Analysis of Reportable Segments
ConocoPhillips operates in 6 segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.
- Segment Profit Margin
- Segment Return on Assets (Segment ROA)
- Segment Asset Turnover
- Segment Capital Expenditures to Depreciation
- Sales and other operating revenues
- Depreciation, depletion, amortization and impairments
- Net income (loss) attributable to ConocoPhillips
- Total assets
- Capital expenditures and investments
Segment Profit Margin
ConocoPhillips, profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Alaska | 25.05% | 29.75% | 25.29% | -21.10% | 27.72% |
| Lower 48 | 16.89% | 20.81% | 16.83% | -11.37% | 2.81% |
| Canada | 8.25% | 11.59% | 11.23% | -19.57% | 9.59% |
| Europe, Middle East and North Africa | 20.31% | 19.91% | 19.77% | 23.35% | 62.14% |
| Asia Pacific | 102.51% | 104.99% | 17.56% | 40.71% | 32.77% |
| Other International | — | — | -2,675.00% | -914.29% | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Alaska | Alaska segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Lower 48 | Lower 48 segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Canada | Canada segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Europe, Middle East and North Africa | Europe, Middle East and North Africa segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Asia Pacific | Asia Pacific segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Other International |
Segment Profit Margin: Alaska
ConocoPhillips; Alaska; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 1,778) | 2,352) | 1,386) | (719) | 1,520) |
| Sales and other operating revenues | 7,098) | 7,905) | 5,480) | 3,408) | 5,483) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 25.05% | 29.75% | 25.29% | -21.10% | 27.72% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Net income (loss) attributable to ConocoPhillips ÷ Sales and other operating revenues
= 100 × 1,778 ÷ 7,098 = 25.05%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Alaska | Alaska segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Profit Margin: Lower 48
ConocoPhillips; Lower 48; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 6,461) | 11,015) | 4,932) | (1,122) | 436) |
| Sales and other operating revenues | 38,244) | 52,921) | 29,306) | 9,872) | 15,514) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 16.89% | 20.81% | 16.83% | -11.37% | 2.81% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Net income (loss) attributable to ConocoPhillips ÷ Sales and other operating revenues
= 100 × 6,461 ÷ 38,244 = 16.89%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Lower 48 | Lower 48 segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Profit Margin: Canada
ConocoPhillips; Canada; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 402) | 714) | 458) | (326) | 279) |
| Sales and other operating revenues | 4,873) | 6,159) | 4,077) | 1,666) | 2,910) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 8.25% | 11.59% | 11.23% | -19.57% | 9.59% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Net income (loss) attributable to ConocoPhillips ÷ Sales and other operating revenues
= 100 × 402 ÷ 4,873 = 8.25%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Canada | Canada segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Profit Margin: Europe, Middle East and North Africa
ConocoPhillips; Europe, Middle East and North Africa; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 1,189) | 2,244) | 1,167) | 448) | 3,170) |
| Sales and other operating revenues | 5,854) | 11,271) | 5,902) | 1,919) | 5,101) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 20.31% | 19.91% | 19.77% | 23.35% | 62.14% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Net income (loss) attributable to ConocoPhillips ÷ Sales and other operating revenues
= 100 × 1,189 ÷ 5,854 = 20.31%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Europe, Middle East and North Africa | Europe, Middle East and North Africa segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Asia Pacific
ConocoPhillips; Asia Pacific; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 1,961) | 2,736) | 453) | 962) | 1,483) |
| Sales and other operating revenues | 1,913) | 2,606) | 2,579) | 2,363) | 4,525) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 102.51% | 104.99% | 17.56% | 40.71% | 32.77% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Net income (loss) attributable to ConocoPhillips ÷ Sales and other operating revenues
= 100 × 1,961 ÷ 1,913 = 102.51%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Asia Pacific | Asia Pacific segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Profit Margin: Other International
ConocoPhillips; Other International; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | (13) | (51) | (107) | (64) | 263) |
| Sales and other operating revenues | —) | —) | 4) | 7) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | — | — | -2,675.00% | -914.29% | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Net income (loss) attributable to ConocoPhillips ÷ Sales and other operating revenues
= 100 × -13 ÷ 0 = —
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Other International |
Segment Return on Assets (Segment ROA)
ConocoPhillips, ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Alaska | 10.99% | 15.55% | 9.36% | -4.92% | 9.84% |
| Lower 48 | 15.23% | 25.65% | 11.83% | -9.40% | 3.02% |
