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

Attached files

file	filename
8-K - CONOCOPHILLIPS 8-K - CONOCOPHILLIPS	a51272906.htm
EX-99.1 - EXHIBIT 99.1 - CONOCOPHILLIPS	a51272906ex99_1.htm

Exhibit 99.2

	Fourth-Quarter 2015 Detailed Supplemental Information


	2014															2015
	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		15,415			13,821			12,080			11,208			52,524			7,716			8,293			7,262			6,293			29,564
Equity in earnings of affiliates		572			672			764			521			2,529			205			258			223			(31	)		655
Gain on dispositions		9			7			4			78			98			52			52			18			469			591
Other income		52			201			69			44			366			29			57			4			35			125
Total Revenues and Other Income		16,048			14,701			12,917			11,851			55,517			8,002			8,660			7,507			6,766			30,935

Costs and Expenses
Purchased commodities		7,127			5,495			4,703			4,774			22,099			3,237			3,230			3,269			2,690			12,426
Production and operating expenses		1,895			2,030			2,041			2,943			8,909			1,802			1,798			1,834			1,582			7,016
Selling, general and administrative expenses		182			218			203			132			735			159			218			293			283			953
Exploration expenses		296			517			459			773			2,045			482			549			1,061			2,100			4,192
Depreciation, depletion and amortization		1,892			2,070			2,096			2,271			8,329			2,131			2,329			2,271			2,382			9,113
Impairments		1			17			108			730			856			16			78			24			2,127			2,245
Taxes other than income taxes		651			612			493			332			2,088			224			225			206			246			901
Accretion on discounted liabilities		117			120			120			127			484			121			122			122			118			483
Interest and debt expense		171			155			149			173			648			202			210			240			268			920
Foreign currency transaction (gains) losses		18			7			(8	)		(83	)		(66	)		(16	)		(8	)		(72	)		21			(75	)
Total Costs and Expenses		12,350			11,241			10,364			12,172			46,127			8,358			8,751			9,248			11,817			38,174
Income (loss) from continuing operations before income taxes		3,698			3,460			2,553			(321	)		9,390			(356	)		(91	)		(1,741	)		(5,051	)		(7,239	)
Provision (benefit) for income taxes		1,581			1,395			904			(297	)		3,583			(642	)		73			(685	)		(1,614	)		(2,868	)
Income (loss) from continuing operations		2,117			2,065			1,649			(24	)		5,807			286			(164	)		(1,056	)		(3,437	)		(4,371	)
Income from discontinued operations		20			33			1,078			-			1,131			-			-			-			-			-
Net Income (Loss)		2,137			2,098			2,727			(24	)		6,938			286			(164	)		(1,056	)		(3,437	)		(4,371	)
Less: net income attributable to noncontrolling interests		(14	)		(17	)		(23	)		(15	)		(69	)		(14	)		(15	)		(15	)		(13	)		(57	)
Net Income (Loss) Attributable to ConocoPhillips		2,123			2,081			2,704			(39	)		6,869			272			(179	)		(1,071	)		(3,450	)		(4,428	)

Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock (dollars)
Basic
Continuing operations		1.70			1.65			1.31			(0.03	)		4.63			0.22			(0.15	)		(0.87	)		(2.78	)		(3.58	)
Discontinued operations		0.02			0.03			0.87			-			0.91			-			-			-			-			-
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock		1.72			1.68			2.18			(0.03	)		5.54			0.22			(0.15	)		(0.87	)		(2.78	)		(3.58	)
Diluted
Continuing operations		1.69			1.64			1.31			(0.03	)		4.60			0.22			(0.15	)		(0.87	)		(2.78	)		(3.58	)
Discontinued operations		0.02			0.03			0.86			-			0.91			-			-			-			-			-
Net Income (Loss) Attributable to ConocoPhillips
Per Share of Common Stock		1.71			1.67			2.17			(0.03	)		5.51			0.22			(0.15	)		(0.87	)		(2.78	)		(3.58	)

Average Common Shares Outstanding (in thousands)
Basic		1,234,968			1,236,057			1,238,234			1,239,975			1,237,325			1,240,791			1,241,026			1,242,125			1,243,699			1,241,919
Diluted		1,242,667			1,245,155			1,247,436			1,239,975			1,245,863			1,245,531			1,241,026			1,242,125			1,243,699			1,241,919




INCOME (LOSS) FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES

Alaska		930			973			722			497			3,122			225			305			53			(650	)		(67	)

Lower 48		516			434			78			(1,142	)		(114	)		(637	)		(460	)		(1,320	)		(634	)		(3,051	)

Canada		466			241			340			129			1,176			(218	)		(38	)		(211	)		(799	)		(1,266	)

Europe and North Africa		1,010			760			670			(35	)		2,405			172			102			(30	)		(689	)		(445	)

Asia Pacific and Middle East		1,093			1,233			1,058			818			4,202			572			521			310			(1,342	)		61

Other International		(36	)		120			(27	)		(259	)		(202	)		(145	)		(315	)		(67	)		(522	)		(1,049	)

