Analysis of Geographic Areas
ConocoPhillips operates in 12 regions: United States; Australia; Canada; China; Equatorial Guinea; Indonesia; Libya; Malaysia; Norway; Singapore; United Kingdom; and Other foreign countries.
Area Asset Turnover
ConocoPhillips, asset turnover by geographic area
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | 0.55 | 0.84 | 1.19 | 0.69 | 0.55 |
| Australia | 0.00 | 0.00 | 0.00 | 0.00 | 0.09 |
| Canada | 0.39 | 0.31 | 0.59 | 0.38 | 0.20 |
| China | 0.57 | 0.58 | 0.74 | 0.49 | 0.31 |
| Equatorial Guinea | 0.04 | — | — | — | — |
| Indonesia | — | — | — | 31.39 | 1.48 |
| Libya | 2.32 | 2.46 | 2.22 | 1.67 | 0.23 |
| Malaysia | 1.06 | 1.02 | 1.19 | 0.78 | 0.41 |
| Norway | 0.62 | 0.54 | 0.78 | 0.55 | 0.27 |
| Singapore | — | — | — | — | — |
| United Kingdom | 898.00 | 989.00 | 6,273.00 | 2,236.00 | 336.00 |
| Other foreign countries | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 |
Based on: 10-K (reporting date: 2024-12-31), 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).
The annual geographic area asset turnover ratios reveal several distinct trends over the period studied. The data reflects variability in asset efficiency across different countries, with notable fluctuations in specific regions.
- United States
- The asset turnover ratio starts at 0.55 in 2020, increases notably to 1.19 in 2022, and then decreases to 0.55 by 2024. This indicates a peak in asset utilization efficiency in 2022, followed by a decline to the initial level by 2024.
- Australia
- Only the 2020 figure of 0.09 is reported, with no subsequent data, suggesting limited or discontinued reporting from 2021 onwards.
- Canada
- There is a gradual increase from 0.20 in 2020 to 0.59 in 2022, then a drop to 0.31 in 2023, followed by a slight recovery to 0.39 in 2024. This pattern suggests fluctuating asset efficiency with a peak in 2022 and moderate declines thereafter.
- China
- The ratio improves steadily from 0.31 in 2020 to 0.74 in 2022, before a decrease to 0.57 by 2024. This indicates increasing efficiency through 2022 with a modest decline in subsequent years.
- Equatorial Guinea
- Values are reported only for 2024 with a low ratio of 0.04, indicating very limited asset turnover or possibly early-stage operations in this region.
- Indonesia
- There is an extraordinarily high ratio of 31.39 in 2021 following a 1.48 in 2020, with missing data thereafter. The spike suggests an anomaly or exceptional event impacting asset turnover in 2021.
- Libya
- The ratio shows a consistent upward trend from 0.23 in 2020 to a peak of 2.46 in 2023, with a slight reduction to 2.32 in 2024. This reflects steadily improving asset utilization efficiency in this region.
- Malaysia
- A steady increase is observed from 0.41 in 2020 to 1.19 in 2022, followed by a small decline and stabilization around 1.02-1.06 in 2023-2024, indicating growing efficiency that levels off.
- Norway
- The ratio improves from 0.27 in 2020 to 0.78 in 2022, then declines to 0.54 in 2023 with a slight rebound to 0.62 in 2024, suggesting variability but with a generally better asset turnover compared to the start of the period.
- Singapore
- No data is provided for any year, making analysis impossible.
- United Kingdom
- The ratios are exceptionally high in comparison to other regions, starting at 336 in 2020 and peaking at 6,273 in 2022. They then significantly decrease to 989 in 2023 and further to 898 in 2024. This suggests large fluctuations potentially due to accounting treatments, unique operational factors, or data irregularities.
- Other foreign countries
- The ratios remain close to zero throughout the period, indicating minimal asset turnover contribution from these regions.