| Canada | 3.91% | 10.24% | 6.16% | -4.75% | 4.39% |
| Europe, Middle East and North Africa | 14.16% | 27.16% | 12.79% | 5.12% | 34.20% |
| Asia Pacific | 22.03% | 28.77% | 4.60% | 8.57% | 10.93% |
| Other International | — | — | -10,700.00% | -28.32% | 92.28% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Alaska | Alaska segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Lower 48 | Lower 48 segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Canada | Canada segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Europe, Middle East and North Africa | Europe, Middle East and North Africa segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Asia Pacific | Asia Pacific segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Other International |
Segment ROA: Alaska
ConocoPhillips; Alaska; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 1,778) | 2,352) | 1,386) | (719) | 1,520) |
| Total assets | 16,174) | 15,126) | 14,812) | 14,623) | 15,453) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 10.99% | 15.55% | 9.36% | -4.92% | 9.84% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Net income (loss) attributable to ConocoPhillips ÷ Total assets
= 100 × 1,778 ÷ 16,174 = 10.99%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Alaska | Alaska segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment ROA: Lower 48
ConocoPhillips; Lower 48; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 6,461) | 11,015) | 4,932) | (1,122) | 436) |
| Total assets | 42,415) | 42,950) | 41,699) | 11,932) | 14,425) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 15.23% | 25.65% | 11.83% | -9.40% | 3.02% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Net income (loss) attributable to ConocoPhillips ÷ Total assets
= 100 × 6,461 ÷ 42,415 = 15.23%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Lower 48 | Lower 48 segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment ROA: Canada
ConocoPhillips; Canada; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 402) | 714) | 458) | (326) | 279) |
| Total assets | 10,277) | 6,971) | 7,439) | 6,863) | 6,350) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 3.91% | 10.24% | 6.16% | -4.75% | 4.39% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Net income (loss) attributable to ConocoPhillips ÷ Total assets
= 100 × 402 ÷ 10,277 = 3.91%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Canada | Canada segment ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment ROA: Europe, Middle East and North Africa
ConocoPhillips; Europe, Middle East and North Africa; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 1,189) | 2,244) | 1,167) | 448) | 3,170) |
| Total assets | 8,396) | 8,263) | 9,125) | 8,756) | 9,269) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 14.16% | 27.16% | 12.79% | 5.12% | 34.20% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Net income (loss) attributable to ConocoPhillips ÷ Total assets
= 100 × 1,189 ÷ 8,396 = 14.16%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Europe, Middle East and North Africa | Europe, Middle East and North Africa segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment ROA: Asia Pacific
ConocoPhillips; Asia Pacific; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | 1,961) | 2,736) | 453) | 962) | 1,483) |
| Total assets | 8,903) | 9,511) | 9,840) | 11,231) | 13,568) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 22.03% | 28.77% | 4.60% | 8.57% | 10.93% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Net income (loss) attributable to ConocoPhillips ÷ Total assets
= 100 × 1,961 ÷ 8,903 = 22.03%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Asia Pacific | Asia Pacific segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment ROA: Other International
ConocoPhillips; Other International; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net income (loss) attributable to ConocoPhillips | (13) | (51) | (107) | (64) | 263) |
| Total assets | —) | —) | 1) | 226) | 285) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | — | — | -10,700.00% | -28.32% | 92.28% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Net income (loss) attributable to ConocoPhillips ÷ Total assets
= 100 × -13 ÷ 0 = —
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Other International |
Segment Asset Turnover
ConocoPhillips, asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Alaska | 0.44 | 0.52 | 0.37 | 0.23 | 0.35 |
| Lower 48 | 0.90 | 1.23 | 0.70 | 0.83 | 1.08 |
| Canada | 0.47 | 0.88 | 0.55 | 0.24 | 0.46 |
| Europe, Middle East and North Africa | 0.70 | 1.36 | 0.65 | 0.22 | 0.55 |
| Asia Pacific | 0.21 | 0.27 | 0.26 | 0.21 | 0.33 |
| Other International | — | — | 4.00 | 0.03 | 0.00 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Alaska | Alaska segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Lower 48 | Lower 48 segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Canada | Canada segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Europe, Middle East and North Africa | Europe, Middle East and North Africa segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Asia Pacific | Asia Pacific segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Other International |
Segment Asset Turnover: Alaska
ConocoPhillips; Alaska; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 7,098) | 7,905) | 5,480) | 3,408) | 5,483) |
