CONOCOPHILLIPS - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - April 25, 2013

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Exhibit 99.2

 
First Quarter 2013 Detailed Supplemental Information
 
2012 2013
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 14,593 13,664 14,141 15,569 57,967 14,166 14,166
Equity in earnings of affiliates 490 529 412 480 1,911 362 362

Gain on dispositions

940 583 118 16 1,657 58 58
Other income 60   66   42   301   469   65         65  
Total Revenues and Other Income 16,083   14,842   14,713   16,366   62,004   14,651         14,651  
 
Costs and Expenses
Purchased commodities 6,078 5,721 6,357 7,076 25,232 5,834 5,834
Production and operating expenses 1,559 1,802 1,637 1,795 6,793 1,687 1,687
Selling, general and administrative expenses 326 235 329 216 1,106 165 165
Exploration expenses 675 265 215 345 1,500 277 277
Depreciation, depletion and amortization 1,571 1,580 1,650 1,779 6,580 1,807 1,807
Impairments 214 82 - 384 680 2 2
Taxes other than income taxes 1,095 900 673 878 3,546 892 892
Accretion on discounted liabilities 105 103 100 86 394 106 106
Interest and debt expense 190 197 161 161 709 130 130
Foreign currency transaction (gains) losses 5   12   -   24   41   (36 )       (36 )
Total Costs and Expenses 11,818   10,897   11,122   12,744   46,581   10,864         10,864  
Income from continuing operations before income taxes 4,265 3,945 3,591 3,622 15,423 3,787 3,787
Provision for income taxes 2,086   2,225   1,851   1,780   7,942   1,763         1,763  
Income from continuing operations 2,179 1,720 1,740 1,842 7,481 2,024 2,024
Income from discontinued operations 776   569   73   (401 ) 1,017   129         129  
Net Income 2,955 2,289 1,813 1,441 8,498 2,153 2,153
Less: net income attributable to noncontrolling interests (18 ) (22 ) (15 ) (15 ) (70 ) (14 )       (14 )
Net Income Attributable to ConocoPhillips 2,937   2,267   1,798   1,426   8,428   2,139         2,139  
 
Net Income Attributable to ConocoPhillips
Per Share of Common Stock (dollars)
Basic
Continuing operations 1.69 1.36 1.41 1.49 5.95 1.64 1.64
Discontinued operations 0.60   0.46   0.06   (0.33 ) 0.82   0.10         0.10  
Net Income Attributable to ConocoPhillips
Per Share of Common Stock 2.29   1.82   1.47   1.16   6.77   1.74         1.74  
Diluted
Continuing operations 1.67 1.35 1.40 1.48 5.91 1.63 1.63
Discontinued operations 0.60   0.45   0.06   (0.32 ) 0.81   0.10         0.10  
Net Income Attributable to ConocoPhillips
Per Share of Common Stock 2.27   1.80   1.46   1.16   6.72   1.73         1.73  
 
Average Common Shares Outstanding (in thousands)
Basic 1,283,493 1,248,300 1,220,462 1,223,422 1,243,799 1,229,232 1,229,232
Diluted   1,293,104   1,258,189   1,229,343   1,231,395   1,253,093   1,235,907         1,235,907  
 
 
INCOME (LOSS) FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES
 
Alaska 983 856 820 882 3,541 842 842
 
Lower 48 and Latin America 426 207 250 279 1,162 260 260
 
Canada (725 ) (134 ) (39 ) (38 ) (936 ) (117 ) (117 )
 
Europe 1,464 1,896 962 1,188 5,510 1,191 1,191
 
Asia Pacific and Middle East 2,204 1,090 1,105 1,175 5,574 1,393 1,393
 
Other International 282 409 798 356 1,845 401 401
 
Corporate and Other (369 ) (379 ) (305 ) (220 ) (1,273 ) (183 ) (183 )
                       
