Income Taxes	3 Months Ended
Mar. 31, 2020
Income Taxes [Abstract]
Income Taxes	Note 21—Income Taxes Our effective tax rate for the first quarter of 2020 was negative 9.5 percent compared with 31 percent for the first quarter of 2019. The decrease in the effective tax rate for the first quarter of 2020 is primarily due to an increase of our U.S. valuation allowance as well as a shift in the mix of our before-tax income between higher and lower tax jurisdictions during the first quarter of 2020. As a result of the COVID-19 pandemic and the resulting economic uncertainty, many countries in which we operate, including Australia, Canada, Norway and the U.S., enacted tax legislation in the first quarter of 2020. This legislation did not have a material impact to ConocoPhillips. During the first quarter of 2020, our U.S. valuation allowance increased by $ 346 million compared to a decrease of $ 103 million for the first quarter of 2019. The change to our U.S. valuation allowance for both periods relates primarily to the fair value measurement of our Cenovus Energy common shares and our expectation of the tax impact related to incremental capital gains (losses).

Income Taxes

3 Months Ended

Mar. 31, 2020

Note 21—Income Taxes

Our effective tax rate for the first quarter of 2020

was negative

9.5

percent compared with

percent for the

first quarter of 2019.

The decrease in the effective tax rate for the first

quarter of 2020 is primarily due to an

increase of our U.S. valuation allowance as

well as a shift in the mix of our before-tax income

between higher

and lower tax jurisdictions during the first

quarter of 2020.

As a result of the COVID-19 pandemic and the

resulting economic uncertainty, many countries in which we

operate, including Australia, Canada, Norway and

the U.S., enacted tax legislation in the first

quarter of 2020.

This legislation did not have a material

impact to ConocoPhillips.

During the first quarter of 2020, our U.S. valuation

allowance increased by $

346

million compared to a

decrease of $

103

million for the first quarter of 2019.

The change to our U.S. valuation allowance

for both

periods relates primarily to the fair value measurement

of our Cenovus Energy common shares and our

expectation of the tax impact related to incremental

capital gains (losses).