Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - CONOCOPHILLIPS | a51704805_ex991.htm |
| 8-K - CONOCOPHILLIPS 8-K - CONOCOPHILLIPS | a51704805.htm |
Exhibit 99.2
| Third-Quarter 2017 Detailed Supplemental Information | |||||||||||||||||||||
| 2016 | 2017 | ||||||||||||||||||||
| 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 | 5,121 | 5,348 | 6,415 | 6,809 | 23,693 | 7,518 | 6,781 | 6,688 | 20,987 | ||||||||||||
| Equity in earnings (losses) of affiliates | (149 | ) | 80 | (60 | ) | 181 | 52 | 200 | 178 | 196 | 574 | ||||||||||
| Gain on dispositions | 23 | 128 | 51 | 158 | 360 | 22 | 1,876 | 246 | 2,144 | ||||||||||||
| Other income | 20 | 19 | 110 | 106 | 255 | 31 | 47 | 65 | 143 | ||||||||||||
| Total Revenues and Other Income | 5,015 | 5,575 | 6,516 | 7,254 | 24,360 | 7,771 | 8,882 | 7,195 | 23,848 | ||||||||||||
| Costs and Expenses | |||||||||||||||||||||
| Purchased commodities | 2,225 | 2,002 | 2,819 | 2,948 | 9,994 | 3,192 | 2,922 | 2,926 | 9,040 | ||||||||||||
| Production and operating expenses | 1,354 | 1,445 | 1,526 | 1,342 | 5,667 | 1,298 | 1,327 | 1,224 | 3,849 | ||||||||||||
| Selling, general and administrative expenses | 186 | 167 | 203 | 167 | 723 | 157 | 134 | 132 | 423 | ||||||||||||
| Exploration expenses | 505 | 610 | 457 | 343 | 1,915 | 551 | 98 | 75 | 724 | ||||||||||||
| Depreciation, depletion and amortization | 2,247 | 2,329 | 2,425 | 2,061 | 9,062 | 1,979 | 1,625 | 1,608 | 5,212 | ||||||||||||
| Impairments | 136 | 62 | 123 | (182 | ) | 139 | 175 | 6,294 | 6 | 6,475 | |||||||||||
| Taxes other than income taxes | 180 | 197 | 161 | 201 | 739 | 231 | 198 | 175 | 604 | ||||||||||||
| Accretion on discounted liabilities | 109 | 112 | 108 | 96 | 425 | 95 | 92 | 89 | 276 | ||||||||||||
| Interest and debt expense | 281 | 312 | 335 | 317 | 1,245 | 315 | 306 | 251 | 872 | ||||||||||||
| Foreign currency transaction (gains) losses | 16 | (17 | ) | 13 | (31 | ) | (19 | ) | 10 | 13 | 5 | 28 | |||||||||
| Other expense | - | - | - | - | - | - | 234 | 51 | 285 | ||||||||||||
| Total Costs and Expenses | 7,239 | 7,219 | 8,170 | 7,262 | 29,890 | 8,003 | 13,243 | 6,542 | 27,788 | ||||||||||||
| Income (loss) before income taxes | (2,224 | ) | (1,644 | ) | (1,654 | ) | (8 | ) | (5,530 | ) | (232 | ) | (4,361 | ) | 653 | (3,940 | ) | ||||
| Income tax provision (benefit) | (768 | ) | (586 | ) | (628 | ) | 11 | (1,971 | ) | (831 | ) | (935 | ) | 217 | (1,549 | ) | |||||
| Net Income (Loss) | (1,456 | ) | (1,058 | ) | (1,026 | ) | (19 | ) | (3,559 | ) | 599 | (3,426 | ) | 436 | (2,391 | ) | |||||
| Less: net income attributable to noncontrolling interests | (13 | ) | (13 | ) | (14 | ) | (16 | ) | (56 | ) | (13 | ) | (14 | ) | (16 | ) | (43 | ) | |||
| Net Income (Loss) Attributable to ConocoPhillips | (1,469 | ) | (1,071 | ) | (1,040 | ) | (35 | ) | (3,615 | ) | 586 | (3,440 | ) | 420 | (2,434 | ) | |||||
| Net Income (Loss) Attributable to ConocoPhillips | |||||||||||||||||||||
| Per Share of Common Stock (dollars) | |||||||||||||||||||||
| Basic | (1.18 | ) | (0.86 | ) | (0.84 | ) | (0.03 | ) | (2.91 | ) | 0.47 | (2.78 | ) | 0.35 | (1.98 | ) | |||||
| Diluted | (1.18 | ) | (0.86 | ) | (0.84 | ) | (0.03 | ) | (2.91 | ) |
|
0.47 | (2.78 | ) | 0.34 | (1.98 | ) | ||||
| Average Common Shares Outstanding (in thousands) | |||||||||||||||||||||
| Basic | 1,244,557 | 1,244,892 | 1,245,961 | 1,246,337 | 1,245,440 | 1,243,280 | 1,236,831 | 1,212,454 | 1,230,742 | ||||||||||||
| Diluted | 1,244,557 | 1,244,892 | 1,245,961 | 1,246,337 | 1,245,440 | 1,248,722 | 1,236,831 | 1,215,341 | 1,230,742 | ||||||||||||
| *Ending Common Shares Outstanding is 1,195,516 as of Sep. 30, 2017, compared with 1,216,949 as of Jun. 30, 2017. | |||||||||||||||||||||
| INCOME (LOSS) BEFORE INCOME TAXES | |||||||||||||||||||||
| Alaska | (52 | ) | 98 | 36 | 179 | 261 | 6 | 215 | 159 | 380 | |||||||||||
| Lower 48 | (1,279 | ) | (1,213 | ) | (767 | ) | (327 | ) | (3,586 | ) | (562 | ) | (4,013 | ) | (148 | ) | (4,723 | ) | |||
| Canada | (418 | ) | (238 | ) | (442 | ) | (220 | ) | (1,318 | ) | (87 | ) | 1,846 | 243 | 2,002 | ||||||
| Europe and North Africa | (146 | ) | 14 | (9 | ) | 488 | 347 | 533 | 276 | 303 | 1,112 | ||||||||||
| Asia Pacific and Middle East | 89 | 157 | 19 | 305 | 570 | 392 | (2,052 | ) | 452 | (1,208 | ) | ||||||||||
