Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

ConocoPhillips, consolidated cash flow statement (quarterly data)

US$ in millions

3 months ended:	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	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Net income (loss)	1,726)	1,971)	2,849)	2,306)	2,059)	2,329)	2,551)	3,007)	2,798)	2,232)	2,920)	3,249)	4,527)	5,145)	5,759)	2,627)	2,379)	2,091)	982)	(772)	(450)	278)	(1,711)
Depreciation, depletion and amortization	2,917)	2,838)	2,746)	2,664)	2,390)	2,334)	2,211)	2,223)	2,095)	2,010)	1,942)	1,999)	1,872)	1,810)	1,823)	1,783)	1,672)	1,867)	1,886)	1,541)	1,411)	1,158)	1,411)
Impairments	10)	1)	1)	46)	—)	34)	—)	2)	11)	—)	1)	(18)	2)	2)	2)	764)	(89)	2)	(3)	292)	2)	(2)	521)
Dry hole costs and leasehold impairments	20)	24)	61)	(2)	—)	29)	19)	11)	49)	34)	68)	204)	32)	97)	7)	37)	—)	1)	6)	969)	44)	3)	67)
Accretion on discounted liabilities	94)	95)	94)	85)	80)	80)	80)	79)	68)	68)	68)	68)	60)	61)	61)	56)	61)	63)	62)	57)	62)	66)	67)
Deferred taxes	354)	149)	(71)	118)	38)	124)	87)	392)	264)	165)	324)	492)	726)	495)	373)	451)	328)	364)	203)	(406)	(108)	(93)	(227)
Distributions more (less) than income from equity affiliates	389)	(93)	(19)	19)	181)	56)	308)	44)	268)	161)	491)	373)	(22)	371)	220)	188)	(59)	236)	81)	195)	46)	373)	31)
(Gain) loss on dispositions	(3)	(317)	(79)	35)	2)	5)	(93)	(28)	(108)	1)	(93)	(38)	40)	(262)	(817)	(192)	(2)	(59)	(233)	2)	3)	(596)	42)
(Gain) loss on investment in Cenovus Energy	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(251)	(297)	(17)	(418)	(308)	(447)	162)	(551)	1,691)
Other	(141)	53)	(115)	148)	(28)	76)	(66)	(236)	23)	28)	(35)	124)	(1)	115)	(152)	78)	(178)	(107)	(581)	231)	56)	40)	(284)
(Increase) decrease in accounts and notes receivable	(52)	693)	280)	(918)	508)	224)	(76)	186)	(1,099)	545)	1,701)	354)	544)	(326)	(1,535)	(881)	(825)	(9)	(785)	(611)	(614)	705)	1,041)
(Increase) decrease in inventories	133)	(58)	(26)	32)	(43)	(2)	(55)	11)	(91)	22)	(45)	26)	(11)	(80)	27)	(147)	76)	(38)	(51)	49)	(47)	(304)	277)
(Increase) decrease in prepaid expenses and other current assets	112)	(95)	(134)	132)	94)	(221)	74)	(149)	191)	40)	255)	296)	(186)	(341)	58)	151)	(412)	(345)	(43)	125)	100)	(70)	(79)
Increase (decrease) in accounts payable	(184)	(545)	518)	(426)	66)	(98)	(85)	(281)	777)	(348)	(1,266)	(197)	463)	839)	(204)	717)	359)	(101)	424)	334)	171)	(457)	(297)
Increase (decrease) in taxes and other accruals	503)	(1,231)	10)	218)	416)	(51)	30)	2)	199)	(1,104)	(928)	(340)	694)	(12)	(303)	533)	1,504)	704)	440)	113)	30)	(393)	(445)
Working capital adjustments	512)	(1,236)	648)	(962)	1,041)	(148)	(112)	(231)	(23)	(845)	(283)	139)	1,504)	80)	(1,957)	373)	702)	211)	(15)	10)	(360)	(519)	497)
Adjustments to reconcile net income (loss) to net cash provided by operating activities	4,152)	1,514)	3,266)	2,151)	3,704)	2,590)	2,434)	2,256)	2,647)	1,622)	2,483)	3,343)	4,213)	2,769)	(691)	3,241)	2,418)	2,160)	1,098)	2,444)	1,318)	(121)	3,816)