Corporate and Other		(281	)		(301	)		(288	)		(329	)		(1,199	)		(325	)		(206	)		(476	)		(415	)		(1,422	)

Consolidated		3,698			3,460			2,553			(321	)		9,390			(356	)		(91	)		(1,741	)		(5,051	)		(7,239	)




EFFECTIVE INCOME TAX RATES FOR
CONTINUING OPERATIONS

Alaska*		35.6	%		35.6	%		34.4	%		31.1	%		34.6	%		35.2	%		36.3	%		1.3	%		40.3	%		105.9	%

Lower 48		37.3	%		38.7	%		60.0	%		43.8	%		80.9	%		36.5	%		36.3	%		35.4	%		39.7	%		36.7	%

Canada		23.7	%		24.0	%		9.7	%		27.0	%		20.1	%		27.6	%		-343.5	%		31.4	%		28.0	%		17.6	%

Europe and North Africa		65.7	%		66.1	%		67.8	%		86.1	%		66.1	%		-269.7	%		64.4	%		83.7	%		62.6	%		192.1	%

Asia Pacific and Middle East		30.9	%		30.1	%		27.0	%		24.4	%		28.4	%		28.6	%		34.0	%		11.8	%		-6.7	%		758.7	%

Other International		23.7	%		-1.8	%		20.8	%		33.0	%		50.3	%		36.5	%		53.2	%		37.9	%		40.3	%		43.5	%

Corporate and Other		16.4	%		16.3	%		55.0	%		21.5	%		27.1	%		23.3	%		36.1	%		28.9	%		78.2	%		43.1	%

Consolidated		42.8	%		40.3	%		35.4	%		92.7	%		38.2	%		179.8	%		-81.7	%		39.3	%		32.0	%		39.6	%
*Alaska including taxes other than income taxes.		51.6	%		50.3	%		48.6	%		44.2	%		49.4	%		47.0	%		49.9	%		56.4	%		23.1	%		98.6	%

	2014															2015
	1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr			YTD
$ Millions
EARNINGS BY SEGMENT

Alaska		598			627			473			343			2,041			145			195			53			(389	)		4

Lower 48		324			265			32			(643	)		(22	)		(405	)		(293	)		(852	)		(382	)		(1,932	)

Canada		356			182			307			95			940			(158	)		(166	)		(145	)		(575	)		(1,044	)

Europe and North Africa		346			258			215			(5	)		814			636			36			(5	)		(258	)		409

Asia Pacific and Middle East		742			845			749			603			2,939			395			328			258			(1,444	)		(463	)

Other International		(28	)		122			(20	)		(174	)		(100	)		(92	)		(147	)		(42	)		(312	)		(593	)

Corporate and Other		(235	)		(251	)		(130	)		(258	)		(874	)		(249	)		(132	)		(338	)		(90	)		(809	)

Discontinued Operations		20			33			1,078			-			1,131			-			-			-			-			-

Consolidated		2,123			2,081			2,704			(39	)		6,869			272			(179	)		(1,071	)		(3,450	)		(4,428	)





SPECIAL ITEMS (AFTER-TAX)

Alaska		-			-			-			(36	)		(36	)		(1	)		-			(10	)		(467	)		(478	)

Lower 48		(122	)		-			(151	)		(610	)		(883	)		(16	)		-			(389	)		236			(169	)

Canada		-			(109	)		47			9			(53	)		(18	)		(106	)		(27	)		(197	)		(348	)

Europe and North Africa		-			-			-			(144	)		(144	)		551			(34	)		(7	)		(275	)		235

Asia Pacific and Middle East		(28	)		-			30			-			2			(1	)		-			(44	)		(1,503	)		(1,548	)

Other International		-			154			-			-			154			-			(79	)		(1	)		(239	)		(319	)

Corporate and Other		-			-			89			-			89			(21	)		(41	)		(127	)		112			(77	)

Discontinued Operations		20			33			1,078			-			1,131			-			-			-			-			-

Consolidated		(130	)		78			1,093			(781	)		260			494			(260	)		(605	)		(2,333	)		(2,704	)





ADJUSTED EARNINGS

Alaska		598			627			473			379			2,077			146			195			63			78			482

Lower 48		446			265			183			(33	)		861			(389	)		(293	)		(463	)		(618	)		(1,763	)

Canada		356			291			260			86			993			(140	)		(60	)		(118	)		(378	)		(696	)

Europe and North Africa		346			258			215			139			958			85			70			2			17			174

Asia Pacific and Middle East		770			845			719			603			2,937			396			328			302			59			1,085

Other International		(28	)		(32	)		(20	)		(174	)		(254	)		(92	)		(68	)		(41	)		(73	)		(274	)

Corporate and Other		(235	)		(251	)		(219	)		(258	)		(963	)		(228	)		(91	)		(211	)		(202	)		(732	)

Consolidated		2,253			2,003			1,611			742			6,609			(222	)		81			(466	)		(1,117	)		(1,724	)





ADJUSTED EFFECTIVE INCOME TAX RATES FOR
CONTINUING OPERATIONS

Alaska		35.6	%		35.6	%		34.4	%		31.5	%		34.6	%		35.2	%		36.3	%		8.4	%		-2.8	%		28.7	%

