v2.4.0.6
Consolidated Income Statement (USD $)
In Millions, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues and Other Income      
Sales and other operating revenues $ 65,756 $ 57,296 $ 48,828
Equity in earnings of affiliates 1,234 1,368 1,439
Gain on dispositions 370 5,563 81
Other income 274 182 257
Total Revenues and Other Income 67,634 64,409 50,605
Costs and Expenses      
Purchased commodities 29,975 24,969 21,349
Production and operating expenses 6,742 6,525 6,291
Selling, general and administrative expenses 867 811 664
Exploration expenses 1,066 1,155 1,182
Depreciation, depletion and amortization 7,015 8,169 8,407
Impairments 321 81 469
Taxes other than income taxes 4,021 2,804 1,862
Accretion on discounted liabilities 426 417 389
Interest and debt expense 954 [1] 1,167 [1] 1,267 [1]
Foreign currency transaction (gains) losses 22 (1) 11
Total Costs and Expenses 51,409 46,097 41,891
Income from continuing operations before income taxes 16,225 18,312 8,714
Provision for income taxes 8,770 7,863 4,917
Income From Continuing Operations 7,455 10,449 3,797
Income from discontinued operations 5,047 [2] 968 [2] 695 [2]
Net income 12,502 11,417 4,492
Less: net income attributable to noncontrolling interests (66) (59) (78)
Net Income 12,436 11,358 4,414
Amounts Attributable to ConocoPhillips Common Shareholders:      
Income from continuing operations 7,394 10,395 3,723
Income from discontinued operations 5,042 963 691
Net Income $ 12,436 $ 11,358 $ 4,414
Basic      
Continuing operations $ 5.38 $ 7.03 $ 2.50
Discontinued operations $ 3.66 $ 0.65 $ 0.46
Net Income Attributable to ConocoPhillips Per Share of Common Stock $ 9.04 $ 7.68 $ 2.96
Diluted      
Continuing operations $ 5.33 $ 6.97 $ 2.48
Discontinued operations $ 3.64 $ 0.65 $ 0.46
Net Income Attributable to ConocoPhillips Per Share of Common Stock $ 8.97 $ 7.62 $ 2.94
Average Common Shares Outstanding (in thousands)      
Basic 1,375,035 1,479,330 1,487,650
Diluted 1,387,100 1,491,067 1,497,608
[1] Pretax interest expense of $18 million, $20 million and $22 million for the years 2011, 2010 and 2009, respectively, are included in discontinued operations and relates to short- and long-term debt included in the separation of the Downstream business. See Note 26-Separation of Downstream Business.
[2] *Net of provision for income taxes on discontinued operations of: $1,729, $470, $173.