View Filing Data

$ 7,756

$ 9,449

$ 24,859

$ 26,751

290

294

651

767

Gain on Dispositions

1,785

113

1,884

175

262

309

1,136

673

10,093

10,165

28,530

28,366

2,710

3,530

9,059

10,308

1,331

1,367

4,020

3,851

119

369

336

360

103

592

267

1,566

1,494

4,602

4,344

Taxes other than Income Taxes

237

312

706

768

259

266

184

186

582

547

(21)

350

6,600

7,259

20,292

21,065

Income tax provision (benefit)

3,493

2,906

8,238

7,301

422

1,033

1,724

2,874

Less: net income attributable to noncontrolling interests

3,071

1,873

6,514

4,427

(15)

(12)

(45)

(38)

Net Income (Loss) Attributable to ConocoPhillips

^[1]

$ 3,056

$ 1,861

$ 6,469

$ 4,389

Earnings Per Share, Basic [Abstract]

Earnings Per Share, Basic

$ 2.76

$ 1.60

$ 5.75

$ 3.74

Earnings Per Share, Diluted [Abstract]

Earnings Per Share, Diluted

$ 2.74

$ 1.59

$ 5.72

$ 3.72

Average Common Shares Outstanding (in thousands)

Basic

1,108,555

1,163,033

1,124,558

1,171,673

Diluted

1,113,250

1,172,694

1,131,034

1,180,774

[1]	See Notes to Consolidated Financial Statements.

Consolidated Statement of Comprehensive Income - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Consolidated Statement of Comprehensive Income [Abstract]

Reclassification adjustment for amortization of prior service cost (credit) included in net income

$ 3,071

$ 1,873

$ 6,514

$ 4,427

Defined benefit plans

(8)

(10)

(26)

(30)

Net actuarial gain (loss) arising during the period

(149)

187

(149)

145

Reclassification adjustment for amortization of net actuarial losses included in net income

114

228

Other Comprehensive Income Loss Non Sponsored Plan

(1)

Income taxes on defined benefit plans

(74)

(102)

Defined benefit plans, net of tax

(72)

136

(42)

240

Foreign currency translation adjustments

247

493

(222)

Income taxes on foreign currency translation

(2)

Foreign currency translation adjustments, net of tax

245

491

(222)

Other Comprehensive Income (Loss), Net of Tax

173

195

449

Comprehensive Income (Loss)

3,244

2,068

6,963

4,445

Less: comprehensive income attributable to noncontrolling interests

(15)

(12)

(45)

(38)

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

^[1]

$ 3,229

$ 2,056

$ 6,918

$ 4,407

[1]	See Notes to Consolidated Financial Statements.

Consolidated Balance Sheet - USD ($)
$ in Millions

Sep. 30, 2019

Dec. 31, 2018

Assets

$ 7,193

$ 5,915

Accounts and notes receivable (net of allowance of $12 million in 2019 and $25 million in 2018)

908

248

3,478

3,920

Accounts and notes receivable-related parties

138

147

1,951

1,462

955

1,007

594

575

Investments and long-term receivables

15,217

13,274

8,916

9,329

Loans and advances-related parties

219

335

Net properties, plants and equipment (net of accumulated depreciation, depletion and amortization of $60,014 million in 2019 and $64,899 million in 2018)

43,814

45,698

2,174

1,344

70,340

69,980

Liabilities

Accounts payable-related parties

3,148

3,863

121

112

1,077

1,320

543

809

1,030

1,259

5,942

7,395

Asset retirement obligations and accrued environmental costs

14,799

14,856

6,087

7,688

4,693

5,021

1,786

1,764

1,794

1,192

Common stock (2,500,000,000 shares authorized at $.01 par value) Issued (2019 - 1,795,243,745 shares; 2018 - 1,791,637,434 shares) Par value

35,101

37,916

Equity

Capital in excess of par

46,954

46,879

Treasury stock (at cost: 2019 - 697,975,745 shares; 2018 - 653,288,213 shares)

(45,656)

(42,905)

Accumulated other comprehensive income (loss)

(5,654)

(6,063)

Total Common Stockholders' Equity

39,484

34,010

35,146

31,939

Total Liabilities and Equity

125

Total Equity

35,239

32,064

^[1]

$ 70,340

$ 69,980

[1]	See Notes to Consolidated Financial Statements.

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Consolidated Balance Sheet [Abstract]
Allowance for accounts and notes receivable	$ 12	$ 25
Accumulated depreciation, depletion and amortization	$ 60,014	$ 64,899
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, par value	$ 0.010	$ 0.01
Common stock, shares issued	1,795,243,745	1,791,637,434
Treasury stock, shares	697,975,078	653,288,213

Consolidated Statement of Cash Flows - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Adjustments to reconcile net income (loss) to net cash provided by operating activities

$ 6,514

$ 4,427

4,602

4,344

Dry hole costs and leasehold impairments

361

Distributions received greater than equity losses (undistributed equity earnings)

259

266

Deferred taxes

(304)

398

260

(11)

Gain on dispositions

(1,884)

(175)

Decrease (increase) in accounts and notes receivable

(820)

(223)

Working capital adjustments

333

(147)

Decrease (increase) in inventories

(2)

(165)

Decrease (increase) in prepaid expenses and other current assets

(29)

(51)

Increase (decrease) in accounts payable

(476)

(43)

Increase (decrease) in taxes and other accruals

(718)

446

Net cash provided by operating activities

8,122

9,151

Working capital changes associated with investing activities

(5,041)

(5,133)

(57)

2,920

394

(665)

996

127

119

Net Cash Provided by (Used in) Investing Activities

(146)

(2,788)

(3,665)

(59)

(4,970)

(39)

121

(2,751)

(2,073)

(1,037)

(1,009)

Net Cash Provided by (Used in) Financing Activities

(73)

(111)

(3,959)

(8,042)

Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash

(68)

(40)

Net Change in Cash and Cash Equivalents and Restricted Cash Increase (Decrease)

1,307

(2,596)

Cash and Cash Equivalents and Restricted Cash at beginning of period

6,151

^[1]

6,536

Cash and Cash Equivalents and Restricted Cash at end of period

$ 7,458

^[2]

$ 3,940

[1]

Restricted cash totaling $236 million is included in the "Other assets" line of our Consolidated Balance Sheet as of December 31, 2018.

See Notes to Consolidated Financial Statements.

[2]

Restricted cash of $89 million and $176 million are included in the "Prepaid expenses and other current assets" and "Other assets" lines, respectively, of our Consolidated Balance Sheet as of September 30, 2019.

Consolidated Statement of Cash Flows (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Prepaid Expenses and Other Current Assets [Member]
Restricted Cash	$ 89
Other Assets [Member]
Restricted Cash	$ 176	$ 236

Basis of Presentation

9 Months Ended

Sep. 30, 2019

Basis of Presentation [Abstract]

Business Description and Basis of Presentation [Text Block]

Note 1—Basis of Presentation

The interim-period financial information presented in the financial statements included in this report is unaudited and, in the opinion of management, includes all known accruals and adjustments necessary for a fair presentation of the consolidated financial position of ConocoPhillips and its results of operations and cash flows for such periods. All such adjustments are of a normal and recurring nature unless otherwise disclosed. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and notes included in our 2018 Annual Report on Form 10-K.

Change in Accounting Principles

9 Months Ended

Sep. 30, 2019

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Significant Accounting Policies [Text Block]

Note 2—Changes in Accounting Principles

We adopted the provisions of FASB ASU No. 2016-02, “Leases,” and its amendments set forth by the provisions of ASU No. 2018-01, “Land Easement Practical Expedient for Transition to Topic 842,” ASU No. 2018-10, “Codification Improvements to Topic 842, Leases,” ASU No. 2018-11, “Targeted Improvements,” ASU No. 2018-20, “Narrow-Scope Improvements for Lessors,” and ASU No. 2019-01, “Codification Improvements,” collectively FASB ASC Topic 842, “Leases” (ASC Topic 842), beginning January 1, 2019.

ASC Topic 842 establishes comprehensive accounting and financial reporting requirements for leasing arrangements, supersedes the existing requirements in FASB ASC Topic 840, “Leases” (ASC Topic 840), and requires lessees to recognize substantially all lease assets and lease liabilities on the balance sheet. The provisions of ASC Topic 842 also modify the definition of a lease and outline requirements for recognition, measurement, presentation and disclosure of leasing arrangements by both lessees and lessors.

We adopted ASC Topic 842 using the modified retrospective approach and elected to utilize the Optional Transition Method, which permits us to apply the provisions of ASC Topic 842 to leasing arrangements existing at or entered into after January 1, 2019, and present in our financial statements comparative periods prior to January 1, 2019 under the historical requirements of ASC Topic 840. In addition, we elected to adopt the package of optional transition-related practical expedients, which among other things, allows us to carry forward certain historical conclusions reached under ASC Topic 840 regarding lease identification, classification, and the accounting treatment of initial direct costs. Furthermore, we elected not to record assets and liabilities on our consolidated balance sheet for new or existing lease arrangements with terms of 12 months or less.

The primary impact of applying ASC Topic 842 is the initial recognition of $998 million of lease liabilities and corresponding right-of-use assets on our consolidated balance sheet as of January 1, 2019, for leases classified as operating leases under ASC Topic 840, as well as enhanced disclosure of our leasing arrangements. Our accounting treatment for finance leases remains unchanged. In addition, there is no cumulative effect to retained earnings or other components of equity recognized as of January 1, 2019, and the adoption of ASC Topic 842 did not impact the presentation of our consolidated income statement or statement of cash flows. See Note 15—Non-Mineral Leases for additional information related to the adoption of ASC Topic 842.

We adopted the provisions of FASB ASU No. 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” beginning January 1, 2019. The ASU allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act, eliminating the stranded tax effects. The cumulative effect to our consolidated balance sheet at January 1, 2019 for the adoption of ASU No. 2018-02 was as follows:

	Millions of Dollars
		December 31	ASU No. 2018-02	January 1
		2018	Adjustments	2019
Equity
Accumulated other comprehensive loss	$	(6,063)	(40)	(6,103)
Retained earnings		34,010	40	34,050
For additional information regarding the impact of the adoption of ASU No. 2018-02, see Note 16—Accumulated Other Comprehensive Loss.

Variable Interest Entities (VIEs)

9 Months Ended

Sep. 30, 2019

Variable Interest Entity[Abstract]

Variable Interest Entity Disclosure [Text Block]

Note 3—Variable Interest Entities

We hold variable interests in VIEs that have not been consolidated because we are not considered the primary beneficiary. Information on our significant VIEs follows:

Australia Pacific LNG Pty Ltd (APLNG)

APLNG is considered a VIE, as it has entered into certain contractual arrangements that provide it with additional forms of subordinated financial support. We are not the primary beneficiary of APLNG because we share with Origin Energy and China Petrochemical Corporation (Sinopec) the power to direct the key activities of APLNG that most significantly impact its economic performance, which involve activities related to the production and commercialization of CBM, as well as LNG processing and export marketing. As a result, we do not consolidate APLNG, and it is accounted for as an equity method investment.

As of September 30, 2019, we have not provided any financial support to APLNG other than amounts previously contractually required. Unless we elect otherwise, we have no requirement to provide liquidity or purchase the assets of APLNG. See Note 6—Investments, Loans and Long-Term Receivables, and Note 11—Guarantees, for additional information.

Marine Well Containment Company, LLC (MWCC)

MWCC provides well containment equipment and technology and related services in the deepwater U.S. Gulf of Mexico. Its principal activities involve the development and maintenance of rapid-response hydrocarbon well containment systems that are deployable in the Gulf of Mexico on a call-out basis. We have a 10 percent ownership interest in MWCC, and it is accounted for as an equity method investment because MWCC is a limited liability company in which we are a Founding Member and exercise significant influence through our permanent seat on the ten-member Executive Committee responsible for overseeing the affairs of MWCC. In 2016, MWCC executed a $154 million term loan financing arrangement with an external financial institution whose terms required the financing be secured by letters of credit provided by certain owners of MWCC, including ConocoPhillips. In connection with the financing transaction, we issued a letter of credit of $22 million which can be drawn upon in the event of a default by MWCC on its obligation to repay the proceeds of the term loan. MWCC is considered a VIE, as it has entered into arrangements that provide it with additional forms of subordinated financial support. We are not the primary beneficiary and do not consolidate MWCC because we share the power to govern the business and operation of the company and to undertake certain obligations that most significantly impact its economic performance with nine other unaffiliated owners of MWCC.

Based on inputs related to the fair value of MWCC observed in the second quarter of 2019, we reduced the carrying value of our equity method investment in MWCC to $30 million and recorded a before-tax impairment of $95 million which is included in the “Equity in earnings of affiliates” line on our consolidated income statement. For additional information see Note 14—Fair Value Measurement.

At September 30, 2019, the carrying value of our equity method investment in MWCC was $27 million. We have not provided any financial support to MWCC other than amounts previously contractually required. Unless we elect otherwise, we have no requirement to provide liquidity or purchase the assets of MWCC.

Inventories

9 Months Ended

Sep. 30, 2019

Inventories [Abstract]

Disposal Group Excluding Discontinued Operation Additional Disclosures [Abstract]

Note 4—Inventories

Inventories consisted of the following:

	Millions of Dollars
	September 30		December 31
		2019	2018

Crude oil and natural gas	$	399	432
Materials and supplies		556	575
	$	955	1,007

Inventories valued on the LIFO basis totaled $230 million and $292 million at September 30, 2019 and December 31, 2018, respectively. The estimated excess of current replacement cost over LIFO cost of inventories was $115 million and $75 million at September 30, 2019 and December 31, 2018, respectively.

Assets Held for Sale or Sold

9 Months Ended

Sep. 30, 2019

Long Lived Assets Held For Sale [Text Block]

Note 5—Asset Dispositions

Asset Dispositions

In April 2019, we entered into an agreement to sell two ConocoPhillips U.K. subsidiaries to Chrysaor E&P Limited for $2.675 billion plus interest and customary adjustments, with an effective date of January 1, 2018. On September 30, 2019, we completed the sale for proceeds of $2.2 billion. In the nine-month period of 2019, we recorded a $1.8 billion before-tax and $2.1 billion after-tax gain associated with this transaction. Together the subsidiaries sold indirectly held our exploration and production assets in the U.K. At the time of disposition, the net carrying value was approximately $0.4 billion, consisting primarily of $1.6 billion of PP&E, $0.5 billion of cumulative foreign currency translation adjustments, and $0.2 billion of deferred tax assets, offset by $1.8 billion of ARO and negative $0.1 billion of working capital. The before-tax earnings associated with the subsidiaries sold were $0.6 billion and $0.4 billion for the nine-month periods of 2018 and 2019, respectively. Results of operations for the U.K. are reported within our Europe and North Africa segment.

In the second quarter of 2019, we recognized an after-tax gain of $52 million upon the closing of the sale of our 30 percent interest in the Greater Sunrise Fields to the government of Timor-Leste for $350 million. The Greater Sunrise Fields were included in our Asia Pacific and Middle East segment.

In January 2019, we entered into agreements to sell our 12.4 percent ownership interests in the Golden Pass LNG Terminal and Golden Pass Pipeline. We also entered into agreements to amend our contractual obligations for retaining use of the facilities. As a result of entering into these agreements, we recorded a before-tax impairment of $60 million in the first quarter of 2019 which is included in the “Equity in earnings of affiliates” line on our consolidated income statement. We completed the sale in the second quarter of 2019. Results of operations for these assets are reported in our Lower 48 segment. See Note 14—Fair Value Measurement for additional information.

In the second quarter of 2017, we completed the sale of our 50 percent nonoperated interest in the Foster Creek Christina Lake (FCCL) Partnership, as well as the majority of our western Canada gas assets to Cenovus Energy.

Consideration for the transaction included a five-year uncapped contingent payment. The contingent payment, calculated on a quarterly basis, is $6 million CAD for every $1 CAD by which the WCS quarterly average crude price exceeds $52 CAD per barrel. Contingent payments received during the five-year period are recorded as “Gain on dispositions” on our consolidated income statement and reflected in our Canada segment. We recorded gains on dispositions for these contingent payments of $95 million and $104 million in the nine-month periods of 2018 and 2019, respectively.

Planned Disposition

In October 2019, we announced an agreement to sell the subsidiaries that hold our Australia-West assets and operations to Santos for $1.39 billion, plus customary adjustments, with an effective date of January 1, 2019. In addition, we will receive a payment of $75 million upon final investment decision of the Barossa development project. These subsidiaries hold our 37.5 percent interest in the Barossa Project and Caldita Field, our 56.9 percent interest in the Darwin LNG Facility and Bayu-Undan Field, our 40 percent interest in the Greater Poseidon Fields, and our 50 percent interest in the Athena Field. At September 30, 2019, the net carrying value was approximately $0.6 billion, consisting primarily of $1.2 billion of PP&E and $0.2 billion of cash and working capital, offset by $0.6 billion of ARO and $0.2 billion of deferred tax liabilities. This transaction met held for sale criteria in October 2019 and is expected to be completed in the first quarter of 2020, subject to regulatory approvals and other specific conditions precedent. Results of operations for the subsidiaries to be sold are reported within our Asia Pacific and Middle East segment.

Investments, Loans and Long-Term Receivables

9 Months Ended

Sep. 30, 2019

Investments, Loans and Long-Term Receivables [Abstract]

Investments, Loans and Long-Term Receivables

Note 6—Investments, Loans and Long-Term Receivables

APLNG

APLNG executed project financing agreements for an $8.5 billion project finance facility in 2012. The $8.5 billion project finance facility was initially composed of financing agreements executed by APLNG with the Export-Import Bank of the United States for approximately $2.9 billion, the Export-Import Bank of China for approximately $2.7 billion, and a syndicate of Australian and international commercial banks for approximately $2.9 billion. All amounts have been drawn from the facility. APLNG made its first principal and interest repayment in March 2017 and is scheduled to make bi-annual payments until March 2029.

APLNG made a voluntary repayment of $1.4 billion to the Export-Import Bank of China in September 2018. At the same time, APLNG obtained a United States Private Placement (USPP) bond facility of $1.4 billion. APLNG made its first interest payment related to this facility in March 2019, and principal payments are scheduled to commence in September 2023, with bi-annual payments due on the facility until September 2030.

During the first quarter of 2019, APLNG refinanced $3.2 billion of existing project finance debt through two transactions. As a result of the first transaction, APLNG obtained a commercial bank facility of $2.6 billion. APLNG made its first principal and interest repayment in September 2019 with bi-annual payments due on the facility until March 2028. Through the second transaction, APLNG obtained a USPP bond facility of $0.6 billion. APLNG made its first interest payment in September 2019, and principal payments are scheduled to commence in September 2023, with bi-annual payments due on the facility until September 2030.

In conjunction with the $3.2 billion debt obtained during the first quarter of 2019 to refinance existing project finance debt, APLNG made voluntary repayments of $2.2 billion and $1.0 billion to a syndicate of Australian and international commercial banks and the Export-Import Bank of China, respectively.

At September 30, 2019, a balance of $6.7 billion was outstanding on the facilities. See Note 11—Guarantees, for additional information.

APLNG is considered a VIE, as it has entered into certain contractual arrangements that provide it with additional forms of subordinated financial support. See Note 3—Variable Interest Entities, for additional information.

At September 30, 2019, the carrying value of our equity method investment in APLNG was $7,410 million. The balance is included in the “Investments and long-term receivables” line on our consolidated balance sheet.

Loans and Long-Term Receivables

As part of our normal ongoing business operations, and consistent with industry practice, we enter into numerous agreements with other parties to pursue business opportunities. Included in such activity are loans made to certain affiliated and non-affiliated companies. At September 30, 2019, significant loans to affiliated companies included $335 million in project financing to Qatar Liquefied Gas Company Limited (3) (QG3).

On our consolidated balance sheet, the long-term portion of these loans is included in the “Loans and advances—related parties” line, while the short-term portion is in the “Accounts and notes receivable—related parties” line.

Investment in Cenovus Energy

9 Months Ended

Sep. 30, 2019

Investment In Cenovus Energy [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note 7—Investment in Cenovus Energy

On May 17, 2017, we completed the sale of our 50 percent nonoperated interest in the FCCL Partnership, as well as the majority of our western Canada gas assets to Cenovus Energy. Consideration for the transaction included 208 million Cenovus Energy common shares, which, at closing, approximated 16.9 percent of issued and outstanding Cenovus common stock. The fair value and cost basis of our investment in 208 million Cenovus Energy common shares was $1.96 billion based on a price of $9.41 per share on the NYSE on the closing date.

Our investment on our consolidated balance sheet as of September 30, 2019, is carried at fair value of $1.95 billion, reflecting the closing price of Cenovus Energy shares on the NYSE of $9.38 per share on the last trading day of the quarter, an increase of $116 million from $1.84 billion at the end of the second quarter of 2019 and an increase of $489 million from $1.46 billion at year-end 2018. The increase in fair value represents the net unrealized gain recorded within the “Other income” line of our consolidated income statement in the first nine months of 2019 relating to the shares held at the reporting date. See Note 14—Fair Value Measurement, for additional information. Subject to market conditions, we intend to decrease our investment over time through market transactions, private agreements or otherwise.

Suspended Wells and Other Exploration Expense

9 Months Ended

Sep. 30, 2019

Suspended Wells [Abstract]

Suspended Wells

Note 8—Suspended Wells and Exploration Expenses

The capitalized cost of suspended wells at September 30, 2019, was $973 million, an increase of $117 million from $856 million at year-end 2018. No suspended wells were charged to dry hole expense during the first nine months of 2019 relating to exploratory well costs capitalized for a period greater than one year as of December 31, 2018.

In the third quarter of 2019, we recorded before-tax dry hole expenses of $98 million and a before-tax impairment of $141 million for the associated carrying value of capitalized undeveloped leasehold costs due to our decision to discontinue exploration activities in the Central Louisiana Austin Chalk trend. These charges are included in our Lower 48 segment and in the “Exploration expenses” line on our consolidated income statement.

Debt

9 Months Ended

Sep. 30, 2019

Debt [Abstract]

Debt

Note 9—Debt

Our revolving credit facility provides a total commitment of $6.0 billion and expires in May 2023. Our revolving credit facility may be used for direct bank borrowings, the issuance of letters of credit totaling up to $500 million, or as support for our commercial paper program. Our commercial paper program consists of the ConocoPhillips Company $6.0 billion program, primarily a funding source for short-term working capital needs. Commercial paper maturities are generally limited to 90 days.

We had no commercial paper outstanding at September 30, 2019 or December 31, 2018. We had no direct outstanding borrowings or letters of credit under the revolving credit facility at September 30, 2019 or

December 31, 2018. Since we had no commercial paper outstanding and had issued no letters of credit, we had access to $6.0 billion in borrowing capacity under our revolving credit facility at September 30, 2019.

At September 30, 2019, we had $283 million of certain variable rate demand bonds (VRDBs) outstanding with maturities ranging through 2035. The VRDBs are redeemable at the option of the bondholders on any business day. If they are ever redeemed, we intend to refinance on a long-term basis, therefore, the VRDBs are included in the “Long-term debt” line on our consolidated balance sheet.

Changes in Equity

9 Months Ended

Sep. 30, 2019

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Note 10—Changes in Equity

	Millions of Dollars
	Attributable to ConocoPhillips
	Common Stock
	Par Value		Capital in Excess of Par	Treasury Stock	Accum. Other Comprehensive Income (Loss)		Retained Earnings	Non-Controlling Interests	Total
For the three months ended September 30, 2019
Balances at June 30, 2019	$	18	46,922	(44,906)		(5,827)	36,769	98	33,074
Net income							3,056	15	3,071
Other comprehensive income						173			173
Dividends paid ($ 0.31 ) per common share							(341)		(341)
Repurchase of company common stock				(749)					(749)
Distributions to noncontrolling interests and other								(20)	(20)
Distributed under benefit plans			32						32
Other				(1)					(1)
Balances at September 30, 2019	$	18	46,954	(45,656)		(5,654)	39,484	93	35,239

For the nine months ended September 30, 2019
Balances at December 31, 2018	$	18	46,879	(42,905)		(6,063)	34,010	125	32,064
Net income							6,469	45	6,514
Other comprehensive income						449			449
Dividends paid ($ 0.92 ) per common share							(1,037)		(1,037)
Repurchase of company common stock				(2,751)					(2,751)
Distributions to noncontrolling interests and other								(80)	(80)
Distributed under benefit plans			75						75
Changes in Accounting Principles*						(40)	40		-
Other							2	3	5
Balances at September 30, 2019	$	18	46,954	(45,656)		(5,654)	39,484	93	35,239
*See Note 2—Changes in Accounting Principles for additional information.


	Millions of Dollars
	Attributable to ConocoPhillips
	Common Stock
	Par Value		Capital in Excess of Par	Treasury Stock		Accum. Other Comprehensive Income (Loss)	Retained Earnings	Non-Controlling Interests	Total
For the three months ended September 30, 2018
Balances at June 30, 2018	$	18	46,746	(41,052)		(5,637)	30,967	180	31,222
Net income							1,861	12	1,873
Other comprehensive income						195			195
Dividends paid ($ 0.29 ) per common share							(334)		(334)
Repurchase of company common stock				(927)					(927)
Distributions to noncontrolling interests and other								(63)	(63)
Distributed under benefit plans			112					.	112
Other							1		1
Balances at September 30, 2018	$	18	46,858	(41,979)		(5,442)	32,495	129	32,079

For the nine months ended September 30, 2018
Balances at December 31, 2017	$	18	46,622	(39,906)		(5,518)	29,391	194	30,801
Net income							4,389	38	4,427
Other comprehensive income						18			18
Dividends paid ($ 0.86 ) per common share							(1,009)		(1,009)
Repurchase of company common stock				(2,073)					(2,073)
Distributions to noncontrolling interests and other								(105)	(105)
Distributed under benefit plans			236						236
Changes in Accounting Principles*						58	(278)		(220)
Other							2	2	4
Balances at September 30, 2018	$	18	46,858	(41,979)		(5,442)	32,495	129	32,079
*Cumulative effect of the adoption of ASC Topic 606, “Revenue from Contracts with Customers,” and ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Liabilities,” at January 1, 2018.

Guarantees

9 Months Ended

Sep. 30, 2019

Guarantees [Abstract]

Guarantees

Note 11—Guarantees

At September 30, 2019, we were liable for certain contingent obligations under various contractual arrangements as described below. We recognize a liability, at inception, for the fair value of our obligation as a guarantor for newly issued or modified guarantees. Unless the carrying amount of the liability is noted below, we have not recognized a liability because the fair value of the obligation is immaterial. In addition, unless otherwise stated, we are not currently performing with any significance under the guarantee and expect future performance to be either immaterial or have only a remote chance of occurrence.

APLNG Guarantees

At September 30, 2019, we had outstanding multiple guarantees in connection with our 37.5 percent ownership interest in APLNG. The following is a description of the guarantees with values calculated utilizing September 2019 exchange rates:

During the third quarter of 2016, we issued a guarantee to facilitate the withdrawal of our pro-rata portion of the funds in a project finance reserve account. We estimate the remaining term of this guarantee is 11 years. Our maximum exposure under this guarantee is approximately $170 million and may become payable if an enforcement action is commenced by the project finance lenders against APLNG. At September 30, 2019, the carrying value of this guarantee was approximately $14 million. For additional information, see Note 6—Investments, Loans and Long-Term Receivables.

In conjunction with our original purchase of an ownership interest in APLNG from Origin Energy in October 2008, we agreed to reimburse Origin Energy for our share of the existing contingent liability arising under guarantees of an existing obligation of APLNG to deliver natural gas under several sales agreements with remaining terms of up to 23 years. Our maximum potential liability for future payments, or cost of volume delivery, under these guarantees is estimated to be $720 million ($1.3 billion in the event of intentional or reckless breach), and would become payable if APLNG fails to meet its obligations under these agreements and the obligations cannot otherwise be mitigated. Future payments are considered unlikely, as the payments, or cost of volume delivery, would only be triggered if APLNG does not have enough natural gas to meet these sales commitments and if the co-venturers do not make necessary equity contributions into APLNG.

We have guaranteed the performance of APLNG with regard to certain other contracts executed in connection with the project’s continued development. The guarantees have remaining terms of up to 26 years or the life of the venture. Our maximum potential amount of future payments related to these guarantees is approximately $130 million and would become payable if APLNG does not perform.

Other Guarantees

We have other guarantees with maximum future potential payment amounts totaling approximately $800 million, which consist primarily of guarantees of the residual value of leased office buildings, guarantees of the residual value of corporate aircraft, and a guarantee for our portion of a joint venture’s project finance reserve accounts. These guarantees have remaining terms of up to three years and would become payable if, upon sale, certain asset values are lower than guaranteed amounts, business conditions decline at guaranteed entities, or as a result of nonperformance of contractual terms by guaranteed parties.

In conjunction with the disposition of our two U.K. subsidiaries to Chrysaor E&P Limited, we will temporarily continue to support various guarantees and letters of credit which were provided for the benefit of entities that are now affiliates of Chrysaor E&P Limited. Our maximum potential payment exposure under these obligations is approximately $148 million. Chrysaor E&P Limited has agreed to fully indemnify ConocoPhillips for any losses suffered by us related to these obligations.

Indemnifications

Over the years, we have entered into agreements to sell ownership interests in certain corporations, joint ventures and assets that gave rise to qualifying indemnifications. These agreements include indemnifications

for taxes, environmental liabilities, employee claims and litigation. The terms of these indemnifications vary greatly. The majority of these indemnifications are related to environmental issues, the term is generally indefinite and the maximum amount of future payments is generally unlimited. The carrying amount recorded for these indemnifications at September 30, 2019, was approximately $90 million. We amortize the indemnification liability over the relevant time period, if one exists, based on the facts and circumstances surrounding each type of indemnity. In cases where the indemnification term is indefinite, we will reverse the liability when we have information the liability is essentially relieved or amortize the liability over an appropriate time period as the fair value of our indemnification exposure declines. Although it is reasonably possible future payments may exceed amounts recorded, due to the nature of the indemnifications, it is not possible to make a reasonable estimate of the maximum potential amount of future payments. Included in the recorded carrying amount at September 30, 2019, were approximately $30 million of environmental accruals for known contamination that are included in the “Asset retirement obligations and accrued environmental costs” line on our consolidated balance sheet. For additional information about environmental liabilities, see Note 12—Contingencies and Commitments.

Contingencies and Commitments

9 Months Ended

Sep. 30, 2019

Contingencies and Commitments [Abstract]

Contingencies and Commitments

Note 12—Contingencies and Commitments

A number of lawsuits involving a variety of claims arising in the ordinary course of business have been filed against ConocoPhillips. We also may be required to remove or mitigate the effects on the environment of the placement, storage, disposal or release of certain chemical, mineral and petroleum substances at various active and inactive sites. We regularly assess the need for accounting recognition or disclosure of these contingencies. In the case of all known contingencies (other than those related to income taxes), we accrue a liability when the loss is probable and the amount is reasonably estimable. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. We do not reduce these liabilities for potential insurance or third-party recoveries. If applicable, we accrue receivables for probable insurance or other third-party recoveries. With respect to income tax-related contingencies, we use a cumulative probability-weighted loss accrual in cases where sustaining a tax position is less than certain.

Based on currently available information, we believe it is remote that future costs related to known contingent liability exposures will exceed current accruals by an amount that would have a material adverse impact on our consolidated financial statements. As we learn new facts concerning contingencies, we reassess our position both with respect to accrued liabilities and other potential exposures. Estimates particularly sensitive to future changes include contingent liabilities recorded for environmental remediation, tax and legal matters. Estimated future environmental remediation costs are subject to change due to such factors as the uncertain magnitude of cleanup costs, the unknown time and extent of such remedial actions that may be required, and the determination of our liability in proportion to that of other responsible parties. Estimated future costs related to tax and legal matters are subject to change as events evolve and as additional information becomes available during the administrative and litigation processes.

Environmental

We are subject to international, federal, state and local environmental laws and regulations. When we prepare our consolidated financial statements, we record accruals for environmental liabilities based on management’s best estimates, using all information that is available at the time. We measure estimates and base liabilities on currently available facts, existing technology, and presently enacted laws and regulations, taking into account stakeholder and business considerations. When measuring environmental liabilities, we also consider our prior experience in remediation of contaminated sites, other companies’ cleanup experience, and data released by the U.S. EPA or other organizations. We consider unasserted claims in our determination of environmental liabilities, and we accrue them in the period they are both probable and reasonably estimable.

Although liability of those potentially responsible for environmental remediation costs is generally joint and several for federal sites and frequently so for other sites, we are usually only one of many companies cited at a particular site. Due to the joint and several liabilities, we could be responsible for all cleanup costs related to any site at which we have been designated as a potentially responsible party. We have been successful to date

in sharing cleanup costs with other financially sound companies. Many of the sites at which we are potentially responsible are still under investigation by the EPA or the agency concerned. Prior to actual cleanup, those potentially responsible normally assess the site conditions, apportion responsibility and determine the appropriate remediation. In some instances, we may have no liability or may attain a settlement of liability. Where it appears that other potentially responsible parties may be financially unable to bear their proportional share, we consider this inability in estimating our potential liability, and we adjust our accruals accordingly. As a result of various acquisitions in the past, we assumed certain environmental obligations. Some of these environmental obligations are mitigated by indemnifications made by others for our benefit, and some of the indemnifications are subject to dollar limits and time limits.

We are currently participating in environmental assessments and cleanups at numerous federal Superfund and comparable state and international sites. After an assessment of environmental exposures for cleanup and other costs, we make accruals on an undiscounted basis (except those acquired in a purchase business combination, which we record on a discounted basis) for planned investigation and remediation activities for sites where it is probable future costs will be incurred and these costs can be reasonably estimated. We have not reduced these accruals for possible insurance recoveries.

At September 30, 2019, our consolidated balance sheet included a total environmental accrual of $163 million, compared with $178 million at December 31, 2018, for remediation activities in the United States and Canada. We expect to incur a substantial amount of these expenditures within the next 30 years. In the future, we may be involved in additional environmental assessments, cleanups and proceedings.

Legal Proceedings

We are subject to various lawsuits and claims including but not limited to matters involving oil and gas royalty and severance tax payments, gas measurement and valuation methods, contract disputes, environmental damages, personal injury, and property damage. Our primary exposures for such matters relate to alleged royalty and tax underpayments on certain federal, state and privately owned properties and claims of alleged environmental contamination from historic operations. We will continue to defend ourselves vigorously in these matters.

Our legal organization applies its knowledge, experience and professional judgment to the specific characteristics of our cases, employing a litigation management process to manage and monitor the legal proceedings against us. Our process facilitates the early evaluation and quantification of potential exposures in individual cases. This process also enables us to track those cases that have been scheduled for trial and/or mediation. Based on professional judgment and experience in using these litigation management tools and available information about current developments in all our cases, our legal organization regularly assesses the adequacy of current accruals and determines if adjustment of existing accruals, or establishment of new accruals, is required.

Other Contingencies

We have contingent liabilities resulting from throughput agreements with pipeline and processing companies not associated with financing arrangements. Under these agreements, we may be required to provide any such company with additional funds through advances and penalties for fees related to throughput capacity not utilized. In addition, at September 30, 2019, we had performance obligations secured by letters of credit of $221 million (issued as direct bank letters of credit) related to various purchase commitments for materials, supplies, commercial activities and services incident to the ordinary conduct of business.

In 2007, ConocoPhillips was unable to reach agreement with respect to the empresa mixta structure mandated by the Venezuelan government’s Nationalization Decree. As a result, Venezuela’s national oil company, Petróleos de Venezuela, S.A. (PDVSA), or its affiliates, directly assumed control over ConocoPhillips’ interests in the Petrozuata and Hamaca heavy oil ventures and the offshore Corocoro development project. In response to this expropriation, ConocoPhillips initiated international arbitration on November 2, 2007, with the ICSID. On September 3, 2013, an ICSID arbitration tribunal held that Venezuela unlawfully expropriated ConocoPhillips’ significant oil investments in June 2007. On January 17, 2017, the Tribunal reconfirmed the decision that the expropriation was unlawful. In March 2019, the Tribunal unanimously ordered the

government of Venezuela to pay ConocoPhillips approximately $8.7 billion in compensation for the government’s unlawful expropriation of the company’s investments in Venezuela in 2007. ConocoPhillips has filed a request for recognition of the award in several jurisdictions. On August 29, 2019, the ICSID Tribunal issued a decision rectifying the award and reducing it by approximately $227 million. The award now stands at $8.5 billion plus interest. The government of Venezuela has announced that it intends to seek annulment of the award.

In 2014, ConocoPhillips filed a separate and independent arbitration under the rules of the ICC against PDVSA under the contracts that had established the Petrozuata and Hamaca projects. The ICC Tribunal issued an award in April 2018, finding that PDVSA owed ConocoPhillips approximately $2 billion under their agreements in connection with the expropriation of the projects and other pre-expropriation fiscal measures. In August 2018, ConocoPhillips entered into a settlement with PDVSA to recover the full amount of this ICC award, plus interest through the payment period, including initial payments totaling approximately $500 million within a period of 90 days from the time of signing of the settlement agreement. The balance of the settlement is to be paid quarterly over a period of four and a half years. To date, ConocoPhillips has received approximately $754 million. Per the settlement, PDVSA recognized the ICC award as a judgment in various jurisdictions, and ConocoPhillips agreed to suspend its legal enforcement actions. The company is taking steps to secure payment of an outstanding amount of approximately $12 million from the initial payment obligation. ConocoPhillips has ensured that the settlement and any actions thereof meet all appropriate U.S. regulatory requirements, including those related to any applicable sanctions imposed by the U.S. against Venezuela.

In 2016, ConocoPhillips filed a separate and independent arbitration under the rules of the ICC against PDVSA under the contracts that had established the Corocoro project. On August 2, 2019, the ICC Tribunal awarded ConocoPhillips approximately $55 million under the Corocoro contracts.

In February 2017, the ICSID Tribunal unanimously awarded Burlington Resources, Inc., a wholly owned subsidiary of ConocoPhillips, $380 million for Ecuador’s unlawful expropriation of Burlington’s investment in Blocks 7 and 21, in breach of the U.S.-Ecuador Bilateral Investment Treaty. The tribunal also issued a separate decision finding Ecuador to be entitled to $42 million for environmental and infrastructure counterclaims. In December 2017, Burlington and Ecuador entered into a settlement agreement by which Ecuador paid Burlington $337 million in two installments. The first installment of $75 million was paid in December 2017, and the second installment of $262 million was paid in April 2018. The settlement included an offset for the counterclaims decision, of which Burlington is entitled to a contribution from Perenco Ecuador Limited, its co-venturer and consortium operator, pursuant to a joint and several liability provision in the JOA. In September 2019, a separate ICSID Tribunal issued an award in the Perenco arbitration, ordering Perenco to pay an additional $54 million to Ecuador for its environmental counterclaim. Burlington and Perenco will reconcile their shares of the environmental and infrastructure counterclaims according to their JOA participating interests, and we expect Burlington’s share will be immaterial.

In June 2017, FAR Ltd. initiated arbitration before the ICC against ConocoPhillips Senegal B.V., now Woodside Senegal B.V., in connection with the sale of ConocoPhillips Senegal B.V. to Woodside Energy Holdings (Senegal) Limited in 2016. This arbitration is ongoing.

In late 2017, ConocoPhillips (U.K.) Limited (CPUKL) initiated United Nations Commission on International Trade and Law (UNCITRAL) arbitration against Vietnam in accordance with the U.K.-Vietnam Bilateral Investment Treaty relating to a tax dispute arising from the 2012 sale of ConocoPhillips (U.K.) Cuu Long Limited and ConocoPhillips (U.K.) Gama Limited. While the arbitration remains pending, the parties reached an agreement in principle in October 2019 to amicably resolve this dispute.

In 2017 and 2018, cities, counties, and a state government in California, New York, Washington, Rhode Island and Maryland, as well as the Pacific Coast Federation of Fishermen’s Association, Inc., have filed lawsuits against oil and gas companies, including ConocoPhillips, seeking compensatory damages and equitable relief to abate alleged climate change impacts. ConocoPhillips is vigorously defending against these lawsuits. The lawsuits brought by the Cities of San Francisco, Oakland and New York have been dismissed by the district

courts and appeals are pending. Lawsuits filed by other cities and counties in California and Washington are currently stayed pending resolution of the appeals brought by the Cities of San Francisco and Oakland to the U.S. Court of Appeals for the Ninth Circuit. Rulings in lawsuits filed in Maryland and Rhode Island, on the issue of whether the matters should proceed in state or federal court, are on appeal to the U.S. Court of Appeals for the Fourth Circuit and First Circuit, respectively.

Several Louisiana parishes and individual landowners have filed lawsuits against oil and gas companies, including ConocoPhillips, seeking compensatory damages in connection with historical oil and gas operations in Louisiana. All parish lawsuits are stayed pending an appeal to the Fifth Circuit Court of Appeals on the issue of whether they will proceed in federal or state court. ConocoPhillips will vigorously defend against these lawsuits.

Derivative and Financial Instruments

9 Months Ended

Sep. 30, 2019

Derivative and Financial Instruments [Abstract]

Derivative and Financial Instruments

Note 13—Derivative and Financial Instruments

Derivative Instruments

We use futures, forwards, swaps and options in various markets to meet our customer needs and capture market opportunities. Our commodity business primarily consists of natural gas, crude oil, bitumen, LNG and NGLs.

Our derivative instruments are held at fair value on our consolidated balance sheet. Where these balances have the right of setoff, they are presented on a net basis. Related cash flows are recorded as operating activities on our consolidated statement of cash flows. On our consolidated income statement, realized and unrealized gains and losses are recognized either on a gross basis if directly related to our physical business or a net basis if held for trading. Gains and losses related to contracts that meet and are designated with the NPNS exception are recognized upon settlement. We generally apply this exception to eligible crude contracts. We do not use hedge accounting for our commodity derivatives.

The following table presents the gross fair values of our commodity derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet:

	Millions of Dollars
	September 30		December 31
	2019		2018
Assets
Prepaid expenses and other current assets	$	224	410
Other assets		39	40
Liabilities
Other accruals		236	370
Other liabilities and deferred credits		31	30

The gains (losses) from commodity derivatives incurred, and the line items where they appear on our consolidated income statement were:

	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
	2019		2018	2019	2018

Sales and other operating revenues	$	4	(29)	68	(6)
Other income		3	3	4	12
Purchased commodities		(9)	18	(60)	15

The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts:

	Open Position
	Long/(Short)
	September 30		December 31
	2019		2018
Commodity
Natural gas and power (billions of cubic feet equivalent)
Fixed price		(17)	(17)
Basis		(28)	(1)

Foreign Currency Exchange Derivatives

We have foreign currency exchange rate risk resulting from international operations. Our foreign currency exchange derivative activity primarily relates to managing our cash-related foreign currency exchange rate exposures, such as firm commitments for capital programs or local currency tax payments, dividends and cash returns from net investments in foreign affiliates, and investments in equity securities. We do not elect hedge accounting on our foreign currency exchange derivatives.

The following table presents the gross fair values of our foreign currency exchange derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet:

	Millions of Dollars
	September 30		December 31
	2019		2018
Assets
Prepaid expenses and other current assets	$	1	7
Liabilities
Other accruals		4	6
Other liabilities and deferred credits		5	-

The (gains) losses from foreign currency exchange derivatives incurred, and the line item where they appear on our consolidated income statement were:

	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
	2019		2018	2019	2018

Foreign currency transaction (gains) losses	$	(24)	(2)	(3)	(5)

We had the following net notional position of outstanding foreign currency exchange derivatives:

	In Millions
	Notional Currency
		September 30	December 31
	2019		2018
Foreign Currency Exchange Derivatives
Buy U.S. dollar, sell Norwegian krone	USD	18	-
Sell British pound, buy Euro	GBP	1	-
Sell U.S. dollar, buy British pound	USD	-	805
Sell British pound, buy other currencies*	GBP	-	21
Sell Canadian dollar, buy U.S. dollar	CAD	1,347	1,242
*Primarily euro and Norwegian krone.

In December 2017, we entered into foreign exchange zero cost collars buying the right to sell $1.25 billion CAD at $0.707 CAD and selling the right to buy $1.25 billion CAD at $0.842 CAD against the U.S. dollar. The collar expired during the second quarter of 2019 and we entered into new foreign currency exchange forward contracts to sell $1.35 billion CAD at $0.748 CAD against the U.S. dollar.

Financial Instruments

We invest excess cash in financial instruments with maturities based on our cash forecasts for the various currency pools we manage. The maturities of these investments may from time to time extend beyond 90 days. The types of financial instruments in which we currently invest include:

Time deposits: Interest bearing deposits placed with approved financial institutions.

Commercial paper: Unsecured promissory notes issued by a corporation, commercial bank or government agency purchased at a discount to mature at par.

Government or government agency obligations: Short-term securities issued by the U.S. government or U.S. government agencies.

These financial instruments appear in the “Cash and cash equivalents” line on our consolidated balance sheet if the maturities at the time we made the investments were 90 days or less; otherwise, these financial instruments are included in the “Short-term investments” line on our consolidated balance sheet.

	Millions of Dollars
	Carrying Amount
	Cash and Cash Equivalents			Short-Term Investments
	September 30		December 31	September 30	December 31
	2019		2018	2019	2018

Cash	$	651	876
Time deposits
Remaining maturities from 1 to 90 days		3,650	3,509	384	-
Remaining maturities more than 90 days				450	-
Commercial paper
Remaining maturities from 1 to 90 days		1,550	229	74	248
Government obligations
Remaining maturities from 1 to 90 days		1,342	1,301	-	-
	$	7,193	5,915	908	248

Credit Risk

Financial instruments potentially exposed to concentrations of credit risk consist primarily of cash equivalents, short-term investments, OTC derivative contracts and trade receivables. Our cash equivalents and short-term investments are placed in high-quality commercial paper, government money market funds, government debt securities and time deposits with major international banks and financial institutions.

The credit risk from our OTC derivative contracts, such as forwards, swaps and options, derives from the counterparty to the transaction. Individual counterparty exposure is managed within predetermined credit limits and includes the use of cash-call margins when appropriate, thereby reducing the risk of significant nonperformance. We also use futures, swaps and option contracts that have a negligible credit risk because these trades are cleared with an exchange clearinghouse and subject to mandatory margin requirements until settled; however, we are exposed to the credit risk of those exchange brokers for receivables arising from daily margin cash calls, as well as for cash deposited to meet initial margin requirements.

Our trade receivables result primarily from our petroleum operations and reflect a broad national and international customer base, which limits our exposure to concentrations of credit risk. The majority of these receivables have payment terms of 30 days or less, and we continually monitor this exposure and the creditworthiness of the counterparties. We do not generally require collateral to limit the exposure to loss; however, we will sometimes use letters of credit, prepayments and master netting arrangements to mitigate credit risk with counterparties that both buy from and sell to us, as these agreements permit the amounts owed by us or owed to others to be offset against amounts due to us.

Certain of our derivative instruments contain provisions that require us to post collateral if the derivative exposure exceeds a threshold amount. We have contracts with fixed threshold amounts and other contracts with variable threshold amounts that are contingent on our credit rating. The variable threshold amounts typically decline for lower credit ratings, while both the variable and fixed threshold amounts typically revert to zero if we fall below investment grade. Cash is the primary collateral in all contracts; however, many also permit us to post letters of credit as collateral, such as transactions administered through the New York Mercantile Exchange.

The aggregate fair value of all derivative instruments with such credit risk-related contingent features that were in a liability position on September 30, 2019 and December 31, 2018, was $47 million and $62 million, respectively. For these instruments, no collateral was posted as of September 30, 2019 or December 31, 2018.

If our credit rating had been downgraded below investment grade on September 30, 2019, we would be required to post $45 million of additional collateral, either with cash or letters of credit.

Fair Value Measurement

9 Months Ended

Sep. 30, 2019

Fair Value Measurement [Abstract]

Fair Value Measurement

Note 14—Fair Value Measurement

We carry a portion of our assets and liabilities at fair value that are measured at a reporting date using an exit price (i.e., the price that would be received to sell an asset or paid to transfer a liability) and disclosed according to the quality of valuation inputs under the following hierarchy:

Level 1: Quoted prices (unadjusted) in an active market for identical assets or liabilities.

Level 2: Inputs other than quoted prices that are directly or indirectly observable.

Level 3: Unobservable inputs that are significant to the fair value of assets or liabilities.

The classification of an asset or liability is based on the lowest level of input significant to its fair value. Those that are initially classified as Level 3 are subsequently reported as Level 2 when the fair value derived from unobservable inputs is inconsequential to the overall fair value, or if corroborated market data becomes available. Assets and liabilities initially reported as Level 2 are subsequently reported as Level 3 if corroborated market data is no longer available. Transfers occur at the end of the reporting period. There were no material transfers between levels during 2019 or 2018.

Recurring Fair Value Measurement

Financial assets and liabilities reported at fair value on a recurring basis primarily include our investment in Cenovus Energy shares and commodity derivatives. Level 1 derivative assets and liabilities primarily represent exchange-traded futures and options that are valued using unadjusted prices available from the underlying exchange. Level 1 also includes our investment in common shares of Cenovus Energy, which is valued using quotes for shares on the NYSE. Level 2 derivative assets and liabilities primarily represent OTC swaps, options and forward purchase and sale contracts that are valued using adjusted exchange prices, prices provided by brokers or pricing service companies that are all corroborated by market data. Level 3 derivative assets and liabilities consist of OTC swaps, options and forward purchase and sale contracts where a significant portion of fair value is calculated from underlying market data that is not readily available. The derived value uses industry standard methodologies that may consider the historical relationships among various commodities, modeled market prices, time value, volatility factors and other relevant economic measures. The use of these inputs results in management’s best estimate of fair value. Level 3 activity was not material for all periods presented.

The following table summarizes the fair value hierarchy for gross financial assets and liabilities (i.e., unadjusted where the right of setoff exists for commodity derivatives accounted for at fair value on a recurring basis):

	Millions of Dollars
	September 30, 2019					December 31, 2018
	Level 1		Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Assets
Investment in Cenovus Energy	$	1,951	-	-	1,951	1,462	-	-	1,462
Commodity derivatives		153	86	24	263	236	181	33	450
Total assets	$	2,104	86	24	2,214	1,698	181	33	1,912

Liabilities
Commodity derivatives	$	169	82	16	267	225	145	30	400
Total liabilities	$	169	82	16	267	225	145	30	400

The following table summarizes those commodity derivative balances subject to the right of setoff as
presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for
multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of setoff exists.

	Millions of Dollars
				Amounts Subject to Right of Setoff
	Gross		Amounts Not		Gross	Net
	Amounts		Subject to	Gross	Amounts	Amounts	Cash	Net
	Recognized		Right of Setoff	Amounts	Offset	Presented	Collateral	Amounts
September 30, 2019
Assets	$	263	7	256	171	85	-	85
Liabilities		267	-	267	171	96	21	75

December 31, 2018
Assets	$	450	9	441	280	161	-	161
Liabilities		400	4	396	280	116	10	106


At September 30, 2019 and December 31, 2018, we did not present any amounts gross on our consolidated balance sheet where we had the right of setoff.

Non-Recurring Fair Value Measurement
The following table summarizes the fair value hierarchy by major category and date of remeasurement for assets accounted for at fair value on a non-recurring basis:

	Millions of Dollars
			Fair Value Measurements Using
	Fair Value		Level 1 Inputs	Level 2 Inputs	Before-Tax Loss
Equity method investments
March 31, 2019	$	171	171	-	60
May 31, 2019		30	-	30	95

During the first quarter of 2019, the carrying values of our equity method investments in the Golden Pass LNG Terminal and Golden Pass Pipeline were written down to fair value. The fair values were determined by negotiated selling prices. For additional information, see Note 5—Asset Dispositions.

During the second quarter of 2019, our equity method investment in MWCC was determined to have a fair value below its carrying value, and the impairment was considered to be other than temporary. For additional information, see Note 3—Variable Interest Entities.

Reported Fair Values of Financial Instruments

We used the following methods and assumptions to estimate the fair value of financial instruments:

Cash and cash equivalents and short-term investments: The carrying amount reported on our consolidated balance sheet approximates fair value.

Accounts and notes receivable (including long-term and related parties): The carrying amount reported on our consolidated balance sheet approximates fair value. The valuation technique and methods used to estimate the fair value of the current portion of fixed-rate related party loans is consistent with Loans and advances—related parties.

Investment in Cenovus Energy shares: See Note 7—Investment in Cenovus Energy, for a discussion of the carrying value and fair value of our investment in Cenovus Energy shares.

Loans and advances—related parties: The carrying amount of floating-rate loans approximates fair value. The fair value of fixed-rate loan activity is measured using market observable data and is categorized as Level 2 in the fair value hierarchy. See Note 6—Investments, Loans and Long-Term Receivables, for additional information.

Accounts payable (including related parties) and floating-rate debt: The carrying amount of accounts payable and floating-rate debt reported on our consolidated balance sheet approximates fair value.

Fixed-rate debt: The estimated fair value of fixed-rate debt is measured using prices available from a pricing service that is corroborated by market data; therefore, these liabilities are categorized as Level 2 in the fair value hierarchy.

The following table summarizes the net fair value of financial instruments (i.e., adjusted where the right of setoff exists for commodity derivatives):

	Millions of Dollars
	Carrying Amount			Fair Value
	September 30		December 31	September 30	December 31
	2019		2018	2019	2018
Financial assets
Investment in Cenovus Energy	$	1,951	1,462	1,951	1,462
Commodity derivatives		92	170	92	170
Total loans and advances—related parties		336	468	336	468
Financial liabilities
Total debt, excluding finance (capital) leases		14,179	14,191	18,131	16,147
Commodity derivatives		75	110	75	110

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Non-Mineral Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

Note 15—Non-Mineral Leases

The company primarily leases office buildings and drilling equipment, as well as ocean transport vessels, tugboats, corporate aircraft, and other facilities and equipment. Certain leases include escalation clauses for adjusting rental payments to reflect changes in price indices and other leases include payment provisions that vary based on the nature of usage of the leased asset. Additionally, the company has executed certain leases that provide it with the option to extend or renew the term of the lease, terminate the lease prior to the end of the lease term, or purchase the leased asset as of the end of the lease term. In other cases, the company has executed lease agreements that require it to guarantee the residual value of certain leased office buildings. For additional information about guarantees, see Note 11—Guarantees. There are no significant restrictions imposed on us by the lease agreements with regard to dividends, asset dispositions or borrowing ability.

Certain arrangements may contain both lease and non-lease components and we determine if an arrangement is or contains a lease at contract inception. Only the lease components of these contractual arrangements are subject to the provisions of ASC Topic 842, and any non-lease components are subject to other applicable accounting guidance; however,

we have elected to adopt the optional practical expedient not to separate lease components apart from non-lease components for accounting purposes. This policy election has been adopted for each of the company’s leased asset classes existing as of the effective date and subject to the transition provisions of ASC Topic 842 and will be applied to all new or modified leases executed on or after January 1, 2019. For contractual arrangements executed in subsequent periods involving a new leased asset class, the company will determine at contract inception whether it will apply the optional practical expedient to the new leased asset class.

Leases are evaluated for classification as operating or finance leases at the commencement date of the lease and right-of-use assets and corresponding liabilities are recognized on our consolidated balance sheet based on the present value of future lease payments relating to the use of the underlying asset during the lease term. Future lease payments include variable lease payments that depend upon an index or rate using the index or rate at the commencement date and probable amounts owed under residual value guarantees. The amount of future lease payments may be increased to include additional payments related to lease extension, termination, and/or purchase options when the company has determined, at or subsequent to lease commencement, generally due to limited asset availability or operating commitments, it is reasonably certain of exercising such options. We use our incremental borrowing rate as the discount rate in determining the present value of future lease payments, unless the interest rate implicit in the lease arrangement is readily determinable. Lease payments that vary subsequent to the commencement date based on future usage levels, the nature of leased asset activities, or certain other contingencies are not included in the measurement of lease right-of-use assets and corresponding liabilities. We have elected not to record assets and liabilities on our consolidated balance sheet for lease arrangements with terms of 12 months or less.

We often enter into leasing arrangements acting in the capacity as operator for and/or on behalf of certain oil and gas joint ventures of undivided interests. If the lease arrangement can be legally enforced only against us as operator and there is no separate arrangement to sublease the underlying leased asset to our coventurers, we recognize at lease commencement a right-of-use asset and corresponding lease liability on our consolidated balance sheet on a gross basis. While we record lease costs on a gross basis in our consolidated income statement and statement of cash flows, such costs are offset by the reimbursement we receive from our coventurers for their share of the lease cost as the underlying leased asset is utilized in joint venture activities. As a result, lease cost is presented in our consolidated income statement and statement of cash flows on a proportional basis. If we are a nonoperating coventurer, we recognize a right-of-use asset and corresponding lease liability only if we were a specified contractual party to the lease arrangement and the arrangement could be legally enforced against us. In this circumstance, we would recognize both the right-of-use asset and corresponding lease liability on our consolidated balance sheet on a proportional basis consistent with our undivided interest ownership in the related joint venture.

The company has historically recorded certain finance leases executed by investee companies accounted for under the proportionate consolidation method of accounting on its consolidated balance sheet on a proportional basis consistent with its ownership interest in the investee company. In addition, the company has historically recorded finance lease assets and liabilities associated with certain oil and gas joint ventures on a proportional basis pursuant to accounting guidance applicable prior to January 1, 2019. As of December 31, 2018, $420 million of finance lease assets (net of accumulated DD&A) and $688 million of finance lease liabilities were recorded on our consolidated balance sheet associated with these leases. In accordance with the transition provisions of ASC Topic 842, and since we have elected to adopt the package of optional transition-related practical expedients, the historical accounting treatment for these leases has been carried forward and is subject to reconsideration upon the modification or other required reassessment of the arrangements prior to lease term expiration.

In connection with our adoption of ASC Topic 842, we have recorded on our consolidated balance sheet $57 million of operating leases executed by investee companies accounted for under the proportionate consolidation method of accounting on a proportional basis consistent with our ownership interest in the investee company.

The following tables summarize the finance leases amounts that were reflected on our consolidated balance sheet as of December 31, 2018, the operating leases impact of adopting ASC Topic 842, and the right-of-use asset and lease liability balances reflected for both operating and finance leases on our consolidated balance sheet as of September 30, 2019:

		Millions of Dollars
		Carrying Amount
		Operating Leases		Finance Leases
Amounts recognized in line items in our Consolidated
Balance Sheet upon adoption of ASC Topic 842

Right-of-Use Assets
Properties, plants and equipment
Gross			$	1,044
Accumulated depreciation, depletion and amortization				(550)
Net properties, plants and equipment as of December 31, 2018			$	494

Adoption of ASC Topic 842 as of January 1, 2019	$	998

Lease Liabilities
Short-term debt			$	79
Long-term debt				698
Total finance leases debt as of December 31, 2018			$	777

Adoption of ASC Topic 842 as of January 1, 2019	$	998

Amounts recognized in line items in our Consolidated
Balance Sheet at September 30, 2019

Right-of-Use Assets
Properties, plants and equipment
Gross			$	1,069
Accumulated depreciation, depletion and amortization				(634)
Net properties, plants and equipment^*			$	435
Other assets^**	$	805

* Includes proportionately consolidated finance lease assets (net of accumulated depreciation, depletion and amortization) of $359 million. **As a result of the sale of two ConocoPhillips U.K. subsidiaries, right-of-use assets decreased approximately $0.2 billion in the third quarter of 2019. See Note 5–Asset Dispositions for additional information.

		Millions of Dollars
		Carrying Amount
		Operating Leases		Finance Leases
Lease Liabilities
Short-term debt^*			$	86
Other accruals	$	249
Long-term debt^*				656
Other liabilities and deferred credits		556
Total lease liabilities^**	$	805		742

*Short-term debt and long-term debt include proportionately consolidated finance lease liabilities of $55 million and $595 million, respectively. **As a result of the sale of two ConocoPhillips U.K. subsidiaries, lease liabilities decreased approximately $0.2 billion in the third quarter of 2019. See Note 5–Asset Dispositions for additional information.

The following table summarizes our lease costs:
	Millions of Dollars
	Three Months Ended		Nine Months Ended
	September 30, 2019		September 30, 2019
Lease Cost^*
Operating lease cost	$	99		265
Finance lease cost
Amortization of right-of-use assets		27		84
Interest on lease liabilities		9		28
Short-term lease cost^**		26		57
Total lease cost^***	$	161		434

*The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers.

**Short-term leases are not recorded on our consolidated balance sheet. Our future short-term lease commitments amount to $72 million, of

which $41 million is related to leases whose terms have not yet commenced as of September 30, 2019.

***Variable lease cost and sublease income are immaterial for the periods presented and therefore are not included in the table above.

The following table summarizes the lease terms and discount rates:
		September 30, 2019
Lease Term and Discount Rate
Weighted-average term (years)
Operating leases		5.77
Finance leases		8.91

Weighted-average discount rate (percent)
Operating leases		3.33
Finance leases		5.61


The following table summarizes other lease information:

		Millions of Dollars
		Nine Months Ended
		September 30, 2019
Other Information^*
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	152
Operating cash flows from finance leases		29
Financing cash flows from finance leases		59

Right-of-use assets obtained in exchange for operating lease liabilities	$	300
Right-of-use assets obtained in exchange for finance lease liabilities		26
*The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers. In addition, pursuant to other applicable accounting guidance, lease payments made in connection with preparing another asset for its intended use are reported in the "Cash Flows From Investing Activities" section of our consolidated statement of cash flows.


The following table summarizes future lease payments for operating and finance leases at September 30, 2019:

		Millions of Dollars
		Operating Leases	Finance Leases
Maturity of Lease Liabilities
2019	$	77	31
2020		252	120
2021		190	103
2022		105	102
2023		69	88
Remaining years		195	465
Total^*		888	909
Less: portion representing imputed interest		(83)	(167)
Total lease liabilities	$	805	742
*Future lease payments for operating and finance leases commencing on or after January 1, 2019, also include payments related to non-lease components in accordance with our election to adopt the optional practical expedient not to separate lease components apart from non-lease components for accounting purposes. In addition, future payments related to operating and finance leases proportionately consolidated by the company have been included in the table on a proportionate basis consistent with our respective ownership interest in the underlying investee company or oil and gas venture.


At December 31, 2018, future undiscounted minimum rental payments due under noncancelable operating
leases pursuant to ASC Topic 840 were:

		Millions of Dollars

2019	$	248
2020		425
2021		136
2022		319
2023		54
Remaining years		212
Total		1,394
Less: income from subleases		(7)
Net minimum operating lease payments	$	1,387

At December 31, 2018, future minimum payments due under finance (capital) leases pursuant to
ASC Topic 840 were:

		Millions of Dollars

2019	$	118
2020		116
2021		100
2022		98
2023		87
Remaining years		453
Total		972
Less: portion representing imputed interest		(195)
Capital lease obligations	$	777

Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

Note 16—Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss in the equity section of our consolidated balance sheet included:

	Millions of Dollars
	Defined Benefit Plans		Foreign Currency Translation	Accumulated Other Comprehensive Income (Loss)

December 31, 2018	$	(361)	(5,702)	(6,063)
Cumulative effect of adopting ASU No. 2018-02*		(40)	-	(40)
Other comprehensive income (loss)		(42)	491	449
September 30, 2019	$	(443)	(5,211)	(5,654)
*See Note 2—Changes in Accounting Principles for additional information.

In the third quarter of 2019, we recognized $483 million of foreign currency translation adjustments related to the completion of our sale of two ConocoPhillips U.K. subsidiaries. For additional information related to this disposition, see Note 5—Asset Dispositions.

There were no items within accumulated other comprehensive loss related to noncontrolling interests.

The following table summarizes reclassifications out of accumulated other comprehensive loss and into comprehensive income:

	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
	2019		2018	2019	2018

Defined benefit plans	$	36	17	66	155

The above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of $12 million and $6 million for the three months ended September 30, 2019 and September 30, 2018, respectively, and $22 million and $43 million for the nine-month periods ended September 30, 2019 and September 30, 2018, respectively. See Note 18—Employee Benefit Plans, for additional information.

Cash Flow Information

9 Months Ended

Sep. 30, 2019

Cash Flow Information [Abstract]

Cash Flow Information

Note 17—Cash Flow Information
	Millions of Dollars
	Nine Months Ended
	September 30
		2019	2018
Cash Payments
Interest	$	614	584
Income taxes		2,210	1,927

Net Sales (Purchases) of Short-Term Investments
Short-term investments purchased	$	(1,894)	(1,705)
Short-term investments sold		1,229	2,701
	$	(665)	996

Employee Benefit Plans

9 Months Ended

Sep. 30, 2019

Employee Benefit Plans [Abstract]

Employee Benefit Plans

Note 18—Employee Benefit Plans

Pension and Postretirement Plans
	Millions of Dollars
	Pension Benefits					Other Benefits
	2019			2018		2019	2018
		U.S.	Int'l.	U.S.	Int'l.
Components of Net Periodic Benefit Cost
Three Months Ended September 30
Service cost	$	20	19	20	20	1	-
Interest cost		21	25	22	26	1	2
Expected return on plan assets		(18)	(34)	(22)	(38)	-	-
Amortization of prior service credit		-	-	-	(1)	(7)	(9)
Recognized net actuarial loss (gain)		13	7	10	9	(1)	-
Settlements		37	-	14	-	-	-
Curtailments		-	(1)	-	(1)	-	-
Net periodic benefit cost	$	73	16	44	15	(6)	(7)

Nine Months Ended September 30
Service cost	$	59	56	63	63	1	1
Interest cost		63	77	76	80	6	6
Expected return on plan assets		(54)	(104)	(91)	(118)	-	-
Amortization of prior service credit		-	(1)	-	(4)	(24)	(26)
Recognized net actuarial loss (gain)		39	23	41	27	(2)	(1)
Settlements		54	-	161	-	-	-
Curtailments		-	(1)	-	(1)	-	-
Net periodic benefit cost	$	161	50	250	47	(19)	(20)

The components of net periodic benefit cost, other than the service cost component, are included in the “Other expenses” line item on our consolidated income statement.

During the first nine months of 2019, we contributed $174 million to our domestic benefit plans and $429 million to our international benefit plans, including a $324 million contribution made in conjunction with the completion of our sale of two ConocoPhillips U.K. subsidiaries. In 2019, we expect to contribute approximately $220 million to our domestic qualified and nonqualified pension and postretirement benefit plans and $455 million to our international qualified and nonqualified pension and postretirement benefit plans.

During the three-month period ended September 30, 2019, lump-sum benefit payments exceeded the sum of service and interest costs for the fiscal year for the U.S. qualified pension plan and a U.S. nonqualified supplemental retirement plan. As a result, we recognized a proportionate share of prior actuarial losses from other comprehensive income as pension settlement expense of $37 million. In conjunction with the recognition of pension settlement expense, the fair market values of pension plan assets were updated and the pension benefit obligations of the U.S. qualified pension plan and the U.S. nonqualified supplemental retirement plan were remeasured as of September 30, 2019. At the measurement date, the net pension liability increased by $108 million. This is primarily a result of a decrease in the discount rate from 4.30 percent at December 31, 2018 to 3.10 percent at September 30, 2019 for the U.S. qualified pension plan and from 4.05 percent at December 31, 2018 to 2.80 percent at September 30, 2019 for the U.S. nonqualified supplemental retirement plan, resulting in a corresponding decrease to other comprehensive income.

The sale of two ConocoPhillips U.K. subsidiaries completed during the third quarter of 2019 led to a significant reduction of future services of active employees in certain international pension plans, resulting in a curtailment. In conjunction with the recognition of the curtailment, the fair market values of pension plan

assets were updated, the pension benefit obligation was remeasured, and the net pension asset decreased by $43 million, resulting in a corresponding decrease to other comprehensive income. This is primarily a result of a decrease in the discount rate from 2.90 percent at December 31, 2018 to 1.80 percent at September 30, 2019 offset by a decrease in the pension benefit obligation from curtailment.