Consolidated 4,265   3,945   3,591   3,622   15,423   3,787         3,787  
 
 
EFFECTIVE INCOME TAX RATES FOR
CONTINUING OPERATIONS
 
Alaska* 36.9 % 35.7 % 34.8 % 35.4 % 35.8 % 35.5 % 35.5 %
 
Lower 48 and Latin America 40.2 % 42.6 % 26.9 % -69.6 % 11.4 % 49.1 % 49.1 %
 
Canada** 24.3 % 29.8 % 19.2 % 73.2 % 26.9 % 213.7 % 213.7 %
 
Europe 73.4 % 64.7 % 86.3 % 74.0 % 72.8 % 63.8 % 63.8 %
 
Asia Pacific and Middle East 20.4 % 27.1 % 38.1 % 35.0 % 28.3 % 33.1 % 33.1 %
 
Other International 92.6 % 114.0 % 38.3 % 127.2 % 80.5 % 96.5 % 96.5 %
 
Corporate and Other 15.8 % 31.1 % 16.7 % 23.9 % 22.0 % 11.7 % 11.7 %
                       
Consolidated 48.9 % 56.4 % 51.5 % 49.1 % 51.5 % 46.6 %       46.6 %
*Alaska including taxes other than income taxes 66.0 % 63.9 % 56.7 % 61.7 % 62.5 % 61.6 % 61.6 %
**Canada first quarter 2013 effective tax rate excluding special items was 22.2%.


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2012   2013
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
$ Millions
EARNINGS BY SEGMENT
 
Alaska 620 551 535 570 2,276 543 543
 
Lower 48 and Latin America* 255 119 182 473 1,029 133 133
 
Canada (549 ) (94 ) (31 ) (10 ) (684 ) 133 133
 
Europe 389 669 132 308 1,498 431 431
 
Asia Pacific and Middle East 1,738 772 669 749 3,928 918 918
 
Other International 21 (57 ) 492 (97 ) 359 14 14
 
Corporate and Other (311 ) (262 ) (254 ) (166 ) (993 ) (162 ) (162 )
 
Discontinued Operations - Phillips 66 712 534 1 (15 ) 1,232 - -
 
Discontinued Operations - Other 62 35 72 (386 ) (217 ) 129 129
                       
Consolidated 2,937   2,267   1,798   1,426   8,428   2,139         2,139  
*Lower 48 only: 234 104 145 262 745 105 105
 
 
SPECIAL ITEMS (AFTER-TAX)
 
Alaska - - - (25 ) (25 ) - -
 
Lower 48 and Latin America* - - - 316 316 (60 ) (60 )
 
Canada (520 ) - - (42 ) (562 ) 224 224
 
Europe - 255 (167 ) (80 ) 8 83 83
 
Asia Pacific and Middle East 937 (17 ) (133 ) - 787 - -
 
Other International - - 443 (108 ) 335 - -
 
Corporate and Other (33 ) (40 ) (118 ) 11 (180 ) 11 11
 
Discontinued Operations - Phillips 66 712 534 1 (15 ) 1,232 - -
 
Discontinued Operations - Other 62 35 72 (386 ) (217 ) 129 129
                       
Consolidated 1,158   767   98   (329 ) 1,694   387         387  
*Lower 48 only: - - - 115 115 (60 ) (60 )
 
 
ADJUSTED EARNINGS
 
Alaska 620 551 535 595 2,301 543 543
 
Lower 48 and Latin America* 255 119 182 157 713 193 193
 
Canada (29 ) (94 ) (31 ) 32 (122 ) (91 ) (91 )
 
Europe 389 414 299 388 1,490 348 348
 
Asia Pacific and Middle East 801 789 802 749 3,141 918 918
 
Other International 21 (57 ) 49 11 24 14 14
 
Corporate and Other (278 ) (222 ) (136 ) (177 ) (813 ) (173 ) (173 )
                       
Consolidated 1,779   1,500   1,700   1,755   6,734   1,752         1,752  
*Lower 48 only: 234 104 145 147 630 165 165


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2012   2013
$ 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 -   -   -   (25 ) (25 ) -         -  
Total   -   -   -   (25 ) (25 ) -         -  
 
Lower 48 and Latin America
Gain (loss) on asset sales - - - - - (39 ) (39 )
Impairments - - - (121 ) (121 ) - -
Tax loss carryforward realization - - - 236 236 (21 ) (21 )
Pending claims and settlements -   -   -   201   201   -         -  
Total   -   -   -   316   316   (60 )       (60 )
 
Canada
Gain (loss) on asset sales - - - - - 224 224
Impairments   (520 ) -   -   (42 ) (562 ) -         -  
Total   (520 ) -   -   (42 ) (562 ) 224         224  
 
Europe
International tax law changes - - (167 ) - (167 ) - -
Gain (loss) on asset sales - 285 - - 285 83 83
Impairments   -   (30 ) -   (80 ) (110 ) -         -  
Total   -   255   (167 ) (80 ) 8   83         83  
 