Lower 48		37.0	%		38.7	%		42.7	%		68.1	%		36.5	%		36.5	%		36.4	%		35.2	%		38.8	%		37.0	%

Canada		23.7	%		24.3	%		23.5	%		26.5	%		24.1	%		28.0	%		22.9	%		32.3	%		27.7	%		28.2	%

Europe and North Africa		65.7	%		66.1	%		67.8	%		69.7	%		66.9	%		55.6	%		59.1	%		124.4	%		655.3	%		50.4	%

Asia Pacific and Middle East		30.1	%		30.1	%		27.1	%		24.4	%		28.3	%		28.6	%		34.0	%		24.3	%		55.6	%		31.8	%

Other International		23.7	%		6.2	%		20.8	%		33.0	%		28.5	%		36.5	%		35.3	%		37.5	%		37.4	%		36.6	%

Corporate and Other		16.4	%		16.3	%		30.8	%		21.5	%		21.5	%		21.9	%		34.9	%		27.9	%		34.9	%		29.3	%

Consolidated		42.1	%		41.5	%		40.0	%		39.7	%		41.2	%		17.8	%		54.9	%		41.3	%		36.0	%		34.2	%
The income tax effects of the special items are calculated based on the statutory rate of the jurisdiction in which the discrete item resides.

	2014															2015
$ 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
Restructuring		-			-			-			-			-			(1	)		-			(10	)		(1	)		(12	)
Impairments		-			-			-			(36	)		(36	)		-			-			-			(412	)		(412	)
Pending claims and settlements		-			-			-			-			-			-			-			-			(54	)		(54	)
Total		-			-			-			(36	)		(36	)		(1	)		-			(10	)		(467	)		(478	)

Lower 48
Restructuring		-			-			-			-			-			(16	)		-			(37	)		(8	)		(61	)
Loss on capacity agreements		(83	)		-			-			-			(83	)		-			-			-			-			-
Impairments		-			-			(151	)		(124	)		(275	)		-			-			(154	)		(124	)		(278	)
Rig termination		-			-			-			-			-			-			-			(246	)		-			(246	)
Pending claims and settlements		(39	)		-			-			-			(39	)		-			-			-			-			-
Freeport LNG termination		-			-			-			(545	)		(545	)		-			-			-			-			-
Deferred tax adjustment		-			-			-			59			59			-			-			-			-			-
Depreciation volume adjustment		-			-			-			-			-			-			-			48			-			48
Gain (loss) on asset sales		-			-			-			-			-			-			-			-			368			368
Total		(122	)		-			(151	)		(610	)		(883	)		(16	)		-			(389	)		236			(169	)

Canada
Gain (loss) on asset sales		-			-			-			38			38			-			29			-			(104	)		(75	)
Pending claims and settlements		-			-			47			-			47			-			-			-			-			-
Impairments		-			(109	)		-			(29	)		(138	)		-			-			-			(92	)		(92	)
Restructuring		-			-			-			-			-			(18	)		1			(27	)		(1	)		(45	)
International tax law changes		-			-			-			-			-			-			(136	)		-			-			(136	)
Total		-			(109	)		47			9			(53	)		(18	)		(106	)		(27	)		(197	)		(348	)

Europe and North Africa
Restructuring		-			-			-			-			-			(4	)		(1	)		(7	)		(4	)		(16	)
Impairments		-			-			-			(192	)		(192	)		-			(33	)		-			(320	)		(353	)
International tax law changes		-			-			-			-			-			555			-			-			-			555
Pending claims and settlements		-			-			-			48			48			-			-			-			-			-
Gain (loss) on asset sales		-			-			-			-			-			-			-			-			49			49
Total		-			-			-			(144	)		(144	)		551			(34	)		(7	)		(275	)		235

Asia Pacific and Middle East
Restructuring		-			-			-			-			-			(1	)		-			(3	)		-			(4	)
Impairments		-			-			-			-			-			-			-			(41	)		(1,503	)		(1,544	)
Qatar depreciation adjustment		(28	)		-			-			-			(28	)		-			-			-			-			-
Pending claims and settlements		-			-			30			-			30			-			-			-			-			-
Total		(28	)		-			30			-			2			(1	)		-			(44	)		(1,503	)		(1,548	)

Other International
Impairments		-			-			-			-			-			-			(107	)		-			(291	)		(398	)
Tax impact from country exit		-			-			-			-			-			-			28			-			-			28
Restructuring		-			-			-			-			-			-			-			(1	)		(1	)		(2	)
Gain (loss) on asset sales		-			-			-			-			-			-			-			-			53			53
Pending claims and settlements		-			154			-			-			154			-			-			-			-			-
Total		-			154			-			-			154			-			(79	)		(1	)		(239	)		(319	)