Severance Accrual

The following table summarizes our severance accrual activity for the nine-month period ended September 30, 2019:

	Millions of Dollars

Balance at December 31, 2018	$	48
Accruals		(2)
Benefit payments		(22)
Foreign currency translation adjustments		(1)
Balance at September 30, 2019	$	23

Of the remaining balance at September 30, 2019, $6 million is classified as short term.

Related Party Transactions

9 Months Ended

Sep. 30, 2019

Related Party Transactions

Note 19—Related Party Transactions

Our related parties primarily include equity method investments and certain trusts for the benefit of employees.

Significant transactions with our related parties were:

		Millions of Dollars
		Three Months Ended			Nine Months Ended
		September 30			September 30
		2019		2018	2019	2018

Operating revenues and other income		$	23	27	70	74
Purchases			-	25	38	74
Operating expenses and selling, general and administrative
	expenses		19	13	47	44
Net interest (income) expense*			(3)	(4)	(10)	(11)
*We paid interest to, or received interest from, various affiliates. See Note 6—Investments, Loans and Long-Term Receivables, for additional
information on loans to affiliated companies.

Sales and Other Operating Revenues

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Note 20—Sales and Other Operating Revenues

Revenue from Contracts with Customers

The following table provides further disaggregation of our consolidated sales and other operating revenues:

	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
	2019		2018	2019	2018

Revenue from contracts with customers	$	6,240	7,546	19,932	20,834
Revenue from contracts outside the scope of ASC Topic 606
Physical contracts meeting the definition of a derivative		1,529	1,897	4,981	5,877
Financial derivative contracts		(13)	6	(54)	40
Consolidated sales and other operating revenues	$	7,756	9,449	24,859	26,751

Revenues from contracts outside the scope of ASC Topic 606 relate primarily to physical gas contracts at market prices which qualify as derivatives accounted for under ASC Topic 815, “Derivatives and Hedging,” and for which we have not elected NPNS. There is no significant difference in contractual terms or the policy for recognition of revenue from these contracts and those within the scope of ASC Topic 606. The following disaggregation of revenues is provided in conjunction with Note 21—Segment Disclosures and Related Information:

		Millions of Dollars
		Three Months Ended			Nine Months Ended
		September 30			September 30
		2019		2018	2019	2018
Revenue from Outside the Scope of ASC Topic 606
	by Segment
Lower 48		$	1,099	1,534	3,823	4,547
Canada			86	87	427	374
Europe and North Africa			344	276	731	956
Physical contracts meeting the definition of a derivative		$	1,529	1,897	4,981	5,877

		Millions of Dollars
		Three Months Ended			Nine Months Ended
		September 30			September 30
		2019		2018	2019	2018
Revenue from Outside the Scope of ASC Topic 606
	by Product
Crude oil		$	266	267	619	843
Natural gas			1,159	1,522	4,022	4,775
Other			104	108	340	259
Physical contracts meeting the definition of a derivative		$	1,529	1,897	4,981	5,877

Practical Expedients

Typically, our commodity sales contracts are less than 12 months in duration; however, in certain specific cases may extend longer, which may be out to the end of field life. We have long-term commodity sales contracts which use prevailing market prices at the time of delivery, and under these contracts, the market-based variable consideration for each performance obligation (i.e., delivery of commodity) is allocated to each wholly unsatisfied performance obligation within the contract. Accordingly, we have applied the practical expedient allowed in ASC Topic 606 and do not disclose the aggregate amount of the transaction price allocated to performance obligations or when we expect to recognize revenues that are unsatisfied (or partially unsatisfied) as of the end of the reporting period.

Receivables and Contract Liabilities

Receivables from Contracts with Customers

At September 30, 2019, the “Accounts and notes receivable” line on our consolidated balance sheet, includes trade receivables of $2,566 million compared with $2,889 million at December 31, 2018, and includes both contracts with customers within the scope of ASC Topic 606 and those that are outside the scope of ASC Topic 606. We typically receive payment within 30 days or less (depending on the terms of the invoice) once delivery is made. Revenues that are outside the scope of ASC Topic 606 relate primarily to physical gas sales contracts at market prices for which we do not elect NPNS and are therefore accounted for as a derivative under ASC Topic 815. There is little distinction in the nature of the customer or credit quality of trade receivables associated with gas sold under contracts for which NPNS has not been elected compared to trade receivables where NPNS has been elected.

Contract Liabilities from Contracts with Customers

We have entered into contractual arrangements where we license our proprietary technology to customers related to the optimization process for operating LNG plants. The contracts typically provide for negotiated payments to be made at stated milestones. The payments are not directly related to our performance under the contract and are recorded as deferred revenue to be recognized as revenue when the customer can utilize and benefit from their right to use the license. Payments are received in installments over the construction period.

	Millions of Dollars
Contract Liabilities
At December 31, 2018	$	206
Contractual payments received		73
Revenue recognized		(199)
At September 30, 2019	$	80

Amounts Recognized in the Consolidated Balance Sheet at September 30, 2019
Noncurrent liabilities	$	80
	$	80

We expect to recognize the contract liabilities as of September 30, 2019, as revenue between 2021 and 2022.

Segment Disclosures and Related Information

9 Months Ended

Sep. 30, 2019

Segment Disclosures and Related Information [Abstract]

Segment Disclosures and Related Information

Note 21—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 attributable to ConocoPhillips. Intersegment sales are at prices that approximate market.

Analysis of Results by Operating Segment
	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
		2019	2018	2019	2018
Sales and Other Operating Revenues
Alaska	$	1,296	1,493	4,129	4,281
Lower 48		3,728	4,543	11,690	12,347
Intersegment eliminations		(10)	(14)	(33)	(18)
Lower 48		3,718	4,529	11,657	12,329
Canada		633	735	2,173	2,436
Intersegment eliminations		(273)	(308)	(858)	(853)
Canada		360	427	1,315	1,583
Europe and North Africa		1,225	1,574	4,084	4,826
Asia Pacific and Middle East		1,085	1,348	3,458	3,570
Corporate and Other		72	78	216	162
Consolidated sales and other operating revenues	$	7,756	9,449	24,859	26,751

Sales and Other Operating Revenues by Geographic Location
United States	$	5,085	6,025	15,996	16,617
Australia		412	515	1,282	1,258
Canada		360	427	1,315	1,583
China		191	262	593	616
Indonesia		223	234	654	662
Libya		288	264	809	802
Malaysia		258	339	928	1,039
Norway		632	734	1,781	2,112
United Kingdom		305	574	1,494	1,911
Other foreign countries		2	75	7	151
Worldwide consolidated	$	7,756	9,449	24,859	26,751

Sales and Other Operating Revenues by Product
Crude Oil	$	4,612	5,277	14,006	14,503
Natural gas		1,799	2,503	6,717	7,593
Natural gas liquids		156	351	607	847
Other*		1,189	1,318	3,529	3,808
Consolidated sales and other operating revenues by product	$	7,756	9,449	24,859	26,751
*Includes LNG and bitumen.

	Millions of Dollars
	Three Months Ended			Nine Months Ended
		September 30		September 30
		2019	2018	2019	2018
Net Income Attributable to ConocoPhillips
Alaska	$	306	427	1,152	1,369
Lower 48		26	513	425	1,231
Canada		51	34	273	2
Europe and North Africa		2,001	241	2,615	776
Asia Pacific and Middle East		613	577	1,655	1,504
Other International		73	316	285	267
Corporate and Other		(14)	(247)	64	(760)
Consolidated net income attributable to ConocoPhillips	$	3,056	1,861	6,469	4,389

	Millions of Dollars
	September 30		December 31
	2019		2018
Total Assets
Alaska	$	15,513	14,648
Lower 48		14,601	14,888
Canada		6,196	5,748
Europe and North Africa		7,941	9,883
Asia Pacific and Middle East		15,091	16,151
Other International		89	89
Corporate and Other		10,909	8,573
Consolidated total assets	$	70,340	69,980

Income Taxes

9 Months Ended

Sep. 30, 2019

Income Taxes [Abstract]

Income Taxes

Note 22—Income Taxes

Our effective tax rates for the three- and nine-month periods ended September 30, 2019, were 12 percent and 21 percent, respectively, compared with 36 percent and 39 percent for the same periods of 2018. The effective tax rate for the three- and nine-month periods ended September 30, 2019 is lower than the effective tax rate for the same periods of 2018 primarily due to the recognition of a U.S. capital loss benefit related to the disposition of two of our U.K. subsidiaries, the recognition of tax incentives in Malaysia, a reduction in our valuation allowance for 2019, and changes in our mix of income between higher and lower tax jurisdictions.

During the three- and nine-month periods ended September 30, 2019, we recognized a U.S. tax benefit of $28 million and $262 million, respectively, related to the recognition of a U.S. capital loss benefit on our U.K. entity disposition.

During the third quarter of 2019, we received final partner approval in the Malaysia Block G to claim certain deepwater tax credits. As a result, we recorded an income tax benefit of $164 million.

During the three- and nine-month periods ended September 30, 2019, our valuation allowance decreased by $32 million and $224 million, respectively, compared to increases of $16 million and $61 million for the same periods of 2018. The change to our valuation allowance between periods relates primarily to the decrease in the deferred tax asset related to the increase in the fair value measurement of our Cenovus Energy common shares as well as recognition and realization of deferred tax assets due to the disposition of the Greater Sunrise Fields.

For additional information on asset dispositions, see Note 5—Asset Dispositions.

New Accounting Standards

9 Months Ended

Sep. 30, 2019

New Accounting Standards [Abstract]

Description of New Accounting Pronouncements Not yet Adopted [Text Block]

Note 23—New Accounting Standards

In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (ASU No. 2016-13), which sets forth the current expected credit loss model, a new forward-looking impairment model for certain financial instruments based on expected losses rather than incurred losses. The ASU is effective for interim and annual periods beginning after December 15, 2019. Entities are required to adopt ASU No. 2016-13 using a modified retrospective approach, subject to certain limited exceptions. The impact of adopting this ASU is not expected to be material to our financial statements.

Supplementary Information - Condensed Consolidating Financial Information

9 Months Ended

Sep. 30, 2019

Supplementary Information - Condensed Consolidating Financial Information [Abstract]

Supplementary Information - Condensed Consolidating Financial Information

Supplementary Information—Condensed Consolidating Financial Information

We have various cross guarantees among ConocoPhillips, ConocoPhillips Company and Burlington Resources LLC, with respect to publicly held debt securities. ConocoPhillips Company is 100 percent owned by ConocoPhillips. Burlington Resources LLC is an indirect, 100 percent owned subsidiary of ConocoPhillips Company. ConocoPhillips and/or ConocoPhillips Company have fully and unconditionally guaranteed the payment obligations of Burlington Resources LLC, with respect to its publicly held debt securities. Similarly, ConocoPhillips has fully and unconditionally guaranteed the payment obligations of ConocoPhillips Company with respect to its publicly held debt securities. In addition, ConocoPhillips Company has fully and unconditionally guaranteed the payment obligations of ConocoPhillips with respect to its publicly held debt securities. All guarantees are joint and several. The following condensed consolidating financial information presents the results of operations, financial position and cash flows for:

ConocoPhillips, ConocoPhillips Company and Burlington Resources LLC (in each case, reflecting investments in subsidiaries utilizing the equity method of accounting).

All other nonguarantor subsidiaries of ConocoPhillips.

The consolidating adjustments necessary to present ConocoPhillips’ results on a consolidated basis.

In December 2018, ConocoPhillips Canada Funding Company I’s guaranteed, publicly held debt securities were assumed by Burlington Resources LLC. The assumption did not significantly change the nature of the outstanding debt or the terms of the parental guarantees, which remain full and unconditional, as well as joint and several. The assumption did not impact our consolidated financial position, results of operations or cash flows. Financial information for ConocoPhillips Canada Funding Company I is presented in the “All Other Subsidiaries” column of our condensed consolidating financial information. The prior year comparative periods have been restated to reflect the current period condensed consolidating financial information presentation.

This condensed consolidating financial information should be read in conjunction with the accompanying consolidated financial statements and notes.

In April 2019, ConocoPhillips received a $1.7 billion return of earnings from ConocoPhillips Company to settle certain accumulated intercompany balances. This transaction had no impact on our consolidated financial statements.

In April 2019, ConocoPhillips Company received a $3.3 billion return of earnings from nonguarantor subsidiaries to settle certain accumulated intercompany balances. These transactions had no impact on our consolidated financial statements.