| Other International | (32 | ) | (38 | ) | (62 | ) | 77 | (55 | ) | (68 | ) | (11 | ) | (15 | ) | (94 | ) | ||||
| Corporate and Other | (386 | ) | (424 | ) | (429 | ) | (510 | ) | (1,749 | ) | (446 | ) | (622 | ) | (341 | ) | (1,409 | ) | |||
| Consolidated | (2,224 | ) | (1,644 | ) | (1,654 | ) | (8 | ) | (5,530 | ) | (232 | ) | (4,361 | ) | 653 | (3,940 | ) | ||||
| EFFECTIVE INCOME TAX RATES | |||||||||||||||||||||
| Alaska* | 96.4 | % | -50.1 | % | -64.0 | % | 35.7 | % | -22.5 | % | 295.2 | % | 7.4 | % | 35.3 | % | 23.4 | % | |||
| Lower 48 | 35.8 | % | 36.5 | % | 36.0 | % | 46.4 | % | 37.0 | % | 35.5 | % | 36.8 | % | 34.8 | % | 36.6 | % | |||
| Canada | 29.8 | % | 26.3 | % | 28.9 | % | 30.9 | % | 29.1 | % | 1193.9 | % | 25.2 | % | -14.8 | % | -30.2 | % | |||
| Europe and North Africa | 65.3 | % | -41.6 | % | 1930.7 | % | 46.4 | % | -13.3 | % | 67.8 | % | 55.5 | % | 72.0 | % | 65.9 | % | |||
| Asia Pacific and Middle East | 90.8 | % | 46.1 | % | 478.6 | % | 20.0 | % | 53.6 | % | 36.6 | % | -5.2 | % | 8.9 | % | -24.0 | % | |||
| Other International | 24.3 | % | 24.3 | % | 23.2 | % | -10.8 | % | 71.3 | % | 29.6 | % | 14.2 | % | -27.3 | % | 18.5 | % | |||
| Corporate and Other | 29.1 | % | 21.2 | % | 24.7 | % | 22.1 | % | 24.1 | % | 22.0 | % | 31.8 | % | 4.2 | % | 22.0 | % | |||
| Consolidated | 34.5 | % | 35.6 | % | 38.0 | % | -113.2 | % | 35.6 | % | 359.0 | % | 21.4 | % | 33.2 | % | 39.3 | % | |||
| *Alaska including taxes other than income taxes. | 61.2 | % | 15.5 | % | 36.4 | % | 55.2 | % | 38.5 | % | 111.9 | % | 32.2 | % | 56.6 | % | 53.3 | % | |||
1 of 8
| 2016 | 2017 | ||||||||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||||||||
| $ Millions | |||||||||||||||||||||
| EARNINGS BY SEGMENT | |||||||||||||||||||||
| Alaska | (2 | ) | 147 | 59 | 115 | 319 | (11 | ) | 199 | 103 | 291 | ||||||||||
| Lower 48 | (820 | ) | (771 | ) | (491 | ) | (175 | ) | (2,257 | ) | (362 | ) | (2,536 | ) | (97 | ) | (2,995 | ) | |||
| Canada | (294 | ) | (175 | ) | (314 | ) | (152 | ) | (935 | ) | 948 | 1,379 | 280 | 2,607 | |||||||
| Europe and North Africa | (51 | ) | 20 | 163 | 262 | 394 | 171 | 123 | 85 | 379 | |||||||||||
| Asia Pacific and Middle East | (5 | ) | 72 | (87 | ) | 229 | 209 | 236 | (2,172 | ) | 396 | (1,540 | ) | ||||||||
| Other International | (24 | ) | (29 | ) | (47 | ) | 84 | (16 | ) | (48 | ) | (9 | ) | (20 | ) | (77 | ) | ||||
| Corporate and Other | (273 | ) | (335 | ) | (323 | ) | (398 | ) | (1,329 | ) | (348 | ) | (424 | ) | (327 | ) | (1,099 | ) | |||
| Consolidated | (1,469 | ) | (1,071 | ) | (1,040 | ) | (35 | ) | (3,615 | ) | 586 | (3,440 | ) | 420 | (2,434 | ) | |||||
| SPECIAL ITEMS | |||||||||||||||||||||
| Alaska | - | 93 | (6 | ) | (1 | ) | 86 | (110 | ) | 32 | - | (78 | ) | ||||||||
| Lower 48 | (172 | ) | (148 | ) | (88 | ) | 44 | (364 | ) | (33 | ) | (2,464 | ) | (40 | ) | (2,537 | ) | ||||
| Canada | - | - | (30 | ) | (51 | ) | (81 | ) | 977 | 1,366 | 304 | 2,647 | |||||||||
| Europe and North Africa | (60 | ) | - | 160 | 180 | 280 | - | 41 | - | 41 | |||||||||||
| Asia Pacific and Middle East | - | - | (174 | ) | 47 | (127 | ) | - | (2,384 | ) | 83 | (2,301 | ) | ||||||||
| Other International | - | - | - | 138 | 138 | (28 | ) | - | - | (28 | ) | ||||||||||
| Corporate and Other | (58 | ) | (31 | ) | (76 | ) | (74 | ) | (239 | ) | (43 | ) | (209 | ) | (125 | ) | (377 | ) | |||
| Consolidated | (290 | ) | (86 | ) | (214 | ) | 283 | (307 | ) | 763 | (3,618 | ) | 222 | (2,633 | ) | ||||||
| Detailed reconciliation of these items is provided on page 3. | |||||||||||||||||||||
| ADJUSTED EARNINGS | |||||||||||||||||||||
| Alaska | (2 | ) | 54 | 65 | 116 | 233 | 99 | 167 | 103 | 369 | |||||||||||
| Lower 48 | (648 | ) | (623 | ) | (403 | ) | (219 | ) | (1,893 | ) | (329 | ) | (72 | ) | (57 | ) | (458 | ) | |||
| Canada | (294 | ) | (175 | ) | (284 | ) | (101 | ) | (854 | ) | (29 | ) | 13 | (24 | ) | (40 | ) | ||||
| Europe and North Africa | 9 | 20 | 3 | 82 | 114 | 171 | 82 | 85 | 338 | ||||||||||||
| Asia Pacific and Middle East | (5 | ) | 72 | 87 | 182 | 336 | 236 | 212 | 313 | 761 | |||||||||||
| Other International | (24 | ) | (29 | ) | (47 | ) | (54 | ) | (154 | ) | (20 | ) | (9 | ) | (20 | ) | (49 | ) | |||
| Corporate and Other | (215 | ) | (304 | ) | (247 | ) | (324 | ) | (1,090 | ) | (305 | ) | (215 | ) | (202 | ) | (722 | ) | |||