Corporate and Other
Restructuring		-			-			-			-			-			(21	)		(10	)		(71	)		(40	)		(142	)
Pension settlement expense		-			-			-			-			-			-			(38	)		(56	)		(49	)		(143	)
International tax law changes		-			-			-			-			-			-			7			-			-			7
Tax benefit on interest expense		-			-			61			-			61			-			-			-			209			209
Pending claims and settlements		-			-			28			-			28			-			-			-			(8	)		(8	)
Total		-			-			89			-			89			(21	)		(41	)		(127	)		112			(77	)

Discontinued Operations		20			33			1,078			-			1,131			-			-			-			-			-

Total Company		(130	)		78			1,093			(781	)		260			494			(260	)		(605	)		(2,333	)		(2,704	)

	2014															2015
	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 (loss)		2,137			2,098			2,727			(24	)		6,938			286			(164	)		(1,056	)		(3,437	)		(4,371	)
Depreciation, depletion and amortization		1,892			2,070			2,096			2,271			8,329			2,131			2,329			2,271			2,382			9,113
Impairments		1			17			108			730			856			16			78			24			2,127			2,245
Dry hole costs and leasehold impairments		69			334			265			498			1,166			311			402			525			1,827			3,065
Accretion on discounted liabilities		117			120			120			127			484			121			122			122			118			483
Deferred taxes		230			403			391			(315	)		709			(637	)		35			(682	)		(1,488	)		(2,772	)
Undistributed equity earnings		1,131			(450	)		(347	)		(257	)		77			80			(121	)		(38	)		180			101
Gain on dispositions		(9	)		(7	)		(4	)		(78	)		(98	)		(52	)		(52	)		(18	)		(469	)		(591	)
Income from discontinued operations		(20	)		(33	)		(1,078	)		-			(1,131	)		-			-			-			-			-
Other		116			(308	)		(344	)		303			(233	)		(133	)		(321	)		195			580			321
Net working capital changes		587			(738	)		(90	)		(444	)		(685	)		(55	)		(334	)		591			(224	)		(22	)
Net cash provided by continuing operations		6,251			3,506			3,844			2,811			16,412			2,068			1,974			1,934			1,596			7,572
Net cash provided by discontinued operations		74			56			27			-			157			-			-			-			-			-
Net Cash Provided by Operating Activities		6,325			3,562			3,871			2,811			16,569			2,068			1,974			1,934			1,596			7,572

Cash Flows from Investing Activities
Capital expenditures and investments		(3,895	)		(4,246	)		(4,588	)		(4,356	)		(17,085	)		(3,332	)		(2,407	)		(2,174	)		(2,137	)		(10,050	)
Working capital changes associated with investing activities		27			57			310			(214	)		180			(198	)		(480	)		(164	)		(126	)		(968	)
Proceeds from asset dispositions		48			15			1,371			169			1,603			173			121			29			1,629			1,952
Net sales (purchases) of short-term investments		63			(71	)		(101	)		362			253			-			-			-			-			-
Long-term collections from related parties
and other investments		108			65			(484	)		468			157			43			300			60			8			411
Net cash used in continuing operations		(3,649	)		(4,180	)		(3,492	)		(3,571	)		(14,892	)		(3,314	)		(2,466	)		(2,249	)		(626	)		(8,655	)
Net cash used in discontinued operations		(38	)		(25	)		(10	)		-			(73	)		-			-			-			-			-
Net Cash Used in Investing Activities		(3,687	)		(4,205	)		(3,502	)		(3,571	)		(14,965	)		(3,314	)		(2,466	)		(2,249	)		(626	)		(8,655	)

Cash Flows from Financing Activities
Net issuance (repayment) of debt		(450	)		-			(55	)		1,485			980			(57	)		2,493			(30	)		(11	)		2,395
Issuance of company common stock		(32	)		78			(19	)		8			35			(34	)		(12	)		(23	)		(13	)		(82	)
Dividends paid		(855	)		(856	)		(907	)		(907	)		(3,525	)		(910	)		(909	)		(922	)		(923	)		(3,664	)
Other		(17	)		(11	)		8			(44	)		(64	)		(18	)		(17	)		(15	)		(28	)		(78	)
Net cash provided by (used in) continuing operations		(1,354	)		(789	)		(973	)		542			(2,574	)		(1,019	)		1,555			(990	)		(975	)		(1,429	)
Net cash provided by (used in) discontinued operations		-			-			-			-			-			-			-			-			-			-
Net Cash Provided by (Used in) Financing Activities		(1,354	)		(789	)		(973	)		542			(2,574	)		(1,019	)		1,555			(990	)		(975	)		(1,429	)

Effect of Exchange Rate Changes		(10	)		54			(130	)		(128	)		(214	)		(133	)		86			(95	)		(40	)		(182	)

Net Change in Cash and Cash Equivalents		1,274			(1,378	)		(734	)		(346	)		(1,184	)		(2,398	)		1,149			(1,400	)		(45	)		(2,694	)
Cash and cash equivalents at beginning of period		6,246			7,520			6,142			5,408			6,246			5,062			2,664			3,813			2,413			5,062
Cash and Cash Equivalents at End of Period		7,520			6,142			5,408			5,062			5,062			2,664			3,813			2,413			2,368			2,368