In summary, several geographies demonstrate increasing asset turnover efficiency until approximately 2022, followed by declines or stabilization in subsequent years. Notably, the United Kingdom stands out with extraordinarily high and volatile ratios, possibly reflecting unique circumstances. Indonesia shows an anomalous spike in 2021, while most other regions exhibit moderate and more stable patterns. The limited or missing data for some countries restrict comprehensive analysis but overall depict a mixed picture of asset turnover dynamics across geographic areas.
Area Asset Turnover: United States
ConocoPhillips; United States; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 43,480) | 45,101) | 60,899) | 34,847) | 13,230) |
| Long-lived assets | 79,141) | 53,955) | 51,200) | 50,580) | 24,034) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.55 | 0.84 | 1.19 | 0.69 | 0.55 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 43,480 ÷ 79,141 = 0.55
The financial data for the United States geographic area reveals several notable trends over the five-year period ending in 2024.
- Sales and Other Operating Revenues
- Sales and other operating revenues exhibited significant volatility, with a marked peak in 2022 at 60,899 million US dollars. This represents a substantial increase from 13,230 million in 2020 and 34,847 million in 2021. However, revenues declined in the following years, dropping to 45,101 million in 2023 and further to 43,480 million in 2024, indicating a contraction after the peak year.
- Long-lived Assets
- The value of long-lived assets showed a consistent upward trend throughout the period, more than tripling from 24,034 million US dollars in 2020 to 79,141 million in 2024. This steady growth suggests ongoing investment or capital expenditure expansion in the geographic area, particularly between 2023 and 2024 when the increase was most pronounced.
- Area Asset Turnover Ratio
- The area asset turnover ratio, a measure of asset efficiency in generating revenue, fluctuated considerably over the period. It rose from 0.55 in 2020 to a peak of 1.19 in 2022, coinciding with the revenue peak, indicating efficient use of assets during that year. Afterward, the ratio declined to 0.84 in 2023 and returned to the initial level of 0.55 by 2024, reflecting a decrease in asset utilization efficiency despite the rising asset base.
In summary, the data indicates that while the company significantly increased its asset base in this geographic area, especially during the later years, revenue generation did not maintain a corresponding upward trajectory after 2022. The asset turnover ratio's decline in the final years suggests diminishing returns on asset investments or challenges in optimizing asset usage to sustain higher revenue levels.
Area Asset Turnover: Australia
ConocoPhillips; Australia; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | —) | —) | —) | —) | 605) |
| Long-lived assets | 4,987) | 5,426) | 6,158) | 5,579) | 6,676) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.00 | 0.00 | 0.00 | 0.00 | 0.09 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 0 ÷ 4,987 = 0.00
The geographic area data for Australia over the observed period reveals several noteworthy trends, particularly concerning asset values and turnover metrics.
- Long-lived Assets
- There is a clear declining trend in the value of long-lived assets from 2020 through 2024. The assets decreased from US$6,676 million in 2020 to US$4,987 million in 2024, marking a significant reduction over five years. This reduction indicates either asset disposals, depreciation, impairments, or a combination thereof. The decline suggests a contraction or reprioritization of investment within the Australia's asset base.
- Sales and Other Operating Revenues
- Data for sales and operating revenues are only available for the year ending 2020, showing revenues of US$605 million. The absence of subsequent data limits the ability to assess revenue trends or correlate them with asset movements.
- Area Asset Turnover
- The single data point of 0.09 in 2020 for area asset turnover offers limited insight due to the lack of comparative figures from other periods. However, this low ratio in 2020 may imply underutilization of the asset base in generating sales revenues.
In summary, Australia's long-lived asset base has contracted steadily over the years, while insufficient operational data prevents a comprehensive understanding of revenue performance or efficiency shifts. The downward asset trend may reflect strategic decisions affecting the asset portfolio. Further data would be required to fully evaluate operational effectiveness and financial performance in this geographic area.