		Millions of Dollars
		Three Months Ended September 30, 2019
Income Statement		ConocoPhillips	ConocoPhillips Company	Burlington Resources LLC	All Other Subsidiaries	Consolidating Adjustments	Total Consolidated

Revenues and Other Income
Sales and other operating revenues	$	-	3,493	-	4,263	-	7,756
Equity in earnings of affiliates		3,114	728	461	288	(4,301)	290
Gain (loss) on dispositions		-	2,695	-	(910)	-	1,785
Other income		-	136	2	124	-	262
Intercompany revenues		-	34	10	1,323	(1,367)	-
Total Revenues and Other Income		3,114	7,086	473	5,088	(5,668)	10,093

Costs and Expenses
Purchased commodities		-	3,078	-	884	(1,252)	2,710
Production and operating expenses		-	290	-	1,091	(50)	1,331
Selling, general and administrative expenses		1	60	-	26	-	87
Exploration expenses		-	295	-	65	-	360
Depreciation, depletion and amortization		-	159	-	1,407	-	1,566
Impairments		-	12	-	12	-	24
Taxes other than income taxes		-	28	-	209	-	237
Accretion on discounted liabilities		-	4	-	82	-	86
Interest and debt expense		72	109	34	34	(65)	184
Foreign currency transaction (gains) losses		-	(6)	-	(15)	-	(21)
Other expenses		-	35	-	1	-	36
Total Costs and Expenses		73	4,064	34	3,796	(1,367)	6,600
Income before income taxes		3,041	3,022	439	1,292	(4,301)	3,493
Income tax provision (benefit)		(15)	(92)	(5)	534	-	422
Net income		3,056	3,114	444	758	(4,301)	3,071
Less: net income attributable to noncontrolling interests		-	-	-	(15)	-	(15)
Net Income Attributable to ConocoPhillips	$	3,056	3,114	444	743	(4,301)	3,056

Comprehensive Income Attributable to ConocoPhillips	$	3,229	3,287	384	939	(4,610)	3,229


Income Statement		Three Months Ended September 30, 2018

Revenues and Other Income
Sales and other operating revenues	$	-	4,330	-	5,119	-	9,449
Equity in earnings of affiliates		1,903	2,166	481	294	(4,550)	294
Gain on dispositions		-	75	-	38	-	113
Other income (loss)		-	(61)	-	370	-	309
Intercompany revenues		9	34	15	1,597	(1,655)	-
Total Revenues and Other Income		1,912	6,544	496	7,418	(6,205)	10,165

Costs and Expenses
Purchased commodities		-	3,880	-	1,197	(1,547)	3,530
Production and operating expenses		-	298	-	1,084	(15)	1,367
Selling, general and administrative expenses		2	99	-	18	-	119
Exploration expenses		-	41	-	62	-	103
Depreciation, depletion and amortization		-	152	-	1,342	-	1,494
Impairments		-	1	-	43	-	44
Taxes other than income taxes		-	33	-	279	-	312
Accretion on discounted liabilities		-	4	-	85	-	89
Interest and debt expense		72	156	10	41	(93)	186
Foreign currency transaction (gains) losses		(12)	3	(42)	56	-	5
Other expenses		-	6	-	4	-	10
Total Costs and Expenses		62	4,673	(32)	4,211	(1,655)	7,259
Income before income taxes		1,850	1,871	528	3,207	(4,550)	2,906
Income tax provision (benefit)		(11)	(32)	(6)	1,082	-	1,033
Net income		1,861	1,903	534	2,125	(4,550)	1,873
Less: net income attributable to noncontrolling interests		-	-	-	(12)	-	(12)
Net Income Attributable to ConocoPhillips	$	1,861	1,903	534	2,113	(4,550)	1,861

Comprehensive Income Attributable to ConocoPhillips	$	2,056	2,098	612	2,277	(4,987)	2,056
See Notes to Consolidated Financial Statements.

	Millions of Dollars
	Nine Months Ended September 30, 2019
Income Statement	ConocoPhillips		ConocoPhillips Company	Burlington Resources LLC	All Other Subsidiaries	Consolidating Adjustments	Total Consolidated

Revenues and Other Income
Sales and other operating revenues	$	-	10,961	-	13,898	-	24,859
Equity in earnings of affiliates		6,641	4,438	1,467	647	(12,542)	651
Gain (loss) on dispositions		-	2,700	-	(816)	-	1,884
Other income		1	688	3	444	-	1,136
Intercompany revenues		-	83	33	4,266	(4,382)	-
Total Revenues and Other Income		6,642	18,870	1,503	18,439	(16,924)	28,530

Costs and Expenses
Purchased commodities		-	9,699	-	3,134	(3,774)	9,059
Production and operating expenses		1	1,127	1	3,295	(404)	4,020
Selling, general and administrative expenses		7	272	-	95	(5)	369
Exploration expenses		-	389	-	203	-	592
Depreciation, depletion and amortization		-	443	-	4,159	-	4,602
Impairments		-	12	-	14	-	26
Taxes other than income taxes		-	107	-	599	-	706
Accretion on discounted liabilities		-	12	-	247	-	259
Interest and debt expense		211	401	100	69	(199)	582
Foreign currency transaction (gains) losses		-	23	-	(4)	-	19
Other expenses		-	60	-	(2)	-	58
Total Costs and Expenses		219	12,545	101	11,809	(4,382)	20,292
Income before income taxes		6,423	6,325	1,402	6,630	(12,542)	8,238
Income tax provision (benefit)		(46)	(316)	(14)	2,100	-	1,724
Net income		6,469	6,641	1,416	4,530	(12,542)	6,514
Less: net income attributable to noncontrolling interests		-	-	-	(45)	-	(45)
Net Income Attributable to ConocoPhillips	$	6,469	6,641	1,416	4,485	(12,542)	6,469

Comprehensive Income Attributable to ConocoPhillips	$	6,918	7,090	1,588	4,937	(13,615)	6,918


Income Statement	Nine Months Ended September 30, 2018

Revenues and Other Income
Sales and other operating revenues	$	-	11,774	-	14,977	-	26,751
Equity in earnings of affiliates		4,562	5,398	1,360	766	(11,319)	767
Gain on dispositions		-	78	-	97	-	175
Other income		-	230	-	443	-	673
Intercompany revenues		28	124	28	4,188	(4,368)	-
Total Revenues and Other Income		4,590	17,604	1,388	20,471	(15,687)	28,366

Costs and Expenses
Purchased commodities		-	10,571	-	3,758	(4,021)	10,308
Production and operating expenses		-	723	4	3,182	(58)	3,851
Selling, general and administrative expenses		7	254	-	80	(5)	336
Exploration expenses		-	132	-	135	-	267
Depreciation, depletion and amortization		-	427	-	3,917	-	4,344
Impairments		-	(9)	-	30	-	21
Taxes other than income taxes		-	111	-	657	-	768
Accretion on discounted liabilities		-	13	-	253	-	266
Interest and debt expense		219	456	35	121	(284)	547
Foreign currency transaction (gains) losses		22	(6)	38	(47)	-	7
Other expenses		-	348	6	(4)	-	350
Total Costs and Expenses		248	13,020	83	12,082	(4,368)	21,065
Income before income taxes		4,342	4,584	1,305	8,389	(11,319)	7,301
Income tax provision (benefit)		(47)	22	(25)	2,924	-	2,874
Net income		4,389	4,562	1,330	5,465	(11,319)	4,427
Less: net income attributable to noncontrolling interests		-	-	-	(38)	-	(38)
Net Income Attributable to ConocoPhillips	$	4,389	4,562	1,330	5,427	(11,319)	4,389

Comprehensive Income Attributable to ConocoPhillips	$	4,407	4,580	1,149	5,319	(11,048)	4,407
See Notes to Consolidated Financial Statements.

	Millions of Dollars
	September 30, 2019
Balance Sheet	ConocoPhillips		ConocoPhillips Company	Burlington Resources LLC	All Other Subsidiaries	Consolidating Adjustments	Total Consolidated

Assets
Cash and cash equivalents	$	-	3,450	-	3,743	-	7,193
Short-term investments		-	400	-	508	-	908
Accounts and notes receivable		5	1,905	2	4,518	(2,814)	3,616
Investment in Cenovus Energy		-	1,951	-	-	-	1,951
Inventories		-	141	-	814	-	955
Prepaid expenses and other current assets		-	188	-	406	-	594
Total Current Assets		5	8,035	2	9,989	(2,814)	15,217
Investments, loans and long-term receivables*		35,374	50,862	16,169	16,666	(109,936)	9,135
Net properties, plants and equipment		-	3,822	-	39,992	-	43,814
Other assets		4	933	227	2,003	(993)	2,174
Total Assets	$	35,383	63,652	16,398	68,650	(113,743)	70,340

Liabilities and Stockholders’ Equity
Accounts payable	$	-	2,869	-	3,116	(2,814)	3,171
Short-term debt		(3)	3	14	107	-	121
Accrued income and other taxes		-	56	-	1,021	-	1,077
Employee benefit obligations		-	415	-	128	-	543
Other accruals		56	348	38	588	-	1,030
Total Current Liabilities		53	3,691	52	4,960	(2,814)	5,942
Long-term debt		3,793	6,671	2,132	2,203	-	14,799
Asset retirement obligations and accrued environmental costs		-	410	-	5,677	-	6,087
Deferred income taxes		-	-	-	5,686	(993)	4,693
Employee benefit obligations		-	1,373	-	413	-	1,786
Other liabilities and deferred credits*		2,949	9,598	989	9,169	(20,911)	1,794
Total Liabilities		6,795	21,743	3,173	28,108	(24,718)	35,101
Retained earnings		32,926	23,494	2,467	11,876	(31,279)	39,484
Other common stockholders’ equity		(4,338)	18,415	10,758	28,573	(57,746)	(4,338)
Noncontrolling interests		-	-	-	93	-	93
Total Liabilities and Stockholders’ Equity	$	35,383	63,652	16,398	68,650	(113,743)	70,340
*Includes intercompany loans.


Balance Sheet	December 31, 2018

Assets
Cash and cash equivalents	$	-	1,428	-	4,487	-	5,915
Short-term investments		-	-	-	248	-	248
Accounts and notes receivable		28	5,646	78	6,707	(8,392)	4,067
Investment in Cenovus Energy		-	1,462	-	-	-	1,462
Inventories		-	184	-	823	-	1,007
Prepaid expenses and other current assets		1	267	-	307	-	575
Total Current Assets		29	8,987	78	12,572	(8,392)	13,274
Investments, loans and long-term receivables*		29,942	47,062	15,199	16,926	(99,465)	9,664
Net properties, plants and equipment		-	4,367	-	41,796	(465)	45,698
Other assets		4	642	227	1,269	(798)	1,344
Total Assets	$	29,975	61,058	15,504	72,563	(109,120)	69,980

Liabilities and Stockholders’ Equity
Accounts payable	$	-	5,098	76	7,113	(8,392)	3,895
Short-term debt		(3)	12	13	99	(9)	112
Accrued income and other taxes		-	85	-	1,235	-	1,320
Employee benefit obligations		-	638	-	171	-	809
Other accruals		85	587	35	552	-	1,259
Total Current Liabilities		82	6,420	124	9,170	(8,401)	7,395
Long-term debt		3,791	7,151	2,143	2,249	(478)	14,856
Asset retirement obligations and accrued environmental costs		-	415	-	7,273	-	7,688
Deferred income taxes		-	-	-	5,819	(798)	5,021
Employee benefit obligations		-	1,340	-	424	-	1,764
Other liabilities and deferred credits*		725	9,277	839	8,126	(17,775)	1,192
Total Liabilities		4,598	24,603	3,106	33,061	(27,452)	37,916
Retained earnings		27,512	18,511	1,113	9,764	(22,890)	34,010
Other common stockholders’ equity		(2,135)	17,944	11,285	29,613	(58,778)	(2,071)
Noncontrolling interests		-	-	-	125	-	125
Total Liabilities and Stockholders’ Equity	$	29,975	61,058	15,504	72,563	(109,120)	69,980
*Includes intercompany loans. See Notes to Consolidated Financial Statements.

	Millions of Dollars
	Nine Months Ended September 30, 2019
Statement of Cash Flows		ConocoPhillips	ConocoPhillips Company	Burlington Resources LLC	All Other Subsidiaries	Consolidating Adjustments	Total Consolidated

Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	1,486	6,408	(56)	6,662	(6,378)	8,122

Cash Flows From Investing Activities
Capital expenditures and investments		-	(2,308)	-	(4,329)	1,596	(5,041)
Working capital changes associated with investing activities		-	76	-	(59)	-	17
Proceeds from asset dispositions		-	2,732	763	1,026	(1,601)	2,920
Sales (purchases) of short-term investments		-	(400)	-	(265)	-	(665)
Long-term advances/loans—related parties		-	(810)	-	-	810	-
Collection of advances/loans—related parties		-	141	-	147	(161)	127
Intercompany cash management		2,224	(1,970)	56	(310)	-	-
Other		-	(149)	-	3	-	(146)
Net Cash Provided by (Used in) Investing Activities		2,224	(2,688)	819	(3,787)	644	(2,788)

Cash Flows From Financing Activities
Issuance of debt		-	-	-	810	(810)	-
Repayment of debt		-	(21)	-	(199)	161	(59)
Issuance of company common stock		75	-	-	-	(114)	(39)
Repurchase of company common stock		(2,751)	-	-	-	-	(2,751)
Dividends paid		(1,037)	(1,660)	-	(4,832)	6,492	(1,037)
Other		3	-	(763)	682	5	(73)
Net Cash Used in Financing Activities		(3,710)	(1,681)	(763)	(3,539)	5,734	(3,959)

Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash		-	(12)	-	(56)	-	(68)

Net Change in Cash, Cash Equivalents and Restricted Cash		-	2,027	-	(720)	-	1,307
Cash, cash equivalents and restricted cash at beginning of period*		-	1,428	-	4,723	-	6,151
Cash, Cash Equivalents and Restricted Cash at End of Period	$	-	3,455	-	4,003	-	7,458


Statement of Cash Flows	Nine Months Ended September 30, 2018*

Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	(169)	791	818	8,762	(1,051)	9,151

Cash Flows From Investing Activities
Capital expenditures and investments		-	(771)	(12)	(4,369)	19	(5,133)
Working capital changes associated with investing activities		-	(77)	-	20	-	(57)
Proceeds from asset dispositions		2,500	379	1,926	199	(4,610)	394
Sales of short-term investments		-	-	-	996	-	996
Long-term advances/loans—related parties		-	(36)	(117)	(10)	163	-
Collection of advances/loans—related parties		-	3,432	-	129	(3,442)	119
Intercompany cash management		514	3,426	(2,564)	(1,376)	-	-
Other		-	-	-	16	-	16
Net Cash Provided by (Used in) Investing Activities		3,014	6,353	(767)	(4,395)	(7,870)	(3,665)

Cash Flows From Financing Activities
Issuance of debt		-	10	-	153	(163)	-
Repayment of debt		-	(4,865)	(53)	(3,494)	3,442	(4,970)
Issuance of company common stock		234	-	-	-	(113)	121
Repurchase of company common stock		(2,073)	-	-	-	-	(2,073)
Dividends paid		(1,009)	-	-	(1,217)	1,217	(1,009)
Other		3	(2,511)	-	(2,141)	4,538	(111)
Net Cash Used in Financing Activities		(2,845)	(7,366)	(53)	(6,699)	8,921	(8,042)

Effect of Exchange Rate Changes on Cash and Cash Equivalents		-	4	-	(44)	-	(40)

Net Change in Cash and Cash Equivalents		-	(218)	(2)	(2,376)	-	(2,596)
Cash and cash equivalents at beginning of period		-	234	3	6,299	-	6,536
Cash and Cash Equivalents at End of Period	$	-	16	1	3,923	-	3,940
*Revised to reclassify certain intercompany distributions from Operating Activities to 'Proceeds from asset dispositions' within Investing Activities based on the nature of the distributions. There was no impact to Total Consolidated results.
See Notes to Consolidated Financial Statements.

