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Acquisitions and Dispositions (Tables)

3 Months Ended

Mar. 31, 2025

Business Combination, Asset Acquisition And Dispositions [Abstract]

Schedule of Business Combination

Total Fair Value			Millions of Dollars
Value of ConocoPhillips common stock issued*			$	15,972
Cash transferred at close**			451
Value attributable to Marathon Oil share-based awards			67
Other liabilities incurred***			17
Total Fair Value (Millions)			$	16,507

*Represents the fair value of approximately 143 million shares of ConocoPhillips common stock issued to Marathon Oil stockholders. The fair value is based on the number of eligible shares of Marathon Oil common stock at a 0.255 exchange ratio and ConocoPhillips' average stock price on November 22, 2024, which was $111.93.

**Cash transferred at close primarily represents funds contributed to Marathon Oil for repayment of Marathon Oil's estimated commercial paper liabilities as of the closing date.

***Liabilities incurred are related to cash settled share-based awards and payment of cash in lieu of fractional Marathon Oil shares outstanding.

Schedule of Assets Acquired and Liabilities Assumed

Assets Acquired			Millions of Dollars
Cash and cash equivalents			$	385
Accounts receivable, net			969
Inventories			360
Investments and long-term receivables			550
Net properties, plants and equipment			24,178
Other assets			201
Total assets acquired			$	26,643
Liabilities Assumed
Accounts payable			$	1,180
Accrued income and other taxes			200
Employee benefit obligations			187
Long-term debt			4,719
Asset retirement obligations			781
Deferred income taxes			2,486
Other liabilities			583
Total liabilities assumed			$	10,136
Net assets acquired			$	16,507

Schedule of Supplemental Pro Forma Financial Information

The following table summarizes the unaudited supplemental pro forma financial information for the three-month period ended March 31, 2024, as if we had completed the acquisition on January 1, 2023.

			Millions of Dollars
			Three Months Ended March 31, 2024
			As reported			Pro Forma Marathon Oil			Pro Forma Combined
Supplemental Pro Forma (unaudited)
Total Revenues and Other Income			$	14,476		1,551			16,027
Net Income (Loss)			2,551			344			2,895
Earnings per share:
Basic net income (loss)			$	2.16					2.18
Diluted net income (loss)			2.15						2.18

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Business Combination, Asset Acquisition And Dispositions

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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.

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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.

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