| Consolidated | (1,179 | ) | (985 | ) | (826 | ) | (318 | ) | (3,308 | ) | (177 | ) | 178 | 198 | 199 | ||||||
| ADJUSTED EFFECTIVE INCOME TAX RATES | |||||||||||||||||||||
| Alaska | 96.4 | % | -28.5 | % | -41.6 | % | 35.9 | % | -7.7 | % | 44.9 | % | 22.3 | % | 35.3 | % | 33.4 | % | |||
| Lower 48 | 36.0 | % | 35.6 | % | 36.1 | % | 36.6 | % | 36.0 | % | 35.5 | % | 37.9 | % | 39.2 | % | 36.4 | % | |||
| Canada | 29.8 | % | 26.3 | % | 27.9 | % | 32.7 | % | 28.8 | % | 50.9 | % | -83.2 | % | 34.7 | % | 55.2 | % | |||
| Europe and North Africa | 135.4 | % | -41.6 | % | 136.9 | % | 54.1 | % | 28.3 | % | 67.8 | % | 70.4 | % | 72.0 | % | 69.6 | % | |||
| Asia Pacific and Middle East | 90.8 | % | 46.1 | % | 47.2 | % | 35.5 | % | 47.4 | % | 36.6 | % | 31.9 | % | 27.2 | % | 31.6 | % | |||
| Other International | 24.3 | % | 24.3 | % | 23.2 | % | 23.3 | % | 23.6 | % | 20.4 | % | 14.2 | % | -27.3 | % | 4.8 | % | |||
| Corporate and Other | 28.8 | % | 20.0 | % | 21.8 | % | 19.6 | % | 22.2 | % | 21.1 | % | 39.2 | % | 22.7 | % | 27.9 | % | |||
| Consolidated | 33.6 | % | 31.0 | % | 30.7 | % | 0.4 | % | 29.9 | % | 232.5 | % | 45.2 | % | 57.7 | % | 75.3 | % | |||
2 of 8
| 2016 | 2017 | ||||||||||||||||||||
| $ 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 | - | - | (10 | ) | (2 | ) | (12 | ) | - | - | - | - | |||||||||
| Gain (loss) on asset sales | - | 56 | - | - | 56 | - | - | - | - | ||||||||||||
| Impairments | - | - | - | - | - | (174 | ) | - | - | (174 | ) | ||||||||||
| Subtotal before income taxes | - | 56 | (10 | ) | (2 | ) | 44 | (174 | ) | - | - | (174 | ) | ||||||||
| Income tax provision (benefit)1 | - | (37 | ) | (4 | ) | (1 | ) | (42 | ) | (64 | ) | (32 | ) | - | (96 | ) | |||||
| Total | - | 93 | (6 | ) | (1 | ) | 86 | (110 | ) | 32 | - | (78 | ) | ||||||||
| Lower 48 | |||||||||||||||||||||
| Restructuring | - | - | (35 | ) | (4 | ) | (39 | ) | - | (15 | ) | (3 | ) | (18 | ) | ||||||
| Impairments | (266 | ) | (246 | ) | - | (69 | ) | (581 | ) | (51 | ) | (3,882 | ) | (2 | ) | (3,935 | ) | ||||
| Rig termination | - | - | (134 | ) | - | (134 | ) | - | - | - | - | ||||||||||
| Pending claims and settlements | - | - | 33 | - | 33 | - | - | - | - | ||||||||||||
| Minnesota iron ore reversionary interest | - | - | - | 92 | 92 | - | - | - | - | ||||||||||||
| Gain (loss) on asset sales | - | - | - | - | - | - | - | (50 | ) | (50 | ) | ||||||||||
| Subtotal before income taxes | (266 | ) | (246 | ) | (136 | ) | 19 | (629 | ) | (51 | ) | (3,897 | ) | (55 | ) | (4,003 | ) | ||||
| Income tax provision (benefit)1 | (94 | ) | (98 | ) | (48 | ) | (25 | ) | (265 | ) | (18 | ) | (1,433 | ) | (15 | ) | (1,466 | ) | |||
| Total | (172 | ) | (148 | ) | (88 | ) | 44 | (364 | ) | (33 | ) | (2,464 | ) | (40 | ) | (2,537 | ) | ||||
| Canada | |||||||||||||||||||||
| Gain (loss) on asset sales | - | - | 37 | - | 37 | - | 1,855 | 281 | 2,136 | ||||||||||||
| Impairments | - | - | (57 | ) | (70 | ) | (127 | ) | - | (18 | ) | - | (18 | ) | |||||||
| Restructuring | - | - | (28 | ) | - | (28 | ) | (27 | ) | 1 | - | (26 | ) | ||||||||
| Subtotal before income taxes | - | - | (48 | ) | (70 | ) | (118 | ) | (27 | ) | 1,838 | 281 | 2,092 | ||||||||
| Income tax provision (benefit)2 | - | - | (18 | ) | (19 | ) | (37 | ) | (1,004 | ) | 472 | (23 | ) | (555 | ) | ||||||
| Total | - | - | (30 | ) | (51 | ) | (81 | ) | 977 | 1,366 | 304 | 2,647 | |||||||||
| Europe and North Africa | |||||||||||||||||||||
| Restructuring | - | - | (2 | ) | (1 | ) | (3 | ) | - | - | - | - | |||||||||
| Impairments | (119 | ) | - | - | 311 | 192 | - | - | - | - | |||||||||||
| Subtotal before income taxes | (119 | ) | - | (2 | ) | 310 | 189 | - | - | - | - | ||||||||||
| Income tax provision (benefit)3 | (59 | ) | - | (162 | ) | 130 | (91 | ) | - | (41 | ) | - | (41 | ) | |||||||
| Total | (60 | ) | - | 160 | 180 | 280 | - | 41 | - | 41 | |||||||||||
| Asia Pacific and Middle East | |||||||||||||||||||||
| APLNG tax functional currency change | - | - | (174 | ) | - | (174 | ) | - | - | - | - | ||||||||||
| Impairments | - | - | - | - | - | - | (2,384 | ) | - | (2,384 | ) | ||||||||||
| Subtotal before income taxes | - | - | (174 | ) | - | (174 | ) | - | (2,384 | ) | - | (2,384 | ) | ||||||||
| Income tax provision (benefit)4 | - | - | - | (47 | ) | (47 | ) | - | - | (83 | ) | (83 | ) | ||||||||
| Total | - | - | (174 | ) | 47 | (127 | ) | - | (2,384 | ) | 83 | (2,301 | ) | ||||||||
