1.09	1.11	1.08		1.09
China	2.50	2.52	2.54	3.30	2.70	1.66	2.49	2.52		2.23
Indonesia	11.57	10.56	11.01	10.04	10.78	10.24	10.21	10.18		10.21
AP/ME	11.20	10.62	10.81	9.83	10.61	10.32	10.32	9.39		10.03
Libya	4.86	4.65	5.92	7.37	5.38	6.65	-	-		6.44
Other International	4.86	4.65	5.92	7.37	5.38	6.65	-	-		6.44
Total consolidated operations	5.75	5.88	5.49	5.73	5.71	7.15	6.29	5.46		6.30
Equity affiliates	9.36	8.84	9.35	8.29	8.98	10.43	10.46	9.11		9.97
Total continuing operations	6.19	6.25	5.99	6.02	6.11	7.55	6.82	5.96		6.77
Discontinued operations (Nigeria)	2.54	2.98	2.58	2.36	2.60	2.69	2.46	2.26		2.53
Total	6.09	6.15	5.88	5.88	6.00	7.37	6.66	5.91		6.65
*Excludes transfers to Darwin LNG plant.

Page 7

	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	)	(130	)		(616	)


Detail of Earnings (Loss) ($ Millions)
Net interest expense*	(108	)	(127	)	(124	)	(171	)	(530	)	(163	)	(158	)	(36	)		(357	)
Corporate G&A expenses	(27	)	(43	)	(77	)	(66	)	(213	)	(31	)	(51	)	(51	)		(133	)
Technology**	(8	)	41		(26	)	(13	)	(6	)	(28	)	(20	)	(26	)		(74	)
Other	(19	)	(44	)	(7	)	(1	)	(71	)	(13	)	(22	)	(17	)		(52	)
Total	(162	)	(173	)	(234	)	(251	)	(820	)	(235	)	(251	)	(130	)		(616	)
*Third-quarter 2014 includes a $61 million tax benefit on interest expense from the prior year, as shown on page 3, as well as a $32 million tax benefit related to the current year.
**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	)	(280	)		(847	)
Capitalized interest	179		186		172		130		667		120		121		131			372
Interest revenue	10		28		10		12		60		9		10		10			29
Total	(98	)	(89	)	(121	)	(164	)	(472	)	(162	)	(145	)	(139	)		(446	)

Debt
Total debt ($ Millions)	21,670		21,721		21,668		21,662		21,662		21,206		21,234		21,187			21,187
Debt-to-capital ratio (%)	31	%	31	%	30	%	29	%	29	%	28	%	28	%	28	%		28	%

Equity ($ Millions)	49,240		48,932		51,537		52,492		52,492		53,621		55,686		55,661			55,661

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

Page 8

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CONOCOPHILLIPS - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - October 30, 2014

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