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)

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Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 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
Accounts payable 5.44 5.72 5.10 5.10 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
Short-term debt 0.37 0.87 0.84 0.83 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
Accrued income and other taxes 2.04 1.73 1.50 1.58 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
Employee benefit obligations 0.48 0.41 0.93 0.83 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
Other accruals 1.68 1.52 1.45 1.46 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
Current liabilities 10.02% 10.26% 9.82% 9.81% 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%
Long-term debt 18.37 18.14 18.39 18.34 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
Asset retirement obligations and accrued environmental costs 6.76 6.82 6.74 6.75 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
Deferred income taxes 9.97 10.09 10.04 9.89 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
Employee benefit obligations 0.75 0.77 0.79 0.78 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
Other liabilities and deferred credits 1.54 1.33 1.34 1.43 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
Noncurrent liabilities 37.39% 37.15% 37.30% 37.18% 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%
Total liabilities 47.41% 47.41% 47.12% 46.99% 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%
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 0.02 0.02 0.02 0.02 0.03
Capital in excess of par 62.64 63.36 63.74 63.44 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
Treasury stock, at cost -63.78 -62.93 -62.50 -61.39 -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
Accumulated other comprehensive loss -4.97 -4.91 -4.85 -4.96 -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
Retained earnings 58.68 57.05 56.47 55.90 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
Equity 52.59% 52.59% 52.88% 53.01% 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%
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: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).

The capital structure remains relatively stable over the analyzed period, with total liabilities and total equity each maintaining a share of approximately 47% to 53% of the total balance sheet. A consistent equilibrium is observed, suggesting a disciplined approach to maintaining a balanced leverage ratio.

Long-Term Debt and Solvency
A gradual deleveraging trend is evident in the long-term debt profile, which decreased from 23.11% in March 2021 to a range between 18.14% and 18.85% in the latter half of the period. This reduction in long-term debt indicates a strategic shift toward lowering long-term financial obligations.
Current Liability Dynamics
Current liabilities exhibited volatility, peaking at 14.76% in September 2022 before stabilizing around 10% by mid-2026. Within this category, accounts payable remained steady between 4% and 6%, while short-term debt remained minimal, generally staying below 1.5% of total liabilities and equity.
Noncurrent Liability Trends
Deferred income taxes show a consistent upward trajectory, rising from 5.95% in March 2021 to approximately 9.97% by June 2026, becoming a more significant component of the noncurrent liability structure. Asset retirement obligations and accrued environmental costs remained relatively stable, fluctuating between 6% and 7.6%.
Equity and Shareholder Returns
Equity components demonstrate significant activity, particularly regarding shareholder returns. Retained earnings showed a strong growth trend, increasing from 42.55% in March 2021 to a peak of 65.63% in September 2024, before adjusting to the 52% to 58% range in 2025 and 2026. Simultaneously, treasury stock became increasingly negative, reaching -71.55% in September 2024, which reflects an aggressive share repurchase program. A notable adjustment occurred in December 2024, where treasury stock returned to approximately -57.95%, coinciding with a correction in retained earnings.
Overall Capital Composition
The decrease in capital in excess of par from 72.02% to 62.64% further underscores the impact of treasury stock activity and the reallocation of equity. The total liability ratio remained resilient, ending the period at 47.41%, reflecting a stable risk profile despite fluctuations in individual liability and equity line items.

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