Area Asset Turnover: Canada
ConocoPhillips; Canada; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 3,405) | 3,006) | 3,714) | 2,494) | 1,261) |
| Long-lived assets | 8,773) | 9,666) | 6,269) | 6,608) | 6,385) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.39 | 0.31 | 0.59 | 0.38 | 0.20 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 3,405 ÷ 8,773 = 0.39
- Sales and Other Operating Revenues
- Sales and other operating revenues in the Canada geographic area showed a significant upward trend from 2020 to 2022, increasing from 1,261 million US dollars to 3,714 million US dollars. There was a subsequent decline in 2023 to 3,006 million US dollars, followed by a recovery in 2024 up to 3,405 million US dollars. Overall, the revenues more than doubled over the five-year period, despite the dip in 2023.
- Long-lived Assets
- Long-lived assets experienced modest growth between 2020 and 2021, rising from 6,385 million US dollars to 6,608 million US dollars. In 2022, these assets decreased to 6,269 million US dollars but then increased sharply in 2023 to 9,666 million US dollars, indicating significant investment or asset revaluation. In 2024, long-lived assets declined somewhat to 8,773 million US dollars, but remained substantially higher than in the initial years.
- Area Asset Turnover
- The area asset turnover ratio, which measures how efficiently assets generate sales, showed a positive trend from 0.2 in 2020 to a peak of 0.59 in 2022. This suggests improving efficiency during this period. However, the ratio declined sharply to 0.31 in 2023 before partially recovering to 0.39 in 2024. These fluctuations indicate variability in operational efficiency relative to asset levels across the years.
Area Asset Turnover: China
ConocoPhillips; China; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 939) | 952) | 1,135) | 724) | 460) |
| Long-lived assets | 1,651) | 1,635) | 1,538) | 1,476) | 1,491) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.57 | 0.58 | 0.74 | 0.49 | 0.31 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 939 ÷ 1,651 = 0.57
The data reveals the performance and asset trends in the China geographic area over a five-year period from 2020 to 2024.
- Sales and Other Operating Revenues
- Sales showed a significant upward trend from 2020 to 2022, increasing from US$460 million to US$1,135 million. After peaking in 2022, revenues declined in the subsequent years, reducing to US$952 million in 2023 and further to US$939 million in 2024. Despite the decline after 2022, the revenue figures for 2023 and 2024 remain substantially higher than the 2020 base, indicating overall growth relative to the earlier period.
- Long-lived Assets
- The value of long-lived assets remained relatively stable with a gradual increase throughout the period. Starting at US$1,491 million in 2020, the asset base experienced minor fluctuations but consistently grew, reaching US$1,651 million by 2024. This represents moderate asset expansion, suggesting ongoing investment or capital maintenance within the region.
- Area Asset Turnover Ratio
- The asset turnover ratio exhibited considerable variability. Beginning at 0.31 in 2020, it rose sharply to 0.74 in 2022, indicating improved efficiency in generating sales from assets during the initial period. However, the ratio declined in 2023 and 2024 to values of 0.58 and 0.57 respectively. The decrease following 2022 suggests that while assets grew, the ability to generate revenues from those assets weakened somewhat but remained at a relatively higher level than in 2020 and 2021.
In summary, the China geographic area experienced notable growth in sales and operational revenues until 2022, followed by a moderate decline yet maintaining elevated levels compared to earlier years. Long-lived assets steadily increased, signaling consistent investment or asset value retention. The efficiency of asset utilization, reflected by the asset turnover ratio, improved markedly until 2022 but saw some reduction afterwards, suggesting a slight diminishment in asset productivity despite higher asset values.
Area Asset Turnover: Equatorial Guinea
ConocoPhillips; Equatorial Guinea; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 66) | —) | —) | —) | —) |
| Long-lived assets | 1,593) | —) | —) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.04 | — | — | — | — |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 66 ÷ 1,593 = 0.04
The available data for the geographic area of Equatorial Guinea indicates limited historical financial activity due to the absence of values prior to 2024. The presence of figures starting exclusively in 2024 suggests either the initiation of operations or the commencement of separate reporting for this area in that year.
