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Segment Disclosures and Related Information

9 Months Ended

Sep. 30, 2018

Segment Disclosures and Related Information [Abstract]

Segment Disclosures and Related Information

Note 21—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 primarily defined by geographic region: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

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

We evaluate performance and allocate resources based on net income (loss) 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 30					September 30
		2018		2017	*	2018		2017	*
Sales and Other Operating Revenues
Alaska	$	1,493		932		4,281		3,010
Lower 48		4,543		3,102		12,347		9,422
Intersegment eliminations		(14)		(2)		(18)		(7)
Lower 48		4,529		3,100		12,329		9,415
Canada		735		699		2,436		2,357
Intersegment eliminations		(308)		(155)		(853)		(330)
Canada		427		544		1,583		2,027
Europe and North Africa		1,574		1,110		4,826		3,564
Asia Pacific and Middle East		1,348		959		3,570		2,877
Corporate and Other		78		43		162		94
Consolidated sales and other operating revenues	$	9,449		6,688		26,751		20,987
Sales and Other Operating Revenues by Geographic Location
United States	$	6,025		4,038		16,617		12,440
Australia		515		323		1,258		1,050
Canada		427		544		1,583		2,027
China		262		148		616		511
Indonesia		234		191		662		554
Libya**		264		91		802		315
Malaysia		339		297		1,039		768
Norway		734		583		2,112		1,751
United Kingdom		574		437		1,911		1,498
Other foreign countries		75		36		151		73
Worldwide consolidated	$	9,449		6,688		26,751		20,987
Sales and Other Operating Revenues by Product
Crude Oil	$	5,277		2,947		14,503		9,387
Natural gas		2,503		2,496		7,593		7,949
Natural gas liquids		351		238		847		745
Other***		1,318		1,007		3,808		2,906
Consolidated sales and other operating revenues by product	$	9,449		6,688		26,751		20,987
*Under the modified retrospective approach, prior period amounts have not been adjusted upon adoption of ASC Topic 606.
**Included in "Other foreign countries" in prior periods.
***Includes LNG and bitumen.

Net Income (Loss) Attributable to ConocoPhillips
Alaska	$	427		103		1,369		291
Lower 48		513		(97)		1,231		(2,995)
Canada		34		280		2		2,607
Europe and North Africa		241		85		776		379
Asia Pacific and Middle East		577		396		1,504		(1,540)
Other International		316		(20)		267		(77)
Corporate and Other		(247)		(327)		(760)		(1,099)
Consolidated net income (loss) attributable to ConocoPhillips	$	1,861		420		4,389		(2,434)

	Millions of Dollars
	September 30			December 31
	2018			2017
Total Assets
Alaska	$	12,688		12,108
Lower 48		15,308		14,632
Canada		5,950		6,214
Europe and North Africa		11,895		11,870
Asia Pacific and Middle East		16,611		16,985
Other International		315		97
Corporate and Other		7,789		11,456
Consolidated total assets	$	70,556		73,362

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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