Asia Pacific and Middle East
Gain (loss) on asset sales 937 - (133 ) - 804 - -
Bohai Bay incidents - (89 ) - - (89 ) - -
Deferred tax adjustment -   72   -   -   72   -         -  
Total   937   (17 ) (133 ) -   787   -         -  
 
Other International
Gain (loss) on asset sales - - 443 - 443 - -
Impairments   -   -   -   (108 ) (108 ) -         -  
Total   -   -   443   (108 ) 335   -         -  
 
Corporate and Other
Gain (loss) on asset sales - - - - - 11 11
Separation costs (33 ) (40 ) (7 ) (4 ) (84 ) - -
Pension settlement expense - - (82 ) (5 ) (87 ) - -
Premium on early debt retirement - - (68 ) - (68 ) - -
Pending claims and settlements -   -   39   20   59   -         -  
Total   (33 ) (40 ) (118 ) 11   (180 ) 11         11  
 
Discontinued Operations - Phillips 66 712   534   1   (15 ) 1,232   -         -  
Discontinued Operations - Other 62   35   72   (386 ) (217 ) 129         129  
 
Total Company 1,158   767   98   (329 ) 1,694   387         387  
*Lower 48 only: - - - 115 115 (60 ) (60 )


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2012   2013
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 2,955 2,289 1,813 1,441 8,498 2,153 2,153
Depreciation, depletion and amortization 1,571 1,580 1,650 1,779 6,580 1,807 1,807
Impairments 214 82 - 384 680 2 2
Dry hole costs and leasehold impairments 518 116 69 171 874 36 36
Accretion on discounted liabilities 105 103 100 86 394 106 106
Deferred taxes 131 284 396 586 1,397 241 241
Undistributed equity earnings (77 ) (179 ) (153 ) (187 ) (596 ) (29 ) (29 )
Gain on dispositions (940 ) (583 ) (118 ) (16 ) (1,657 ) (58 ) (58 )
Income from discontinued operations (776 ) (569 ) (73 ) 401 (1,017 ) (129 ) (129 )
Other 173 (279 ) 53 (403 ) (456 ) (503 ) (503 )
Net working capital changes 196   (766 ) (297 ) (372 ) (1,239 ) 982         982  
Net cash provided by continuing operations 4,070 2,078 3,440 3,870 13,458 4,608 4,608
Net cash provided by (used in) discontinued operations 112   272   80   -   464   122         122  
Net Cash Provided by Operating Activities 4,182   2,350   3,520   3,870   13,922   4,730         4,730  
 
Cash Flows from Investing Activities
Capital expenditures and investments (3,818 ) (3,623 ) (3,279 ) (3,452 ) (14,172 ) (3,391 ) (3,391 )
Proceeds from asset dispositions 1,102 464 522 44 2,132 1,134 1,134
Net sales (purchases) of short-term investments 92 505 - - 597 (23 ) (23 )
Long-term collections from related parties
and other investments 45   23   207   660   935   36         36  
Net cash used in continuing operations (2,579 ) (2,631 ) (2,550 ) (2,748 ) (10,508 ) (2,244 ) (2,244 )
Net cash provided by (used in) discontinued operations (431 ) (284 ) (223 ) (181 ) (1,119 ) (189 )       (189 )
Net Cash Provided by (Used in) Investing Activities (3,010 ) (2,915 ) (2,773 ) (2,929 ) (11,627 ) (2,433 )       (2,433 )
 
Cash Flows from Financing Activities
Net issuance (repayment) of debt (47 ) 831 (1,967 ) 614 (569 ) (48 ) (48 )
Special cash distribution from Phillips 66 - 7,818 - - 7,818 - -
Change in restricted cash - (5,000 ) 2,532 1,720 (748 ) 748 748
Issuance of company common stock 36 9 38 55 138 (10 ) (10 )
Repurchase of company common stock (1,899 ) (3,050 ) (149 ) - (5,098 ) - -
Dividends paid (843 ) (818 ) (808 ) (809 ) (3,278 ) (815 ) (815 )
Other   (199 ) (170 ) (178 ) (178 ) (725 ) (205 )       (205 )
Net cash used in continuing operations (2,952 ) (380 ) (532 ) 1,402 (2,462 ) (330 ) (330 )
Net cash used in discontinued operations (318 ) (1,701 ) -   -   (2,019 ) -         -  
Net Cash Used in Financing Activities (3,270 ) (2,081 ) (532 ) 1,402   (4,481 ) (330 )       (330 )
 
Effect of Exchange Rate Changes 25   (17 ) 9   7   24   (163 )       (163 )
 
Net Change in Cash and Cash Equivalents (2,073 ) (2,663 ) 224 2,350 (2,162 ) 1,804 1,804
Cash and cash equivalents at beginning of period 5,780   3,707   1,044   1,268   5,780   3,618         3,618  
Cash and Cash Equivalents at End of Period 3,707   1,044   1,268   3,618   3,618   5,422         5,422  
 
 
CAPITAL PROGRAM
 
Capital expenditures and investments
Alaska 186 202 208 232 828 262 262
 
Lower 48 and Latin America 1,267 1,288 1,339 1,357 5,251 1,280 1,280
 
Canada 629 428 493 634 2,184 675 675
 
Europe 622 735 738 765 2,860 791 791
 
Asia Pacific and Middle East 699 886 468 377 2,430 337 337
 
Other International 354 34 11 16 415 19 19
 
Corporate and Other 61   50   22   71   204   27         27  
Total capital expenditures and investments 3,818   3,623   3,279   3,452   14,172   3,391         3,391  
 
Joint venture acquisition obligation (principal) - Canada 180   183   183   187   733   189         189  
Total Capital Program 3,998   3,806   3,462   3,639   14,905   3,580         3,580  
Capital Program for Algeria, Nigeria and Kashagan was $189 million and $817 million for the first-quarter 2013 and full-year 2012, respectively.


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2012   2013
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 1,581 1,489 1,470 1,566 1,527 1,555 1,555
Discontinued operations (Algeria and Nigeria) 56   53 55 41 51 41         41  
Total, including equity affiliates 1,637   1,542 1,525 1,607 1,578 1,596         1,596  
 
Crude Oil (MBD)
Consolidated operations 590 554 528 598 567 606 606
Equity affiliates 34   31 25 21 28 20         20  
Total continuing operations 624   585 553 619 595 626         626  
Discontinued operations (Algeria and Nigeria) 26   23 25 17 23 20         20  
Total   650   608 578 636 618 646         646  
Over (under) lifting of crude oil (MBD)* (11 ) 29 32 25 19 (9 )       (9 )

*Includes continuing and discontinued operations.

 
NGL (MBD)
Consolidated operations 155 143 144 152 148 151 151
Equity affiliates 8   7 7 8 8 8         8  
Total continuing operations 163   150 151 160 156 159         159  
Discontinued operations (Nigeria) 3   4 4 3 4 3         3  
Total   166   154 155 163 160 162         162  
 
Bitumen (MBD)
Consolidated operations 11 11 12 12 12 13 13
Equity affiliates 73   77 80 94 81 96         96  
Total   84   88 92 106 93 109         109  
 
Natural Gas (MMCFD)
Consolidated operations 3,756 3,509 3,588 3,592 3,611 3,479 3,479
Equity affiliates 505   491 449 497 485 483         483  
Total continuing operations 4,261   4,000 4,037 4,089 4,096 3,962         3,962  
Discontinued operations (Nigeria) 161   153 162 120 149 110         110  
Total   4,422   4,153 4,199 4,209 4,245 4,072         4,072  
 
Industry Prices (Platt's)
Crude Oil ($/BBL)

WTI

102.99 93.44 92.11 88.09 94.16 94.29 94.29

WCS*

78.50

79.73

68.47

71.22

74.48

61.51

61.51

Brent dated 118.49 108.19 109.61 110.02 111.58 112.55 112.55
JCC 111.43 116.70 121.99 105.85 113.99 113.74 113.74
Natural Gas ($/MMBTU)
Henry Hub first of month 2.72   2.21 2.80 3.41 2.79 3.34         3.34  

* Quoted WCS price reflects a one-month lag.