- Sales and Other Operating Revenues
- The recorded sales and other operating revenues total US$66 million in 2024. As there are no values for preceding years, it is not possible to assess growth trends or fluctuations over time. The initial recorded revenue provides a basis for future comparative analysis.
- Long-lived Assets
- Long-lived assets reported US$1,593 million in 2024. Similar to revenue, the lack of data for prior years precludes trend analysis, but the substantial asset base relative to sales indicates a capital-intensive operation in this geographic segment.
- Area Asset Turnover
- The asset turnover ratio is reported at 0.04 in 2024. This low ratio reflects the company's relatively low revenue generation compared to its asset base in Equatorial Guinea. Typically, a low asset turnover ratio may imply underutilization of assets or a business model that requires significant capital investment with a longer-term revenue realization horizon.
In summary, the data portrays the initial recorded financial snapshot of Equatorial Guinea operations in 2024, showing significant investment in long-term assets with modest revenue generation to date. Without previous years' data, it is not possible to determine growth or efficiency trends, but the current asset turnover ratio suggests that the deployment of assets is in an early stage of producing returns.
Area Asset Turnover: Indonesia
ConocoPhillips; Indonesia; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | —) | —) | 159) | 879) | 689) |
| Long-lived assets | —) | —) | —) | 28) | 464) |
| Area Activity Ratio | |||||
| Area asset turnover1 | — | — | — | 31.39 | 1.48 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 0 ÷ 0 = —
The data for the Indonesia geographic area reveals notable fluctuations in key financial metrics over the observed years.
- Sales and Other Operating Revenues
- There is a significant increase in sales and other operating revenues from 689 million US dollars in 2020 to 879 million in 2021. However, this is followed by a sharp decline to 159 million in 2022. Data for 2023 and 2024 is not available, making it difficult to determine if the declining trend continued or reversed.
- Long-lived Assets
- Long-lived assets show a substantial decrease from 464 million US dollars in 2020 to 28 million in 2021. No data is available for subsequent years, which limits the analysis of whether this reduction was a one-time adjustment or part of a broader strategic shift.
- Area Asset Turnover
- The area asset turnover ratio exhibits an extraordinary rise from 1.48 in 2020 to 31.39 in 2021, indicating a significant increase in revenue generated per unit of asset. No further data is provided for later years, precluding evaluation of the sustainability of this improvement.
Overall, the data for 2021 compared to 2020 indicates considerable changes in both asset base and revenue generation efficiency. The sharp reduction in long-lived assets combined with a substantial increase in asset turnover suggests possible asset disposals or impairments paired with intensified operational activity or revenue recognition in 2021. The decrease in sales in 2022 introduces uncertainty regarding the operational stability or market conditions post-2021. Absence of data for later years limits the ability to draw conclusions about longer-term trends.
Area Asset Turnover: Libya
ConocoPhillips; Libya; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 1,703) | 1,730) | 1,582) | 1,102) | 155) |
| Long-lived assets | 733) | 703) | 714) | 659) | 670) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 2.32 | 2.46 | 2.22 | 1.67 | 0.23 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 1,703 ÷ 733 = 2.32
The reviewed data indicates significant fluctuations and notable trends in the financial metrics for the Libya geographic area over the five-year period ending December 31, 2024.
- Sales and Other Operating Revenues
- The sales and other operating revenues exhibited a pronounced increase from 2020 through 2023, rising sharply from 155 million US dollars in 2020 to a peak of 1,730 million US dollars in 2023. This represents a substantial growth indicating expansion or increased operational activity in the region. However, in 2024, there was a slight decline to 1,703 million US dollars, suggesting a modest contraction or stabilization after the previous year’s peak.
- Long-lived Assets
- The value of long-lived assets showed relative stability over the period. Beginning at 670 million US dollars in 2020, it experienced a minor decrease in 2021 to 659 million US dollars, followed by incremental growth and slight fluctuations until reaching 733 million US dollars in 2024. This trend suggests ongoing investment in or maintenance of capital assets, with no radical changes in asset base.