| Other International | |||||||||||||||||||||
| Gain (loss) on asset sales | - | - | - | 146 | 146 | - | - | - | - | ||||||||||||
| Rig termination | - | - | - | - | - | (43 | ) | - | - | (43 | ) | ||||||||||
| Subtotal before income taxes | - | - | - | 146 | 146 | (43 | ) | - | - | (43 | ) | ||||||||||
| Income tax provision (benefit) | - | - | - | 8 | 8 | (15 | ) | - | - | (15 | ) | ||||||||||
| Total | - | - | - | 138 | 138 | (28 | ) | - | - | (28 | ) | ||||||||||
| Corporate and Other | |||||||||||||||||||||
| Restructuring | - | - | (70 | ) | (6 | ) | (76 | ) | - | - | - | - | |||||||||
| Pension settlement expense | (83 | ) | (45 | ) | (23 | ) | (52 | ) | (203 | ) | (60 | ) | (36 | ) | (20 | ) | (116 | ) | |||
| Impairments | - | - | - | (50 | ) | (50 | ) | - | - | - | - | ||||||||||
| Pending claims and settlements | - | - | (20 | ) | - | (20 | ) | - | 2 | (9 | ) | (7 | ) | ||||||||
| Premiums on early debt retirement | - | - | - | - | - | - | (234 | ) | (51 | ) | (285 | ) | |||||||||
| Subtotal before income taxes | (83 | ) | (45 | ) | (113 | ) | (108 | ) | (349 | ) | (60 | ) | (268 | ) | (80 | ) | (408 | ) | |||
| Income tax provision (benefit)5 | (25 | ) | (14 | ) | (37 | ) | (34 | ) | (110 | ) | (17 | ) | (59 | ) | 45 | (31 | ) | ||||
| Total | (58 | ) | (31 | ) | (76 | ) | (74 | ) | (239 | ) | (43 | ) | (209 | ) | (125 | ) | (377 | ) | |||
| Total Company | (290 | ) | (86 | ) | (214 | ) | 283 | (307 | ) | 763 | (3,618 | ) | 222 | (2,633 | ) | ||||||
| 1Includes deferred tax adjustment in 2Q 2016 and 2Q 2017 in Lower 48 and Alaska and pending claims and settlements in 2Q 2017 in Alaska. | |||||||||||||||||||||
| 2Includes tax adjustment related to Canadian disposition in 1Q 2017 and 3Q 2017 tax benefit related to our prior decision to exit Nova Scotia deepwater exploration. | |||||||||||||||||||||
| 3Includes international tax law change for 3Q 2016 and pending claims and settlements in 2Q 2017. | |||||||||||||||||||||
| 4Includes Malaysia deferred tax recognition in 4Q 2016 and pending claims and settlements in 3Q 2017. | |||||||||||||||||||||
| 5Includes pending claims and settlements in 3Q 2017. | |||||||||||||||||||||
3 of 8
| 2016 | 2017 | |||||||||||||||||||
| 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) | (1,456 | ) | (1,058 | ) | (1,026 | ) | (19 | ) | (3,559 | ) | 599 | (3,426 | ) | 436 | (2,391 | ) | ||||
| Depreciation, depletion and amortization | 2,247 | 2,329 | 2,425 | 2,061 | 9,062 | 1,979 | 1,625 | 1,608 | 5,212 | |||||||||||
| Impairments | 136 | 62 | 123 | (182 | ) | 139 | 175 | 6,294 | 6 | 6,475 | ||||||||||
| Dry hole costs and leasehold impairments | 360 | 463 | 187 | 174 | 1,184 | 406 | 22 | 7 | 435 | |||||||||||
| Accretion on discounted liabilities | 109 | 112 | 108 | 96 | 425 | 95 | 92 | 89 | 276 | |||||||||||
| Deferred taxes | (827 | ) | (630 | ) | (695 | ) | (69 | ) | (2,221 | ) | (1,314 | ) | (1,234 | ) | (222 | ) | (2,770 | ) | ||
| Distributions received greater than equity losses | ||||||||||||||||||||
| (undistributed equity earnings) | 252 | (30 | ) | 192 | (115 | ) | 299 | (43 | ) | (78 | ) | (72 | ) | (193 | ) | |||||
| Gain on dispositions | (23 | ) | (128 | ) | (51 | ) | (158 | ) | (360 | ) | (22 | ) | (1,876 | ) | (246 | ) | (2,144 | ) | ||
| Other | (126 | ) | 109 | (33 | ) | (35 | ) | (85 | ) | (47 | ) | 222 | (542 | ) | (367 | ) | ||||
| Net working capital changes | (251 | ) | 30 | 50 | (310 | ) | (481 | ) | (38 | ) | 110 | (9 | ) | 63 | ||||||
| Net Cash Provided by Operating Activities | 421 | 1,259 | 1,280 | 1,443 | 4,403 | 1,790 | 1,751 | 1,055 | 4,596 | |||||||||||
| Cash Flows from Investing Activities | ||||||||||||||||||||
| Capital expenditures and investments | (1,821 | ) | (1,133 | ) | (916 | ) | (999 | ) | (4,869 | ) | (966 | ) | (1,020 | ) | (1,088 | ) | (3,074 | ) | ||
| Working capital changes associated with investing activities | (134 | ) | (229 | ) | (38 | ) | 70 | (331 | ) | (26 | ) | (87 | ) | 95 | (18 | ) | ||||
| Proceeds from asset dispositions | 135 | 228 | 56 | 867 | 1,286 | 35 | 10,707 | 2,998 | 13,740 | |||||||||||
| Net sales (purchases) of short-term investments | (302 | ) | (990 | ) | 1,063 | 178 | (51 | ) | (203 | ) | (2,450 | ) | 70 | (2,583 | ) | |||||
| Long-term collections from (advances to) | ||||||||||||||||||||