Net cash provided by operating activities	5,878)	3,485)	6,115)	4,457)	5,763)	4,919)	4,985)	5,263)	5,445)	3,854)	5,403)	6,592)	8,740)	7,914)	5,068)	5,868)	4,797)	4,251)	2,080)	1,672)	868)	157)	2,105)
Capital expenditures and investments	(2,866)	(3,286)	(3,378)	(3,317)	(2,916)	(2,969)	(2,916)	(2,883)	(2,545)	(2,923)	(2,897)	(2,533)	(2,497)	(1,968)	(3,161)	(1,557)	(1,302)	(1,265)	(1,200)	(1,058)	(1,132)	(876)	(1,649)
Working capital changes associated with investing activities	(63)	(276)	827)	107)	22)	4)	169)	205)	(261)	(122)	208)	(22)	46)	133)	363)	55)	77)	(59)	61)	74)	22)	(332)	81)
Acquisition of businesses, net of cash acquired	—)	—)	—)	(73)	—)	—)	49)	(2,724)	—)	—)	—)	(97)	—)	—)	37)	(8,672)	—)	—)	382)	—)	—)	—)	—)
Proceeds from asset dispositions	291)	706)	635)	44)	39)	5)	173)	19)	187)	238)	188)	117)	403)	619)	2,332)	861)	632)	177)	(17)	5)	(1)	764)	549)
Net (purchases) sales of investments	(548)	392)	(400)	1,014)	195)	(1,199)	405)	(487)	311)	484)	1,065)	(394)	(1,131)	(841)	(263)	245)	1,544)	1,801)	(499)	431)	(59)	(95)	(935)
Collection of advances/loans, related parties	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	59)	—)	55)	—)	53)	—)	52)	—)	50)	—)	66)
Other	7)	3)	(30)	25)	2)	8)	(21)	18)	(76)	7)	(12)	(5)	15)	(34)	26)	473)	(472)	80)	6)	5)	4)	9)	(44)
Net cash (used in) provided by investing activities	(3,179)	(2,461)	(2,346)	(2,200)	(2,658)	(4,151)	(2,141)	(5,852)	(2,384)	(2,316)	(1,448)	(2,934)	(3,105)	(2,091)	(611)	(8,595)	532)	734)	(1,215)	(543)	(1,116)	(530)	(1,932)
Issuance of debt	—)	—)	—)	5,591)	—)	—)	—)	—)	2,694)	1,093)	—)	—)	—)	—)	2,897)	—)	—)	—)	—)	—)	300)	—)	—)
Repayment of debt	(45)	(259)	(547)	(4,374)	(44)	(58)	(505)	(136)	(43)	(1,157)	(43)	(393)	(45)	(1,865)	(3,964)	(142)	(319)	(18)	(26)	(20)	(20)	(190)	(24)
Issuance of company common stock	(10)	(3)	(52)	(12)	(9)	4)	(61)	5)	38)	2)	(97)	17)	(5)	79)	271)	118)	52)	3)	(28)	(3)	(4)	—)	2)
Repurchase of company common stock	(1,274)	(1,222)	(1,500)	(1,950)	(1,167)	(1,021)	(1,325)	(1,100)	(1,300)	(1,300)	(1,700)	(2,746)	(2,799)	(2,300)	(1,425)	(1,399)	(1,243)	(606)	(375)	(166)	—)	—)	(726)
Dividends paid	(975)	(984)	(998)	(897)	(910)	(915)	(924)	(1,408)	(1,337)	(1,350)	(1,488)	(2,390)	(1,484)	(988)	(864)	(609)	(579)	(583)	(588)	(464)	(454)	(455)	(458)
Other	(20)	(15)	(40)	(127)	(68)	(53)	(10)	—)	(23)	(13)	2)	4)	3)	(4)	(52)	1)	3)	1)	2)	1)	1)	(4)	(24)
Net cash used in financing activities	(2,324)	(2,483)	(3,137)	(1,769)	(2,198)	(2,043)	(2,825)	(2,639)	29)	(2,725)	(3,326)	(5,508)	(4,330)	(5,078)	(3,137)	(2,031)	(2,086)	(1,203)	(1,015)	(652)	(177)	(649)	(1,230)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2)	65)	83)	(105)	41)	4)	(73)	51)	12)	(58)	(104)	228)	(215)	(258)	21)	(31)	(12)	11)	(2)	42)	31)	29)	(122)
Net change in cash, cash equivalents and restricted cash	373)	(1,394)	715)	383)	948)	(1,271)	(54)	(3,177)	3,102)	(1,245)	525)	(1,622)	1,090)	487)	1,341)	(4,789)	3,231)	3,793)	(152)	519)	(394)	(993)	(1,179)