- Area Asset Turnover
- The area asset turnover ratio, which reflects efficiency in using fixed assets to generate revenue, demonstrated a marked improvement from 0.23 in 2020 to a peak of 2.46 in 2023. This substantial increase indicates enhanced operational efficiency and better utilization of long-lived assets over the period. A minor decline to 2.32 in 2024 still reflects a strong asset turnover ratio relative to the starting point.
In summary, the Libya geographic area experienced robust revenue growth accompanied by stable asset levels and significantly improved asset utilization throughout the period. The slight downward adjustments in revenues and asset turnover in 2024 may suggest early signals of market or operational adjustments requiring monitoring.
Area Asset Turnover: Malaysia
ConocoPhillips; Malaysia; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 908) | 961) | 1,312) | 975) | 610) |
| Long-lived assets | 856) | 939) | 1,107) | 1,252) | 1,501) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.06 | 1.02 | 1.19 | 0.78 | 0.41 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 908 ÷ 856 = 1.06
- Sales and Other Operating Revenues
- Sales and other operating revenues showed a significant increase from 610 million US dollars in 2020 to a peak of 1312 million US dollars in 2022. However, there was a decline observed in the following years, dropping to 961 million in 2023 and further decreasing to 908 million in 2024. This indicates a period of growth followed by a contraction in revenue within the Malaysian geographic area.
- Long-lived Assets
- The value of long-lived assets displayed a consistent downward trend over the five-year period. Starting at 1501 million US dollars in 2020, the assets decreased steadily each year to reach 856 million US dollars by 2024. This reduction could imply asset disposals, impairments, or no significant reinvestment in the asset base within this region.
- Area Asset Turnover Ratio
- The area asset turnover ratio, which measures the efficiency in using assets to generate sales, showed improvement from 0.41 in 2020 to a peak of 1.19 in 2022. Despite a slight decline to 1.02 in 2023, the ratio rebounded modestly to 1.06 in 2024. Overall, this trend suggests enhanced asset utilization efficiency, particularly notable through the initial years, correlating with the period of rising revenues.
Area Asset Turnover: Norway
ConocoPhillips; Norway; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 2,405) | 2,408) | 3,415) | 2,563) | 1,426) |
| Long-lived assets | 3,850) | 4,489) | 4,369) | 4,681) | 5,294) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.62 | 0.54 | 0.78 | 0.55 | 0.27 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 2,405 ÷ 3,850 = 0.62
The data indicates several key trends in the Norway geographic area financial performance over the five-year period ending December 31, 2024.
- Sales and other operating revenues
- Sales and other operating revenues in this region experienced a significant increase from 2020 to 2022, rising from 1,426 million US dollars to a peak of 3,415 million US dollars. However, this upward momentum was not sustained, as revenues declined sharply to 2,408 million US dollars in 2023 and remained relatively stable at 2,405 million US dollars in 2024.
- Long-lived assets
- There was a clear downward trend in the value of long-lived assets throughout the period. The assets decreased from 5,294 million US dollars in 2020 to 3,850 million US dollars in 2024. Notably, asset values saw a consistent decline each year except for a slight increase from 4,369 million in 2022 to 4,489 million in 2023, before falling again in 2024.
- Area asset turnover
- The asset turnover ratio shows how efficiently the assets were used to generate sales. The ratio improved substantially from 0.27 in 2020 to 0.78 in 2022, reflecting enhanced asset utilization during the period of revenue growth. However, this efficiency decreased to 0.54 in 2023, then rebounded to 0.62 in 2024, indicating some recovery in asset utilization despite reduced asset base and revenues compared to the 2022 peak.
Overall, the data suggests that after a period of strong growth in revenues accompanied by improved asset use efficiency, both revenues and asset efficiency faced a setback post-2022. The decline in long-lived assets over the entire period may reflect divestitures, asset impairments, or depreciation outpacing capital investments in this geographic area.
