CONOCOPHILLIPS | 2013 | FY | 3

Note 25—Segment Disclosures and Related Information

 

We explore for, produce, transport and market crude oil, bitumen, natural gas, LNG and natural gas liquids on a worldwide basis. We manage our operations through six operating segments, which are defined by geographic region: Alaska, Lower 48 and Latin America, Canada, Europe, Asia Pacific and Middle East, and Other International.

 

On April 30, 2012, our Downstream business was separated into a stand-alone, publicly traded corporation, Phillips 66. In 2012, we also agreed to sell our Nigeria and Algeria businesses and our interest in Kashagan. Accordingly, results for these operations have been reported as discontinued operations in all periods presented. Commodity sales to Phillips 66, which were previously eliminated in consolidation prior to the separation, are now reported as third-party sales. For additional information, see Note 3—Discontinued Operations.

 

Our LUKOIL Investment represents our prior investment in the ordinary shares of OAO LUKOIL, an international, integrated oil and gas company headquartered in Russia. We completed the divestiture of our entire interest in LUKOIL in the first quarter of 2011.

 

Corporate and Other represents costs not directly associated with an operating segment, such as most interest expense, corporate overhead, costs associated with the separation and certain technology activities, including licensing revenues. Corporate assets include all cash and cash equivalents, short-term investments and restricted cash.

 

We evaluate performance and allocate resources based on net income attributable to ConocoPhillips. Segment accounting policies are the same as those in Note 1—Accounting Policies. Intersegment sales are at prices that approximate market.

Analysis of Results by Operating Segment      
        
  Millions of Dollars
   2013 2012 2011
Sales and Other Operating Revenues      
Alaska$ 8,553  9,502  9,533
Lower 48 and Latin America  19,480  19,600  23,507
Intersegment eliminations  (104)  (230)  (283)
 Lower 48 and Latin America  19,376  19,370  23,224
Canada  5,254  5,028  6,270
Intersegment eliminations  (607)  (475)  (944)
 Canada  4,647  4,553  5,326
Europe  12,040  14,709  17,119
Intersegment eliminations  -  (72)  (50)
 Europe  12,040  14,637  17,069
Asia Pacific and Middle East  8,426  7,705  8,665
Intersegment eliminations  -  (41)  (1)
 Asia Pacific and Middle East  8,426  7,664  8,664
Other International  1,208  2,088  221
Corporate and Other  163  153  159
Consolidated sales and other operating revenues$ 54,413  57,967  64,196

Depreciation, Depletion, Amortization and Impairments      
Alaska$ 533  520  578
Lower 48 and Latin America  3,247  2,796  2,228
Canada  1,531  1,600  1,758
Europe  1,334  1,203  1,405
Asia Pacific and Middle East  1,188  1,002  1,063
Other International  30  45  8
Corporate and Other  100  94  108
Consolidated depreciation, depletion, amortization and impairments$ 7,963  7,260  7,148

 Millions of Dollars
 2013 2012 2011
Equity in Earnings of Affiliates     
Alaska$ 7  10  (77)
Lower 48 and Latin America  45  86  99
Canada  984  726  677
Europe  (3)  29  46
Asia Pacific and Middle East  1,162  1,057  819
Other International  26  6  (324)
Corporate and Other  (2)  (3)  (1)
Consolidated equity in earnings of affiliates$ 2,219  1,911  1,239

Income Taxes      
Alaska$ 1,275  1,266  1,171
Lower 48 and Latin America  534  133  741
Canada  (44)  (252)  (45)
Europe  2,323  4,012  4,459
Asia Pacific and Middle East  1,512  1,578  1,887
Other International  933  1,485  162
LUKOIL Investment  -  -  123
Corporate and Other  (124)  (280)  (290)
Consolidated income taxes$ 6,409  7,942  8,208

Net Income Attributable to ConocoPhillips      
Alaska$ 2,274  2,276  1,984
Lower 48 and Latin America  1,081  1,029  1,288
Canada  718  (684)  91
Europe  1,199  1,498  1,830
Asia Pacific and Middle East  3,532  3,928  3,032
Other International  (6)  359  (377)
LUKOIL Investment  -  -  239
Corporate and Other  (820)  (993)  (960)
Discontinued operations  1,178  1,015  5,309
Consolidated net income attributable to ConocoPhillips$ 9,156  8,428  12,436

Investments In and Advances To Affiliates      
Alaska$ 53  56  58
Lower 48 and Latin America  905  1,133  1,168
Canada  10,273  9,973  9,045
Europe  216  242  195
Asia Pacific and Middle East  12,806  12,468  11,571
Other International  68  61  339
Corporate and Other  16  15  9
Discontinued operations  -  -  10,275
Consolidated investments in and advances to affiliates$ 24,337  23,948  32,660
       

 Millions of Dollars
  2013 2012 2011
Total Assets      
Alaska$ 11,662  10,950  10,723
Lower 48 and Latin America  29,571  28,895  25,872
Canada  22,394  22,308  20,847
Europe  17,299  15,562  12,452
Asia Pacific and Middle East  25,473  23,721  22,374
Other International  1,610  1,418  1,542
Corporate and Other  8,367  6,823  8,485
Discontinued operations  1,681  7,467  50,935
Consolidated total assets$ 118,057  117,144  153,230

Capital Expenditures and Investments      
Alaska$ 1,140  828  774
Lower 48 and Latin America  5,234  5,251  3,882
Canada  2,232  2,184  1,761
Europe  3,115  2,860  2,222
Asia Pacific and Middle East  3,382  2,430  2,325
Other International  252  415  8
Corporate and Other  182  204  242
Consolidated capital expenditures and investments$ 15,537  14,172  11,214

Interest Income and Expense      
Interest income      
 Corporate$ 60  96  94
 Lower 48 and Latin America  43  47  51
 Europe  1  -  -
 Asia Pacific and Middle East  8  11  7
 Other International  1  9  18
Interest and debt expense      
 Corporate$ 532  606  832
 Canada  80  103  122

Sales and Other Operating Revenues by Product      
Crude oil $ 24,899  26,302  24,237
Natural gas  22,539  25,163  29,915
Natural gas liquids  2,111  2,416  3,101
Other*  4,864  4,086  6,943
Consolidated sales and other operating revenues by product$ 54,413  57,967  64,196
*Includes LNG and bitumen.      

Geographic Information             
  
 Millions of Dollars 
 Sales and Other Operating Revenues(1) Long-Lived Assets(2) 
  2013 2012 2011 2013 2012 2011 
              
United States $ 27,954  28,901  32,790  37,593  35,443  33,750 
Australia(3)  3,571  3,371  3,458  13,450  13,483  12,572 
Canada   4,647  4,553  5,326  21,380  21,304  20,083 
China  2,120  1,499  2,154  2,143  2,408  2,449 
Indonesia  2,083  2,198  2,076  1,780  1,662  1,726 
Malaysia  281  -  -  3,406  1,832  1,349 
Norway   4,323  5,059  5,755  8,089  7,288  5,918 
United Kingdom  7,717  9,578  11,314  5,959  4,480  3,257 
Other foreign countries  1,717  2,808  1,323  3,364  3,311  3,758 
Discontinued operations(4)  -  -  -  -  -  31,978 
Worldwide consolidated$ 54,413  57,967  64,196  97,164  91,211  116,840 
(1)Sales and other operating revenues are attributable to countries based on the location of the operations generating the revenues. 
(2)Defined as net PP&E plus investments in and advances to affiliated companies.  
(3)Includes amounts related to the joint petroleum development area with shared ownership held by Australia and Timor-Leste. 
(4)Represents the Downstream business. 

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