XML 45 R33.htm IDEA: XBRL DOCUMENT v3.24.3

Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition And Dispositions [Abstract]

Schedule of Business Acquisition

The final consideration for the all-cash transaction was $3.0 billion after customary adjustments (CAD $4.1 billion):

Fair value of consideration			Millions of Dollars
Cash paid			$	2,635
Contingent consideration			320
Final Consideration			$	2,955

Schedule of Assets Acquired and Liabilities Assumed

Recognized amounts of identifiable assets acquired and liabilities assumed			Millions of Dollars
Oil and gas properties			$	3,082
Asset retirement obligations			(112)
Other			(15)
Total identifiable net assets			$	2,955

Schedule of Supplemental Pro Forma Financial Information

The following table summarizes the unaudited supplemental pro forma financial information for the three- and nine-month periods ended September 30, 2023, as if we had completed the acquisition on January 1, 2022.

			Millions of Dollars
			Three Months Ended September 30, 2023												Nine Months Ended September 30, 2023
Supplemental Pro Forma (unaudited)			As Reported			Pro Forma Surmont			Pro Forma Combined						As Reported			Pro Forma Surmont			Pro Forma Combined
Total Revenues and Other Income			$	14,866		697			15,563						43,267			1,989			45,256
Income (loss) before income taxes			4,100			269			4,369						12,024			498			12,522
Net Income (Loss)			2,798			204			3,002						7,950			378			8,328
Earnings per share ($ per share):
Basic net income (loss)			$	2.33					2.50						6.56						6.87
Diluted net income (loss)			2.32						2.49						6.54						6.85

X

- Definition

Business Combination, Asset Acquisition And Dispositions

+ References

No definition available.

+ Details

Name:	cop_BusinessCombinationAssetAcquisitionAndDispositionsAbstract
Namespace Prefix:	cop_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration