v3.20.2
Segment Disclosures and Related Information
 6 Months Ended
Jun. 30, 2020
Segment Disclosures and Related Information [Abstract]  
Segment Disclosures and Related Information
Note 20—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 and North
 
Africa, Asia Pacific and Middle East, and Other
International.
 
 
Corporate and Other represents income and costs
 
not directly associated with an operating
 
segment, such as
most interest expense, 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.
 
Intersegment sales are at prices that approximate
 
market.
 
 
Effective in the third quarter of 2020, we will restructure
 
our segments to align with changes to our internal
organization.
 
The Middle East business will move from the
 
Asia Pacific and Middle East segment to the
Europe and North Africa segment.
 
The segments will be renamed the Asia Pacific
 
segment and the Europe,
North Africa and Middle East segment.
 
Accordingly, beginning in the third quarter of 2020 we will revise
segment information disclosures and segment performance
 
metrics presented within our results of operations
for the current and historical comparative periods.
Analysis of Results by Operating Segment
Millions of Dollars
Three Months Ended
Six Months Ended
June 30
June 30
2020
2019
2020
2019
Sales and Other Operating Revenues
Alaska
$
419
1,426
1,532
2,833
Intersegment eliminations
19
-
19
-
Alaska
438
1,426
1,551
2,833
Lower 48
1,433
3,809
4,536
7,962
Intersegment eliminations
(28)
(11)
(38)
(23)
Lower 48
1,405
3,798
4,498
7,939
Canada
165
717
678
1,540
Intersegment eliminations
-
(335)
(180)
(585)
Canada
165
382
498
955
Europe and North Africa
288
1,313
888
2,859
Asia Pacific and Middle East
450
1,030
1,453
2,373
Other International
1
-
4
-
Corporate and Other
2
4
15
144
Consolidated sales and other operating revenues
$
2,749
7,953
8,907
17,103
Sales and Other Operating Revenues by Geographic
 
Location
(1)
United States
$
1,844
5,225
6,061
10,911
Australia
168
311
605
870
Canada
165
382
498
955
China
67
159
213
402
Indonesia
132
226
336
431
Libya
-
267
44
521
Malaysia
83
334
299
670
Norway
242
561
688
1,149
United Kingdom
46
485
156
1,189
Other foreign countries
2
3
7
5
Worldwide consolidated
$
2,749
7,953
8,907
17,103
Sales and Other Operating Revenues by Product
Crude oil
$
1,216
4,813
4,660
9,394
Natural gas
1,190
1,915
2,845
4,918
Natural gas liquids
84
213
235
451
Other
(2)
259
1,012
1,167
2,340
Consolidated sales and other operating revenues
 
by product
$
2,749
7,953
8,907
17,103
(1) Sales and other operating revenues are attributable to countries based on the location of the selling operation.
(2) Includes LNG and bitumen.
Millions of Dollars
Three Months Ended
Six Months Ended
June 30
June 30
2020
2019
2020
2019
Net Income (Loss) Attributable to ConocoPhillips
Alaska
$
(141)
462
(60)
846
Lower 48
(365)
206
(802)
399
Canada
(86)
100
(195)
222
Europe and North Africa
11
407
86
614
Asia Pacific and Middle East
662
517
1,060
1,042
Other International
(6)
81
22
212
Corporate and Other
185
(193)
(1,590)
78
Consolidated net income (loss) attributable
 
to ConocoPhillips
$
260
1,580
(1,479)
3,413
Millions of Dollars
June 30
December 31
2020
2019
Total Assets
Alaska
$
16,121
15,453
Lower 48
12,158
14,425
Canada
5,909
6,350
Europe and North Africa
7,204
8,121
Asia Pacific and Middle East
12,404
14,716
Other International
299
285
Corporate and Other
8,951
11,164
Consolidated total assets
$
63,046
70,514