ConocoPhillips (NYSE:COP)

Net income (loss) attributable to ConocoPhillips

The net income attributable to ConocoPhillips shows a significant recovery and positive trend following an initial loss in 2020. Specifically, there was a net loss of 719 million US dollars in 2020, which reversed to a profit of 1,386 million US dollars in 2021. This upward trajectory continued through 2022, reaching a peak net income of 2,352 million US dollars. Subsequently, the net income declined in the following years, recording 1,778 million in 2023 and 1,326 million in 2024, though still maintaining profitability.

Sales and other operating revenues

Sales and other operating revenues have experienced strong growth from 2020 to 2022, increasing from 3,408 million US dollars in 2020 to 7,905 million US dollars in 2022. This upward trend indicates an expansion in operational scale or market activity. However, in 2023, revenues declined to 7,098 million US dollars and further decreased to 6,553 million US dollars in 2024, suggesting a contraction or reduced market demand in the latter years, though still well above the 2020 levels.

Segment profit margin

The segment profit margin underwent a dramatic turnaround starting with a negative margin of -21.1% in 2020, indicating operational losses. This was followed by a strong recovery to 25.29% in 2021 and a further increase to a high of 29.75% in 2022, reflecting improved efficiency or favorable market conditions. The profit margin then declined over the next two years, reaching 25.05% in 2023 and 20.24% in 2024, signaling some pressure on profitability but remaining in a positive and relatively healthy range.

Summary

Overall, the reported segment data highlights a notable recovery from loss to profit starting in 2021, accompanied by strong growth in sales and significant improvements in profit margin through 2022. Despite a subsequent decline in both net income and revenues in 2023 and 2024, profitability remained positive, suggesting resilience in operational performance. The downward trend in the later years could warrant further analysis into market conditions, cost structures, or other influencing factors.

Net income (loss) attributable to ConocoPhillips

The net income exhibits a significant recovery from a loss in 2020 to positive and increasing figures in the subsequent years until 2022, followed by a decline in 2023 and 2024. Specifically, there was a loss of approximately $1.1 billion in 2020, which turned into a profit of around $4.9 billion in 2021 and further increased dramatically to over $11 billion in 2022. However, this peak was followed by a decrease to about $6.5 billion in 2023, and a further decline to approximately $5.2 billion in 2024, indicating some volatility and a downward trend after the high point in 2022.

Sales and other operating revenues

Sales and operating revenues have shown a substantial upward trend from 2020 through 2022, increasing nearly fivefold from about $9.9 billion in 2020 to over $52.9 billion in 2022. However, from 2022 onwards, revenues declined notably, dropping to approximately $38.2 billion in 2023 and further reducing slightly to around $37 billion in 2024. This suggests that while there was strong growth initially, the latter years saw a contraction in sales and operating revenues, though levels remained considerably higher than the 2020 baseline.

Segment profit margin

The segment profit margin illustrates a recovery and improvement following a negative margin in 2020. The margin was -11.37% in 2020, indicating losses relative to revenue. It then improved sharply to 16.83% in 2021 and increased further to 20.81% in 2022, reflecting enhanced profitability. However, margins decreased in the subsequent years to 16.89% in 2023 and then further to 13.98% in 2024. This decrease aligns with the observed declines in net income and sales revenues, suggesting a moderation in profitability after peaking in 2022.

Net income (loss) attributable to ConocoPhillips

The net income attributable to the segment exhibited significant variability over the five-year period. In 2020, the segment experienced a loss of $326 million. This situation improved drastically in 2021 with the net income turning positive and reaching $458 million. The profitability continued to strengthen in 2022, peaking at $714 million. However, 2023 saw a decline to $402 million before rebounding to $712 million in 2024, indicating some volatility but an overall positive trend in earnings.

Sales and other operating revenues

Revenue from sales and other operating activities showed a strong upward trajectory from 2020 to 2022, increasing from $1,666 million to $6,159 million. This growth reflects a substantial expansion in segment operations or favorable market conditions. In 2023, revenues declined to $4,873 million, representing a notable decrease, but rebounded to $5,636 million in 2024. The pattern suggests some market or operational disruptions in 2023 followed by partial recovery.

Segment profit margin

The segment profit margin moved from negative territory at -19.57% in 2020 to positive margins in subsequent years. Margins improved significantly to 11.23% in 2021 and remained relatively stable at 11.59% in 2022. There was a decrease to 8.25% in 2023, coinciding with the dip in revenues and net income, followed by recovery to 12.63% in 2024. Overall, the margin trend indicates improved operational efficiency and profitability post-2020, with some fluctuation likely related to external or market factors.

Net Income (Loss) Attributable to ConocoPhillips

The net income attributable to ConocoPhillips showed notable fluctuations over the analyzed period. In 2020, the net income stood at 448 million US dollars, followed by a significant increase in 2021 to 1,167 million. The upward trend continued strongly in 2022, reaching a peak of 2,244 million. However, in both 2023 and 2024, net income declined to 1,189 million, stabilizing at that level for the last two years. The data indicates a robust growth phase from 2020 to 2022, followed by a correction and stabilization.

Sales and Other Operating Revenues

Sales and other operating revenues exhibited a similar growth pattern with some volatility. Starting at 1,919 million in 2020, revenues surged to 5,902 million in 2021 and more than doubled again in 2022 to 11,271 million. This rapid increase was followed by a sharp decline in 2023 to 5,854 million and a slight decrease in 2024 to 5,788 million. Despite the volatility, revenues in the later years remained substantially higher than the 2020 baseline, indicating an overall expansion in operational scale or market activities during the period.

Segment Profit Margin

The segment profit margin showed moderate fluctuations but remained relatively stable across the years. In 2020, the margin was at 23.35%, after which it declined to 19.77% in 2021. It rebounded slightly in 2022 to 19.91% and continued an incremental upward trend in 2023 and 2024, reaching 20.31% and 20.54%, respectively. This gradual recovery after the initial drop suggests management’s capability to maintain profitability despite revenue and net income volatility.

Net Income (Loss) Attributable to ConocoPhillips

The net income attributable to ConocoPhillips exhibited volatility over the analyzed period. It started relatively strong at 962 million US dollars in 2020, then decreased significantly to 453 million US dollars in 2021. Following this decline, there was a marked recovery in 2022 with net income sharply rising to 2736 million US dollars. This upward trend moderated in the subsequent years, with net income decreasing to 1961 million in 2023 and further declining to 1724 million US dollars in 2024. Overall, despite fluctuations, the net income remained substantially higher in the latter years compared to the start of the period.

Sales and Other Operating Revenues

Sales and other operating revenues demonstrated a less consistent pattern. Revenues increased slightly from 2363 million US dollars in 2020 to 2579 million in 2021, followed by a marginal increase to 2606 million US dollars in 2022. A notable decline occurred in 2023 and continued into 2024, with revenues dropping to 1913 million and 1847 million US dollars, respectively. This indicates some challenges in sustaining revenue levels beyond 2022, with approximately a 29% decrease from the peak revenue year to 2024.

Segment Profit Margin

The segment profit margin showed substantial variance throughout the period. Starting at a robust 40.71% in 2020, it dropped sharply to 17.56% in 2021. From 2022 onwards, the margin increased dramatically to over 100%, reaching 104.99% in 2022 and slightly decreasing to 102.51% in 2023, followed by a moderate decrease to 93.34% in 2024. Such high profit margins relative to revenues and net income suggest improved operational efficiency or favorable cost conditions in the later years.

Overall Analysis

The data reflects a period of considerable financial fluctuations for the segment. Net income and profit margins suggest cycles of significant profitability, notably peaking in 2022, albeit with declining revenues after that year. The disconnect between declining revenues and high profit margins in the latter years might indicate enhanced cost control or changes in the product mix. The segment’s financial performance underscores volatility but also periods of strong profitability, which may warrant further investigation into underlying operational factors.

Net income (loss) attributable to ConocoPhillips

The net income (loss) has shown a trend of substantial reduction in negative impact over the period from 2020 to 2024. Starting at a loss of $64 million in 2020, the loss increased to $107 million in 2021, representing a deterioration in profitability. However, from 2021 onwards, the losses decreased significantly to $51 million in 2022, then further improved to a loss of $13 million in 2023, and almost breakeven with a loss of $1 million in 2024. This indicates a gradual recovery and improvement in financial performance within the segment.

Sales and other operating revenues

The sales and other operating revenues data is limited, with recorded amounts of $7 million in 2020 and $4 million in 2021, followed by missing data for subsequent years. The decline from 2020 to 2021 suggests a reduction in sales or operating revenues, but the absence of data for the years 2022 to 2024 limits the ability to analyze trends beyond 2021.

Segment profit margin

The segment profit margin is reported as highly negative in both 2020 and 2021, with values of -914.29% and -2675% respectively. This extreme negativity reflects significant operating inefficiencies or losses relative to revenues during these years. There is no data available for profit margin in 2022 and beyond, which restricts analysis of whether this margin improved following the sharp losses observed earlier.

The financial performance and position of the Alaska segment exhibit notable variations over the analyzed period. The net income attributable to the company shows a significant recovery from a loss of $719 million in 2020 to a positive income of $1,386 million in 2021. This upward trajectory continues with net income peaking at $2,352 million in 2022, before declining to $1,778 million in 2023 and further to $1,326 million in 2024. Despite the decrease in the last two years, net income remains substantially above the 2020 baseline, reflecting overall profitability improvements compared to the initial loss year.

