Stock Analysis on Net
Stock Analysis on Net

ConocoPhillips (NYSE:COP)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

ConocoPhillips, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Accounts payable 5.32 5.91 4.92 5.37 5.37 5.39 5.33 5.49 5.16 5.58 6.57 6.61 6.27 5.25 5.54 4.73 4.23 4.54 4.31 3.55 3.30 4.49
Short-term debt 0.34 0.49 0.84 1.36 1.37 1.17 1.12 0.94 0.98 1.44 0.44 0.70 0.72 1.24 1.32 1.05 1.41 0.82 0.99 0.76 0.23 0.19
Accrued income and other taxes 1.42 2.35 2.00 2.56 2.10 2.22 1.89 2.05 1.89 3.11 3.40 3.36 2.94 3.39 3.16 2.38 1.65 1.15 0.51 0.54 0.49 1.31
Employee benefit obligations 0.58 0.52 0.89 0.65 0.54 0.42 0.81 0.74 0.62 0.46 0.78 0.66 0.56 0.48 0.83 0.79 0.67 0.68 0.97 0.74 0.67 0.50
Other accruals 1.31 1.45 1.22 1.20 1.38 1.46 1.28 1.82 2.01 2.04 2.50 3.43 2.54 2.10 2.40 3.01 1.59 1.40 1.79 1.76 1.82 2.85
Current liabilities 8.96% 10.73% 9.87% 11.13% 10.75% 10.66% 10.43% 11.04% 10.66% 12.63% 13.69% 14.76% 13.04% 12.46% 13.26% 11.97% 9.54% 8.58% 8.57% 7.35% 6.51% 9.34%
Long-term debt 18.85 18.65 18.97 17.57 17.75 18.15 18.62 19.41 17.37 16.69 17.29 17.18 17.39 18.85 20.66 21.47 22.02 23.11 23.56 23.60 23.56 22.83
Asset retirement obligations and accrued environmental costs 6.71 6.56 6.59 7.59 7.54 7.49 7.53 6.86 7.09 6.92 6.82 6.04 6.12 6.23 6.35 6.55 6.81 6.91 8.67 8.95 8.67 8.17
Deferred income taxes 9.60 9.24 9.31 9.29 9.30 9.20 9.19 8.89 8.97 8.67 8.23 7.61 7.14 7.03 6.82 6.45 6.24 5.95 5.98 6.10 6.19 6.37
Employee benefit obligations 0.81 0.80 0.83 0.98 1.03 1.01 1.05 1.02 1.09 1.10 1.14 1.15 1.15 1.16 1.27 1.33 1.52 1.83 2.71 2.63 2.52 2.40
Other liabilities and deferred credits 1.58 1.52 1.66 1.86 1.80 1.75 1.81 1.79 1.77 1.73 1.65 1.51 1.57 1.53 1.56 1.69 2.02 2.06 2.84 2.63 2.61 2.62
Noncurrent liabilities 37.55% 36.77% 37.35% 37.28% 37.42% 37.61% 38.20% 37.98% 36.30% 35.11% 35.15% 33.49% 33.38% 34.79% 36.66% 37.50% 38.61% 39.85% 43.76% 43.91% 43.54% 42.40%
Total liabilities 46.52% 47.50% 47.23% 48.42% 48.18% 48.27% 48.63% 49.02% 46.95% 47.74% 48.84% 48.25% 46.42% 47.25% 49.92% 49.47% 48.16% 48.44% 52.33% 51.26% 50.05% 51.74%
Common stock, $0.01 par value 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.03
Capital in excess of par 63.33 62.42 63.14 63.53 63.94 64.29 63.91 65.42 68.27 66.82 65.16 64.41 65.15 65.28 66.82 69.22 70.65 72.02 75.27 74.60 74.67 72.31
Treasury stock, at cost -60.28 -58.48 -57.95 -71.55 -70.84 -70.24 -68.43 -68.90 -70.55 -67.70 -64.15 -60.57 -58.32 -56.10 -56.17 -56.72 -56.53 -56.96 -75.53 -74.62 -74.75 -72.47
Accumulated other comprehensive loss -4.81 -5.15 -5.27 -6.04 -6.21 -6.21 -5.91 -6.37 -6.61 -6.59 -6.39 -6.18 -5.67 -5.15 -5.46 -5.87 -5.76 -6.07 -8.33 -8.97 -9.24 -9.45
Retained earnings 55.23 53.70 52.83 65.63 64.91 63.87 61.79 60.81 61.92 59.70 56.52 54.07 52.40 48.70 44.86 43.88 43.46 42.55 56.23 57.71 59.24 57.73
Common stockholders’ equity 53.48% 52.50% 52.77% 51.58% 51.82% 51.73% 51.37% 50.98% 53.05% 52.26% 51.16% 51.75% 53.58% 52.75% 50.08% 50.53% 51.84% 51.56% 47.67% 48.74% 49.95% 48.15%
Noncontrolling interests 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11
Total equity 53.48% 52.50% 52.77% 51.58% 51.82% 51.73% 51.37% 50.98% 53.05% 52.26% 51.16% 51.75% 53.58% 52.75% 50.08% 50.53% 51.84% 51.56% 47.67% 48.74% 49.95% 48.26%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

