Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name CONOCOPHILLIPS
CIK 0001163165
Accession number 0001193125-14-066358
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/1163165/000119312514066358/cop-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of
assets and liabilities for financial reporting purposes and the amounts used for tax purposes. Major
components of deferred tax liabilities and assets at December 31 were:
     
 Millions of Dollars
 2013 2012
Deferred Tax Liabilities    
PP&E and intangibles$ 20,079  18,826
Investment in joint ventures  943  872
Inventory  86  76
Partnership income deferral  168  343
Other  724  793
Total deferred tax liabilities  22,000  20,910
     
Deferred Tax Assets    
Benefit plan accruals  1,274  1,760
Asset retirement obligations and accrued environmental costs  4,483  3,954
Deferred state income tax  49  77
Other financial accruals and deferrals  297  544
Loss and credit carryforwards  1,487  2,062
Other  267  398
Total deferred tax assets  7,857  8,795
Less: valuation allowance  (969)  (1,345)
Net deferred tax assets  6,888  7,450
Net deferred tax liabilities$ 15,112  13,460

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 7,857,000,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance -969,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 6,888,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -22,000,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -15,112,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 703,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax assets, net, noncurrent 171,000,000 us-gaap:DeferredTaxAssetsNetNoncurrent
Deferred tax liabilities, net, current -766,000,000 us-gaap:DeferredTaxLiabilitiesCurrent
Deferred tax liabilities, net, noncurrent -15,220,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -15,112,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
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(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 6,888,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax liabilities, net -22,000,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -15,112,000,000 us-gaap:DeferredTaxAssetsLiabilitiesNet
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