Total assets demonstrate a consistent upward trend throughout the period. Beginning at $14,623 million in 2020, assets increased steadily each year, reaching $18,030 million by the end of 2024. This growth in asset base suggests ongoing investment or accumulation of resources within the segment.

The segment return on assets (ROA) metric mirrors the net income trend to some extent but shows a more pronounced peak and decline. After a negative ROA of -4.92% in 2020, the segment experiences a sharp improvement to 9.36% in 2021 and further increasing to 15.55% in 2022. Subsequently, ROA decreases to 10.99% in 2023 and continues downward to 7.35% in 2024. This pattern indicates that while asset utilization and profitability improved significantly after 2020, efficiency of asset use declined in the latter years though it remained positive and above earlier levels.

Net Income (Loss)

Initial substantial loss followed by strong recovery and peak in 2022, then gradual decline over the last two years but remaining profitable.

Total Assets

Steady and continuous increase over the five-year span, indicating growth in asset base.

Segment ROA

Shift from negative to positive with peak efficiency in 2022, followed by a notable but still positive decrease through 2024.

Overall, the segment shows a marked improvement in profitability and asset base after 2020, although there are signs of moderation in returns and income growth after 2022. The trend suggests a phase of robust recovery and expansion, moving into a period of slowing income growth and decreasing returns on assets while maintaining healthy asset growth.

The financial performance and asset base of the Lower 48 segment exhibit notable trends over the five-year period analyzed. Net income attributable to the segment demonstrates significant fluctuations, beginning with a substantial loss in 2020, followed by a rapid recovery and strong growth reaching a peak in 2022. Subsequently, net income declines in 2023 and 2024 but remains positive and significantly higher than the initial loss year.

Total assets show a pronounced upward trend, with a considerable increase from 2020 through 2024. The asset base more than triples from 2020 to 2021, then stabilizes with slight fluctuations until another marked increase in 2024, indicating potential investments or asset acquisitions during this period.

The segment return on assets (ROA) metric mirrors the volatile net income trend but also reflects the expanding asset base dynamics. The ROA is deeply negative in 2020, shifts to a positive and improving trajectory in 2021 and 2022, reaching a peak in 2022, and then declines steadily in 2023 and 2024. Despite the decrease in later years, the ROA remains positive throughout the post-2020 period, demonstrating the segment's improved but diminishing efficiency in generating returns from its assets.

Net income (loss) attributable to ConocoPhillips

Experienced a significant loss in 2020, followed by a strong recovery and peak performance in 2022. Though there is a decline in the final two years, profitability remains positive and substantially higher than the start of the period.

Total assets

Increased sharply in 2021 and again in 2024, with moderate stability in the intervening years, indicating growth in asset investments or acquisitions supporting segment operations.

Segment ROA

Transitioned from negative in 2020 to a peak in 2022, then decreased in 2023 and 2024, suggesting that while the segment became more profitable relative to its asset base initially, efficiency diminished somewhat in the later years despite continued profitability.

The financial data for the Canada reportable segment reveals several notable trends over the five-year period from 2020 to 2024.

Net Income (Loss) Attributable to ConocoPhillips (US$ in millions)

The segment experienced a significant turnaround in net income after incurring a loss of $326 million in 2020. From 2021 onwards, net income showed positive growth, increasing from $458 million in 2021 to $714 million in 2022. Although it decreased to $402 million in 2023, it recovered substantially to reach $712 million in 2024. Overall, the net income trend indicates a recovery and positive profitability after the initial loss in 2020, with some fluctuations in the middle years.

Total Assets (US$ in millions)

Total assets generally increased over the period, starting at $6,863 million in 2020 and rising to $7,439 million in 2021. There was a slight dip to $6,971 million in 2022, followed by a substantial increase to $10,277 million in 2023. However, total assets declined again in 2024 to $9,513 million. The asset base has shown overall growth with variability, particularly marked by the sharp rise in 2023 and a moderate reduction thereafter.

Segment Return on Assets (ROA) (%)

The segment's ROA improved markedly after a negative return of -4.75% in 2020. It surged to 6.16% in 2021 and further increased to 10.24% in 2022. However, in 2023, ROA declined to 3.91% before rebounding to 7.48% in 2024. This pattern reflects enhanced asset efficiency in generating income after 2020, despite the dip in 2023, with ROA remaining positive and relatively strong in the final year reported.

In summary, the Canada segment showed recovery from losses experienced in 2020 to achieve positive profitability, asset growth, and improved returns on assets over the following years. The fluctuations in net income, total assets, and ROA suggest periods of operational and capital adjustments, with overall positive trends in performance and asset utilization.

Net Income (Loss) Attributable to ConocoPhillips

The net income exhibited a significant upward trajectory from 2020 to 2022, increasing from 448 million US dollars in 2020 to a peak of 2,244 million US dollars in 2022. This represents a fivefold growth within three years. However, in the subsequent years, 2023 and 2024, net income stabilized at 1,189 million US dollars, indicating a notable decline from the 2022 peak but maintaining a level more than double that of 2020.

