Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - CONOCOPHILLIPS | a51447277_ex991.htm |
| 8-K - CONOCOPHILLIPS 8-K - CONOCOPHILLIPS | a51447277.htm |
Exhibit 99.2
| Third-Quarter 2016 Detailed Supplemental Information | |||||||||||||||||||||
| 2015 | 2016 | ||||||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 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 | 7,716 | 8,293 | 7,262 | 6,293 | 29,564 | 5,121 | 5,348 | 6,415 | 16,884 | ||||||||||||
| Equity in earnings (losses) of affiliates | 205 | 258 | 223 | (31 | ) | 655 | (149 | ) | 80 | (60 | ) | (129 | ) | ||||||||
| Gain on dispositions | 52 | 52 | 18 | 469 | 591 | 23 | 128 | 51 | 202 | ||||||||||||
| Other income | 29 | 57 | 4 | 35 | 125 | 20 | 19 | 110 | 149 | ||||||||||||
| Total Revenues and Other Income | 8,002 | 8,660 | 7,507 | 6,766 | 30,935 | 5,015 | 5,575 | 6,516 | 17,106 | ||||||||||||
| Costs and Expenses | |||||||||||||||||||||
| Purchased commodities | 3,237 | 3,230 | 3,269 | 2,690 | 12,426 | 2,225 | 2,002 | 2,819 | 7,046 | ||||||||||||
| Production and operating expenses | 1,802 | 1,798 | 1,834 | 1,582 | 7,016 | 1,354 | 1,445 | 1,526 | 4,325 | ||||||||||||
| Selling, general and administrative expenses | 159 | 218 | 293 | 283 | 953 | 186 | 167 | 203 | 556 | ||||||||||||
| Exploration expenses | 482 | 549 | 1,061 | 2,100 | 4,192 | 505 | 610 | 457 | 1,572 | ||||||||||||
| Depreciation, depletion and amortization | 2,131 | 2,329 | 2,271 | 2,382 | 9,113 | 2,247 | 2,329 | 2,425 | 7,001 | ||||||||||||
| Impairments | 16 | 78 | 24 | 2,127 | 2,245 | 136 | 62 | 123 | 321 | ||||||||||||
| Taxes other than income taxes | 224 | 225 | 206 | 246 | 901 | 180 | 197 | 161 | 538 | ||||||||||||
| Accretion on discounted liabilities | 121 | 122 | 122 | 118 | 483 | 109 | 112 | 108 | 329 | ||||||||||||
| Interest and debt expense | 202 | 210 | 240 | 268 | 920 | 281 | 312 | 335 | 928 | ||||||||||||
| Foreign currency transaction (gains) losses | (16 | ) | (8 | ) | (72 | ) | 21 | (75 | ) | 16 | (17 | ) | 13 | 12 | |||||||
| Total Costs and Expenses | 8,358 | 8,751 | 9,248 | 11,817 | 38,174 | 7,239 | 7,219 | 8,170 | 22,628 | ||||||||||||
| Loss before income taxes | (356 | ) | (91 | ) | (1,741 | ) | (5,051 | ) | (7,239 | ) | (2,224 | ) | (1,644 | ) | (1,654 | ) | (5,522 | ) | |||
| Income tax provision (benefit) | (642 | ) | 73 | (685 | ) | (1,614 | ) | (2,868 | ) | (768 | ) | (586 | ) | (628 | ) | (1,982 | ) | ||||
| Net Income (Loss) | 286 | (164 | ) | (1,056 | ) | (3,437 | ) | (4,371 | ) | (1,456 | ) | (1,058 | ) | (1,026 | ) | (3,540 | ) | ||||
| Less: net income attributable to noncontrolling interests | (14 | ) | (15 | ) | (15 | ) | (13 | ) | (57 | ) | (13 | ) | (13 | ) | (14 | ) | (40 | ) | |||
| Net Income (Loss) Attributable to ConocoPhillips | 272 | (179 | ) | (1,071 | ) | (3,450 | ) | (4,428 | ) | (1,469 | ) | (1,071 | ) | (1,040 | ) | (3,580 | ) | ||||
| Net Income (Loss) Attributable to ConocoPhillips | |||||||||||||||||||||
| Per Share of Common Stock (dollars) | |||||||||||||||||||||
| Basic | 0.22 | (0.15 | ) | (0.87 | ) | (2.78 | ) | (3.58 | ) | (1.18 | ) | (0.86 | ) | (0.84 | ) | (2.88 | ) | ||||
| Diluted | 0.22 | (0.15 | ) | (0.87 | ) | (2.78 | ) | (3.58 | ) | (1.18 | ) | (0.86 | ) | (0.84 | ) | (2.88 | ) | ||||
| Average Common Shares Outstanding (in thousands) | |||||||||||||||||||||
| Basic | 1,240,791 | 1,241,026 | 1,242,125 | 1,243,699 | 1,241,919 | 1,244,557 | 1,244,892 | 1,245,961 | 1,245,139 | ||||||||||||
| Diluted | 1,245,531 | 1,241,026 | 1,242,125 | 1,243,699 | 1,241,919 | 1,244,557 | 1,244,892 | 1,245,961 | 1,245,139 | ||||||||||||
| INCOME (LOSS) BEFORE INCOME TAXES | |||||||||||||||||||||
| Alaska | 225 | 305 | 53 | (650 | ) | (67 | ) | (52 | ) | 98 | 36 | 82 | |||||||||
| Lower 48 | (637 | ) | (460 | ) | (1,320 | ) | (634 | ) | (3,051 | ) | (1,279 | ) | (1,213 | ) | (767 | ) | (3,259 | ) | |||
| Canada | (218 | ) | (38 | ) | (211 | ) | (799 | ) | (1,266 | ) | (418 | ) | (238 | ) | (442 | ) | (1,098 | ) | |||
| Europe and North Africa | 172 | 102 | (30 | ) | (689 | ) | (445 | ) | (146 | ) | 14 | (9 | ) | (141 | ) | ||||||
| Asia Pacific and Middle East | 572 | 521 | 310 | (1,342 | ) | 61 | 89 | 157 | 19 | 265 | |||||||||||
| Other International | (145 | ) | (315 | ) | (67 | ) | (522 | ) | (1,049 | ) | (32 | ) | (38 | ) | (62 | ) | (132 | ) | |||
| Corporate and Other | (325 | ) | (206 | ) | (476 | ) | (415 | ) | (1,422 | ) | (386 | ) | (424 | ) | (429 | ) | (1,239 | ) | |||