 
Average Realized Prices
Crude Oil ($/BBL)
Consolidated operations 111.91 105.77 102.79 103.16 105.86 106.17 106.17
Equity affiliates 111.37   99.28 96.57 100.90 102.80 100.27         100.27  
Total continuing operations 111.88   105.43 102.54 103.08 105.72 105.97         105.97  
Discontinued operations (Algeria and Nigeria) 122.73   108.92 106.97 112.15 112.90 112.62         112.62  
Total   112.33   105.56 102.72 103.33 105.98 106.20         106.20  
 
NGL ($/BBL)
Consolidated operations 53.26 42.77 40.02 42.38 44.62 40.87 40.87
Equity affiliates 88.24   70.28 62.18 86.97 77.30 77.32         77.32  
Total continuing operations 55.03   44.36 41.08 44.93 46.36 42.95         42.95  
Discontinued operations (Nigeria) 11.97   15.34 14.26 11.06 13.30 12.30         12.30  
Total   54.11   43.55 40.39 44.15 45.55 42.41         42.41  
 
Bitumen ($/BBL)
Consolidated operations 64.95 54.75 56.23 55.29 57.58 36.78 36.78
Equity affiliates 60.04   50.85 56.95 47.43 53.39 39.52         39.52  
Total   60.66   51.38 56.86 48.32 53.91 39.23         39.23  
 
Natural Gas ($/MCF)
Consolidated operations 5.20 4.72 4.86 5.50 5.07 5.32 5.32
Equity affiliates 8.62   8.98 8.66 7.90 8.54 9.36         9.36  
Total continuing operations 5.61   5.25 5.28 5.79 5.48 5.84         5.84  
Discontinued operations (Nigeria) 2.53   2.51 2.84 2.32 2.57 2.54         2.54  
Total   5.49   5.14 5.18 5.69 5.38 5.74         5.74  
 
 
Exploration Expenses ($ Millions)
Dry holes 6 64 6 79 155 4 4
Leasehold impairment 512   52 63 92 719 32         32  
Total noncash expenses 518 116 69 171 874 36 36
Other (G&A, G&G and lease rentals) 157   149 146 174 626 241         241  
Total exploration expenses 675   265 215 345 1,500 277         277  
 
U.S. exploration expenses 87   96 106 126 415 152         152  
International exploration expenses 588   169 109 219 1,085 125         125  
 
DD&A ($ Millions)
Alaska 134 134 117 131 516 135 135
Lower 48 and Latin America 603 625 657 719 2,604 744 744
Canada 324 333 355 326 1,338 343 343
Europe 266 246 214 267 993 261 261
Asia Pacific and Middle East 211 210 274 303 998 293 293
Other International 9 11 12 13 45 11 11
Corporate and Other 24   21 21 20 86 20         20  
Total DD&A   1,571   1,580 1,650 1,779 6,580 1,807         1,807  


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2012   2013
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr YTD
PRODUCTION
 
 
Crude Oil (MBD)
Consolidated operations
Alaska 208 190 157 196 188 190 190
Lower 48 117 115 124 136 123 148 148
Canada 13 14 14 13 13 14 14
Norway 112 103 97 103 104 100 100
United Kingdom 44 35 20 27 31 24       24
Europe   156 138 117 130 135 124       124
Australia/Timor-Leste 17 15 18 16 16 13 13
China 23 31 48 54 39 57 57
Indonesia 10 8 9 9 9 9 9
Malaysia - - - 4 1 7 7
Vietnam   11 - - - 3 -       -
AP/ME   61 54 75 83 68 86       86
Libya   35 43 41 40 40 44       44
Other International 35 43 41 40 40 44       44
Total consolidated operations 590 554 528 598 567 606       606
Equity affiliates 34 31 25 21 28 20       20
Total continuing operations 624 585 553 619 595 626       626
Discontinued operations (Algeria and Nigeria) 26 23 25 17 23 20       20
Total   650 608 578 636 618 646       646
 
NGL (MBD)
Consolidated operations
Alaska 18 16 10 17 16 18 18
Lower 48 84 83 87 87 85 87 87
Canada 25 22 25 24 24 26 26
Norway 5 4 3 3 4 3 3
United Kingdom 5 4 2 4 3 3       3
Europe   10 8 5 7 7 6       6
Australia/Timor-Leste 12 9 12 12 11 10 10
Indonesia 6 5 5 5 5 4       4
AP/ME   18 14 17 17 16 14       14
Total consolidated operations 155 143 144 152 148 151       151
Equity affiliates 8 7 7 8 8 8       8
Total continuing operations 163 150 151 160 156 159       159
Discontinued operations (Nigeria) 3 4 4 3 4 3       3
Total   166 154 155 163 160 162       162
 
Bitumen (MBD)
Consolidated operations 11 11 12 12 12 13 13
Equity affiliates 73 77 80 94 81 96       96
Total   84 88 92 106 93 109       109
 