Total Assets

Total assets showed a moderate increase from 2020 to 2021, rising from 8,756 million US dollars to 9,125 million US dollars. This was followed by a decline to 8,263 million US dollars in 2022. From 2022 onwards, total assets experienced a gradual recovery, increasing to 8,396 million US dollars in 2023 and reaching 9,770 million US dollars by the end of 2024. The overall trend suggests a period of asset contraction in 2022, succeeded by consistent growth.

Segment Return on Assets (ROA)

The segment ROA demonstrated considerable variability over the analyzed period. Starting at 5.12% in 2020, it increased sharply to 12.79% in 2021 and almost doubled to a peak of 27.16% in 2022. Following this peak, ROA declined to 14.16% in 2023 and then further to 12.17% in 2024. Despite the decrease post-2022, the ROA levels in 2023 and 2024 remained significantly higher than those in 2020 and 2021, indicating improved efficiency in asset utilization compared to the early years.

Overall Insights

The data reveals a strong performance peak in 2022 across key metrics, with the highest net income and ROA, despite a dip in total assets. The subsequent years show a normalization phase, with net income and ROA retreating from their peak yet maintaining solid profitability and asset efficiency above earlier levels. The recovery in total assets during 2023 and 2024 aligns with a sustainable operational foundation supporting the segment's profitability. These trends suggest effective capital management and operational robustness within the EMENA segment over the period from 2020 to 2024.

Net Income (Loss) Attributable to ConocoPhillips

The net income attributable to ConocoPhillips within the Asia Pacific segment exhibited fluctuations over the five-year period. Initially, there was a decline from 962 million US dollars in 2020 to 453 million in 2021. Subsequently, the net income increased sharply to 2,736 million in 2022, marking the highest point in the period. Following this peak, the net income declined again to 1,961 million in 2023 and further to 1,724 million in 2024, yet remaining above the levels observed in 2020 and 2021.

Total Assets

Total assets in the Asia Pacific segment demonstrated a consistent downward trend throughout the period. Beginning at 11,231 million US dollars in 2020, assets decreased progressively each year to 9,840 million in 2021, 9,511 million in 2022, 8,903 million in 2023, and reaching 8,390 million in 2024. This steady contraction suggests a deliberate reduction or reallocation of asset base within the segment.

Segment Return on Assets (ROA)

The segment ROA showed notable variability, reflecting changes in profitability relative to the asset base. It started at 8.57% in 2020, dropped to 4.6% in 2021, then surged to a peak of 28.77% in 2022. After this peak, the ROA decreased to 22.03% in 2023 and further to 20.55% in 2024. Despite these declines, the ROA values in the last three years remained significantly elevated compared to the initial years, indicating improved efficiency or profitability in asset utilization during this period.

Net Income (Loss) Attributable to ConocoPhillips

The net income attributable to ConocoPhillips in the "Other International" segment displays a decreasing loss trend over the period observed. The loss widened significantly from -64 million USD in 2020 to -107 million USD in 2021, indicating considerable challenges in that year. However, from 2021 onward, losses have consistently reduced, moving to -51 million USD in 2022, -13 million USD in 2023, and nearly breaking even at -1 million USD in 2024. This trend suggests improved operational or market conditions, leading to a significant recovery in profitability within this segment.

Total Assets

Total assets reported for the segment show fluctuating and incomplete data across years. Assets increased notably from 226 million USD in 2020 to 1 million USD in 2021, which appears to be a data anomaly or potential reporting reclassification given the sharp decline. Data for 2022 and 2023 is missing, but by 2024, assets slightly increased again to 8 million USD. This erratic pattern with missing values limits conclusive analysis, but the overall asset base appears to be significantly reduced compared to the initial 2020 value, possibly indicating divestitures or asset impairments.

Segment Return on Assets (ROA)

Segment ROA exhibits extreme volatility, with a negative return reported in 2020 at -28.32%. The 2021 figure shows an extraordinarily large negative value of -10,700%, which is likely due to very low or negative asset values combined with losses, reflecting an unusual or exceptional condition. Data for 2022 and 2023 is missing, while in 2024, ROA improved substantially to -12.5%, though it remains negative. This improvement aligns with the reduction in net losses, suggesting some recovery in asset utilization efficiency, albeit still below breakeven performance.

The data over the five-year period reveals several notable trends in the segment's financial performance and asset base. Sales and other operating revenues showed a substantial increase from 2020 through 2022, rising from $3,408 million to a peak of $7,905 million. This was followed by a declining trend in the subsequent years, with revenues falling to $6,553 million by the end of 2024, indicating potential challenges in maintaining the earlier growth momentum.