Net Income Trends: The net income exhibited significant volatility, starting with a substantial loss in early 2020, followed by a steady recovery and marked growth through 2021 and early 2022. Thereafter, net income declined gradually but remained positive through 2023 and into 2024, showing cyclical fluctuations with some upward momentum toward early 2025.
Depreciation, Depletion, and Amortization: This expense steadily increased from 2020 through 2025, reflecting ongoing asset utilization or possibly expansion of asset base, with minor short-term fluctuations.
Impairments and Dry Hole Costs: Impairments showed sporadic values with occasional sizeable entries, especially notable in late 2020 and 2021, indicating occasional asset write-downs. Dry hole costs spiked notably at the end of 2020 and again in parts of 2022 and 2023, suggesting heightened exploration-related costs during these periods.
Operating Cash Flow: Net cash from operating activities demonstrated a strong increasing trend from 2020 through 2022, peaking in the first half of 2022, followed by a decline through 2023 before stabilizing with moderate increases toward 2025. Adjustments for reconciling net income to operating cash flow mirrored these fluctuations, confirming strong operating cash generation post-2020 losses.
Capital Expenditures and Investments: Capital expenditures remained consistently high and generally increased over time, peaking around 2024. This suggests ongoing investment into operational assets or growth projects. Some quarters show reductions or stabilization in these investments, possibly reflecting adjustments in strategic priorities or response to market conditions.
Investing Activities: Net cash used in investing activities was negative for most periods, reflecting continuous outflows likely driven by capital expenditures and acquisitions. Some quarters showed positive inflows mainly due to asset dispositions and sales of investments, but these were insufficient to offset substantial investing cash outflows.
Financing Activities: Financing cash flows were predominantly negative, driven by consistent repayment of debt, significant repurchase of common stock, and steady dividend payments. Occasional increases in debt issuance countered some repayments, but overall the trend indicated a net reduction in external financing.
Working Capital Changes: Working capital adjustments fluctuated widely, reflecting variable movements in accounts receivable, inventories, prepaid expenses, accounts payable, and accruals. Notably, large increases and decreases in receivables and payables suggest substantial timing differences in cash collections and payments.
Balance Sheet-Related Cash Flow Items: Deferred taxes showed an overall increasing trend with fluctuations, indicating evolving tax obligations or timing differences. Accretion on discounted liabilities gradually increased, consistent with maturing obligations or rising discount rates.
Other Observations: Occasional large asset acquisitions and dispositions caused variability in investing cash flows, such as a very significant acquisition-related outflow in late 2021. Exchange rate effects on cash were minor but occasionally caused moderate positive or negative impacts.
Summary of Financial Performance: The data reveals recovery from early 2020 losses to robust earnings and cash flow generation by mid-2022, coupled with aggressive capital investments. The company maintained strong operating cash flows, funded substantial capital expenditures, managed working capital actively, and returned significant capital to shareholders through dividends and share repurchases. Debt management appeared active, with repayments exceeding new issuances in most periods, contributing to a conservative financial posture. The variability in impairments and exploration-related costs reflects an operational environment subject to occasional asset write-downs and exploration risk.

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ConocoPhillips (NYSE:COP)

Cash Flow Statement Quarterly Data

Cash Flow Statement
Quarterly Data