Natural Gas (MMCFD)
Consolidated operations
Alaska 59 56 51 56 55 56 56
Lower 48 1,502 1,456 1,507 1,508 1,493 1,441 1,441
Canada 863 864 874 826 857 806 806
Norway 195 141 127 176 160 161 161
United Kingdom 437 399 287 302 356 300       300
Europe   632 540 414 478 516 461       461
Australia/Timor-Leste 249 159 261 251 230 251 251
China - 1 4 5 3 4 4
Indonesia 441 427 444 438 437 428 428
Malaysia - - - - - 1 1
Vietnam   7 - - - 2 -       -
AP/ME   697 587 709 694 672 684       684
Libya   3 6 33 30 18 31       31
Other International 3 6 33 30 18 31       31
Total consolidated operations 3,756 3,509 3,588 3,592 3,611 3,479       3,479
Equity affiliates 505 491 449 497 485 483       483
Total continuing operations 4,261 4,000 4,037 4,089 4,096 3,962       3,962
Discontinued operations (Nigeria) 161 153 162 120 149 110       110
Total   4,422 4,153 4,199 4,209 4,245 4,072       4,072
 
Total (MBOED)
Consolidated operations
Alaska 236 215 176 222 213 218 218
Lower 48 451 441 462 475 457 475 475
Canada 193 191 197 187 192 187 187
Norway 149 131 121 135 135 130 130
United Kingdom 122 105 70 81 93 77       77
Europe   271 236 191 216 228 207       207
Australia/Timor-Leste 70 51 73 69 66 65 65
China 23 31 49 55 40 58 58
Indonesia 90 84 88 87 87 84 84
Malaysia - - - 4 1 7 7
Vietnam   12 - - - 3 -       -
AP/ME   195 166 210 215 197 214       214
Libya   36 43 47 45 43 49       49
Other International 36 43 47 45 43 49       49
Total consolidated operations 1,382 1,292 1,283 1,360 1,330 1,350       1,350
Equity affiliates 199 197 187 206 197 205       205
Total continuing operations 1,581 1,489 1,470 1,566 1,527 1,555       1,555
Discontinued operations (Algeria and Nigeria) 56 53 55 41 51 41       41
Total   1,637 1,542 1,525 1,607 1,578 1,596       1,596


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2012   2013
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 112.20 112.38 106.53 106.91 109.62 110.79 110.79
Lower 48 99.00 89.61 90.06 88.63 91.67 93.69 93.69
Canada 83.85 74.76 77.19 77.71 78.26 72.85 72.85
Norway 122.49 109.50 111.74 111.87 113.80 114.75 114.75
United Kingdom 116.54 111.55 104.55 109.54 110.31 111.07       111.07
Europe   121.25 109.89 109.67 111.51 113.08 114.11       114.11
Australia/Timor-Leste 113.00 103.53 105.47 103.31 106.66 107.76 107.76
China 122.02 113.71 107.68 105.01 109.94 110.91 110.91
Indonesia 109.16 96.96 91.45 93.95 98.21 93.32 93.32
Malaysia - - - - - 119.87 119.87
Vietnam   126.02 - - - 126.02 -       -
AP/ME   117.66 109.12 105.12 103.34 108.20 109.35       109.35
Libya   121.68 109.52 108.00 109.95 110.75 112.18       112.18
Other International 121.68 109.52 108.00 109.95 110.75 112.18       112.18
Total consolidated operations 111.91 105.77 102.79 103.16 105.86 106.17       106.17
Equity affiliates 111.37 99.28 96.57 100.90 102.80 100.27       100.27
Total continuing operations 111.88 105.43 102.54 103.08 105.72 105.97       105.97
Discontinued operations (Algeria and Nigeria) 122.73 108.92 106.97 112.15 112.90 112.62       112.62
Total   112.33 105.56 102.72 103.33 105.98 106.20       106.20
 