Area Asset Turnover: Singapore
ConocoPhillips; Singapore; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 37) | —) | —) | —) | —) |
| Long-lived assets | —) | —) | —) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | — | — | — | — | — |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 37 ÷ 0 = —
The available data for the Singapore geographic area reveals limited information, predominantly with respect to sales and other operating revenues, while data for long-lived assets and area asset turnover is absent for all reported periods.
- Sales and Other Operating Revenues
- The recorded sales for the year ending December 31, 2024, show a value of 37 million US dollars. There are no recorded sales figures for the prior years from 2020 through 2023, implying either the absence of operations or unreported data in those years. This singular data point in 2024 may indicate the commencement or resumption of revenue-generating activities in this region during that year.
- Long-Lived Assets
- No data is reported for long-lived assets across all years, from 2020 to 2024. This absence makes it impossible to assess any capital investment or asset base related to this geographic area during the period under consideration.
- Area Asset Turnover
- There are no recorded values for area asset turnover ratios for any of the years. Consequently, no analysis can be conducted on efficiency or effectiveness in utilizing assets to generate sales in the Singapore geographic area.
In summary, the dataset’s constraints limit the ability to identify meaningful trends or evaluate operational or investment performance in the Singapore region over the five-year span. The sole available figure for sales in 2024 suggests potential initiation or recovery of business activities but lacks context for comparative or trend analysis.
Area Asset Turnover: United Kingdom
ConocoPhillips; United Kingdom; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 1,796) | 1,978) | 6,273) | 2,236) | 336) |
| Long-lived assets | 2) | 2) | 1) | 1) | 1) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 898.00 | 989.00 | 6,273.00 | 2,236.00 | 336.00 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 1,796 ÷ 2 = 898.00
- Sales and Other Operating Revenues
- There was a sharp increase from 336 million US dollars in 2020 to 2236 million US dollars in 2021, followed by a substantial rise to 6273 million US dollars in 2022. After this peak, revenues declined significantly to 1978 million US dollars in 2023 and further decreased to 1796 million US dollars in 2024. Overall, the trend shows a major growth phase until 2022, succeeded by a marked contraction through 2024.
- Long-lived Assets
- The recorded value of long-lived assets remained very stable at 1 million US dollars for the years 2020 through 2022. In 2023, there was a slight increase to 2 million US dollars, which remained unchanged into 2024. This indicates minimal investment or changes in long-lived assets over the five-year period.
- Area Asset Turnover
- Area asset turnover followed a pattern similar to revenues. It surged dramatically from 336 in 2020 to 2236 in 2021, then escalated further to 6273 in 2022. However, in 2023, it dropped significantly to 989 and then declined to 898 in 2024. This mirrors the trend in sales, suggesting that asset utilization efficiency increased rapidly until 2022 but then deteriorated substantially in the following two years.
Area Asset Turnover: Other foreign countries
ConocoPhillips; Other foreign countries; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 6) | 5) | 5) | 8) | 12) |
| Long-lived assets | 1,380) | 1,134) | 1,003) | 748) | 1,087) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 6 ÷ 1,380 = 0.00
- Sales and Other Operating Revenues
- There is a clear declining trend in sales and other operating revenues from 2020 through 2022, dropping from 12 million US dollars to 5 million US dollars. This downward movement stabilizes in 2023 with revenues remaining at 5 million US dollars, followed by a slight increase to 6 million US dollars in 2024. Overall, the revenues decreased significantly in the initial years and then showed minimal recovery towards the end of the period analyzed.
- Long-Lived Assets
- The value of long-lived assets exhibits a fluctuating but generally upward trend over the period. Initially, the assets decreased from 1087 million US dollars in 2020 to 748 million US dollars in 2021. However, from 2021 onwards, there is a consistent increase reaching 1003 million US dollars in 2022, 1134 million US dollars in 2023, and 1380 million US dollars in 2024. This indicates an ongoing investment or capital expenditure increase in long-lived assets after the initial decline.