| related parties and other investments | 57 | 2 | 110 | (63 | ) | 106 | 186 | 47 | (67 | ) | 166 | |||||||||
| Net Cash Provided by (Used in) Investing Activities | (2,065 | ) | (2,122 | ) | 275 | 53 | (3,859 | ) | (974 | ) | 7,197 | 2,008 | 8,231 | |||||||
| Cash Flows from Financing Activities | ||||||||||||||||||||
| Net issuance (repayment) of debt | 4,530 | (763 | ) | (12 | ) | (1,412 | ) | 2,343 | (839 | ) | (3,240 | ) | (2,515 | ) | (6,594 | ) | ||||
| Issuance of company common stock | (42 | ) | (3 | ) | (7 | ) | (11 | ) | (63 | ) | (46 | ) | (17 | ) | (2 | ) | (65 | ) | ||
| Repurchase of company common stock | - | - | - | (126 | ) | (126 | ) | (112 | ) | (963 | ) | (970 | ) | (2,045 | ) | |||||
| Dividends paid | (313 | ) | (313 | ) | (314 | ) | (313 | ) | (1,253 | ) | (331 | ) | (331 | ) | (324 | ) | (986 | ) | ||
| Other | (38 | ) | (41 | ) | (14 | ) | (44 | ) | (137 | ) | (16 | ) | (48 | ) | (16 | ) | (80 | ) | ||
| Net Cash Provided by (Used in) Financing Activities | 4,137 | (1,120 | ) | (347 | ) | (1,906 | ) | 764 | (1,344 | ) | (4,599 | ) | (3,827 | ) | (9,770 | ) | ||||
| Effect of Exchange Rate Changes | 5 | (20 | ) | 19 | (70 | ) | (66 | ) | 27 | 76 | 141 | 244 | ||||||||
| Net Change in Cash and Cash Equivalents | 2,498 | (2,003 | ) | 1,227 | (480 | ) | 1,242 | (501 | ) | 4,425 | (623 | ) | 3,301 | |||||||
| Cash and cash equivalents at beginning of period | 2,368 | 4,866 | 2,863 | 4,090 | 2,368 | 3,610 | 3,109 | 7,534 | 3,610 | |||||||||||
| Cash and Cash Equivalents at End of Period | 4,866 | 2,863 | 4,090 | 3,610 | 3,610 | 3,109 | 7,534 | 6,911 | 6,911 | |||||||||||
| CAPITAL EXPENDITURES AND INVESTMENTS | ||||||||||||||||||||
| Alaska | 320 | 183 | 199 | 181 | 883 | 228 | 229 | 179 | 636 | |||||||||||
| Lower 48 | 580 | 237 | 175 | 270 | 1,262 | 343 | 383 | 508 | 1,234 | |||||||||||
| Canada | 254 | 214 | 85 | 145 | 698 | 62 | 85 | 33 | 180 | |||||||||||
| Europe and North Africa | 303 | 271 | 227 | 219 | 1,020 | 200 | 212 | 245 | 657 | |||||||||||
| Asia Pacific and Middle East | 306 | 179 | 215 | 138 | 838 | 109 | 93 | 114 | 316 | |||||||||||
| Other International | 41 | 37 | 3 | 23 | 104 | 5 | 5 | 7 | 17 | |||||||||||
| Corporate and Other | 17 | 12 | 12 | 23 | 64 | 19 | 13 | 2 | 34 | |||||||||||
| Total Capital Expenditures and Investments | 1,821 | 1,133 | 916 | 999 | 4,869 | 966 | 1,020 | 1,088 | 3,074 | |||||||||||
4 of 8
| 2016 | 2017 | ||||||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | ||||||
| TOTAL SEGMENTS | |||||||||||||||
| Production | |||||||||||||||
| Total (MBOED) | 1,578 | 1,546 | 1,557 | 1,596 | 1,569 | 1,593 | 1,437 | 1,226 | 1,418 | ||||||
| Crude Oil (MBD) | |||||||||||||||
| Consolidated operations | 605 | 577 | 571 | 582 | 584 | 588 | 576 | 568 | 577 | ||||||
| Equity affiliates | 12 | 15 | 15 | 14 | 14 | 13 | 14 | 14 | 14 | ||||||
| Total | 617 | 592 | 586 | 596 | 598 | 601 | 590 | 582 | 591 | ||||||
| Over (under) lifting of crude oil (MBD) | 37 | (8 | ) | 45 | (30 | ) | 11 | 36 | 28 | 11 | 25 | ||||
| NGL (MBD) | |||||||||||||||
| Consolidated operations | 139 | 137 | 140 | 133 | 137 | 127 | 119 | 87 | 112 | ||||||
| Equity affiliates | 7 | 8 | 8 | 10 | 8 | 7 | 8 | 8 | 7 | ||||||
| Total | 146 | 145 | 148 | 143 | 145 | 134 | 127 | 95 | 119 | ||||||
| Bitumen (MBD) | |||||||||||||||
| Consolidated operations | 27 | 19 | 41 | 50 | 35 | 52 | 52 | 63 | 56 | ||||||
| Equity affiliates | 139 | 141 | 152 | 163 | 148 | 171 | 85 | - | 84 | ||||||
| Total | 166 | 160 | 193 | 213 | 183 | 223 | 137 | 63 | 140 | ||||||
| Natural Gas (MMCFD) | |||||||||||||||
| Consolidated operations | 3,096 | 2,991 | 2,829 | 2,916 | 2,958 | 2,874 | 2,484 | 1,878 | 2,408 | ||||||
| Equity affiliates | 799 | 902 | 948 | 947 | 899 | 935 | 1,015 | 1,040 | 997 | ||||||
| Total | 3,895 | 3,893 | 3,777 | 3,863 | 3,857 | 3,809 | 3,499 | 2,918 | 3,405 | ||||||
| Industry Prices | |||||||||||||||
| Crude Oil ($/BBL) | |||||||||||||||
| WTI | 33.27 | 45.48 | 44.88 | 49.18 | 43.20 | 51.83 | 48.24 | 48.16 | 49.41 | ||||||
| WCS | 19.03 | 32.18 | 31.38 | 34.85 | 29.36 | 37.25 | 37.12 | 38.22 | 37.53 | ||||||
| Brent dated | 33.89 | 45.57 | 45.85 | 49.46 | 43.69 | 53.78 | 49.83 | 52.09 | 51.90 | ||||||
| JCC ($/BBL) | 45.97 | 33.09 | 41.30 | 46.14 | 41.63 | 47.21 | 54.95 | 53.16 | 51.77 | ||||||
| Natural Gas ($/MMBTU) | |||||||||||||||
| Henry Hub first of month | 2.09 | 1.95 | 2.81 | 2.98 | 2.46 | 3.32 | 3.19 | 2.99 | 3.17 | ||||||