| Consolidated | (356 | ) | (91 | ) | (1,741 | ) | (5,051 | ) | (7,239 | ) | (2,224 | ) | (1,644 | ) | (1,654 | ) | (5,522 | ) | |||
| EFFECTIVE INCOME TAX RATES | |||||||||||||||||||||
| Alaska* | 35.2 | % | 36.3 | % | 1.3 | % | 40.3 | % | 105.9 | % | 96.4 | % | -50.1 | % | -64.0 | % | -149.3 | % | |||
| Lower 48 | 36.5 | % | 36.3 | % | 35.4 | % | 39.7 | % | 36.7 | % | 35.8 | % | 36.5 | % | 36.0 | % | 36.1 | % | |||
| Canada | 27.6 | % | -343.5 | % | 31.4 | % | 28.0 | % | 17.6 | % | 29.8 | % | 26.3 | % | 28.9 | % | 28.7 | % | |||
| Europe and North Africa | -269.7 | % | 64.4 | % | 83.7 | % | 62.6 | % | 192.1 | % | 65.3 | % | -41.6 | % | 1930.7 | % | 193.7 | % | |||
| Asia Pacific and Middle East | 28.6 | % | 34.0 | % | 11.8 | % | -6.7 | % | 758.7 | % | 90.8 | % | 46.1 | % | 478.6 | % | 92.2 | % | |||
| Other International | 36.5 | % | 53.2 | % | 37.9 | % | 40.3 | % | 43.5 | % | 24.3 | % | 24.3 | % | 23.2 | % | 23.8 | % | |||
| Corporate and Other | 23.3 | % | 36.1 | % | 28.9 | % | 78.2 | % | 43.1 | % | 29.1 | % | 21.2 | % | 24.7 | % | 24.9 | % | |||
| Consolidated | 179.8 | % | -81.7 | % | 39.3 | % | 32.0 | % | 39.6 | % | 34.5 | % | 35.6 | % | 38.0 | % | 35.9 | % | |||
| *Alaska including taxes other than income taxes. | 47.0 | % | 49.9 | % | 56.4 | % | 23.1 | % | 98.6 | % | 61.2 | % | 15.5 | % | 36.4 | % | 22.2 | % | |||
1 of 8
| 2015 | 2016 | ||||||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
| $ Millions | |||||||||||||||||||||
| EARNINGS BY SEGMENT | |||||||||||||||||||||
| Alaska | 145 | 195 | 53 | (389 | ) | 4 | (2 | ) | 147 | 59 | 204 | ||||||||||
| Lower 48 | (405 | ) | (293 | ) | (852 | ) | (382 | ) | (1,932 | ) | (820 | ) | (771 | ) | (491 | ) | (2,082 | ) | |||
| Canada | (158 | ) | (166 | ) | (145 | ) | (575 | ) | (1,044 | ) | (294 | ) | (175 | ) | (314 | ) | (783 | ) | |||
| Europe and North Africa | 636 | 36 | (5 | ) | (258 | ) | 409 | (51 | ) | 20 | 163 | 132 | |||||||||
| Asia Pacific and Middle East | 395 | 328 | 258 | (1,444 | ) | (463 | ) | (5 | ) | 72 | (87 | ) | (20 | ) | |||||||
| Other International | (92 | ) | (147 | ) | (42 | ) | (312 | ) | (593 | ) | (24 | ) | (29 | ) | (47 | ) | (100 | ) | |||
| Corporate and Other | (249 | ) | (132 | ) | (338 | ) | (90 | ) | (809 | ) | (273 | ) | (335 | ) | (323 | ) | (931 | ) | |||
| Consolidated | 272 | (179 | ) | (1,071 | ) | (3,450 | ) | (4,428 | ) | (1,469 | ) | (1,071 | ) | (1,040 | ) | (3,580 | ) | ||||
| SPECIAL ITEMS | |||||||||||||||||||||
| Alaska | (1 | ) | - | (10 | ) | (467 | ) | (478 | ) | - | 93 | (6 | ) | 87 | |||||||
| Lower 48 | (16 | ) | - | (389 | ) | 236 | (169 | ) | (172 | ) | (148 | ) | (88 | ) | (408 | ) | |||||
| Canada | (18 | ) | (106 | ) | (27 | ) | (197 | ) | (348 | ) | - | - | (30 | ) | (30 | ) | |||||
| Europe and North Africa | 551 | (34 | ) | (7 | ) | (275 | ) | 235 | (60 | ) | - | 160 | 100 | ||||||||
| Asia Pacific and Middle East | (1 | ) | - | (44 | ) | (1,503 | ) | (1,548 | ) | - | - | (174 | ) | (174 | ) | ||||||
| Other International | - | (79 | ) | (1 | ) | (239 | ) | (319 | ) | - | - | - | - | ||||||||
| Corporate and Other | (21 | ) | (41 | ) | (127 | ) | 112 | (77 | ) | (58 | ) | (31 | ) | (76 | ) | (165 | ) | ||||
| Consolidated | 494 | (260 | ) | (605 | ) | (2,333 | ) | (2,704 | ) | (290 | ) | (86 | ) | (214 | ) | (590 | ) | ||||
| Detailed reconciliation of these items is provided on page 3. | |||||||||||||||||||||
| ADJUSTED EARNINGS | |||||||||||||||||||||
| Alaska | 146 | 195 | 63 | 78 | 482 | (2 | ) | 54 | 65 | 117 | |||||||||||
| Lower 48 | (389 | ) | (293 | ) | (463 | ) | (618 | ) | (1,763 | ) | (648 | ) | (623 | ) | (403 | ) | (1,674 | ) | |||
| Canada | (140 | ) | (60 | ) | (118 | ) | (378 | ) | (696 | ) | (294 | ) | (175 | ) | (284 | ) | (753 | ) | |||
| Europe and North Africa | 85 | 70 | 2 | 17 | 174 | 9 | 20 | 3 | 32 | ||||||||||||
| Asia Pacific and Middle East | 396 | 328 | 302 | 59 | 1,085 | (5 | ) | 72 | 87 | 154 | |||||||||||
| Other International | (92 | ) | (68 | ) | (41 | ) | (73 | ) | (274 | ) | (24 | ) | (29 | ) | (47 | ) | (100 | ) | |||
| Corporate and Other | (228 | ) | (91 | ) | (211 | ) | (202 | ) | (732 | ) | (215 | ) | (304 | ) | (247 | ) | (766 | ) | |||
| Consolidated | (222 | ) | 81 | (466 | ) | (1,117 | ) | (1,724 | ) | (1,179 | ) | (985 | ) | (826 | ) | (2,990 | ) | ||||
| ADJUSTED EFFECTIVE INCOME TAX RATES | |||||||||||||||||||||
| Alaska | 35.2 | % | 36.3 | % | 8.4 | % | -2.8 | % | 28.7 | % | 96.4 | % | -28.5 | % | -41.6 | % | -226.1 | % | |||