CAPITAL EXPENDITURES AND INVESTMENTS

Alaska		415			390			369			390			1,564			402			379			304			267			1,352

Lower 48		1,312			1,385			1,656			1,701			6,054			1,372			882			756			755			3,765

Canada		622			515			613			590			2,340			455			272			160			368			1,255

Europe and North Africa		604			661			662			613			2,540			500			367			364			342			1,573

Asia Pacific and Middle East		848			1,094			1,077			858			3,877			488			432			551			341			1,812

Other International		59			167			162			132			520			83			43			12			35			173

Corporate and Other		35			34			49			72			190			32			32			27			29			120
Total capital expenditures and investments		3,895			4,246			4,588			4,356			17,085			3,332			2,407			2,174			2,137			10,050
Capital expenditures and investments for Nigeria:		22			28			9			-			59			-			-			-			-			-

	2014											2015
	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		1,532			1,557		1,481		1,589		1,540		1,610		1,595		1,554		1,599			1,589
Discontinued operations (Nigeria)		36			37		14		-		21		-		-		-		-			-
Total, including equity affiliates		1,568			1,594		1,495		1,589		1,561		1,610		1,595		1,554		1,599			1,589

Crude Oil (MBD)
Consolidated operations		581			576		542		605		576		603		589		558		598			587
Equity affiliates		18			20		19		18		19		19		19		19		16			18
Total continuing operations		599			596		561		623		595		622		608		577		614			605
Discontinued operations (Nigeria)		8			9		4		-		5		-		-		-		-			-
Total		607			605		565		623		600		622		608		577		614			605
Over (under) lifting of crude oil (MBD)*		(16	)		4		15		6		2		17		17		32		(13	)		13
*Includes continuing and discontinued operations.

NGL (MBD)
Consolidated operations		152			159		149		145		151		148		152		148		146			149
Equity affiliates		7			8		8		7		8		7		8		8		7			7
Total continuing operations		159			167		157		152		159		155		160		156		153			156
Discontinued operations (Nigeria)		3			3		1		-		1		-		-		-		-			-
Total		162			170		158		152		160		155		160		156		153			156

Bitumen (MBD)
Consolidated operations		13			14		9		13		12		12		12		12		18			13
Equity affiliates		111			114		115		128		117		144		126		145		137			138
Total		124			128		124		141		129		156		138		157		155			151

Natural Gas (MMCFD)
Consolidated operations		3,432			3,482		3,315		3,524		3,438		3,498		3,514		3,316		3,362			3,422
Equity affiliates		469			516		518		516		505		561		622		668		700			638
Total continuing operations		3,901			3,998		3,833		4,040		3,943		4,059		4,136		3,984		4,062			4,060
Discontinued operations (Nigeria)		149			151		54		-		88		-		-		-		-			-
Total		4,050			4,149		3,887		4,040		4,031		4,059		4,136		3,984		4,062			4,060

Industry Prices
Crude Oil ($/BBL)
WTI		98.75			103.05		97.48		73.41		93.17		48.56		57.84		46.37		42.10			48.72
WCS		75.55			82.94		76.99		58.90		73.60		33.86		46.25		33.10		27.61			35.21
Brent dated		108.22			109.63		101.85		76.27		98.99		53.97		61.92		50.26		43.67			52.46
JCC ($/BBL)		112.78			111.40		109.59		110.37		111.04		89.63		55.45		59.63		57.50			65.55
Natural Gas ($/MMBTU)
Henry Hub first of month		4.94			4.68		4.07		4.04		4.43		2.99		2.65		2.77		2.27			2.67


Average Realized Prices
Crude Oil ($/BBL)
Consolidated operations		101.71			103.48		96.65		71.34		92.84		48.02		57.94		46.37		40.29			48.21
Equity affiliates		97.82			100.80		96.03		70.40		91.48		49.14		59.93		47.55		42.23			49.92
Total continuing operations		101.59			103.39		96.63		71.31		92.80		48.05		58.00		46.41		40.35			48.26
Discontinued operations (Nigeria)		108.81			113.07		107.74		-		110.61		-		-		-		-			-
Total		101.69			103.53		96.67		71.31		92.94		48.05		58.00		46.41		40.35			48.26

NGL ($/BBL)
Consolidated operations		44.86			38.71		36.26		29.75		37.45		18.54		18.63		14.67		15.50			16.83
Equity affiliates		79.91			68.84		67.13		54.09		67.20		38.80		38.24		31.26		34.92			35.79
Total continuing operations		46.52			40.36		37.83		31.07		38.99		19.60		19.62		15.54		16.42			17.79
Discontinued operations (Nigeria)		12.99			14.55		11.49		-		13.41		-		-		-		-			-
Total		45.85			39.93		37.66		31.07		38.71		19.60		19.62		15.54		16.42			17.79

Bitumen ($/BBL)
Consolidated operations*		61.69			68.00		64.95		46.57		60.03		19.33		34.60		16.54		12.91			20.13
Equity affiliates		55.85			65.55		62.30		36.85		54.62		16.60		32.66		17.16		9.71			18.58
Total*		56.47			65.82		62.49		37.76		55.13		16.82		32.84		17.12		10.07			18.72
*2015 has been restated to conform to current period presentation.