The financial data over the observed quarters exhibits several notable trends in the composition of liabilities and equity percentages relative to total liabilities and equity.

Current Liabilities
Accounts payable showed fluctuation, generally increasing from around 3.3% in mid-2020 to a peak above 6.6% by late 2022, followed by a moderate decline toward the end of the period. Short-term debt experienced volatility, peaking close to 1.44% in early 2023 but declining thereafter to levels below 0.5% in mid-2025. Accrued income and other taxes increased substantially through 2021, reaching over 3.4%, then declined somewhat in subsequent quarters. Employee benefit obligations and other accruals presented minor oscillations, generally staying below 1% and 3.5%, respectively.
Current liabilities as a whole
This category rose markedly from approximately 6.5% in mid-2020 to near 14.8% by late 2022, before showing a gradual decrease to just below 9% by mid-2025, indicating a build-up and subsequent reduction in short-term obligations.
Long-term Debt
There is a clear downward trend in long-term debt relative to total liabilities and equity, decreasing from about 23.6% in late 2020 to around 17.5% by 2024. Minor fluctuations occurred but did not interrupt the general declining pattern.
Other Noncurrent Liabilities
Asset retirement obligations and accrued environmental costs slightly declined from a peak near 9% in late 2020 to about 6.5%-7.5% in the later periods. Deferred income taxes steadily increased over the years, climbing from just under 6.4% in early 2020 to around 9.6% by mid-2025. Employee benefit obligations on a noncurrent basis steadily decreased from around 2.7% to below 1% over the same period, reflecting a reduction in long-term employee liabilities. Other liabilities and deferred credits remained stable between approximately 1.5% to 2% throughout the period analyzed.
Total Noncurrent Liabilities
A decline is evident from above 43.5% in mid-2020 to a range near 37% in the latest quarters, which mirrors the trends observed in most constituent noncurrent liability categories.
Total Liabilities
The total liabilities percentage decreased somewhat from approximately 52% in early 2020 to around 46.5% by mid-2025, indicating a gradual reduction in the overall proportion of liabilities to total liabilities and equity.
Equity Components
Common stock remained nearly constant at roughly 0.02%-0.03%, having minimal impact on overall equity structure. Capital in excess of par showed a declining trend from about 75% in early 2020 to approximately 63% towards mid-2025, implying changes in the capital base. Treasury stock, recorded as a negative percentage, increased in magnitude from about -72.5% in early 2020 to around -71.5% by 2024, peaking even more negatively in some quarters, indicating continued repurchase or value adjustments.
Other Equity Elements
Accumulated other comprehensive loss lessened in negative impact from near -9.4% in early 2020 to about -4.8% by mid-2025, suggesting improving comprehensive income or reduction in accumulated losses. Retained earnings displayed a strong growth trend from roughly 42.5% in early 2021 to about 65.6% by late 2024, although a slight reduction occurred after this peak, reflecting retained profits accumulation. Common stockholders’ equity overall remained relatively stable around 50%-53%, with minor fluctuations indicating a balance between equity growth and liabilities changes.
Total Equity
Total equity mirrored common stockholders’ equity trends, generally fluctuating between 47% and 53%, with an overall slight increase leaning toward equity strengthening relative to liabilities over the period.
Summary
The data reveals a gradual deleveraging trend, characterized by a reduction in long-term debt and total liabilities as a share of total liabilities and equity. Concurrently, equity components, particularly retained earnings, increased notably, supporting stronger capitalization. Fluctuations in current liabilities point to active management of short-term obligations. The ongoing rise in deferred income taxes and steady reduction in employee benefit obligations suggest shifting liability profiles. Overall, the financial structure appears to be moving toward lower leverage and stronger equity bases throughout the reported quarters.