Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

ConocoPhillips, adjusted current assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	14,330)	18,749)	16,050)	12,066)	16,913)
Adjustments
Add: Allowance	3)	2)	2)	4)	13)
Add: LIFO reserve¹	91)	149)	251)	87)	155)
After Adjustment
Adjusted current assets	14,424)	18,900)	16,303)	12,157)	17,081)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ LIFO reserve. See details »

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ConocoPhillips, adjusted total assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	95,924)	93,829)	90,661)	62,618)	70,514)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowance	3)	2)	2)	4)	13)
Add: LIFO reserve²	91)	149)	251)	87)	155)
Less: Deferred tax assets³	255)	241)	340)	363)	184)
After Adjustment
Adjusted total assets	95,763)	93,739)	90,574)	62,346)	70,498)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² LIFO reserve. See details »

³ Deferred tax assets. See details »

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ConocoPhillips, adjusted total liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	46,645)	45,826)	45,255)	32,769)	35,464)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax liabilities²	8,813)	7,726)	6,179)	3,747)	4,634)
Less: Restructuring accruals	—)	—)	—)	—)	23)
After Adjustment
Adjusted total liabilities	37,832)	38,100)	39,076)	29,022)	30,807)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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ConocoPhillips, adjusted common stockholders’ equity

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Common stockholders’ equity	49,279)	48,003)	45,406)	29,849)	34,981)
Adjustments
Less: Net deferred tax assets (liabilities)¹	(8,558)	(7,485)	(5,839)	(3,384)	(4,450)
Add: Allowance	3)	2)	2)	4)	13)
Add: LIFO reserve²	91)	149)	251)	87)	155)
Add: Restructuring accruals	—)	—)	—)	—)	23)
Add: Noncontrolling interests	—)	—)	—)	—)	69)
After Adjustment
Adjusted total equity	57,931)	55,639)	51,498)	33,324)	39,691)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Net deferred tax assets (liabilities). See details »

² LIFO reserve. See details »

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ConocoPhillips, adjusted capitalization table

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Short-term debt	1,074)	417)	1,200)	619)	105)
Long-term debt	17,863)	16,226)	18,734)	14,750)	14,790)
Total reported debt	18,937)	16,643)	19,934)	15,369)	14,895)
Common stockholders’ equity	49,279)	48,003)	45,406)	29,849)	34,981)
Total reported capital	68,216)	64,646)	65,340)	45,218)	49,876)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Current lease liabilities, operating leases (included in Other accruals)²	193)	155)	188)	226)	347)
Add: Long-term lease liabilities, operating leases (included in Other liabilities and deferred credits)³	504)	390)	479)	559)	585)
Adjusted total debt	19,634)	17,188)	20,601)	16,154)	15,827)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	(8,558)	(7,485)	(5,839)	(3,384)	(4,450)
Add: Allowance	3)	2)	2)	4)	13)
Add: LIFO reserve⁵	91)	149)	251)	87)	155)
Add: Restructuring accruals	—)	—)	—)	—)	23)
Add: Noncontrolling interests	—)	—)	—)	—)	69)
Adjusted total equity	57,931)	55,639)	51,498)	33,324)	39,691)
After Adjustment
Adjusted total capital	77,565)	72,827)	72,099)	49,478)	55,518)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current lease liabilities, operating leases (included in Other accruals). See details »

³ Long-term lease liabilities, operating leases (included in Other liabilities and deferred credits). See details »

⁴ Net deferred tax assets (liabilities). See details »

⁵ LIFO reserve. See details »

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ConocoPhillips, adjusted net income (loss) attributable to ConocoPhillips

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income (loss) attributable to ConocoPhillips	10,957)	18,680)	8,079)	(2,701)	7,189)
Adjustments
Add: Deferred income tax expense (benefit)¹	1,144)	2,086)	1,346)	(834)	(444)
Add: Increase (decrease) in allowance	1)	—)	(2)	(9)	(12)
Add: Increase (decrease) in LIFO reserve²	(58)	(102)	164)	(68)	80)
Add: Increase (decrease) in restructuring accruals	—)	—)	—)	(23)	(25)
Add: Other comprehensive income (loss), net of tax	327)	(1,050)	268)	139)	746)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	—)	—)	—)	46)	68)
After Adjustment
Adjusted net income (loss)	12,371)	19,614)	9,855)	(3,450)	7,602)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Deferred income tax expense (benefit). See details »

² Increase (decrease) in LIFO reserve. See details »

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ConocoPhillips (NYSE:COP)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income