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Segment Disclosures and Related Information
 9 Months Ended
Sep. 30, 2012
Segment Disclosures and Related Information [Abstract]  
Segment Disclosures and Related Information

Note 20—Segment Disclosures and Related Information

 

We explore for, produce, transport and market crude oil, bitumen, natural gas, LNG and natural gas liquids on a worldwide basis. We manage our operations through six operating segments, which are defined by geographic region: Alaska, Lower 48 and Latin America, Canada, Europe, Asia Pacific and Middle East, and Other International.

 

On April 30, 2012, our Downstream business was separated into a stand-alone, publicly traded corporation, Phillips 66, and has been reported as discontinued operations in all periods presented. Our reportable segments changed upon separation, and, as a result, all prior periods presented have been restated. Commodity sales to Phillips 66, which were previously eliminated in consolidation prior to the separation, are now reported as third-party sales. For additional information, see Note 2—Separation of Downstream Business.

 

Our LUKOIL Investment represents our prior investment in the ordinary shares of OAO LUKOIL, an international, integrated oil and gas company headquartered in Russia. We completed the divestiture of our entire interest in LUKOIL in the first quarter of 2011.

 

Corporate and Other represents costs not directly associated with an operating segment, such as most interest expense, corporate overhead, ongoing costs associated with the separation and certain technology activities, net of licensing revenues. Corporate assets include all cash and cash equivalents, short-term investments and restricted cash.

 

We evaluate performance and allocate resources based on net income attributable to ConocoPhillips. Intersegment sales are at prices that approximate market.

Analysis of Results by Operating Segment        
  Millions of Dollars
  Three Months Ended Nine Months Ended
 September 30September 30
   2012 2011 2012 2011
Sales and Other Operating Revenues        
Alaska$ 2,005  2,363  7,135  7,280
Lower 48 and Latin America  4,807  6,296  14,110  17,921
Intersegment eliminations  (40)  (63)  (196)  (227)
 Lower 48 and Latin America  4,767  6,233  13,914  17,694
Canada  1,288  1,595  3,580  4,681
Intersegment eliminations  (117)  (230)  (330)  (758)
 Canada  1,171  1,365  3,250  3,923
Europe  3,285  3,915  10,813  12,294
Intersegment eliminations  -  -  (72)  (50)
 Europe  3,285  3,915  10,741  12,244
Asia Pacific and Middle East  2,167  2,151  5,697  6,730
Intersegment eliminations  (41)  (1)  (41)  (1)
 Asia Pacific and Middle East  2,126  2,150  5,656  6,729
Other International  1,067  399  2,663  1,442
LUKOIL Investment  -  -  -  -
Corporate and Other  99  81  133  150
Consolidated sales and other operating revenues$ 14,520  16,506  43,492  49,462
          

Net Income Attributable to ConocoPhillips        
Alaska$ 535  502  1,706  1,558
Lower 48 and Latin America  182  334  556  996
Canada  (31)  73  (674)  201
Europe  132  266  1,190  1,265
Asia Pacific and Middle East  669  469  3,179  2,288
Other International  567  53  634  251
LUKOIL Investment  -  -  -  239
Corporate and Other  (257)  (215)  (836)  (728)
Discontinued operations  1  1,134  1,247  2,976
Consolidated net income attributable to ConocoPhillips$ 1,798  2,616  7,002  9,046
         

 Millions of Dollars
 September 30 December 31
20122011
Total Assets    
Alaska$ 11,062  10,723
Lower 48 and Latin America  28,444  25,872
Canada  22,075  20,847
Europe  14,305  12,452
Asia Pacific and Middle East  23,532  22,374
Other International  9,741  9,070
LUKOIL Investment  -  -
Corporate and Other  6,210  8,485
Discontinued operations  -  43,407
Consolidated total assets$ 115,369  153,230