Regarding asset growth, total assets exhibited a consistent upward trend throughout the observed years. From $14,623 million in 2020, assets increased steadily each year, reaching $18,030 million by 2024. This continuous rise in assets suggests ongoing investment or capital expenditure, reflecting an expansion or enhancement of the segment's asset base.

The segment asset turnover ratio, which measures the efficiency of asset use in generating sales, experienced significant fluctuations. Beginning at 0.23 in 2020, it improved markedly to 0.52 in 2022, indicating enhanced operational efficiency during the period of increasing sales. However, after this peak, the ratio declined to 0.36 by 2024, paralleling the reduction in sales and suggesting a less efficient use of assets in the later years.

Summary of key observations:

- Sales grew strongly through 2022 but declined thereafter, signaling potential market or operational challenges.

- Total assets steadily increased, reflecting ongoing investment and asset growth.

- Asset turnover improved initially but later declined, indicating fluctuating efficiency in asset utilization relative to sales.

The analysis of the annual financial data for the specified segment reveals several notable trends over the five-year period.

Sales and Other Operating Revenues

The revenue figures exhibit a significant upward trend from 2020 through 2022, rising sharply from 9,872 million US dollars in 2020 to a peak of 52,921 million US dollars in 2022. Following this peak, revenues decline noticeably in 2023 and 2024, decreasing to 38,244 million and then further to 37,028 million US dollars, respectively. Despite the decline, the revenues in 2023 and 2024 remain substantially higher than those in 2020 and 2021.

Total Assets

Total assets experience a considerable increase overall. Starting at 11,932 million US dollars in 2020, the asset base grows sharply to 41,699 million in 2021. Between 2021 and 2023, assets remain relatively stable, ranging from approximately 42,950 million to 42,415 million US dollars. A marked increase occurs in 2024, with total assets reaching 66,977 million US dollars, representing the highest point in the observed period.

Segment Asset Turnover

The asset turnover ratio shows variability over the years, beginning at 0.83 in 2020 and declining to 0.70 in 2021, indicating that the efficiency in utilizing assets to generate sales weakened initially. In 2022, the ratio improves significantly to 1.23, reflecting a higher efficiency in revenue generation relative to asset base. However, this is followed by a decline to 0.90 in 2023 and a further drop to 0.55 in 2024, suggesting reduced effectiveness in asset utilization in the most recent periods despite asset growth.

In summary, the segment demonstrated strong revenue growth through 2022, followed by a downward adjustment while maintaining elevated levels relative to the early years. The growth in total assets suggests increased investment or acquisition of assets, particularly notable in 2024. However, asset turnover trends imply fluctuating efficiency in asset utilization, with a peak in 2022 but declining effectiveness in subsequent years as asset levels rose sharply.

The financial data for the Canada reportable segment over the five-year period exhibits notable fluctuations in revenues, asset base, and asset efficiency ratios.

Sales and Other Operating Revenues

Revenues showed a strong upward trend from 2020 to 2022, with an increase from US$1,666 million to US$6,159 million, nearly quadrupling over two years. However, in 2023, revenues declined significantly to US$4,873 million, before partially recovering to US$5,636 million in 2024. This pattern suggests volatility in sales possibly driven by market conditions or operational factors that impacted the segment after 2022.

Total Assets

The asset base increased moderately from US$6,863 million in 2020 to US$7,439 million in 2021, followed by a slight decrease to US$6,971 million in 2022. A sharp increase occurred in 2023 with assets rising to US$10,277 million, representing the highest level in the period, before declining to US$9,513 million in 2024. The substantial asset growth in 2023 may indicate significant capital investments or acquisitions, with some reduction the following year potentially due to asset disposals or depreciation.

Segment Asset Turnover

This efficiency ratio, measuring revenue generated per unit of assets, rose significantly from 0.24 in 2020 to a peak of 0.88 in 2022, reflecting improved utilization of assets during this period. However, it fell sharply to 0.47 in 2023, indicating reduced asset productivity coinciding with the large asset base increase and lower revenues. In 2024, the ratio improved somewhat to 0.59 but remained below earlier peak levels, suggesting persistent challenges in generating proportionate revenues from assets.

Overall, the segment experienced robust growth in revenues and asset turnover through 2022, followed by a period of instability marked by declining revenues, a sharp increase in total assets, and reduced asset efficiency in subsequent years. These trends highlight the potential impact of external market factors or internal strategic decisions affecting operational performance and asset management within the segment.

Sales and Other Operating Revenues

The sales and other operating revenues experienced considerable fluctuations over the five-year period. Starting at $1,919 million in 2020, revenues surged significantly to $5,902 million in 2021 and peaked at $11,271 million in 2022. However, following this peak, revenues sharply declined to $5,854 million in 2023 and slightly decreased further to $5,788 million in 2024. This pattern indicates a volatile revenue stream with a significant growth peak in 2022 before a notable reduction.