| Lower 48 | 36.5 | % | 36.4 | % | 35.2 | % | 38.8 | % | 37.0 | % | 36.0 | % | 35.6 | % | 36.1 | % | 35.9 | % | |||
| Canada | 28.0 | % | 22.9 | % | 32.3 | % | 27.7 | % | 28.2 | % | 29.8 | % | 26.3 | % | 27.9 | % | 28.3 | % | |||
| Europe and North Africa | 55.6 | % | 59.1 | % | 124.4 | % | 655.3 | % | 50.4 | % | 135.4 | % | -41.6 | % | 136.9 | % | 262.0 | % | |||
| Asia Pacific and Middle East | 28.6 | % | 34.0 | % | 24.3 | % | 55.6 | % | 31.8 | % | 90.8 | % | 46.1 | % | 47.2 | % | 55.7 | % | |||
| Other International | 36.5 | % | 35.3 | % | 37.5 | % | 37.4 | % | 36.6 | % | 24.3 | % | 24.3 | % | 23.2 | % | 23.8 | % | |||
| Corporate and Other | 21.9 | % | 34.9 | % | 27.9 | % | 34.9 | % | 29.3 | % | 28.8 | % | 20.0 | % | 21.8 | % | 23.2 | % | |||
| Consolidated | 17.8 | % | 54.9 | % | 41.3 | % | 36.0 | % | 34.2 | % | 33.6 | % | 31.0 | % | 30.7 | % | 32.0 | % | |||
2 of 8
| 2015 | 2016 | ||||||||||||||||||||
| $ Millions | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||||
| DETAILED SPECIAL ITEMS | |||||||||||||||||||||
| Alaska | |||||||||||||||||||||
| Restructuring | (2 | ) | - | (15 | ) | (2 | ) | (19 | ) | - | - | (10 | ) | (10 | ) | ||||||
| Impairments | - | - | - | (643 | ) | (643 | ) | - | - | - | - | ||||||||||
| Pending claims and settlements | - | - | - | (82 | ) | (82 | ) | - | - | - | - | ||||||||||
| Gain (loss) on asset sales | - | - | - | - | - | - | 56 | - | 56 | ||||||||||||
| Subtotal before income taxes | (2 | ) | - | (15 | ) | (727 | ) | (744 | ) | - | 56 | (10 | ) | 46 | |||||||
| Income tax provision (benefit)* | (1 | ) | - | (5 | ) | (260 | ) | (266 | ) | - | (37 | ) | (4 | ) | (41 | ) | |||||
| Total | (1 | ) | - | (10 | ) | (467 | ) | (478 | ) | - | 93 | (6 | ) | 87 | |||||||
| Lower 48 | |||||||||||||||||||||
| Restructuring | (25 | ) | 1 | (57 | ) | (13 | ) | (94 | ) | - | - | (35 | ) | (35 | ) | ||||||
| Impairments | - | - | (240 | ) | (194 | ) | (434 | ) | (266 | ) | (246 | ) | - | (512 | ) | ||||||
| Rig termination | - | - | (383 | ) | - | (383 | ) | - | - | (134 | ) | (134 | ) | ||||||||
| Depreciation volume adjustment | - | - | 75 | - | 75 | - | - | - | - | ||||||||||||
| Pending claims and settlements | - | - | - | - | - | - | - | 33 | 33 | ||||||||||||
| Gain (loss) on asset sales | - | - | - | 584 | 584 | - | - | - | - | ||||||||||||
| Subtotal before income taxes | (25 | ) | 1 | (605 | ) | 377 | (252 | ) | (266 | ) | (246 | ) | (136 | ) | (648 | ) | |||||
| Income tax provision (benefit)* | (9 | ) | 1 | (216 | ) | 141 | (83 | ) | (94 | ) | (98 | ) | (48 | ) | (240 | ) | |||||
| Total | (16 | ) | - | (389 | ) | 236 | (169 | ) | (172 | ) | (148 | ) | (88 | ) | (408 | ) | |||||
| Canada | |||||||||||||||||||||
| Gain (loss) on asset sales | - | 39 | - | (149 | ) | (110 | ) | - | - | 37 | 37 | ||||||||||
| Impairments | - | - | - | (125 | ) | (125 | ) | - | - | (57 | ) | (57 | ) | ||||||||
| Restructuring | (24 | ) | 1 | (37 | ) | (2 | ) | (62 | ) | - | - | (28 | ) | (28 | ) | ||||||
| Subtotal before income taxes | (24 | ) | 40 | (37 | ) | (276 | ) | (297 | ) | - | - | (48 | ) | (48 | ) | ||||||
| Income tax provision (benefit)** | (6 | ) | 146 | (10 | ) | (79 | ) | 51 | - | - | (18 | ) | (18 | ) | |||||||
| Total | (18 | ) | (106 | ) | (27 | ) | (197 | ) | (348 | ) | - | - | (30 | ) | (30 | ) | |||||
| Europe and North Africa | |||||||||||||||||||||
| Restructuring | (19 | ) | (4 | ) | (21 | ) | (3 | ) | (47 | ) | - | - | (2 | ) | (2 | ) | |||||
| Impairments | - | (66 | ) | - | (645 | ) | (711 | ) | (119 | ) | - | - | (119 | ) | |||||||
| Gain (loss) on asset sales | - | - | - | (38 | ) | (38 | ) | - | - | - | - | ||||||||||
| Subtotal before income taxes | (19 | ) | (70 | ) | (21 | ) | (686 | ) | (796 | ) | (119 | ) | - | (2 | ) | (121 | ) | ||||
| Income tax provision (benefit)** | (570 | ) | (36 | ) | (14 | ) | (411 | ) | (1,031 | ) | (59 | ) | - | (162 | ) | (221 | ) | ||||
| Total | 551 | (34 | ) | (7 | ) | (275 | ) | 235 | (60 | ) | - | 160 | 100 | ||||||||
| Asia Pacific and Middle East | |||||||||||||||||||||
| Restructuring | (1 | ) | - | (4 | ) | - | (5 | ) | - | - | - | - | |||||||||
| APLNG tax functional currency change | - | - | - | - | - | - | - | (174 | ) | (174 | ) | ||||||||||
| Impairments | - | - | (105 | ) | (1,504 | ) | (1,609 | ) | - | - | - | - | |||||||||
| Subtotal before income taxes | (1 | ) | - | (109 | ) | (1,504 | ) | (1,614 | ) | - | - | (174 | ) | (174 | ) | ||||||
| Income tax provision (benefit) | - | - | (65 | ) | (1 | ) | (66 | ) | - | - | - | - | |||||||||