NGL ($/BBL)
Consolidated operations
Lower 48 44.90 34.62 31.40 31.32 35.45 29.58 29.58
Canada 54.13 48.66 45.31 46.28 48.64 50.15 50.15
Norway 57.56 53.57 55.56 72.71 59.22 59.77 59.77
United Kingdom 61.10 56.38 59.72 74.83 63.84 60.61       60.61
Europe   59.29 54.81 57.62 73.94 61.53 60.10       60.10
Australia/Timor-Leste 88.97 70.98 74.68 85.00 80.03 77.42 77.42
Indonesia 90.85 72.30 63.40 84.60 77.58 78.10       78.10
AP/ME   89.56 71.39 71.06 84.88 79.26 77.59       77.59
Total consolidated operations 53.26 42.77 40.02 42.38 44.62 40.87       40.87
Equity affiliates 88.24 70.28 62.18 86.97 77.30 77.32       77.32
Total continuing operations 55.03 44.36 41.08 44.93 46.36 42.95       42.95
Discontinued operations (Nigeria) 11.97 15.34 14.26 11.06 13.30 12.30       12.30
Total   54.11 43.55 40.39 44.15 45.55 42.41       42.41
 
Bitumen ($/BBL)
Consolidated operations 64.95 54.75 56.23 55.29 57.58 36.78 36.78
Equity affiliates 60.04 50.85 56.95 47.43 53.39 39.52       39.52
Total   60.66 51.38 56.86 48.32 53.91 39.23       39.23
 
Natural Gas ($/MCF)
Consolidated operations
Alaska 4.68 3.93 3.97 4.28 4.22 5.20 5.20
Lower 48 2.65 2.10 2.64 3.24 2.67 3.19 3.19
Canada 1.98 1.61 2.05 2.92 2.13 2.89 2.89
Norway 10.40 9.58 8.47 10.26 9.77 10.69 10.69
United Kingdom 9.80 9.49 9.06 10.72 9.76 10.87       10.87
Europe   9.98 9.52 8.87 10.56 9.76 10.81       10.81
Australia/Timor-Leste* 1.10 1.10 1.18 1.12 1.12 1.10 1.10
China - 2.46 2.44 2.39 2.41 2.50 2.50
Indonesia 10.37 12.85 9.94 10.14 10.80 11.57 11.57
Vietnam   1.15 - - - 1.15 -       -
AP/ME   10.40 11.47 10.64 10.15 10.63 10.71       10.71
Libya   0.09 0.09 6.77 5.19 5.55 4.86       4.86
Other International 0.09 0.09 6.77 5.19 5.55 4.86       4.86
Total consolidated operations 5.20 4.72 4.86 5.50 5.07 5.32       5.32
Equity affiliates 8.62 8.98 8.66 7.90 8.54 9.36       9.36
Total continuing operations 5.61 5.25 5.28 5.79 5.48 5.84       5.84
Discontinued operations (Nigeria) 2.53 2.51 2.84 2.32 2.57 2.54       2.54
Total   5.49 5.14 5.18 5.69 5.38 5.74       5.74
*Excludes transfers to Darwin LNG plant.


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2012   2013
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) (311 ) (262 ) (254 ) (166 ) (993 ) (162 )       (162 )
 
 
Detail of Earnings (Loss) ($ Millions)
Net interest expense (161 ) (160 ) (214 ) (113 ) (648 ) (108 ) (108 )
Corporate G&A expenses (74 ) (44 ) (128 ) (67 ) (313 ) (27 ) (27 )
Technology* (18 ) (22 ) 46 (10 ) (4 ) (8 ) (8 )
Separation costs

(33

) (40 ) (7 ) (4 ) (84 ) - -
Other   (25 ) 4   49   28   56   (19 )       (19 )
Total   (311 ) (262 ) (254 ) (166 ) (993 ) (162 )       (162 )
* 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 (309 ) (315 ) (294 ) (303 ) (1,221 ) (287 ) (287 )
Capitalized interest 146 145 157 167 615 179 179
Interest revenue 11 18 7 60 96 10 10
Premium on early debt retirement -   -   (79 ) -   (79 ) -         -  
Total   (152 ) (152 ) (209 ) (76 ) (589 ) (98 )       (98 )
 
Debt
Total debt ($ Millions) 28,360 23,008 21,117 21,725 21,725 21,670

21,670

Debt-to-capital ratio (%) 30 % 33 % 31 % 31 % 31 % 31 %       31 %
 
Equity ($ Millions) 67,057   46,443   47,877   48,427   48,427   49,240         49,240  
 
 
 
REFERENCE
 
Commonly Used Abbreviations
Earnings Net Income (Loss) Attributable to ConocoPhillips
DD&A Depreciation, Depletion and Amortization
FX Foreign Currency
G&G Geological and Geophysical
G&A General and Administrative
JCC Japan Crude Cocktail
LNG Liquefied Natural Gas
NGL Natural Gas Liquids
R&D Research and Development
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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