Total Assets

Total assets showed relative stability with moderate fluctuations. The asset base increased modestly from $8,756 million in 2020 to $9,125 million in 2021, then declined to $8,263 million in 2022. After this decline, assets gradually increased again to $8,396 million in 2023 and further to $9,770 million in 2024. Overall, the assets demonstrate a slightly upward trend over the five years, despite a mid-period dip.

Segment Asset Turnover

The segment asset turnover ratio, which measures the efficiency in using assets to generate revenues, showed a strong rising trend initially, increasing from 0.22 in 2020 to 0.65 in 2021 and reaching a peak of 1.36 in 2022. This sharp increase reflects improved efficiency or higher revenue generation relative to assets during this period. However, post-2022, the ratio declined markedly to 0.70 in 2023 and further to 0.59 in 2024, suggesting reduced operational efficiency or relatively lower revenue in proportion to asset levels in the last two years assessed.

Summary

Overall, the segment experienced significant revenue volatility with a peak in 2022, accompanied by an asset base that remained relatively stable with minor growth over the period. Asset turnover improved significantly through 2022, indicating enhanced utilization of assets to produce revenue, but this efficiency diminished in the following two years. The data suggest a cyclical pattern with a high performance peak in 2022 followed by decreased revenue generation and asset utilization efficiency in subsequent years.

The financial data for the Asia Pacific segment reveals several noteworthy trends over the five-year period from 2020 to 2024. A general decline is observed in sales and other operating revenues, total assets, and asset turnover ratios, though some fluctuations are present.

Sales and Other Operating Revenues

Sales revenues increased slightly from 2,363 million US dollars in 2020 to 2,579 million in 2021, followed by a marginal rise to 2,606 million in 2022. However, a substantial decrease occurred thereafter, declining to 1,913 million in 2023 and continuing down to 1,847 million in 2024. This indicates a significant reduction in revenue generation in the most recent two years compared to the earlier period.

Total Assets

Total assets consistently decreased throughout the period, starting at 11,231 million US dollars in 2020 and falling steadily each year to 8,390 million by 2024. This downward trend suggests a contraction in asset base, which may reflect divestitures, asset impairments, or lower capital investments in the segment.

Segment Asset Turnover

The asset turnover ratio, a measure of revenue generated per unit of asset, improved from 0.21 in 2020 to 0.26 in 2021 and further to 0.27 in 2022. Post-2022, this ratio fell sharply back to 0.21 in 2023, with a slight uptick to 0.22 in 2024. The early increase signifies improved efficiency in utilizing assets to generate sales, while the subsequent dip aligns with the decline in revenues and asset base observed in later years.

Overall, the data suggests that the Asia Pacific segment experienced initial growth in operating revenues and improved asset utilization through 2022. Nevertheless, the period from 2023 onwards is characterized by declines in revenue and assets along with reduced operational efficiency, indicating potential challenges affecting the segment’s performance in recent years.

The annual data for the "Other International (OI)" segment indicates a fluctuating and partially incomplete financial pattern over the reported periods.

Sales and Other Operating Revenues

The reported sales and other operating revenues show a declining trend from 7 million USD in 2020 to 4 million USD in 2021, with no data available for the subsequent years (2022 to 2024). This initial decrease suggests a contraction in revenue-generating activities within the segment during the early reporting periods, but the absence of data in later years limits the ability to assess ongoing performance or recovery.

Total Assets

Total assets associated with this segment demonstrate a steep decline from 226 million USD in 2020 to just 1 million USD in 2021. Following this sharp drop, no data was recorded for 2022 and 2023, with a marginal increase to 8 million USD reported in 2024. This pattern indicates a significant reduction in asset investment or a possible divestiture in the segment by 2021, with a slight asset base reestablishment in 2024. The lack of information for intermediate years restricts comprehensive trend analysis.

Segment Asset Turnover

The segment asset turnover ratio exhibits a considerable rise from 0.03 in 2020 to 4 in 2021, implying a substantial improvement in the efficiency with which the segment utilized its assets to generate revenues in that year. This change aligns with the drastic reduction in total assets, suggesting that despite a smaller asset base, the segment was able to maintain or optimize revenue generation relative to the assets held. No data is available for subsequent years.

In summary, the data depicts a segment undergoing significant structural changes, including a marked reduction in asset size and revenues with a concurrent improvement in asset turnover efficiency during the early part of the period. The incomplete data for recent years impedes full assessment of longer-term trends or strategic outcomes.

Capital expenditures and investments

The capital expenditures and investments demonstrated an overall increasing trend from 2020 to 2024. Starting at 1038 million US dollars in 2020, the value decreased slightly to 982 million in 2021, then rose to 1091 million in 2022. A significant increase occurred in 2023 reaching 1705 million, followed by a sharp rise to 3194 million in 2024. This indicates an expanding investment phase within the segment over the five-year period.