| Total | (1 | ) | - | (44 | ) | (1,503 | ) | (1,548 | ) | - | - | (174 | ) | (174 | ) | ||||||
| Other International | |||||||||||||||||||||
| Impairments | - | (209 | ) | - | (463 | ) | (672 | ) | - | - | - | - | |||||||||
| Restructuring | - | - | (2 | ) | (1 | ) | (3 | ) | - | - | - | - | |||||||||
| Gain (loss) on asset sales | - | - | - | 58 | 58 | - | - | - | - | ||||||||||||
| Subtotal before income taxes | - | (209 | ) | (2 | ) | (406 | ) | (617 | ) | - | - | - | - | ||||||||
| Income tax provision (benefit)*** | - | (130 | ) | (1 | ) | (167 | ) | (298 | ) | - | - | - | - | ||||||||
| Total | - | (79 | ) | (1 | ) | (239 | ) | (319 | ) | - | - | - | - | ||||||||
| Corporate and Other | |||||||||||||||||||||
| Restructuring | (33 | ) | (15 | ) | (105 | ) | (56 | ) | (209 | ) | - | - | (70 | ) | (70 | ) | |||||
| Pension settlement expense | - | (52 | ) | (78 | ) | (66 | ) | (196 | ) | (83 | ) | (45 | ) | (23 | ) | (151 | ) | ||||
| Tax benefit on interest expense | - | - | - | 30 | 30 | - | - | - | - | ||||||||||||
| Pending claims and settlements | - | - | - | (12 | ) | (12 | ) | - | - | (20 | ) | (20 | ) | ||||||||
| Subtotal before income taxes | (33 | ) | (67 | ) | (183 | ) | (104 | ) | (387 | ) | (83 | ) | (45 | ) | (113 | ) | (241 | ) | |||
| Income tax provision (benefit)** | (12 | ) | (26 | ) | (56 | ) | (216 | ) | (310 | ) | (25 | ) | (14 | ) | (37 | ) | (76 | ) | |||
| Total | (21 | ) | (41 | ) | (127 | ) | 112 | (77 | ) | (58 | ) | (31 | ) | (76 | ) | (165 | ) | ||||
| Total Company | 494 | (260 | ) | (605 | ) | (2,333 | ) | (2,704 | ) | (290 | ) | (86 | ) | (214 | ) | (590 | ) | ||||
| *Includes deferred tax adjustment in 2Q 2016. | |||||||||||||||||||||
| **Includes international tax law change for 1Q 2015 and 3Q 2016 in Europe and North Africa and 2Q 2015 in Canada and Corporate. | |||||||||||||||||||||
| ***Includes tax impact from country exit in 2Q 2015. | |||||||||||||||||||||
3 of 8
| 2015 | 2016 | ||||||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
| $ Millions | |||||||||||||||||||||
| CASH FLOW INFORMATION | |||||||||||||||||||||
| Cash Flows from Operating Activities | |||||||||||||||||||||
| Net income (loss) | 286 | (164 | ) | (1,056 | ) | (3,437 | ) | (4,371 | ) | (1,456 | ) | (1,058 | ) | (1,026 | ) | (3,540 | ) | ||||
| Depreciation, depletion and amortization | 2,131 | 2,329 | 2,271 | 2,382 | 9,113 | 2,247 | 2,329 | 2,425 | 7,001 | ||||||||||||
| Impairments | 16 | 78 | 24 | 2,127 | 2,245 | 136 | 62 | 123 | 321 | ||||||||||||
| Dry hole costs and leasehold impairments | 311 | 402 | 525 | 1,827 | 3,065 | 360 | 463 | 187 | 1,010 | ||||||||||||
| Accretion on discounted liabilities | 121 | 122 | 122 | 118 | 483 | 109 | 112 | 108 | 329 | ||||||||||||
| Deferred taxes | (637 | ) | 35 | (682 | ) | (1,488 | ) | (2,772 | ) | (827 | ) | (630 | ) | (695 | ) | (2,152 | ) | ||||
| Distributions received greater than equity losses | |||||||||||||||||||||
| (undistributed equity earnings) | 80 | (121 | ) | (38 | ) | 180 | 101 | 252 | (30 | ) | 192 | 414 | |||||||||
| Gain on dispositions | (52 | ) | (52 | ) | (18 | ) | (469 | ) | (591 | ) | (23 | ) | (128 | ) | (51 | ) | (202 | ) | |||
| Other | (133 | ) | (321 | ) | 195 | 580 | 321 | (126 | ) | 109 | (33 | ) | (50 | ) | |||||||
| Net working capital changes | (55 | ) | (334 | ) | 591 | (224 | ) | (22 | ) | (251 | ) | 30 | 50 | (171 | ) | ||||||
| Net Cash Provided by Operating Activities | 2,068 | 1,974 | 1,934 | 1,596 | 7,572 | 421 | 1,259 | 1,280 | 2,960 | ||||||||||||
| Cash Flows from Investing Activities | |||||||||||||||||||||
| Capital expenditures and investments | (3,332 | ) | (2,407 | ) | (2,174 | ) | (2,137 | ) | (10,050 | ) | (1,821 | ) | (1,133 | ) | (916 | ) | (3,870 | ) | |||
| Working capital changes associated with investing activities | (198 | ) | (480 | ) | (164 | ) | (126 | ) | (968 | ) | (134 | ) | (229 | ) | (38 | ) | (401 | ) | |||
| Proceeds from asset dispositions | 173 | 121 | 29 | 1,629 | 1,952 | 135 | 228 | 56 | 419 | ||||||||||||
| Net sales (purchases) of short-term investments | - | - | - | - | - | (302 | ) | (990 | ) | 1,063 | (229 | ) | |||||||||
| Long-term collections from related parties | |||||||||||||||||||||
| and other investments | 43 | 300 | 60 | 8 | 411 | 57 | 2 | 110 | 169 | ||||||||||||
| Net Cash Provided by (Used in) Investing Activities | (3,314 | ) | (2,466 | ) | (2,249 | ) | (626 | ) | (8,655 | ) | (2,065 | ) | (2,122 | ) | 275 | (3,912 | ) | ||||