- Area Asset Turnover Ratio
- The area asset turnover ratio remains very low throughout the period, starting at 0.01 in 2020 and 2021, then dropping to 0 in 2022 and remaining at 0 through 2024. This suggests that the efficiency in generating sales from assets in this geographic area is minimal to nonexistent during the latter years, despite the increase in long-lived asset values.
Sales and other operating revenues
ConocoPhillips, sales and other operating revenues by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | 43,480) | 45,101) | 60,899) | 34,847) | 13,230) |
| Australia | —) | —) | —) | —) | 605) |
| Canada | 3,405) | 3,006) | 3,714) | 2,494) | 1,261) |
| China | 939) | 952) | 1,135) | 724) | 460) |
| Equatorial Guinea | 66) | —) | —) | —) | —) |
| Indonesia | —) | —) | 159) | 879) | 689) |
| Libya | 1,703) | 1,730) | 1,582) | 1,102) | 155) |
| Malaysia | 908) | 961) | 1,312) | 975) | 610) |
| Norway | 2,405) | 2,408) | 3,415) | 2,563) | 1,426) |
| Singapore | 37) | —) | —) | —) | —) |
| United Kingdom | 1,796) | 1,978) | 6,273) | 2,236) | 336) |
| Other foreign countries | 6) | 5) | 5) | 8) | 12) |
| Worldwide consolidated | 54,745) | 56,141) | 78,494) | 45,828) | 18,784) |
Based on: 10-K (reporting date: 2024-12-31), 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).
- United States Sales
- Sales in the United States exhibited strong growth from 13,230 million US dollars in 2020, peaking at 60,899 million in 2022. However, there was a subsequent decline to 45,101 million in 2023 and a slight further decrease to 43,480 million in 2024, indicating a downward adjustment after the initial surge.
- Australia Sales
- Sales data for Australia were reported only in 2020, with 605 million US dollars, and no further data was available for subsequent years.
- Canada Sales
- Canada’s sales showed a consistent upward trajectory from 1,261 million in 2020 to 3,714 million in 2022, followed by a slight decline to 3,006 million in 2023 but an increase again to 3,405 million in 2024, suggesting relatively stable but fluctuating performance.
- China Sales
- Sales in China steadily increased from 460 million in 2020 to 1,135 million in 2022, then experienced a modest decrease to 952 million in 2023 and stabilized at 939 million in 2024.
- Equatorial Guinea Sales
- Sales data for Equatorial Guinea was absent until 2024, when a value of 66 million US dollars was recorded, indicating recent or new operations contributing to revenues.
- Indonesia Sales
- Indonesia’s sales rose from 689 million in 2020 to 879 million in 2021, but dropped sharply to 159 million in 2022, with no data reported thereafter, suggesting operational changes or reduced activity.
- Libya Sales
- Sales in Libya showed strong growth from 155 million in 2020 to 1,730 million in 2023, followed by a small decline to 1,703 million in 2024, reflecting sustained development after rapid expansion.
- Malaysia Sales
- Malaysia displayed an increasing trend from 610 million in 2020 to 1,312 million in 2022, then a decline to 961 million in 2023 and a slight reduction to 908 million in 2024, indicating fluctuating demand or supply constraints.
- Norway Sales
- Norway experienced growth from 1,426 million in 2020 to 3,415 million in 2022 followed by a decline to around 2,408 million in 2023 and remaining stable at 2,405 million in 2024, suggesting a peak period followed by a stabilization phase.
- Singapore Sales
- Only recorded sales in 2024 amounting to 37 million, indicating new or limited operations in this region.
- United Kingdom Sales
- Sales in the United Kingdom showed a significant increase from 336 million in 2020 to 6,273 million in 2022, followed by a sharp decline to 1,978 million in 2023 and 1,796 million in 2024, which may imply market volatility or divestitures.
- Other Foreign Countries
- Sales were minimal and relatively stable, ranging from 12 million in 2020 to around 5-6 million in recent years, indicating minor contributions to total revenues.