Natural Gas ($/MCF)
Consolidated operations		7.15			6.29		5.46		5.51		6.10		4.28		3.80		3.78		3.32			3.80
Equity affiliates		10.43			10.46		9.11		9.24		9.79		7.48		4.42		4.37		3.57			4.83
Total continuing operations		7.55			6.82		5.96		5.98		6.57		4.72		3.90		3.87		3.36			3.96
Discontinued operations (Nigeria)		2.69			2.46		2.26		-		2.53		-		-		-		-			-
Total		7.37			6.66		5.91		5.98		6.48		4.72		3.90		3.87		3.36			3.96


Exploration Expenses ($ Millions)
Dry holes		23			145		86		350		604		271		157		148		565			1,141
Leasehold impairment		46			189		179		148		562		40		245		377		1,262			1,924
Total noncash expenses		69			334		265		498		1,166		311		402		525		1,827			3,065
Other (G&A, G&G and lease rentals)*		227			183		194		275		879		171		147		536		273			1,127
Total exploration expenses		296			517		459		773		2,045		482		549		1,061		2,100			4,192
*3Q 2015 includes Gulf of Mexico deepwater drillship termination expense.

U.S. exploration expenses		150			242		340		370		1,102		220		153		772		1,119			2,264
International exploration expenses		146			275		119		403		943		262		396		289		981			1,928

DD&A ($ Millions)
Alaska		132			135		123		135		525		140		158		183		199			680
Lower 48		829			939		982		953		3,703		952		1,073		1,062		1,142			4,229
Canada		232			238		236		218		924		199		217		200		168			784
Europe and North Africa		404			421		429		550		1,804		417		481		485		458			1,841
Asia Pacific and Middle East		268			310		300		390		1,268		399		374		313		387			1,473
Other International		1			-		-		-		1		-		-		-		-			-
Corporate and Other		26			27		26		25		104		24		26		28		28			106
Total DD&A		1,892			2,070		2,096		2,271		8,329		2,131		2,329		2,271		2,382			9,113

	2014										2015
	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD		1st Qtr		2nd Qtr		3rd Qtr		4th Qtr		YTD
PRODUCTION


Crude Oil (MBD)
Alaska		175		170		139		164		162		163		154		144		169		158
Lower 48		171		191		191		199		188		198		209		213		203		206
Canada		13		12		13		13		13		14		13		12		9		12
Norway		96		89		89		91		91		88		91		90		93		90
United Kingdom		39		37		30		33		35		32		29		26		33		30
Libya		1		1		8		21		8		-		-		-		-		-
Europe and North Africa		136		127		127		145		134		120		120		116		126		120
Australia/Timor-Leste		12		9		8		10		9		9		10		9		8		9
China		58		50		46		46		50		53		46		41		40		45
Indonesia		10		7		7		5		7		9		8		5		10		8
Malaysia		6		10		11		23		13		37		29		18		33		29
Equity affiliates		14		16		15		14		15		15		15		15		13		14
AP/ME		100		92		87		98		94		123		108		88		104		105
Equity affiliates		4		4		4		4		4		4		4		4		3		4
Other International		4		4		4		4		4		4		4		4		3		4
Total continuing operations		599		596		561		623		595		622		608		577		614		605
Discontinued operations (Nigeria)		8		9		4		-		5		-		-		-		-		-
Total		607		605		565		623		600		622		608		577		614		605

NGL (MBD)
Alaska		16		16		8		14		13		14		13		10		14		13
Lower 48		91		100		104		90		97		93		97		95		93		94
Canada		25		25		21		22		23		25		26		27		25		26
Norway		2		2		3		3		3		3		2		3		3		3
United Kingdom		5		5		5		6		5		4		4		4		4		4
Europe and North Africa		7		7		8		9		8		7		6		7		7		7
Australia/Timor-Leste		8		6		5		6		6		6		7		6		5		6
Indonesia		5		5		3		4		4		3		3		3		2		3
Equity affiliates		7		8		8		7		8		7		8		8		7		7
AP/ME		20		19		16		17		18		16		18		17		14		16
Total continuing operations		159		167		157		152		159		155		160		156		153		156
Discontinued operations (Nigeria)		3		3		1		-		1		-		-		-		-		-
Total		162		170		158		152		160		155		160		156		153		156

Bitumen (MBD)
Consolidated operations		13		14		9		13		12		12		12		12		18		13
Equity affiliates		111		114		115		128		117		144		126		145		137		138
Total		124		128		124		141		129		156		138		157		155		151