| Cash Flows from Financing Activities | |||||||||||||||||||||
| Net issuance (repayment) of debt | (57 | ) | 2,493 | (30 | ) | (11 | ) | 2,395 | 4,530 | (763 | ) | (12 | ) | 3,755 | |||||||
| Issuance of company common stock | (34 | ) | (12 | ) | (23 | ) | (13 | ) | (82 | ) | (42 | ) | (3 | ) | (7 | ) | (52 | ) | |||
| Dividends paid | (910 | ) | (909 | ) | (922 | ) | (923 | ) | (3,664 | ) | (313 | ) | (313 | ) | (314 | ) | (940 | ) | |||
| Other | (18 | ) | (17 | ) | (15 | ) | (28 | ) | (78 | ) | (38 | ) | (41 | ) | (14 | ) | (93 | ) | |||
| Net Cash Provided by (Used in) Financing Activities | (1,019 | ) | 1,555 | (990 | ) | (975 | ) | (1,429 | ) | 4,137 | (1,120 | ) | (347 | ) | 2,670 | ||||||
| Effect of Exchange Rate Changes | (133 | ) | 86 | (95 | ) | (40 | ) | (182 | ) | 5 | (20 | ) | 19 | 4 | |||||||
| Net Change in Cash and Cash Equivalents | (2,398 | ) | 1,149 | (1,400 | ) | (45 | ) | (2,694 | ) | 2,498 | (2,003 | ) | 1,227 | 1,722 | |||||||
| Cash and cash equivalents at beginning of period | 5,062 | 2,664 | 3,813 | 2,413 | 5,062 | 2,368 | 4,866 | 2,863 | 2,368 | ||||||||||||
| Cash and Cash Equivalents at End of Period | 2,664 | 3,813 | 2,413 | 2,368 | 2,368 | 4,866 | 2,863 | 4,090 | 4,090 | ||||||||||||
| CAPITAL EXPENDITURES AND INVESTMENTS | |||||||||||||||||||||
| Alaska | 402 | 379 | 304 | 267 | 1,352 | 320 | 183 | 199 | 702 | ||||||||||||
| Lower 48 | 1,372 | 882 | 756 | 755 | 3,765 | 580 | 237 | 175 | 992 | ||||||||||||
| Canada | 455 | 272 | 160 | 368 | 1,255 | 254 | 214 | 85 | 553 | ||||||||||||
| Europe and North Africa | 500 | 367 | 364 | 342 | 1,573 | 303 | 271 | 227 | 801 | ||||||||||||
| Asia Pacific and Middle East | 488 | 432 | 551 | 341 | 1,812 | 306 | 179 | 215 | 700 | ||||||||||||
| Other International | 83 | 43 | 12 | 35 | 173 | 41 | 37 | 3 | 81 | ||||||||||||
| Corporate and Other | 32 | 32 | 27 | 29 | 120 | 17 | 12 | 12 | 41 | ||||||||||||
| Total capital expenditures and investments | 3,332 | 2,407 | 2,174 | 2,137 | 10,050 | 1,821 | 1,133 | 916 | 3,870 | ||||||||||||
4 of 8
| 2015 | 2016 | |||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||
| TOTAL SEGMENTS | ||||||||||||||
| Production | ||||||||||||||
| Total (MBOED) | 1,610 | 1,595 | 1,554 | 1,599 | 1,589 | 1,578 | 1,546 | 1,557 | 1,560 | |||||
| Crude Oil (MBD) | ||||||||||||||
| Consolidated operations | 603 | 589 | 558 | 598 | 587 | 605 | 577 | 571 | 584 | |||||
| Equity affiliates | 19 | 19 | 19 | 16 | 18 | 12 | 15 | 15 | 14 | |||||
| Total | 622 | 608 | 577 | 614 | 605 | 617 | 592 | 586 | 598 | |||||
| Over (under) lifting of crude oil (MBD) | 17 | 17 | 32 | (13 | ) | 13 | 37 | (8 | ) | 45 | 25 | |||
| NGL (MBD) | ||||||||||||||
| Consolidated operations | 148 | 152 | 148 | 146 | 149 | 139 | 137 | 140 | 138 | |||||
| Equity affiliates | 7 | 8 | 8 | 7 | 7 | 7 | 8 | 8 | 8 | |||||
| Total | 155 | 160 | 156 | 153 | 156 | 146 | 145 | 148 | 146 | |||||
| Bitumen (MBD) | ||||||||||||||
| Consolidated operations | 12 | 12 | 12 | 18 | 13 | 27 | 19 | 41 | 29 | |||||
| Equity affiliates | 144 | 126 | 145 | 137 | 138 | 139 | 141 | 152 | 144 | |||||
| Total | 156 | 138 | 157 | 155 | 151 | 166 | 160 | 193 | 173 | |||||
| Natural Gas (MMCFD) | ||||||||||||||
| Consolidated operations | 3,498 | 3,514 | 3,316 | 3,362 | 3,422 | 3,096 | 2,991 | 2,829 | 2,972 | |||||
| Equity affiliates | 561 | 622 | 668 | 700 | 638 | 799 | 902 | 948 | 883 | |||||
| Total | 4,059 | 4,136 | 3,984 | 4,062 | 4,060 | 3,895 | 3,893 | 3,777 | 3,855 | |||||
| Industry Prices | ||||||||||||||
| Crude Oil ($/BBL) | ||||||||||||||
| WTI | 48.56 | 57.84 | 46.37 | 42.10 | 48.72 | 33.27 | 45.48 | 44.88 | 41.21 | |||||
| WCS | 33.86 | 46.25 | 33.10 | 27.61 | 35.21 | 19.03 | 32.18 | 31.38 | 27.53 | |||||
| Brent dated | 53.97 | 61.92 | 50.26 | 43.67 | 52.46 | 33.89 | 45.57 | 45.85 | 41.77 | |||||
| JCC ($/BBL) | 89.63 | 55.45 | 59.63 | 57.50 | 65.55 | 45.97 | 33.09 | 41.30 | 40.12 | |||||
| Natural Gas ($/MMBTU) | ||||||||||||||
| Henry Hub first of month | 2.99 | 2.65 | 2.77 | 2.27 | 2.67 | 2.09 | 1.95 | 2.81 | 2.29 | |||||
| Average Realized Prices | ||||||||||||||
| Crude Oil ($/BBL) | ||||||||||||||
| Consolidated operations | 48.02 | 57.94 | 46.37 | 40.29 | 48.21 | 31.43 | 42.63 | 43.18 | 38.90 | |||||
| Equity affiliates | 49.14 | 59.93 | 47.55 | 42.23 | 49.92 | 33.50 | 46.35 | 44.78 | 41.94 | |||||
| Total | 48.05 | 58.00 | 46.41 | 40.35 | 48.26 | 31.47 | 42.72 | 43.21 | 38.97 | |||||
| NGL ($/BBL) | ||||||||||||||
| Consolidated operations | 18.54 | 18.63 | 14.67 | 15.50 | 16.83 | 11.47 | 15.76 | 15.63 | 14.31 | |||||
| Equity affiliates | 38.80 | 38.24 | 31.26 | 34.92 | 35.79 | 27.45 | 29.18 | 25.12 | 27.25 | |||||
| Total | 19.60 | 19.62 | 15.54 | 16.42 | 17.79 | 12.30 | 16.55 | 16.18 | 15.04 | |||||
| Bitumen ($/BBL) | ||||||||||||||
| Consolidated operations | 19.33 | 34.60 | 16.54 | 12.91 | 20.13 | 2.54 | 13.76 | 15.73 | 11.36 | |||||
| Equity affiliates | 16.60 | 32.66 | 17.16 | 9.71 | 18.58 | 1.59 | 18.74 | 18.39 | 12.91 | |||||
| Total | 16.82 | 32.84 | 17.12 | 10.07 | 18.72 | 1.74 | 18.11 | 17.82 | 12.65 | |||||
| Natural Gas ($/MCF) | ||||||||||||||
| Consolidated operations | 4.28 | 3.80 | 3.78 | 3.32 | 3.80 | 2.85 | 2.54 | 3.11 | 2.83 | |||||
| Equity affiliates | 7.48 | 4.42 | 4.37 | 3.57 | 4.83 | 3.56 | 2.32 | 2.90 | 2.90 | |||||
| Total | 4.72 | 3.90 | 3.87 | 3.36 | 3.96 | 2.99 | 2.49 | 3.05 | 2.85 | |||||
| Exploration Expenses ($ Millions) | ||||||||||||||
| Dry holes | 271 | 157 | 148 | 565 | 1,141 | 180 | 249 | 163 | 592 | |||||
| Leasehold impairment | 40 | 245 | 377 | 1,262 | 1,924 | 180 | 214 | 24 | 418 | |||||
| Total noncash expenses | 311 | 402 | 525 | 1,827 | 3,065 | 360 | 463 | 187 | 1,010 | |||||
| Other (G&A, G&G and lease rentals)* | 171 | 147 | 536 | 273 | 1,127 | 145 | 147 | 270 | 562 | |||||
| Total exploration expenses | 482 | 549 | 1,061 | 2,100 | 4,192 | 505 | 610 | 457 | 1,572 | |||||
| *3Q 2015 includes Gulf of Mexico deepwater drillship termination expense. | ||||||||||||||
| U.S. exploration expenses | 220 | 153 | 772 | 1,119 | 2,264 | 443 | 559 | 199 | 1,201 | |||||
| International exploration expenses | 262 | 396 | 289 | 981 | 1,928 | 62 | 51 | 258 | 371 | |||||
| DD&A ($ Millions) | ||||||||||||||
| Alaska | 140 | 158 | 183 | 199 | 680 | 207 | 235 | 214 | 656 | |||||
| Lower 48 | 952 | 1,073 | 1,062 | 1,142 | 4,229 | 1,048 | 1,148 | 1,152 | 3,348 | |||||
| Canada | 199 | 217 | 200 | 168 | 784 | 191 | 203 | 275 | 669 | |||||
| Europe and North Africa | 417 | 481 | 485 | 458 | 1,841 | 378 | 320 | 373 | 1,071 | |||||
| Asia Pacific and Middle East | 399 | 374 | 313 | 387 | 1,473 | 399 | 399 | 386 | 1,184 | |||||
| Corporate and Other | 24 | 26 | 28 | 28 | 106 | 24 | 24 | 25 | 73 | |||||
| Total DD&A | 2,131 | 2,329 | 2,271 | 2,382 | 9,113 | 2,247 | 2,329 | 2,425 | 7,001 | |||||
5 of 8
| 2015 | 2016 | |||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||
| PRODUCTION | ||||||||||||
| Crude Oil (MBD) | ||||||||||||
| Alaska | 163 | 154 | 144 | 169 | 158 | 170 | 163 | 148 | 160 | |||
| Lower 48 | 198 | 209 | 213 | 203 | 206 | 202 | 206 | 195 | 201 | |||
| Canada | 14 | 13 | 12 | 9 | 12 | 8 | 8 | 7 | 8 | |||
| Norway | 88 | 91 | 90 | 93 | 90 | 95 | 78 | 98 | 90 | |||
| United Kingdom | 32 | 29 | 26 | 33 | 30 | 30 | 27 | 23 | 27 | |||
| Libya | - | - | - | - | - | - | - | - | - | |||
| Europe and North Africa | 120 | 120 | 116 | 126 | 120 | 125 | 105 | 121 | 117 | |||
| Australia/Timor-Leste | 9 | 10 | 9 | 8 | 9 | 7 | 8 | 10 | 8 | |||
| China | 53 | 46 | 41 | 40 | 45 | 45 | 42 | 40 | 42 | |||
| Indonesia | 9 | 8 | 5 | 10 | 8 | 10 | 8 | 9 | 9 | |||
| Malaysia | 37 | 29 | 18 | 33 | 29 | 38 | 37 | 41 | 39 | |||
| Equity affiliates | 15 | 15 | 15 | 13 | 14 | 12 | 15 | 15 | 14 | |||
| AP/ME | 123 | 108 | 88 | 104 | 105 | 112 | 110 | 115 | 112 | |||
| Equity affiliates | 4 | 4 | 4 | 3 | 4 | - | - | - | - | |||
| Other International | 4 | 4 | 4 | 3 | 4 | - | - | - | - | |||
| Total | 622 | 608 | 577 | 614 | 605 | 617 | 592 | 586 | 598 | |||
| NGL (MBD) | ||||||||||||
| Alaska | 14 | 13 | 10 | 14 | 13 | 14 | 11 | 11 | 12 | |||
| Lower 48 | 93 | 97 | 95 | 93 | 94 | 86 | 90 | 92 | 89 | |||
| Canada | 25 | 26 | 27 | 25 | 26 | 25 | 22 | 23 | 23 | |||
| Norway | 3 | 2 | 3 | 3 | 3 | 3 | 2 | 3 | 3 | |||
| United Kingdom | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 3 | |||
| Europe and North Africa | 7 | 6 | 7 | 7 | 7 | 7 | 6 | 6 | 6 | |||
| Australia/Timor-Leste | 6 | 7 | 6 | 5 | 6 | 4 | 5 | 7 | 6 | |||
| Indonesia | 3 | 3 | 3 | 2 | 3 | 3 | 3 | 1 | 2 | |||
| Equity affiliates | 7 | 8 | 8 | 7 | 7 | 7 | 8 | 8 | 8 | |||
| AP/ME | 16 | 18 | 17 | 14 | 16 | 14 | 16 | 16 | 16 | |||
| Total | 155 | 160 | 156 | 153 | 156 | 146 | 145 | 148 | 146 | |||
| Bitumen (MBD) | ||||||||||||
| Consolidated operations | 12 | 12 | 12 | 18 | 13 | 27 | 19 | 41 | 29 | |||
| Equity affiliates | 144 | 126 | 145 | 137 | 138 | 139 | 141 | 152 | 144 | |||
| Total | 156 | 138 | 157 | 155 | 151 | 166 | 160 | 193 | 173 | |||