- Worldwide Consolidated Sales
- Consolidated worldwide sales increased markedly from 18,784 million in 2020 to a peak of 78,494 million in 2022, then decreased substantially to 56,141 million in 2023 and slightly declined further to 54,745 million in 2024, reflecting the aggregate impact of regional trends and suggesting a peak in global sales performance in 2022 followed by market adjustments.
Long-lived assets
ConocoPhillips, long-lived assets by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | 79,141) | 53,955) | 51,200) | 50,580) | 24,034) |
| Australia | 4,987) | 5,426) | 6,158) | 5,579) | 6,676) |
| Canada | 8,773) | 9,666) | 6,269) | 6,608) | 6,385) |
| China | 1,651) | 1,635) | 1,538) | 1,476) | 1,491) |
| Equatorial Guinea | 1,593) | —) | —) | —) | —) |
| Indonesia | —) | —) | —) | 28) | 464) |
| Libya | 733) | 703) | 714) | 659) | 670) |
| Malaysia | 856) | 939) | 1,107) | 1,252) | 1,501) |
| Norway | 3,850) | 4,489) | 4,369) | 4,681) | 5,294) |
| Singapore | —) | —) | —) | —) | —) |
| United Kingdom | 2) | 2) | 1) | 1) | 1) |
| Other foreign countries | 1,380) | 1,134) | 1,003) | 748) | 1,087) |
| Worldwide consolidated | 102,966) | 77,949) | 72,359) | 71,612) | 47,603) |
Based on: 10-K (reporting date: 2024-12-31), 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).
The data reveals notable trends and shifts in the geographic distribution of long-lived assets over the five-year period.
- United States
- There is a strong upward trajectory in asset values, increasing from approximately 24,034 million US dollars in 2020 to 79,141 million US dollars in 2024. This represents more than a threefold increase over the period, indicating significant investment or asset growth within this region.
- Australia
- Assets show a declining trend, starting at 6,676 million US dollars in 2020 and decreasing steadily to 4,987 million US dollars by 2024. This reflects a reduction of about 25%, suggesting possible divestitures or depreciation of assets.
- Canada
- A fluctuating pattern is observed with asset values ranging from 6,385 million US dollars in 2020 to a peak of 9,666 million US dollars in 2023, followed by a slight decline to 8,773 million US dollars in 2024. Overall, the trend is upward, reflecting growth in assets in this region.
- China
- Asset values remain relatively stable with a slight increase from 1,491 million US dollars in 2020 to 1,651 million US dollars in 2024, indicating minor growth.
- Equatorial Guinea
- Data is unavailable until 2024, where assets are recorded at 1,593 million US dollars. This suggests either acquisition or newly reported assets in this region for that year.
- Indonesia
- The assets drastically drop from 464 million US dollars in 2020 to 28 million US dollars in 2021, with no data subsequently available. This signals possible asset disposal or reclassification.
- Libya
- Asset values remain relatively stable with minor fluctuations, ranging from 670 million US dollars in 2020 to 733 million US dollars in 2024.
- Malaysia
- A declining trend is present, with assets dropping from 1,501 million US dollars in 2020 to 856 million US dollars in 2024, reflecting a reduction of roughly 43% over the period.
- Norway
- Assets steadily decline from 5,294 million US dollars in 2020 to 3,850 million US dollars in 2024, indicating consistent reductions.
- United Kingdom
- The asset values remain minimal and stable, fluctuating slightly between 1 million and 2 million US dollars, showing no significant change.
- Other foreign countries
- These assets demonstrate an overall upward trend, increasing from 1,087 million US dollars in 2020 to 1,380 million US dollars in 2024, indicating expansion or accumulation in various other locations.
- Worldwide consolidated
- Total long-lived assets across all geographic regions show consistent growth, rising from 47,603 million US dollars in 2020 to 102,966 million US dollars in 2024, more than doubling over the period. This growth is predominantly driven by the substantial increase in assets within the United States.