| Average Realized Prices | |||||||||||||||
| Crude Oil ($/BBL) | |||||||||||||||
| Consolidated operations | 31.43 | 42.63 | 43.18 | 46.96 | 40.78 | 50.86 | 48.11 | 49.31 | 49.43 | ||||||
| Equity affiliates | 33.50 | 46.35 | 44.78 | 50.82 | 44.11 | 55.58 | 50.55 | 52.29 | 52.87 | ||||||
| Total | 31.47 | 42.72 | 43.21 | 47.05 | 40.86 | 50.97 | 48.16 | 49.39 | 49.51 | ||||||
| NGL ($/BBL) | |||||||||||||||
| Consolidated operations | 11.47 | 15.76 | 15.63 | 20.23 | 15.72 | 23.81 | 19.97 | 22.50 | 22.14 | ||||||
| Equity affiliates | 27.45 | 29.18 | 25.12 | 39.27 | 31.13 | 43.20 | 34.49 | 35.94 | 37.59 | ||||||
| Total | 12.30 | 16.55 | 16.18 | 21.82 | 16.68 | 24.87 | 20.99 | 23.82 | 23.25 | ||||||
| Bitumen ($/BBL) | |||||||||||||||
| Consolidated operations | 2.54 | 13.76 | 15.73 | 15.72 | 12.91 | 15.63 | 19.28 | 24.19 | 19.93 | ||||||
| Equity affiliates | 1.59 | 18.74 | 18.39 | 23.36 | 15.80 | 23.63 | 24.19 | - | 23.83 | ||||||
| Total | 1.74 | 18.11 | 17.82 | 21.64 | 15.27 | 21.56 | 22.42 | 24.19 | 22.25 | ||||||
| Natural Gas ($/MCF) | |||||||||||||||
| Consolidated operations | 2.85 | 2.54 | 3.11 | 3.53 | 3.00 | 3.78 | 3.64 | 3.88 | 3.76 | ||||||
| Equity affiliates | 3.56 | 2.32 | 2.90 | 3.17 | 2.97 | 4.00 | 4.29 | 4.51 | 4.28 | ||||||
| Total | 2.99 | 2.49 | 3.05 | 3.44 | 3.00 | 3.84 | 3.83 | 4.11 | 3.91 | ||||||
| Exploration Expenses ($ Millions) | |||||||||||||||
| Dry holes | 180 | 249 | 163 | 126 | 718 | 343 | 14 | (3 | ) | 354 | |||||
| Leasehold impairment | 180 | 214 | 24 | 48 | 466 | 63 | 8 | 10 | 81 | ||||||
| Total noncash expenses | 360 | 463 | 187 | 174 | 1,184 | 406 | 22 | 7 | 435 | ||||||
| Other (G&A, G&G and lease rentals) | 145 | 147 | 270 | 169 | 731 | 145 | 76 | 68 | 289 | ||||||
| Total exploration expenses | 505 | 610 | 457 | 343 | 1,915 | 551 | 98 | 75 | 724 | ||||||
| U.S. exploration expenses | 443 | 559 | 199 | 76 | 1,277 | 427 | 44 | 40 | 511 | ||||||
| International exploration expenses | 62 | 51 | 258 | 267 | 638 | 124 | 54 | 35 | 213 | ||||||
| DD&A ($ Millions) | |||||||||||||||
| Alaska | 207 | 235 | 214 | 211 | 867 | 234 | 216 | 188 | 638 | ||||||
| Lower 48 | 1,048 | 1,148 | 1,152 | 861 | 4,209 | 819 | 666 | 612 | 2,097 | ||||||
| Canada | 191 | 203 | 275 | 218 | 887 | 196 | 70 | 84 | 350 | ||||||
| Europe and North Africa | 378 | 320 | 373 | 342 | 1,413 | 346 | 318 | 317 | 981 | ||||||
| Asia Pacific and Middle East | 399 | 399 | 386 | 378 | 1,562 | 350 | 321 | 374 | 1,045 | ||||||
| Other International | - | - | - | 1 | 1 | - | - | - | - | ||||||
| Corporate and Other | 24 | 24 | 25 | 50 | 123 | 34 | 34 | 33 | 101 | ||||||
| Total DD&A | 2,247 | 2,329 | 2,425 | 2,061 | 9,062 | 1,979 | 1,625 | 1,608 | 5,212 | ||||||
5 of 8
| 2016 | 2017 | |||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||
| PRODUCTION | ||||||||||||
| Crude Oil (MBD) | ||||||||||||
| Alaska | 170 | 163 | 148 | 170 | 163 | 175 | 169 | 154 | 166 | |||
| Lower 48 | 202 | 206 | 195 | 176 | 195 | 176 | 179 | 175 | 176 | |||
| Canada | 8 | 8 | 7 | 6 | 7 | 6 | 3 | 1 | 3 | |||
| Norway | 95 | 78 | 98 | 99 | 93 | 103 | 99 | 95 | 99 | |||
| United Kingdom | 30 | 27 | 23 | 29 | 27 | 28 | 26 | 23 | 26 | |||
| Libya | - | - | - | 9 | 2 | 9 | 11 | 23 | 14 | |||
| Europe and North Africa | 125 | 105 | 121 | 137 | 122 | 140 | 136 | 141 | 139 | |||
| Australia/Timor-Leste | 7 | 8 | 10 | 7 | 8 | 7 | 6 | 6 | 6 | |||
| China | 45 | 42 | 40 | 37 | 41 | 41 | 38 | 37 | 39 | |||
| Indonesia | 10 | 8 | 9 | 5 | 8 | 2 | 2 | 2 | 2 | |||
| Malaysia | 38 | 37 | 41 | 44 | 40 | 41 | 43 | 52 | 46 | |||
| Equity affiliates | 12 | 15 | 15 | 14 | 14 | 13 | 14 | 14 | 14 | |||
| AP/ME | 112 | 110 | 115 | 107 | 111 | 104 | 103 | 111 | 107 | |||
| Total | 617 | 592 | 586 | 596 | 598 | 601 | 590 | 582 | 591 | |||
| NGL (MBD) | ||||||||||||
| Alaska | 14 | 11 | 11 | 15 | 12 | 15 | 14 | 11 | 14 | |||
| Lower 48 | 86 | 90 | 92 | 83 | 88 | 75 | 79 | 64 | 73 | |||
| Canada | 25 | 22 | 23 | 21 | 23 | 23 | 13 | 1 | 12 | |||
| Norway | 3 | 2 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | |||
| United Kingdom | 4 | 4 | 3 | 4 | 4 | 5 | 5 | 3 | 4 | |||
| Europe and North Africa | 7 | 6 | 6 | 7 | 7 | 9 | 9 | 7 | 8 | |||
| Australia/Timor-Leste | 4 | 5 | 7 | 5 | 5 | 5 | 4 | 4 | 5 | |||
| Indonesia | 3 | 3 | 1 | 2 | 2 | - | - | - | - | |||