| Natural Gas (MMCFD) | ||||||||||||
| Alaska | 52 | 41 | 34 | 41 | 42 | 38 | 27 | 18 | 28 | |||
| Lower 48 | 1,505 | 1,501 | 1,457 | 1,426 | 1,472 | 1,216 | 1,244 | 1,224 | 1,228 | |||
| Canada | 736 | 768 | 712 | 643 | 715 | 566 | 532 | 517 | 538 | |||
| Norway | 163 | 143 | 142 | 165 | 153 | 174 | 133 | 127 | 145 | |||
| United Kingdom | 331 | 339 | 273 | 348 | 322 | 332 | 324 | 230 | 295 | |||
| Libya | - | 1 | - | 1 | 1 | 1 | 1 | 1 | 1 | |||
| Europe and North Africa | 494 | 483 | 415 | 514 | 476 | 507 | 458 | 358 | 441 | |||
| Australia/Timor-Leste | 276 | 294 | 282 | 297 | 288 | 309 | 312 | 260 | 294 | |||
| China | 3 | 3 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | |||
| Indonesia | 430 | 417 | 408 | 431 | 421 | 445 | 382 | 399 | 409 | |||
| Malaysia | 2 | 7 | 7 | 9 | 6 | 14 | 35 | 52 | 33 | |||
| Equity affiliates | 561 | 622 | 668 | 700 | 638 | 799 | 902 | 948 | 883 | |||
| AP/ME | 1,272 | 1,343 | 1,366 | 1,438 | 1,355 | 1,568 | 1,632 | 1,660 | 1,620 | |||
| Total | 4,059 | 4,136 | 3,984 | 4,062 | 4,060 | 3,895 | 3,893 | 3,777 | 3,855 | |||
| Total (MBOED) | ||||||||||||
| Alaska | 186 | 174 | 160 | 190 | 178 | 191 | 179 | 162 | 177 | |||
| Lower 48 | 542 | 556 | 551 | 534 | 545 | 491 | 503 | 491 | 495 | |||
| Consolidated operations | 174 | 180 | 170 | 159 | 170 | 154 | 138 | 157 | 150 | |||
| Equity affiliates | 144 | 126 | 145 | 137 | 138 | 139 | 141 | 152 | 144 | |||
| Canada | 318 | 306 | 315 | 296 | 308 | 293 | 279 | 309 | 294 | |||
| Norway | 118 | 117 | 117 | 123 | 119 | 127 | 102 | 122 | 117 | |||
| United Kingdom | 91 | 89 | 75 | 95 | 88 | 89 | 85 | 65 | 79 | |||
| Libya | - | - | - | - | - | - | - | - | - | |||
| Europe and North Africa | 209 | 206 | 192 | 218 | 207 | 216 | 187 | 187 | 196 | |||
| Australia/Timor-Leste | 61 | 66 | 62 | 63 | 63 | 63 | 65 | 60 | 63 | |||
| China | 54 | 46 | 41 | 40 | 45 | 45 | 42 | 40 | 42 | |||
| Indonesia | 84 | 80 | 76 | 84 | 81 | 87 | 75 | 77 | 79 | |||
| Malaysia | 37 | 30 | 19 | 35 | 30 | 40 | 43 | 50 | 45 | |||
| Equity affiliates | 115 | 127 | 134 | 136 | 128 | 152 | 173 | 181 | 169 | |||
| AP/ME | 351 | 349 | 332 | 358 | 347 | 387 | 398 | 408 | 398 | |||
| Equity affiliates | 4 | 4 | 4 | 3 | 4 | - | - | - | - | |||
| Other International | 4 | 4 | 4 | 3 | 4 | - | - | - | - | |||
| Total | 1,610 | 1,595 | 1,554 | 1,599 | 1,589 | 1,578 | 1,546 | 1,557 | 1,560 | |||
6 of 8
| 2015 | 2016 | |||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||
| AVERAGE REALIZED PRICES | ||||||||||||
| Crude Oil ($/BBL) | ||||||||||||
| Consolidated operations | ||||||||||||
| Alaska | 50.74 | 61.51 | 50.48 | 43.73 | 51.61 | 32.54 | 44.39 | 43.43 | 39.69 | |||
| Lower 48 | 40.77 | 52.01 | 41.56 | 35.89 | 42.62 | 27.04 | 39.50 | 40.09 | 35.54 | |||
| Canada | 37.12 | 46.58 | 38.44 | 34.58 | 39.52 | 26.11 | 37.70 | 37.50 | 33.47 | |||
| Norway | 55.72 | 62.39 | 50.56 | 43.28 | 53.29 | 35.15 | 45.90 | 47.00 | 42.89 | |||
| United Kingdom | 52.24 | 62.15 | 46.85 | 45.86 | 51.19 | 36.19 | 45.06 | 44.91 | 40.67 | |||
| Libya | - | - | - | 60.79 | 60.79 | - | - | - | - | |||
| Europe and North Africa | 54.30 | 62.35 | 49.86 | 44.01 | 52.75 | 35.47 | 45.77 | 46.59 | 42.39 | |||
| Australia/Timor-Leste | 50.58 | 60.38 | 50.45 | 42.11 | 51.41 | 36.86 | 47.21 | 46.19 | 43.21 | |||
| China | 48.99 | 57.26 | 43.31 | 36.27 | 46.54 | 27.29 | 38.26 | 39.83 | 35.33 | |||
| Indonesia | 43.64 | 61.28 | 36.15 | 38.77 | 45.40 | 32.70 | 44.82 | 41.98 | 39.44 | |||
| Malaysia | 56.33 | 65.51 | 52.84 | 44.95 | 55.23 | 37.87 | 49.15 | 48.46 | 45.07 | |||
| AP/ME | 51.20 | 60.55 | 46.81 | 39.57 | 49.70 | 33.11 | 43.55 | 44.27 | 40.33 | |||
| Total consolidated operations | 48.02 | 57.94 | 46.37 | 40.29 | 48.21 | 31.43 | 42.63 | 43.18 | 38.90 | |||
| Equity affiliates | 49.14 | 59.93 | 47.55 | 42.23 | 49.92 | 33.50 | 46.35 | 44.78 | 41.94 | |||
| Total | 48.05 | 58.00 | 46.41 | 40.35 | 48.26 | 31.47 | 42.72 | 43.21 | 38.97 | |||
| NGL ($/BBL) | ||||||||||||
| Consolidated operations | ||||||||||||
| Lower 48 | 15.55 | 15.29 | 12.55 | 12.67 | 14.01 | 9.45 | 14.59 | 14.57 | 12.93 | |||
| Canada | 18.28 | 19.23 | 14.50 | 16.14 | 17.02 | 11.69 | 13.70 | 14.99 | 13.41 | |||
| Norway | 30.43 | 28.66 | 21.25 | 25.05 | 26.56 | 17.32 | 19.20 | 19.08 | 18.43 | |||
| United Kingdom | 29.69 | 30.90 | 26.72 | 26.75 | 28.29 | 19.65 | 22.96 | 22.77 | 21.95 | |||
| Europe and North Africa | 29.90 | 29.54 | 24.74 | 26.08 | 27.56 | 18.78 | 22.16 | 21.38 | 20.86 | |||