| Total assets | 16,174) | 15,126) | 14,812) | 14,623) | 15,453) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.44 | 0.52 | 0.37 | 0.23 | 0.35 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 7,098 ÷ 16,174 = 0.44
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Alaska | Alaska segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Asset Turnover: Lower 48
ConocoPhillips; Lower 48; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 38,244) | 52,921) | 29,306) | 9,872) | 15,514) |
| Total assets | 42,415) | 42,950) | 41,699) | 11,932) | 14,425) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.90 | 1.23 | 0.70 | 0.83 | 1.08 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 38,244 ÷ 42,415 = 0.90
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Lower 48 | Lower 48 segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Asset Turnover: Canada
ConocoPhillips; Canada; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 4,873) | 6,159) | 4,077) | 1,666) | 2,910) |
| Total assets | 10,277) | 6,971) | 7,439) | 6,863) | 6,350) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.47 | 0.88 | 0.55 | 0.24 | 0.46 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 4,873 ÷ 10,277 = 0.47
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Canada | Canada segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Europe, Middle East and North Africa
ConocoPhillips; Europe, Middle East and North Africa; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 5,854) | 11,271) | 5,902) | 1,919) | 5,101) |
| Total assets | 8,396) | 8,263) | 9,125) | 8,756) | 9,269) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.70 | 1.36 | 0.65 | 0.22 | 0.55 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 5,854 ÷ 8,396 = 0.70
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Europe, Middle East and North Africa | Europe, Middle East and North Africa segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Asset Turnover: Asia Pacific
ConocoPhillips; Asia Pacific; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | 1,913) | 2,606) | 2,579) | 2,363) | 4,525) |
| Total assets | 8,903) | 9,511) | 9,840) | 11,231) | 13,568) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.21 | 0.27 | 0.26 | 0.21 | 0.33 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 1,913 ÷ 8,903 = 0.21
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Asia Pacific | Asia Pacific segment asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Asset Turnover: Other International
ConocoPhillips; Other International; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenues | —) | —) | 4) | 7) | —) |
| Total assets | —) | —) | 1) | 226) | 285) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | — | — | 4.00 | 0.03 | 0.00 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenues ÷ Total assets
= 0 ÷ 0 = —
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Other International |
Segment Capital Expenditures to Depreciation
ConocoPhillips, capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Alaska | 1.61 | 1.16 | 0.98 | 1.04 | 1.88 |
| Lower 48 | 1.13 | 1.16 | 0.77 | 0.56 | 1.05 |
| Canada | 1.07 | 1.33 | 0.52 | 1.90 | 1.59 |
| Europe, Middle East and North Africa | 1.89 | 1.36 | 0.62 | 0.77 | 0.80 |
| Asia Pacific | 0.78 | 3.63 | 0.26 | 0.47 | 0.45 |
| Other International | — | — | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Alaska | Alaska segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Lower 48 | Lower 48 segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Canada | Canada segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Europe, Middle East and North Africa | Europe, Middle East and North Africa segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Asia Pacific | Asia Pacific segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Other International |
Segment Capital Expenditures to Depreciation: Alaska
ConocoPhillips; Alaska; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | 1,705) | 1,091) | 982) | 1,038) | 1,513) |
| Depreciation, depletion, amortization and impairments | 1,061) | 941) | 1,002) | 996) | 805) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.61 | 1.16 | 0.98 | 1.04 | 1.88 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, depletion, amortization and impairments
= 1,705 ÷ 1,061 = 1.61
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Alaska | Alaska segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Lower 48
ConocoPhillips; Lower 48; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | 6,487) | 5,630) | 3,129) | 1,881) | 3,394) |
| Depreciation, depletion, amortization and impairments | 5,729) | 4,854) | 4,067) | 3,358) | 3,224) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.13 | 1.16 | 0.77 | 0.56 | 1.05 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, depletion, amortization and impairments
= 6,487 ÷ 5,729 = 1.13
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Lower 48 | Lower 48 segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Canada
ConocoPhillips; Canada; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | 456) | 530) | 203) | 651) | 368) |
| Depreciation, depletion, amortization and impairments | 425) | 400) | 392) | 342) | 232) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.07 | 1.33 | 0.52 | 1.90 | 1.59 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, depletion, amortization and impairments
= 456 ÷ 425 = 1.07