| Equity affiliates | 7 | 8 | 8 | 10 | 8 | 7 | 8 | 8 | 7 | |||
| AP/ME | 14 | 16 | 16 | 17 | 15 | 12 | 12 | 12 | 12 | |||
| Total | 146 | 145 | 148 | 143 | 145 | 134 | 127 | 95 | 119 | |||
| Bitumen (MBD) | ||||||||||||
| Consolidated operations | 27 | 19 | 41 | 50 | 35 | 52 | 52 | 63 | 56 | |||
| Equity affiliates | 139 | 141 | 152 | 163 | 148 | 171 | 85 | - | 84 | |||
| Total | 166 | 160 | 193 | 213 | 183 | 223 | 137 | 63 | 140 | |||
| Natural Gas (MMCFD) | ||||||||||||
| Alaska | 38 | 27 | 18 | 16 | 25 | 7 | 7 | 5 | 7 | |||
| Lower 48 | 1,216 | 1,244 | 1,224 | 1,192 | 1,219 | 1,116 | 1,142 | 765 | 1,007 | |||
| Canada | 566 | 532 | 517 | 483 | 524 | 488 | 247 | 10 | 246 | |||
| Norway | 174 | 133 | 127 | 183 | 154 | 213 | 188 | 193 | 198 | |||
| United Kingdom | 332 | 324 | 230 | 333 | 305 | 328 | 284 | 209 | 273 | |||
| Libya | 1 | 1 | 1 | 2 | 1 | 3 | 4 | 6 | 4 | |||
| Europe and North Africa | 507 | 458 | 358 | 518 | 460 | 544 | 476 | 408 | 475 | |||
| Australia/Timor-Leste | 309 | 312 | 260 | 274 | 289 | 284 | 260 | 241 | 261 | |||
| China | 1 | 1 | 1 | - | 1 | - | - | - | - | |||
| Indonesia | 445 | 382 | 399 | 344 | 393 | 327 | 276 | 323 | 309 | |||
| Malaysia | 14 | 35 | 52 | 89 | 47 | 108 | 76 | 126 | 103 | |||
| Equity affiliates | 799 | 902 | 948 | 947 | 899 | 935 | 1,015 | 1,040 | 997 | |||
| AP/ME | 1,568 | 1,632 | 1,660 | 1,654 | 1,629 | 1,654 | 1,627 | 1,730 | 1,670 | |||
| Total | 3,895 | 3,893 | 3,777 | 3,863 | 3,857 | 3,809 | 3,499 | 2,918 | 3,405 | |||
| Total (MBOED) | ||||||||||||
| Alaska | 191 | 179 | 162 | 187 | 179 | 191 | 184 | 166 | 181 | |||
| Lower 48 | 491 | 503 | 491 | 458 | 486 | 437 | 448 | 366 | 417 | |||
| Consolidated operations | 154 | 138 | 157 | 158 | 152 | 162 | 109 | 67 | 112 | |||
| Equity affiliates | 139 | 141 | 152 | 163 | 148 | 171 | 85 | - | 84 | |||
| Canada | 293 | 279 | 309 | 321 | 300 | 333 | 194 | 67 | 196 | |||
| Norway | 127 | 102 | 122 | 133 | 121 | 143 | 134 | 131 | 136 | |||
| United Kingdom | 89 | 85 | 65 | 88 | 82 | 88 | 78 | 61 | 76 | |||
| Libya | - | - | - | 9 | 2 | 9 | 12 | 24 | 15 | |||
| Europe and North Africa | 216 | 187 | 187 | 230 | 205 | 240 | 224 | 216 | 227 | |||
| Australia/Timor-Leste | 63 | 65 | 60 | 58 | 61 | 59 | 53 | 50 | 55 | |||
| China | 45 | 42 | 40 | 37 | 41 | 41 | 38 | 37 | 39 | |||
| Indonesia | 87 | 75 | 77 | 64 | 76 | 57 | 48 | 56 | 53 | |||
| Malaysia | 40 | 43 | 50 | 59 | 48 | 59 | 56 | 73 | 63 | |||
| Equity affiliates | 152 | 173 | 181 | 182 | 173 | 176 | 192 | 195 | 187 | |||
| AP/ME | 387 | 398 | 408 | 400 | 399 | 392 | 387 | 411 | 397 | |||
| Total | 1,578 | 1,546 | 1,557 | 1,596 | 1,569 | 1,593 | 1,437 | 1,226 | 1,418 | |||
6 of 8
| 2016 | 2017 | |||||||||||
| 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 3rd Qtr | 4th Qtr | YTD | |||
| AVERAGE REALIZED PRICES | ||||||||||||
| Crude Oil ($/BBL) | ||||||||||||
| Consolidated operations | ||||||||||||
| Alaska | 32.54 | 44.39 | 43.43 | 48.15 | 41.93 | 52.09 | 49.95 | 50.53 | 50.81 | |||
| Lower 48 | 27.04 | 39.50 | 40.09 | 44.15 | 37.49 | 45.89 | 43.38 | 45.29 | 44.84 | |||
| Canada | 26.11 | 37.70 | 37.50 | 41.50 | 35.25 | 43.82 | 43.35 | - | 43.46 | |||
| Norway | 35.15 | 45.90 | 47.00 | 49.15 | 44.09 | 54.14 | 51.19 | 51.94 | 52.57 | |||
| United Kingdom | 36.19 | 45.06 | 44.91 | 48.17 | 42.14 | 50.09 | 51.72 | 46.88 | 49.74 | |||
| Libya | - | - | - | - | - | 52.98 | 48.77 | 51.00 | 51.11 | |||
| Europe and North Africa | 35.47 | 45.77 | 46.59 | 48.93 | 43.66 | 53.34 | 50.98 | 51.05 | 51.90 | |||
| Australia/Timor-Leste | 36.86 | 47.21 | 46.19 | 48.54 | 44.06 | 53.85 | 49.43 | 50.35 | 51.54 | |||
| China | 27.29 | 38.26 | 39.83 | 45.19 | 37.64 | 50.31 | 46.00 | 49.09 | 48.56 | |||
| Indonesia | 32.70 | 44.82 | 41.98 | 37.18 | 39.08 | 42.45 | 37.44 | 38.89 | 39.45 | |||
| Malaysia | 37.87 | 49.15 | 48.46 | 52.52 | 47.06 | 58.13 | 52.64 | 54.66 | 55.01 | |||
| AP/ME | 33.11 | 43.55 | 44.27 | 48.40 | 42.23 | 53.74 | 49.28 | 52.06 | 51.73 | |||
| Total consolidated operations | 31.43 | 42.63 | 43.18 | 46.96 | 40.78 | 50.86 | 48.11 | 49.31 | 49.43 | |||
| Equity affiliates | 33.50 | 46.35 | 44.78 | 50.82 | 44.11 | 55.58 | 50.55 | 52.29 | 52.87 | |||
| Total | 31.47 | 42.72 | 43.21 | 47.05 | 40.86 | 50.97 | 48.16 | 49.39 | 49.51 | |||
| NGL ($/BBL) | ||||||||||||
| Consolidated operations | ||||||||||||
