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Acquisitions and Dispositions (Tables) | 9 Months Ended
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Sep. 30, 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 | $ | 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 | 976 |
Inventories | 302 |
Investments and long-term receivables | 562 |
Net properties, plants and equipment | 24,232 |
Other assets | 215 |
Total assets acquired | $ | 26,672 |
Liabilities assumed |
Accounts payable | $ | 1,183 |
Accrued income and other taxes | 201 |
Employee benefit obligations | 187 |
Long-term debt | 4,719 |
Asset retirement obligations | 781 |
Deferred income taxes | 2,488 |
Other liabilities | 606 |
Total liabilities assumed | $ | 10,165 |
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- and nine-month periods ended September 30, 2024, as if we had completed the acquisition on January 1, 2023.
| Millions of Dollars
| Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2024
| As reported | Pro forma Marathon Oil | Pro forma combined |  | As reported | Pro forma Marathon Oil | Pro forma combined
Supplemental pro forma (unaudited) |  |  |  |  |  |  |
Total revenues and other Income | $ | 13,604 |  | 1,791 |  | 15,395 |  |  | $ | 42,216 |  | 5,049 |  | 47,265 |
Net income (loss) | 2,059 |  | 401 |  | 2,460 |  |  | 6,939 |  | 1,195 |  | 8,134 |
Earnings per share: |  |  |  |  |  |  |
Basic net income (loss) | $ | 1.77 |  |  | 1.88 |  |  | $ | 5.92 |  |  | 6.18 |
Diluted net income (loss) | 1.76 |  |  | 1.88 |  |  | 5.91 |  |  | 6.17 |

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