| Australia/Timor-Leste | 41.63 | 40.95 | 32.53 | 36.19 | 38.38 | 28.94 | 29.81 | 26.16 | 28.05 | |||
| Indonesia | 39.31 | 38.95 | 31.89 | 37.09 | 36.62 | 25.46 | 29.43 | 24.36 | 26.76 | |||
| AP/ME | 40.90 | 40.35 | 32.26 | 36.50 | 37.78 | 27.62 | 29.67 | 25.84 | 27.66 | |||
| Total consolidated operations | 18.54 | 18.63 | 14.67 | 15.50 | 16.83 | 11.47 | 15.76 | 15.63 | 14.31 | |||
| Equity affiliates | 38.80 | 38.24 | 31.26 | 34.92 | 35.79 | 27.45 | 29.18 | 25.12 | 27.25 | |||
| Total | 19.60 | 19.62 | 15.54 | 16.42 | 17.79 | 12.30 | 16.55 | 16.18 | 15.04 | |||
| Bitumen ($/BBL) | ||||||||||||
| Consolidated operations | 19.33 | 34.60 | 16.54 | 12.91 | 20.13 | 2.54 | 13.76 | 15.73 | 11.36 | |||
| Equity affiliates | 16.60 | 32.66 | 17.16 | 9.71 | 18.58 | 1.59 | 18.74 | 18.39 | 12.91 | |||
| Total | 16.82 | 32.84 | 17.12 | 10.07 | 18.72 | 1.74 | 18.11 | 17.82 | 12.65 | |||
| Natural Gas ($/MCF) | ||||||||||||
| Consolidated operations | ||||||||||||
| Alaska | 4.29 | 4.50 | 4.26 | 4.25 | 4.33 | 4.84 | 4.82 | 6.95 | 5.20 | |||
| Lower 48 | 2.60 | 2.38 | 2.65 | 2.09 | 2.43 | 1.80 | 1.70 | 2.59 | 2.03 | |||
| Canada | 2.21 | 1.88 | 1.94 | 1.58 | 1.91 | 1.20 | 0.95 | 1.71 | 1.28 | |||
| Norway | 7.67 | 6.84 | 6.79 | 5.18 | 6.59 | 4.03 | 3.22 | 3.54 | 3.63 | |||
| United Kingdom | 8.65 | 7.40 | 7.28 | 6.37 | 7.41 | 5.55 | 4.74 | 4.50 | 4.98 | |||
| Libya | - | - | - | - | - | - | - | - | - | |||
| Europe and North Africa | 8.33 | 7.23 | 7.11 | 5.99 | 7.14 | 5.03 | 4.30 | 4.13 | 4.53 | |||
| Australia/Timor-Leste* | 1.05 | 0.85 | 0.63 | 0.70 | 0.81 | 0.59 | 0.56 | 0.47 | 0.54 | |||
| China | 2.49 | 2.51 | 2.50 | 2.45 | 2.50 | 2.38 | 2.38 | 2.34 | 2.37 | |||
| Indonesia | 6.50 | 7.55 | 6.26 | 5.40 | 6.42 | 4.47 | 5.18 | 5.61 | 5.07 | |||
| Malaysia | 1.21 | 1.49 | 1.71 | 1.11 | 1.39 | 1.54 | 2.38 | 2.33 | 2.24 | |||
| AP/ME | 7.23 | 6.48 | 5.97 | 5.30 | 6.23 | 4.24 | 3.96 | 4.42 | 4.20 | |||
| Total consolidated operations | 4.28 | 3.80 | 3.78 | 3.32 | 3.80 | 2.85 | 2.54 | 3.11 | 2.83 | |||
| Equity affiliates | 7.48 | 4.42 | 4.37 | 3.57 | 4.83 | 3.56 | 2.32 | 2.90 | 2.90 | |||
| Total | 4.72 | 3.90 | 3.87 | 3.36 | 3.96 | 2.99 | 2.49 | 3.05 | 2.85 | |||
| *Excludes transfers to Darwin LNG plant. | ||||||||||||
7 of 8
| 2015 | 2016 | |||||||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||||||||||||
| CORPORATE AND OTHER | ||||||||||||||||||||||
| Corporate and Other Earnings (Loss) ($ Millions) | (249 | ) | (132 | ) | (338 | ) | (90 | ) | (809 | ) | (273 | ) | (335 | ) | (323 | ) | (931 | ) | ||||
| Detail of Earnings (Loss) ($ Millions) | ||||||||||||||||||||||
| Net interest expense* | (155 | ) | (161 | ) | (176 | ) | (26 | ) | (518 | ) | (222 | ) | (234 | ) | (258 | ) | (714 | ) | ||||
| Corporate G&A expenses | (21 | ) | (71 | ) | (71 | ) | (83 | ) | (246 | ) | (85 | ) | (72 | ) | (54 | ) | (211 | ) | ||||
| Technology** | (16 | ) | 88 | 3 | 47 | 122 | 21 | 1 | 44 | 66 | ||||||||||||
| Other | (57 | ) | 12 | (94 | ) | (28 | ) | (167 | ) | 13 | (30 | ) | (55 | ) | (72 | ) | ||||||
| Total | (249 | ) | (132 | ) | (338 | ) | (90 | ) | (809 | ) | (273 | ) | (335 | ) | (323 | ) | (931 | ) | ||||
| *4Q 2015 includes a $209 million tax benefit on interest expense, from prior years, as shown on page 3. | ||||||||||||||||||||||
| **Includes investment in new technologies or businesses outside of our normal scope of operations and licensing revenues. | ||||||||||||||||||||||
| Before-Tax Net Interest Expense ($ Millions) | ||||||||||||||||||||||
| Interest expense | (296 | ) | (307 | ) | (305 | ) | (306 | ) | (1,214 | ) | (321 | ) | (355 | ) | (377 | ) | (1,053 | ) | ||||
| Capitalized interest | 94 | 97 | 65 | 38 | 294 | 40 | 43 | 42 | 125 | |||||||||||||
| Interest revenue | 12 | 13 | 6 | 5 | 36 | 8 | 14 | 21 | 43 | |||||||||||||
| Total | (190 | ) | (197 | ) | (234 | ) | (263 | ) | (884 | ) | (273 | ) | (298 | ) | (314 | ) | (885 | ) | ||||
| Debt | ||||||||||||||||||||||
| Total debt ($ Millions) | 22,511 | 24,925 | 24,891 | 24,880 | 24,880 | 29,455 | 28,677 | 28,689 | 28,689 | |||||||||||||
| Debt-to-capital ratio (%) | 31 | % | 34 | % | 36 | % | 38 | % | 38 | % | 43 | % | 43 | % | 44 | % | 44 | % | ||||
| Equity ($ Millions) | 49,008 | 48,969 | 44,555 | 40,082 | 40,082 | 39,407 | 37,831 | 36,456 | 36,456 | |||||||||||||
| 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 | |||||||||||||||||||||
| 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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