| Lower 48 | 9.45 | 14.59 | 14.57 | 18.83 | 14.34 | 22.07 | 18.99 | 20.72 | 20.55 | |||
| Canada | 11.69 | 13.70 | 14.99 | 19.52 | 14.82 | 21.32 | 20.96 | - | 21.44 | |||
| Norway | 17.32 | 19.20 | 19.08 | 22.52 | 19.57 | 31.77 | 24.24 | 28.86 | 29.90 | |||
| United Kingdom | 19.65 | 22.96 | 22.77 | 28.79 | 23.96 | 30.32 | 25.32 | 33.07 | 29.44 | |||
| Europe and North Africa | 18.78 | 22.16 | 21.38 | 26.95 | 22.62 | 31.21 | 24.88 | 31.16 | 29.69 | |||
| Australia/Timor-Leste | 28.94 | 29.81 | 26.16 | 35.85 | 29.69 | 42.96 | 34.54 | 35.74 | 38.28 | |||
| Indonesia | 25.46 | 29.43 | 24.36 | 30.04 | 27.36 | - | - | - | - | |||
| AP/ME | 27.62 | 29.67 | 25.84 | 34.30 | 29.00 | 42.96 | 34.54 | 35.74 | 38.28 | |||
| Total consolidated operations | 11.47 | 15.76 | 15.63 | 20.23 | 15.72 | 23.81 | 19.97 | 22.50 | 22.14 | |||
| Equity affiliates | 27.45 | 29.18 | 25.12 | 39.27 | 31.13 | 43.20 | 34.49 | 35.94 | 37.59 | |||
| Total | 12.30 | 16.55 | 16.18 | 21.82 | 16.68 | 24.87 | 20.99 | 23.82 | 23.25 | |||
| Bitumen ($/BBL) | ||||||||||||
| Consolidated operations | 2.54 | 13.76 | 15.73 | 15.72 | 12.91 | 15.63 | 19.28 | 24.19 | 19.93 | |||
| Equity affiliates | 1.59 | 18.74 | 18.39 | 23.36 | 15.80 | 23.63 | 24.19 | - | 23.83 | |||
| Total | 1.74 | 18.11 | 17.82 | 21.64 | 15.27 | 21.56 | 22.42 | 24.19 | 22.25 | |||
| Natural Gas ($/MCF) | ||||||||||||
| Consolidated operations | ||||||||||||
| Alaska | 4.84 | 4.82 | 6.95 | 5.38 | 5.22 | 3.53 | 1.43 | 4.55 | 2.77 | |||
| Lower 48 | 1.80 | 1.70 | 2.59 | 2.72 | 2.20 | 2.83 | 2.72 | 2.63 | 2.74 | |||
| Canada | 1.20 | 0.95 | 1.71 | 2.18 | 1.49 | 1.95 | 2.00 | - | 1.95 | |||
| Norway | 4.03 | 3.22 | 3.54 | 4.59 | 3.92 | 5.52 | 4.87 | 5.00 | 5.16 | |||
| United Kingdom | 5.55 | 4.74 | 4.50 | 5.50 | 5.12 | 6.07 | 4.99 | 5.20 | 5.47 | |||
| Libya | - | - | - | - | - | - | - | 0.09 | 0.09 | |||
| Europe and North Africa | 5.03 | 4.30 | 4.13 | 5.17 | 4.71 | 5.86 | 4.95 | 5.09 | 5.34 | |||
| Australia/Timor-Leste* | 0.59 | 0.56 | 0.47 | 0.56 | 0.54 | 0.57 | 0.77 | 0.64 | 0.66 | |||
| China | 2.38 | 2.38 | 2.34 | 2.30 | 2.36 | - | - | - | - | |||
| Indonesia | 4.47 | 5.18 | 5.61 | 5.77 | 5.22 | 6.52 | 6.34 | 5.81 | 6.22 | |||
| Malaysia | 1.54 | 2.38 | 2.33 | 2.74 | 2.48 | 2.82 | 3.07 | 3.30 | 3.08 | |||
| AP/ME | 4.24 | 3.96 | 4.42 | 4.62 | 4.31 | 4.96 | 5.05 | 4.63 | 4.87 | |||
| Total consolidated operations | 2.85 | 2.54 | 3.11 | 3.53 | 3.00 | 3.78 | 3.64 | 3.88 | 3.76 | |||
| Equity affiliates | 3.56 | 2.32 | 2.90 | 3.17 | 2.97 | 4.00 | 4.29 | 4.51 | 4.28 | |||
| Total | 2.99 | 2.49 | 3.05 | 3.44 | 3.00 | 3.84 | 3.83 | 4.11 | 3.91 | |||
| *Excludes transfers to Darwin LNG plant. | ||||||||||||
7 of 8
| 2016 | 2017 | ||||||||||||||||||||
| 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) | (273 | ) | (335 | ) | (323 | ) | (398 | ) | (1,329 | ) | (348 | ) | (424 | ) | (327 | ) | (1,099 | ) | |||
| Detail of Earnings (Loss) ($ Millions) | |||||||||||||||||||||
| Net interest expense | (222 | ) | (234 | ) | (258 | ) | (266 | ) | (980 | ) | (253 | ) | (174 | ) | (176 | ) | (603 | ) | |||
| Corporate G&A expenses | (85 | ) | (72 | ) | (54 | ) | (78 | ) | (289 | ) | (93 | ) | (64 | ) | (56 | ) | (213 | ) | |||
| Technology* | 21 | 1 | 44 | (16 | ) | 50 | 9 | - | 20 | 29 | |||||||||||
| Other | 13 | (30 | ) | (55 | ) | (38 | ) | (110 | ) | (11 | ) | (186 | ) | (115 | ) | (312 | ) | ||||
| Total | (273 | ) | (335 | ) | (323 | ) | (398 | ) | (1,329 | ) | (348 | ) | (424 | ) | (327 | ) | (1,099 | ) | |||
| *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 | (321 | ) | (355 | ) | (377 | ) | (349 | ) | (1,402 | ) | (340 | ) | (336 | ) | (282 | ) | (958 | ) | |||
| Capitalized interest | 40 | 43 | 42 | 32 | 157 | 25 | 30 | 31 | 86 | ||||||||||||
| Interest revenue | 8 | 14 | 21 | 3 | 46 | 11 | 17 | 29 | 57 | ||||||||||||
| Total | (273 | ) | (298 | ) | (314 | ) | (314 | ) | (1,199 | ) | (304 | ) | (289 | ) | (222 | ) | (815 | ) | |||
| Debt | |||||||||||||||||||||
| Total debt ($ Millions) | 29,455 | 28,677 | 28,689 | 27,275 | 27,275 | 26,435 | 23,468 | 21,004 | 21,004 | ||||||||||||
| Debt-to-capital ratio (%) | 43 | % | 43 | % | 44 | % | 44 | % | 44 | % | 43 | % | 43 | % | 41 | % | 41 | % | |||
| Equity ($ Millions) | 39,407 | 37,831 | 36,456 | 35,226 | 35,226 | 35,601 | 30,499 | 30,712 | 30,712 | ||||||||||||
| 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 |
8 of 8