Natural Gas (MMCFD)
Alaska		55		45		48		49		49		52		41		34		41		42
Lower 48		1,468		1,495		1,485		1,514		1,491		1,505		1,501		1,457		1,426		1,472
Canada		707		713		707		719		711		736		768		712		643		715
Norway		157		135		106		156		138		163		143		142		165		153
United Kingdom		315		345		298		334		323		331		339		273		348		322
Libya		4		1		1		5		3		-		1		-		1		1
Europe and North Africa		476		481		405		495		464		494		483		415		514		476
Australia/Timor-Leste		263		277		200		279		255		276		294		282		297		288
China		3		3		4		4		4		3		3		1		1		2
Indonesia		457		463		464		461		461		430		417		408		431		421
Malaysia		3		5		2		3		3		2		7		7		9		6
Equity affiliates		469		516		518		516		505		561		622		668		700		638
AP/ME		1,195		1,264		1,188		1,263		1,228		1,272		1,343		1,366		1,438		1,355
Total continuing operations		3,901		3,998		3,833		4,040		3,943		4,059		4,136		3,984		4,062		4,060
Discontinued operations (Nigeria)		149		151		54		-		88		-		-		-		-		-
Total		4,050		4,149		3,887		4,040		4,031		4,059		4,136		3,984		4,062		4,060

Total (MBOED)
Alaska		200		193		155		186		183		186		174		160		190		178
Lower 48		507		540		543		541		533		542		556		551		534		545
Consolidated operations		169		170		161		168		167		174		180		170		159		170
Equity affiliates		111		114		115		128		117		144		126		145		137		138
Canada		280		284		276		296		284		318		306		315		296		308
Norway		124		114		110		120		117		118		117		117		123		119
United Kingdom		96		99		84		95		94		91		89		75		95		88
Libya		2		1		8		22		8		-		-		-		-		-
Europe and North Africa		222		214		202		237		219		209		206		192		218		207
Australia/Timor-Leste		64		61		46		62		57		61		66		62		63		63
China		59		51		47		46		51		54		46		41		40		45
Indonesia		91		89		87		86		88		84		80		76		84		81
Malaysia		6		11		11		24		14		37		30		19		35		30
Equity affiliates		99		110		110		107		107		115		127		134		136		128
AP/ME		319		322		301		325		317		351		349		332		358		347
Equity affiliates		4		4		4		4		4		4		4		4		3		4
Other International		4		4		4		4		4		4		4		4		3		4
Total continuing operations		1,532		1,557		1,481		1,589		1,540		1,610		1,595		1,554		1,599		1,589
Discontinued operations (Nigeria)		36		37		14		-		21		-		-		-		-		-
Total		1,568		1,594		1,495		1,589		1,561		1,610		1,595		1,554		1,599		1,589

	2014										2015
	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		106.39		108.93		102.36		74.07		97.68		50.74		61.51		50.48		43.73		51.61
Lower 48		91.52		93.73		87.91		65.34		84.18		40.77		52.01		41.56		35.89		42.62
Canada		80.32		86.33		82.48		62.89		77.87		37.12		46.58		38.44		34.58		39.52
Norway		109.69		111.97		103.53		73.91		98.37		55.72		62.39		50.56		43.28		53.29
United Kingdom		107.37		110.01		102.22		85.38		103.07		52.24		62.15		46.85		45.86		51.19
Libya		-		107.33		95.22		83.52		86.71		-		-		-		60.79		60.79
Europe and North Africa		109.05		111.37		102.82		76.69		98.98		54.30		62.35		49.86		44.01		52.75
Australia/Timor-Leste		106.36		105.31		101.26		75.57		98.70		50.58		60.38		50.45		42.11		51.41
China		105.62		106.18		97.73		71.34		95.94		48.99		57.26		43.31		36.27		46.54
Indonesia		92.82		94.82		84.28		53.74		84.28		43.64		61.28		36.15		38.77		45.40
Malaysia		115.35		114.51		109.62		76.87		96.94		56.33		65.51		52.84		44.95		55.23
AP/ME		104.92		105.65		99.07		71.94		95.32		51.20		60.55		46.81		39.57		49.70
Total consolidated operations		101.71		103.48		96.65		71.34		92.84		48.02		57.94		46.37		40.29		48.21
Equity affiliates		97.82		100.80		96.03		70.40		91.48		49.14		59.93		47.55		42.23		49.92
Total continuing operations		101.59		103.39		96.63		71.31		92.80		48.05		58.00		46.41		40.35		48.26
Discontinued operations (Nigeria)		108.81		113.07		107.74		-		110.61		-		-		-		-		-
Total		101.69		103.53		96.67		71.31		92.94		48.05		58.00		46.41		40.35		48.26

NGL ($/BBL)
Consolidated operations
Lower 48		36.06		31.28		30.67		24.93		30.74		15.55		15.29		12.55		12.67		14.01
Canada		56.13		46.56		45.29		35.72		46.23		18.28		19.23		14.50		16.14		17.02
Norway		52.95		52.18		45.14		37.40		47.74		30.43		28.66		21.25		25.05		26.56
United Kingdom		64.99		59.48		58.21		40.05		54.74		29.69		30.90		26.72		26.75		28.29
Europe and North Africa		60.48		57.32		54.47		39.42		52.65		29.90		29.54		24.74		26.08		27.56
Australia/Timor-Leste		78.51		72.80		71.18		51.27		69.56		41.63		40.95		32.53		36.19		38.38
Indonesia		82.11		69.07		67.57		56.31		69.06		39.31		38.95		31.89		37.09		36.62
AP/ME		80.07		71.52		69.69		53.66		69.36		40.90		40.35		32.26		36.50		37.78
Total consolidated operations		44.86		38.71		36.26		29.75		37.45		18.54		18.63		14.67		15.50		16.83
Equity affiliates		79.91		68.84		67.13		54.09		67.20		38.80		38.24		31.26		34.92		35.79
Total continuing operations		46.52		40.36		37.83		31.07		38.99		19.60		19.62		15.54		16.42		17.79
Discontinued operations (Nigeria)		12.99		14.55		11.49		-		13.41		-		-		-		-		-
Total		45.85		39.93		37.66		31.07		38.71		19.60		19.62		15.54		16.42		17.79

