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Segment Disclosures and Related Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Disclosures and Related Information
Note 24—Segment Disclosures and Related Information
We explore for, produce, transport and market crude oil, bitumen, natural gas, LNG and NGLs on a worldwide basis. We manage our operations through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.
Corporate and Other represents income and costs not directly associated with an operating segment, such as most interest expense, premiums on early retirement of debt, 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. Segment accounting policies are the same as those in Note 1. Intersegment sales are at prices that approximate market.
In 2021, we completed our acquisition of Concho, an independent oil and gas exploration and production company with operations across New Mexico and West Texas as well as our acquisition of Shell’s Permian assets in the Texas Delaware Basin. The accounting close date of the Shell transaction, used for reporting purposes, was December 31, 2021. Results of operations for Concho and assets acquired from Shell are included in our Lower 48 segment. Certain transaction and restructuring costs associated with these acquisitions are included in our Corporate and Other segment. See Note 3.
Analysis of Results by Operating Segment
Millions of Dollars
202220212020
Sales and Other Operating Revenues
Alaska$7,905 5,480 3,408 
Intersegment eliminations— — (11)
Alaska7,905 5,480 3,397 
Lower 4852,921 29,306 9,872 
Intersegment eliminations(18)(12)(51)
Lower 4852,903 29,294 9,821 
Canada6,159 4,077 1,666 
Intersegment eliminations(2,445)(1,583)(405)
Canada3,714 2,494 1,261 
Europe, Middle East and North Africa11,271 5,902 1,919 
Intersegment eliminations(1)— (2)
Europe, Middle East and North Africa11,270 5,902 1,917 
Asia Pacific2,606 2,579 2,363 
Other International— 4 7 
Corporate and Other96 75 18 
Consolidated sales and other operating revenues$78,494 45,828 18,784 
The market for our products is large and diverse, therefore, our sales and other operating revenues are not dependent upon any single customer.
Millions of Dollars
202220212020
Depreciation, Depletion, Amortization and Impairments
Alaska$941 1,002 996 
Lower 484,854 4,067 3,358 
Canada400 392 342 
Europe, Middle East and North Africa735 862 775 
Asia Pacific518 1,483 809 
Other International— — — 
Corporate and Other44 76 54 
Consolidated depreciation, depletion, amortization and impairments$7,492 7,882 6,334 
Equity in Earnings of Affiliates
Alaska$4 5 (7)
Lower 48(14)(18)(11)
Canada— — — 
Europe, Middle East and North Africa780 502 311 
Asia Pacific1,310 343 137 
Other International1 — 2 
Corporate and Other— — — 
Consolidated equity in earnings of affiliates$2,081 832 432 
Millions of Dollars
202220212020
Income Tax Provision (Benefit)
Alaska$885 402 (256)
Lower 483,088 1,390 (378)
Canada206 150 (185)
Europe, Middle East and North Africa5,445 2,543 136 
Asia Pacific480 483 294 
Other International53 (53)(20)
Corporate and Other(609)(282)(76)
Consolidated income tax provision (benefit)$9,548 4,633 (485)
Net Income (Loss) Attributable to ConocoPhillips
Alaska$2,352 1,386 (719)
Lower 4811,015 4,932 (1,122)
Canada714 458 (326)
Europe, Middle East and North Africa2,244 1,167 448 
Asia Pacific2,736 453 962 
Other International(51)(107)(64)
Corporate and Other(330)(210)(1,880)
Consolidated net income (loss) attributable to ConocoPhillips$18,680 8,079 (2,701)
Investments in and Advances to Affiliates
Alaska$55 58 62 
Lower 48235 242 25 
Canada— — — 
Europe, Middle East and North Africa1,049 797 918 
Asia Pacific6,154 5,603 6,705 
Other International— 1 — 
Corporate and Other— — — 
Consolidated investments in and advances to affiliates$7,493 6,701 7,710 
Total Assets
Alaska$15,126 14,812 14,623 
Lower 4842,950 41,699 11,932 
Canada6,971 7,439 6,863 
Europe, Middle East and North Africa8,263 9,125 8,756 
Asia Pacific9,511 9,840 11,231 
Other International— 1 226 
Corporate and Other11,008 7,745 8,987 
Consolidated total assets$93,829 90,661 62,618 
Millions of Dollars
202220212020
Capital Expenditures and Investments
Alaska$1,091 982 1,038 
Lower 485,630 3,129 1,881 
Canada530 203 651 
Europe, Middle East and North Africa998 534 600 
Asia Pacific1,880 390 384 
Other International— 33 121 
Corporate and Other30 53 40 
Consolidated capital expenditures and investments$10,159 5,324 4,715 
Interest Income and Expense
Interest income
Alaska$— — — 
Lower 48— — — 
Canada— — — 
Europe, Middle East and North Africa1 2 5 
Asia Pacific9 9 7 
Other International— — — 
Corporate and Other185 22 88 
Interest and debt expense
Corporate and Other$805 884 806 
Sales and Other Operating Revenues by Product
Crude oil$41,492 23,648 9,736 
Natural gas26,941 16,904 6,427 
Natural gas liquids3,650 1,668 528 
Other*6,411 3,608 2,093 
Consolidated sales and other operating revenues by product$78,494 45,828 18,784 
*Includes LNG and bitumen.
Geographic Information
Millions of Dollars
Sales and Other Operating Revenues(1)
Long-Lived Assets(2)
202220212020202220212020
United States$60,899 34,847 13,230 51,200 50,580 24,034 
Australia and Timor-Leste— — 605 6,158 5,579 6,676 
Canada3,714 2,494 1,261 6,269 6,608 6,385 
China1,135 724 460 1,538 1,476 1,491 
Indonesia(3)
159 879 689 — 28 464 
Libya1,582 1,102 155 714 659 670 
Malaysia1,312 975 610 1,107 1,252 1,501 
Norway3,415 2,563 1,426 4,369 4,681 5,294 
United Kingdom6,273 2,236 336 1 1 1 
Other foreign countries5 8 12 1,003 748 1,087 
Worldwide consolidated$78,494 45,828 18,784 72,359 71,612 47,603 
(1)Sales and other operating revenues are attributable to countries based on the location of the selling operation.
(2)Defined as net PP&E plus equity investments and advances to affiliated companies.
(3)Assets divested in 2022. See Note 3.