Asset Acquisitions and Dispositions (Tables) |
12 Months Ended |
|---|---|
Dec. 31, 2021 | |
| Business Acquisition [Line Items] | |
| Supplemental Pro Forma Financial Information | Millions of Dollars Year Ended December 31, 2021 Pro forma Pro forma As reported Shell Combined Total $ 48,349 3,220 51,569 Income (loss) before income taxes 12,712 1,201 13,913 Net Income (Loss) attributable to 8,079 920 8,999 Earnings per share: Basic net loss $ 6.09 6.78 Diluted net loss 6.07 6.76 Millions of Dollars Year Ended December 31, 2020 Pro forma Pro forma Pro forma As reported Concho Shell Combined Total $ 19,256 3,762 1,685 24,703 Income (loss) before income taxes (3,140) 787 (247) (2,600) Net Income (Loss) attributable to (2,701) 498 (189) (2,392) Earnings per share: Basic net loss $ (2.51) (1.75) Diluted net loss (2.51) (1.75) |
| Concho Resources Incorporated [Member] | |
| Business Acquisition [Line Items] | |
| Total Consideration | Total Consideration 194,243 1,599 Number of shares exchanged 195,842 1.46 285,929 $ 45.9025 $ 13,125 **Based on the ConocoPhillips average stock price on January 15, 2021. |
| Net Assets Acquired | Assets Acquired Millions of Dollars Cash and cash equivalents $ 382 Accounts receivable, net 745 Inventories 45 Prepaid expenses and other current 37 Investments and long-term receivables 333 Net properties, plants and equipment 18,923 Other assets 62 Total assets $ 20,527 Liabilities Assumed Accounts payable $ 638 Accrued income and other taxes 56 Employee benefit obligations 4 Other accruals 510 Long-term debt 4,696 Asset retirement obligations 310 Deferred income taxes 1,071 Other liabilities and deferred credits 117 Total liabilities $ 7,402 Net assets acquired $ 13,125 |
| Non-Recurring Restructuring and Transition-Related Costs | Millions of Dollars Transaction Restructuring Cost Total Production and operating expenses $ 128 128 Selling, general and administration 135 67 202 Exploration expenses 18 8 26 Taxes 4 2 6 Other expenses - 29 29 $ 157 234 391 |
| Shell Permian Assets [Member] | |
| Business Acquisition [Line Items] | |
| Net Assets Acquired | Assets Acquired Millions of Dollars Accounts receivable, net $ 337 Inventories 20 Net properties, plants and equipment 8,624 Other assets 50 Total assets $ 9,031 Liabilities Assumed Accounts payable $ 211 Accrued income and other taxes 6 Other accruals 20 Asset retirement obligations 86 Other liabilities and deferred credits 36 Total liabilities $ 359 Net assets acquired $ 8,672 |