Depreciation, depletion, amortization (DD&A)

DD&A figures remained relatively stable from 2020 through 2024, starting at 996 million US dollars in 2020 and showing minor fluctuations: a slight increase to 1002 million in 2021, a decrease to 939 million in 2022, a rebound to 1061 million in 2023, and an increase to 1299 million in 2024. These changes suggest a moderate rise in asset consumption and amortization consistent with ongoing operations and asset base changes.

Segment capital expenditures to depreciation ratio

The ratio of segment capital expenditures to depreciation revealed a clear upward trend over the analyzed period. The ratio started near parity at 1.04 in 2020, dipped slightly below 1.0 in 2021 to 0.98, indicating capital expenditures were slightly less than depreciation that year. From 2022 onwards, the ratio climbed significantly: 1.16 in 2022, 1.61 in 2023, and reaching 2.46 in 2024. This escalation indicates increasingly higher reinvestment in capital assets relative to the rate at which assets are depreciated, signifying potential growth or expansion initiatives within the segment.

Overall insights

The data reflects a strategic increase in capital investment beginning in 2022, becoming pronounced by 2024. While DD&A remained relatively stable, the substantial rise in capital expenditures relative to depreciation suggests an emphasis on asset growth or modernization. Such trends may point to efforts aimed at enhancing production capacity or updating infrastructure, implying a forward-looking investment approach in the Alaska segment over the latter years.

The analysis of the Lower 48 segment financial data over the five-year period reveals several notable trends in capital expenditures, depreciation, depletion, and amortization (DD&A), as well as the relationship between capital expenditures and DD&A.

Capital Expenditures and Investments

There is a clear upward trend in capital expenditures and investments from 2020 through 2024. Starting at $1,881 million in 2020, the figure increased significantly each year, reaching a peak of $6,510 million in 2024. The growth is particularly notable between 2021 and 2022, where capital expenditures almost doubled, indicating an aggressive investment strategy in the segment during this period.

Depreciation, Depletion, Amortization (DD&A)

DD&A also shows a consistent upward trend over the analyzed years. The expense rose steadily from $3,358 million in 2020 to $6,442 million in 2024, reflecting the increasing asset base and associated consumption of resource value in the segment. The steady increase signifies ongoing utilization and aging of capital assets.

Segment Capital Expenditures to Depreciation Ratio

The ratio of capital expenditures to depreciation peaked in 2022 at 1.16, indicating capital spending was significantly higher than the annual depreciation expense that year. This suggests a period of substantial investment likely aimed at expanding or upgrading assets. Subsequently, the ratio slightly decreased but remained above 1 in 2023 (1.13) and declined to 1.01 in 2024, indicating a stabilization where capital expenditures approximately matched the depreciation expense. This trend can imply that the rate of reinvestment is aligning with the rate of asset consumption.

Overall, the data reflects a period of increased investment activity in the Lower 48 segment, with capital expenditures growing more rapidly than DD&A through the earlier years and later normalizing to roughly equal depreciation levels. This suggests a strategy focused on significant asset growth and renewal, followed by maintenance of the asset base aligned with its consumption.

Capital Expenditures and Investments

The capital expenditures and investments exhibit notable fluctuations over the five-year period. Beginning at 651 million US dollars in 2020, there is a sharp decline to 203 million in 2021. This is followed by a recovery phase, with expenditures rising to 530 million in 2022, then slightly decreasing to 456 million in 2023, before increasing again to 551 million in 2024. Overall, despite the initial drop in 2021, the trend from 2022 onwards reflects a moderate rebound and relative stabilization in capital spending.

Depreciation, Depletion, Amortization (DD&A)

The DD&A figures show a steady upward trajectory throughout the period under review. Starting at 342 million US dollars in 2020, the measure grows moderately each year, reaching 392 million in 2021, 402 million in 2022, and 420 million in 2023. A substantial increase occurs in 2024, when DD&A rises sharply to 639 million. This pattern indicates gradual asset wear or consumption up to 2023 followed by a significant acceleration in 2024, potentially reflecting increased asset base, accelerated depreciation methods, or impairments.

Segment Capital Expenditures to Depreciation Ratio

The ratio of capital expenditures to depreciation demonstrates a declining trend over the analyzed timeframe. It starts relatively high at 1.9 in 2020, indicating capital investment nearly twice the amount of depreciation. The subsequent year sees a pronounced drop to 0.52, reflecting much lower capital spending relative to asset depreciation. From 2022 to 2024, the ratio remains below 1.5 but shows a gradual decline from 1.32 to 0.86. This decreasing ratio suggests that capital expenditures are increasingly insufficient to fully offset depreciation, which may imply aging assets or a more conservative investment approach.