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Canada | Canada segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Europe, Middle East and North Africa
ConocoPhillips; Europe, Middle East and North Africa; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | 1,111) | 998) | 534) | 600) | 708) |
| Depreciation, depletion, amortization and impairments | 587) | 735) | 862) | 775) | 887) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.89 | 1.36 | 0.62 | 0.77 | 0.80 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, depletion, amortization and impairments
= 1,111 ÷ 587 = 1.89
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Europe, Middle East and North Africa | Europe, Middle East and North Africa segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Asia Pacific
ConocoPhillips; Asia Pacific; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | 354) | 1,880) | 390) | 384) | 584) |
| Depreciation, depletion, amortization and impairments | 455) | 518) | 1,483) | 809) | 1,285) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.78 | 3.63 | 0.26 | 0.47 | 0.45 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, depletion, amortization and impairments
= 354 ÷ 455 = 0.78
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Asia Pacific | Asia Pacific segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Capital Expenditures to Depreciation: Other International
ConocoPhillips; Other International; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures and investments | —) | —) | 33) | 121) | 8) |
| Depreciation, depletion, amortization and impairments | —) | —) | —) | —) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | — | — | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Capital expenditures and investments ÷ Depreciation, depletion, amortization and impairments
= 0 ÷ 0 = —
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Other International |
Sales and other operating revenues
ConocoPhillips, sales and other operating revenues by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Alaska | 7,098) | 7,905) | 5,480) | 3,408) | 5,483) |
| Lower 48 | 38,244) | 52,921) | 29,306) | 9,872) | 15,514) |
| Canada | 4,873) | 6,159) | 4,077) | 1,666) | 2,910) |
| Europe, Middle East and North Africa | 5,854) | 11,271) | 5,902) | 1,919) | 5,101) |
| Asia Pacific | 1,913) | 2,606) | 2,579) | 2,363) | 4,525) |
| Other International | —) | —) | 4) | 7) | —) |
| Intersegment eliminations | (1,874) | (2,464) | (1,595) | (469) | (1,187) |
| Corporate and Other | 33) | 96) | 75) | 18) | 221) |
| Consolidated | 56,141) | 78,494) | 45,828) | 18,784) | 32,567) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Depreciation, depletion, amortization and impairments
ConocoPhillips, depreciation, depletion, amortization and impairments by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Alaska | 1,061) | 941) | 1,002) | 996) | 805) |
| Lower 48 | 5,729) | 4,854) | 4,067) | 3,358) | 3,224) |
| Canada | 425) | 400) | 392) | 342) | 232) |
| Europe, Middle East and North Africa | 587) | 735) | 862) | 775) | 887) |
| Asia Pacific | 455) | 518) | 1,483) | 809) | 1,285) |
| Other International | —) | —) | —) | —) | —) |
| Corporate and Other | 27) | 44) | 76) | 54) | 62) |
| Consolidated | 8,284) | 7,492) | 7,882) | 6,334) | 6,495) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Net income (loss) attributable to ConocoPhillips
ConocoPhillips, net income (loss) attributable to conocophillips by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Alaska | 1,778) | 2,352) | 1,386) | (719) | 1,520) |
| Lower 48 | 6,461) | 11,015) | 4,932) | (1,122) | 436) |
| Canada | 402) | 714) | 458) | (326) | 279) |
| Europe, Middle East and North Africa | 1,189) | 2,244) | 1,167) | 448) | 3,170) |
| Asia Pacific | 1,961) | 2,736) | 453) | 962) | 1,483) |
| Other International | (13) | (51) | (107) | (64) | 263) |
| Corporate and Other | (821) | (330) | (210) | (1,880) | 38) |
| Consolidated | 10,957) | 18,680) | 8,079) | (2,701) | 7,189) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Total assets
ConocoPhillips, total assets by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Alaska | 16,174) | 15,126) | 14,812) | 14,623) | 15,453) |
| Lower 48 | 42,415) | 42,950) | 41,699) | 11,932) | 14,425) |
| Canada | 10,277) | 6,971) | 7,439) | 6,863) | 6,350) |
| Europe, Middle East and North Africa | 8,396) | 8,263) | 9,125) | 8,756) | 9,269) |
| Asia Pacific | 8,903) | 9,511) | 9,840) | 11,231) | 13,568) |
| Other International | —) | —) | 1) | 226) | 285) |
| Corporate and Other | 9,759) | 11,008) | 7,745) | 8,987) | 11,164) |
| Consolidated | 95,924) | 93,829) | 90,661) | 62,618) | 70,514) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Capital expenditures and investments
ConocoPhillips, capital expenditures and investments by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Alaska | 1,705) | 1,091) | 982) | 1,038) | 1,513) |
| Lower 48 | 6,487) | 5,630) | 3,129) | 1,881) | 3,394) |
| Canada | 456) | 530) | 203) | 651) | 368) |
| Europe, Middle East and North Africa | 1,111) | 998) | 534) | 600) | 708) |
| Asia Pacific | 354) | 1,880) | 390) | 384) | 584) |
| Other International | —) | —) | 33) | 121) | 8) |
| Corporate and Other | 1,135) | 30) | 53) | 40) | 61) |
| Consolidated | 11,248) | 10,159) | 5,324) | 4,715) | 6,636) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).