v3.21.2
Segment Disclosures and Related Information
 9 Months Ended
Sep. 30, 2021
Segment Disclosures and Related Information [Abstract]  
Segment Disclosures and Related Information
Note 18—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,
 
Middle East and North Africa; Asia Pacific; and
 
Other International.
 
Corporate and Other represents
 
income and costs not directly associated
 
with an operating segment, such as most
interest income and expense;
 
premiums on early retirement of debt;
 
corporate overhead and
 
certain technology
activities, including licensing revenues;
 
and unrealized holding gains
 
or losses on equity securities.
 
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.
 
On January 15, 2021, we completed our acquisition
 
of Concho, an independent oil and gas exploration
 
and
production company with operations
 
across New Mexico and West
 
Texas.
 
Results of operations for
 
Concho are
included in our Lower 48 segment for the current
 
period.
 
Certain transaction and restructuring
 
costs associated
with the Concho acquisition are included in our Corporate
 
and Other segment.
Analysis of Results by Operating Segment
Millions of Dollars
Three Months Ended
Nine Months Ended
September 30
September 30
2021
2020
2021
2020
Sales and Other Operating Revenues
Alaska
$
1,395
864
3,946
2,396
Intersegment eliminations
-
(30)
-
(11)
Alaska
1,395
834
3,946
2,385
Lower 48
7,566
2,323
19,968
6,859
Intersegment eliminations
(1)
(9)
(5)
(47)
Lower 48
7,565
2,314
19,963
6,812
Canada
967
348
2,636
1,026
Intersegment eliminations
(406)
(20)
(1,063)
(200)
Canada
561
328
1,573
826
Europe, Middle East and North Africa
1,127
432
3,270
1,320
Asia Pacific
673
477
1,880
1,930
Other International
1
1
4
5
Corporate and Other
4
-
72
15
Consolidated sales and other operating
 
revenues
$
11,326
4,386
30,708
13,293
Sales and Other Operating Revenues
 
by Geographic Location
(1)
United States
$
8,963
3,148
23,978
9,209
Australia
-
-
-
605
Canada
561
328
1,573
826
China
193
161
519
374
Indonesia
231
167
634
503
Libya
313
6
833
50
Malaysia
249
148
727
447
Norway
678
358
1,708
1,046
United Kingdom
136
68
729
224
Other foreign countries
2
2
7
9
Worldwide consolidated
$
11,326
4,386
30,708
13,293
Sales and Other Operating Revenues
 
by Product
Crude oil
$
6,433
2,321
16,725
6,981
Natural gas
4,099
1,509
11,422
4,354
Natural gas liquids
414
129
976
364
Other
(2)
380
427
1,585
1,594
Consolidated sales and other operating
 
revenues by product
$
11,326
4,386
30,708
13,293
(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
Nine Months Ended
September 30
September 30
2021
2020
2021
2020
Net Income (Loss) Attributable
 
to ConocoPhillips
Alaska
$
405
(16)
935
(76)
Lower 48
1,631
(78)
3,274
(880)
Canada
155
(75)
267
(270)
Europe, Middle East and North Africa
241
92
601
318
Asia Pacific
257
25
749
945
Other International
(97)
(8)
(106)
14
Corporate and Other
(213)
(390)
(268)
(1,980)
Consolidated net income (loss) attributable
 
to ConocoPhillips
$
2,379
(450)
5,452
(1,929)
Millions of Dollars
September 30
December 31
2021
2020
Total Assets
Alaska
$
14,617
14,623
Lower 48
33,200
11,932
Canada
6,797
6,863
Europe, Middle East and North Africa
8,956
8,756
Asia Pacific
10,657
11,231
Other International
1
226
Corporate and Other
13,076
8,987
Consolidated total assets
$
87,304
62,618