Capital expenditures and investments

The capital expenditures and investments show a fluctuating trend over the five-year period. Starting at 600 million US dollars in 2020, there was a slight decrease in 2021 to 534 million. This was followed by a significant increase to 998 million in 2022, peaking at 1,111 million in 2023, and then declining to 1,021 million in 2024. This indicates a period of substantial investment growth beginning in 2022, with a mild reduction in the most recent year, though remaining well above the 2020 and 2021 levels.

Depreciation, depletion, amortization (DD&A)

The DD&A values exhibit a downward trend from 2020 to 2023, decreasing from 775 million US dollars in 2020 to 587 million in 2023. However, in 2024, the DD&A increased again to 761 million. This decline followed by a partial recovery could suggest changes in asset base utilization or adjustments in accounting estimates related to asset depreciation and depletion.

Segment capital expenditures to depreciation ratio

The ratio of capital expenditures to depreciation demonstrates notable volatility. It begins below 1 at 0.77 in 2020, decreases further to 0.62 in 2021, indicating that capital expenditures were substantially lower than depreciation during this period. A sharp increase occurs in 2022 to 1.36, followed by a peak of 1.89 in 2023, showing that capital expenditures significantly outpaced depreciation, potentially reflecting aggressive asset expansion or replacement activities. The ratio then declines to 1.34 in 2024, still above unity, implying continued investment above depreciation but at a reduced relative pace compared to the previous year.

Capital expenditures and investments

Over the five-year period, capital expenditures and investments in the Asia Pacific segment fluctuated significantly. Starting at 384 million USD in 2020, the figure showed a slight increase to 390 million USD in 2021. However, there was a substantial spike in 2022, with capital expenditures reaching 1,880 million USD, which represents a nearly fivefold increase compared to the prior year. Following this peak, the expenditures dropped sharply to 354 million USD in 2023, and then increased slightly to 370 million USD in 2024. This pattern indicates a one-time large investment or project in 2022, followed by a return to more normalized levels in subsequent years.

Depreciation, depletion, amortization (DD&A)

DD&A expenses exhibited a different trend. There was a marked increase from 809 million USD in 2020 to 1,483 million USD in 2021, indicating higher asset usage or impairment during that period. In 2022, DD&A expenses decreased sharply to 518 million USD and then declined further to 455 million USD in 2023 and to 425 million USD in 2024. The downward trend post-2021 suggests a reduction in asset base or changes in asset utilization and amortization schedules.

Segment capital expenditures to depreciation ratio

This ratio reflects the relationship between capital expenditures and DD&A. It started at 0.47 in 2020 and decreased to 0.26 in 2021, highlighting relatively lower investment compared to asset depreciation that year. In 2022, the ratio surged dramatically to 3.63, consistent with the large capital expenditure recorded that year. Subsequently, the ratio decreased to 0.78 in 2023 and slightly rose to 0.87 in 2024. This pattern reinforces the observation that 2022 was an exceptional year for investments, with the capital expenditures far exceeding depreciation, while other years maintained ratios under 1, indicating capital expenditure levels below asset consumption rates.

Overall insights

The data suggests that the Asia Pacific segment underwent an unusual investment cycle characterized by a large capital infusion in 2022. That year appears to be an outlier in terms of investment intensity. The trends in DD&A imply a period of increased asset usage or impairment in 2021, followed by reduced amortization impact in later years. The capital expenditure to depreciation ratio aligns with these observations, underscoring the significant but temporary increase in investment magnitude relative to asset consumption in 2022. This analysis points to a distinct cycle of asset investment followed by a normalization phase within this segment over the five-year span.

The reported data for the "Other International (OI)" segment over the five-year span presents a limited number of entries, primarily focusing on capital expenditures and investments. The available data points allow an analysis mainly from 2020 through 2021, with no reported figures for subsequent years.

Capital Expenditures and Investments

The capital expenditures and investments significantly decreased from US$121 million in 2020 to US$33 million in 2021, representing a substantial reduction in investment activity. For the years 2022 through 2024, no capital expenditure or investment data were reported, indicating either a cessation or lack of disclosure of investments in this segment for these years.

Depreciation, Depletion, and Amortization (DD&A)

No data were provided for DD&A across the entire period, limiting the ability to assess the segment's asset cost allocation or usage rate over time. This absence of information restricts analysis of asset consumption and earnings quality within the segment.

Segment Capital Expenditures to Depreciation Ratio

The ratio of capital expenditures to depreciation was not reported for any of the years. Without this ratio, it is challenging to evaluate whether capital investments were sufficient to maintain or grow the asset base relative to asset aging and usage.

In summary, the "Other International (OI)" segment exhibited a sharp decline in capital expenditures from 2020 to 2021, followed by a lack of reported investment activity in subsequent years. The absence of depreciation and related ratio data limits comprehensive trend analysis, but the available information suggests a potential scaling back or strategic pause in capital deployment within the segment post-2021.