Bitumen ($/BBL)
Consolidated operations*		61.69		68.00		64.95		46.57		60.03		19.33		34.60		16.54		12.91		20.13
Equity affiliates		55.85		65.55		62.30		36.85		54.62		16.60		32.66		17.16		9.71		18.58
Total*		56.47		65.82		62.49		37.76		55.13		16.82		32.84		17.12		10.07		18.72
*2015 has been restated to conform to current period presentation.

Natural Gas ($/MCF)
Consolidated operations
Alaska		5.22		6.03		5.47		5.01		5.42		4.29		4.50		4.26		4.25		4.33
Lower 48		5.08		4.43		3.96		3.73		4.29		2.60		2.38		2.65		2.09		2.43
Canada		5.81		4.13		3.50		3.12		4.13		2.21		1.88		1.94		1.58		1.91
Norway		11.16		9.19		7.81		8.66		9.35		7.67		6.84		6.79		5.18		6.59
United Kingdom		10.83		8.92		7.88		9.42		9.27		8.65		7.40		7.28		6.37		7.41
Libya		6.65		-		-		0.09		3.40		-		-		-		-		-
Europe and North Africa		10.92		8.99		7.86		9.17		9.28		8.33		7.23		7.11		5.99		7.14
Australia/Timor-Leste*		1.09		1.11		1.08		1.09		1.09		1.05		0.85		0.63		0.70		0.81
China		1.66		2.49		2.52		2.54		2.33		2.49		2.51		2.50		2.45		2.50
Indonesia		10.24		10.21		10.18		8.16		9.69		6.50		7.55		6.26		5.40		6.42
Malaysia		0.26		0.26		0.26		0.26		0.26		1.21		1.49		1.71		1.11		1.39
AP/ME		10.32		10.32		9.39		9.17		9.80		7.23		6.48		5.97		5.30		6.23
Total consolidated operations		7.15		6.29		5.46		5.51		6.10		4.28		3.80		3.78		3.32		3.80
Equity affiliates		10.43		10.46		9.11		9.24		9.79		7.48		4.42		4.37		3.57		4.83
Total continuing operations		7.55		6.82		5.96		5.98		6.57		4.72		3.90		3.87		3.36		3.96
Discontinued operations (Nigeria)		2.69		2.46		2.26		-		2.53		-		-		-		-		-
Total		7.37		6.66		5.91		5.98		6.48		4.72		3.90		3.87		3.36		3.96
*Excludes transfers to Darwin LNG plant.

	2014															2015
	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)		(235	)		(251	)		(130	)		(258	)		(874	)		(249	)		(132	)		(338	)		(90	)		(809	)


Detail of Earnings (Loss) ($ Millions)
Net interest expense*		(163	)		(158	)		(36	)		(145	)		(502	)		(155	)		(161	)		(176	)		(26	)		(518	)
Corporate G&A expenses		(31	)		(51	)		(51	)		(61	)		(194	)		(21	)		(71	)		(71	)		(83	)		(246	)
Technology**		(28	)		(20	)		(26	)		(19	)		(93	)		(16	)		88			3			47			122
Other		(13	)		(22	)		(17	)		(33	)		(85	)		(57	)		12			(94	)		(28	)		(167	)
Total		(235	)		(251	)		(130	)		(258	)		(874	)		(249	)		(132	)		(338	)		(90	)		(809	)
*3Q 2014 and 4Q 2015 includes a $61 and $209 million tax benefit on interest expense, respectively, from prior years, as shown on page 3. 3Q 2014 also includes a $32 million tax benefit related to 2014.
**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		(291	)		(276	)		(280	)		(289	)		(1,136	)		(296	)		(307	)		(305	)		(306	)		(1,214	)
Capitalized interest		120			121			131			116			488			94			97			65			38			294
Interest revenue		9			10			10			11			40			12			13			6			5			36
Total		(162	)		(145	)		(139	)		(162	)		(608	)		(190	)		(197	)		(234	)		(263	)		(884	)

Debt
Total debt ($ Millions)		21,206			21,234			21,187			22,565			22,565			22,511			24,925			24,891			24,880			24,880
Debt-to-capital ratio (%)		28	%		28	%		28	%		30	%		30	%		31	%		34	%		36	%		38	%		38	%

Equity ($ Millions)		53,621			55,686			55,661			52,273			52,273			49,008			48,969			44,555			40,082			40,082

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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CONOCOPHILLIPS - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - February 4, 2016

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