Significant accounting policies (Policies)	9 Months Ended
Significant accounting policies (Policies)	Sep. 30, 2019
Policy Text Block [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The interim-period financial information presented in the financial statements included in this report is unaudited and, in the opinion of management, includes all known accruals and adjustments necessary for a fair presentation of the consolidated financial position of ConocoPhillips and its results of operations and cash flows for such periods. All such adjustments are of a normal and recurring nature unless otherwise disclosed. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and notes included in our 2018 Annual Report on Form 10-K.
New Accounting Pronouncements, Policy [Policy Text Block]	We adopted the provisions of FASB ASU No. 2016-02, “Leases,” and its amendments set forth by the provisions of ASU No. 2018-01, “Land Easement Practical Expedient for Transition to Topic 842,” ASU No. 2018-10, “Codification Improvements to Topic 842, Leases,” ASU No. 2018-11, “Targeted Improvements,” ASU No. 2018-20, “Narrow-Scope Improvements for Lessors,” and ASU No. 2019-01, “Codification Improvements,” collectively FASB ASC Topic 842, “Leases” (ASC Topic 842), beginning January 1, 2019. ASC Topic 842 establishes comprehensive accounting and financial reporting requirements for leasing arrangements, supersedes the existing requirements in FASB ASC Topic 840, “Leases” (ASC Topic 840), and requires lessees to recognize substantially all lease assets and lease liabilities on the balance sheet. The provisions of ASC Topic 842 also modify the definition of a lease and outline requirements for recognition, measurement, presentation and disclosure of leasing arrangements by both lessees and lessors. We adopted ASC Topic 842 using the modified retrospective approach and elected to utilize the Optional Transition Method, which permits us to apply the provisions of ASC Topic 842 to leasing arrangements existing at or entered into after January 1, 2019, and present in our financial statements comparative periods prior to January 1, 2019 under the historical requirements of ASC Topic 840. In addition, we elected to adopt the package of optional transition-related practical expedients, which among other things, allows us to carry forward certain historical conclusions reached under ASC Topic 840 regarding lease identification, classification, and the accounting treatment of initial direct costs. Furthermore, we elected not to record assets and liabilities on our consolidated balance sheet for new or existing lease arrangements with terms of 12 months or less. The primary impact of applying ASC Topic 842 is the initial recognition of $998 million of lease liabilities and corresponding right-of-use assets on our consolidated balance sheet as of January 1, 2019, for leases classified as operating leases under ASC Topic 840, as well as enhanced disclosure of our leasing arrangements. Our accounting treatment for finance leases remains unchanged. In addition, there is no cumulative effect to retained earnings or other components of equity recognized as of January 1, 2019, and the adoption of ASC Topic 842 did not impact the presentation of our consolidated income statement or statement of cash flows. See Note 15—Non-Mineral Leases for additional information related to the adoption of ASC Topic 842. We adopted the provisions of FASB ASU No. 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” beginning January 1, 2019. The ASU allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act, eliminating the stranded tax effects.
Revenue Recognition, Policy [Policy Text Block]	Typically, our commodity sales contracts are less than 12 months in duration; however, in certain specific cases may extend longer, which may be out to the end of field life. We have long-term commodity sales contracts which use prevailing market prices at the time of delivery, and under these contracts, the market-based variable consideration for each performance obligation (i.e., delivery of commodity) is allocated to each wholly unsatisfied performance obligation within the contract. Accordingly, we have applied the practical expedient allowed in ASC Topic 606 and do not disclose the aggregate amount of the transaction price allocated to performance obligations or when we expect to recognize revenues that are unsatisfied (or partially unsatisfied) as of the end of the reporting period.
Long-Duration Contracts Revenue Recognition, Policy [Policy Text Block]	We have entered into contractual arrangements where we license our proprietary technology to customers related to the optimization process for operating LNG plants. The contracts typically provide for negotiated payments to be made at stated milestones. The payments are not directly related to our performance under the contract and are recorded as deferred revenue to be recognized as revenue when the customer can utilize and benefit from their right to use the license. Payments are received in installments over the construction period.
Lessee, Leases [Policy Text Block]	We adopted ASC Topic 842 using the modified retrospective approach and elected to utilize the Optional Transition Method, which permits us to apply the provisions of ASC Topic 842 to leasing arrangements existing at or entered into after January 1, 2019, and present in our financial statements comparative periods prior to January 1, 2019 under the historical requirements of ASC Topic 840. In addition, we elected to adopt the package of optional transition-related practical expedients, which among other things, allows us to carry forward certain historical conclusions reached under ASC Topic 840 regarding lease identification, classification, and the accounting treatment of initial direct costs. Furthermore, we elected not to record assets and liabilities on our consolidated balance sheet for new or existing lease arrangements with terms of 12 months or less.

Change in Accounting Principles (Tables)

9 Months Ended

Sep. 30, 2019

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

	Millions of Dollars
		December 31	ASU No. 2018-02	January 1
		2018	Adjustments	2019
Equity
Accumulated other comprehensive loss	$	(6,063)	(40)	(6,103)
Retained earnings		34,010	40	34,050
For additional information regarding the impact of the adoption of ASU No. 2018-02, see Note 16—Accumulated Other Comprehensive Loss.

Inventories (Tables)

9 Months Ended

Sep. 30, 2019

Inventories [Abstract]

Stockholders' Equity Note [Abstract]

Note 4—Inventories

Inventories consisted of the following:

	Millions of Dollars
	September 30		December 31
		2019	2018

Crude oil and natural gas	$	399	432
Materials and supplies		556	575
	$	955	1,007

Changes in Equity (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Stockholders Equity [Table Text Block]

Note 10—Changes in Equity

	Millions of Dollars
	Attributable to ConocoPhillips
	Common Stock
	Par Value		Capital in Excess of Par	Treasury Stock	Accum. Other Comprehensive Income (Loss)		Retained Earnings	Non-Controlling Interests	Total
For the three months ended September 30, 2019
Balances at June 30, 2019	$	18	46,922	(44,906)		(5,827)	36,769	98	33,074
Net income							3,056	15	3,071
Other comprehensive income						173			173
Dividends paid ($ 0.31 ) per common share							(341)		(341)
Repurchase of company common stock				(749)					(749)
Distributions to noncontrolling interests and other								(20)	(20)
Distributed under benefit plans			32						32
Other				(1)					(1)
Balances at September 30, 2019	$	18	46,954	(45,656)		(5,654)	39,484	93	35,239

For the nine months ended September 30, 2019
Balances at December 31, 2018	$	18	46,879	(42,905)		(6,063)	34,010	125	32,064
Net income							6,469	45	6,514
Other comprehensive income						449			449
Dividends paid ($ 0.92 ) per common share							(1,037)		(1,037)
Repurchase of company common stock				(2,751)					(2,751)
Distributions to noncontrolling interests and other								(80)	(80)
Distributed under benefit plans			75						75
Changes in Accounting Principles*						(40)	40		-
Other							2	3	5
Balances at September 30, 2019	$	18	46,954	(45,656)		(5,654)	39,484	93	35,239
*See Note 2—Changes in Accounting Principles for additional information.


	Millions of Dollars
	Attributable to ConocoPhillips
	Common Stock
	Par Value		Capital in Excess of Par	Treasury Stock		Accum. Other Comprehensive Income (Loss)	Retained Earnings	Non-Controlling Interests	Total
For the three months ended September 30, 2018
Balances at June 30, 2018	$	18	46,746	(41,052)		(5,637)	30,967	180	31,222
Net income							1,861	12	1,873
Other comprehensive income						195			195
Dividends paid ($ 0.29 ) per common share							(334)		(334)
Repurchase of company common stock				(927)					(927)
Distributions to noncontrolling interests and other								(63)	(63)
Distributed under benefit plans			112					.	112
Other							1		1
Balances at September 30, 2018	$	18	46,858	(41,979)		(5,442)	32,495	129	32,079

For the nine months ended September 30, 2018
Balances at December 31, 2017	$	18	46,622	(39,906)		(5,518)	29,391	194	30,801
Net income							4,389	38	4,427
Other comprehensive income						18			18
Dividends paid ($ 0.86 ) per common share							(1,009)		(1,009)
Repurchase of company common stock				(2,073)					(2,073)
Distributions to noncontrolling interests and other								(105)	(105)
Distributed under benefit plans			236						236
Changes in Accounting Principles*						58	(278)		(220)
Other							2	2	4
Balances at September 30, 2018	$	18	46,858	(41,979)		(5,442)	32,495	129	32,079
*Cumulative effect of the adoption of ASC Topic 606, “Revenue from Contracts with Customers,” and ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Liabilities,” at January 1, 2018.

Derivative and Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative and Financial Instruments [Abstract]

Balance sheet location and fair value amounts of derivatives

The following table presents the gross fair values of our commodity derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet:

	Millions of Dollars
	September 30		December 31
	2019		2018
Assets
Prepaid expenses and other current assets	$	224	410
Other assets		39	40
Liabilities
Other accruals		236	370
Other liabilities and deferred credits		31	30

The following table presents the gross fair values of our foreign currency exchange derivatives, excluding collateral, and the line items where they appear on our consolidated balance sheet:

	Millions of Dollars
	September 30		December 31
	2019		2018
Assets
Prepaid expenses and other current assets	$	1	7
Liabilities
Other accruals		4	6
Other liabilities and deferred credits		5	-

Income statement location and gain/loss amounts of derivatives

The gains (losses) from commodity derivatives incurred, and the line items where they appear on our consolidated income statement were:

	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
	2019		2018	2019	2018

Sales and other operating revenues	$	4	(29)	68	(6)
Other income		3	3	4	12
Purchased commodities		(9)	18	(60)	15

The (gains) losses from foreign currency exchange derivatives incurred, and the line item where they appear on our consolidated income statement were:

	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
	2019		2018	2019	2018

Foreign currency transaction (gains) losses	$	(24)	(2)	(3)	(5)

Net exposures from outstanding commodity derivative contracts

The table below summarizes our material net exposures resulting from outstanding commodity derivative contracts:

	Open Position
	Long/(Short)
	September 30		December 31
	2019		2018
Commodity
Natural gas and power (billions of cubic feet equivalent)
Fixed price		(17)	(17)
Basis		(28)	(1)

We had the following net notional position of outstanding foreign currency exchange derivatives:

	In Millions
	Notional Currency
		September 30	December 31
	2019		2018
Foreign Currency Exchange Derivatives
Buy U.S. dollar, sell Norwegian krone	USD	18	-
Sell British pound, buy Euro	GBP	1	-
Sell U.S. dollar, buy British pound	USD	-	805
Sell British pound, buy other currencies*	GBP	-	21
Sell Canadian dollar, buy U.S. dollar	CAD	1,347	1,242
*Primarily euro and Norwegian krone.

Balances of financial instruments

	Millions of Dollars
	Carrying Amount
	Cash and Cash Equivalents			Short-Term Investments
	September 30		December 31	September 30	December 31
	2019		2018	2019	2018

Cash	$	651	876
Time deposits
Remaining maturities from 1 to 90 days		3,650	3,509	384	-
Remaining maturities more than 90 days				450	-
Commercial paper
Remaining maturities from 1 to 90 days		1,550	229	74	248
Government obligations
Remaining maturities from 1 to 90 days		1,342	1,301	-	-
	$	7,193	5,915	908	248

Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Measurement [Abstract]

Fair value hierarchy for gross financial assets and liabilities

	Millions of Dollars
	September 30, 2019					December 31, 2018
	Level 1		Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Assets
Investment in Cenovus Energy	$	1,951	-	-	1,951	1,462	-	-	1,462
Commodity derivatives		153	86	24	263	236	181	33	450
Total assets	$	2,104	86	24	2,214	1,698	181	33	1,912

Liabilities
Commodity derivatives	$	169	82	16	267	225	145	30	400
Total liabilities	$	169	82	16	267	225	145	30	400

Commodity derivative balances subject to right of setoff

The following table summarizes those commodity derivative balances subject to the right of setoff as
presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for
multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of setoff exists.

	Millions of Dollars
				Amounts Subject to Right of Setoff
	Gross		Amounts Not		Gross	Net
	Amounts		Subject to	Gross	Amounts	Amounts	Cash	Net
	Recognized		Right of Setoff	Amounts	Offset	Presented	Collateral	Amounts
September 30, 2019
Assets	$	263	7	256	171	85	-	85
Liabilities		267	-	267	171	96	21	75

December 31, 2018
Assets	$	450	9	441	280	161	-	161
Liabilities		400	4	396	280	116	10	106


At September 30, 2019 and December 31, 2018, we did not present any amounts gross on our consolidated balance sheet where we had the right of setoff.

Values of assets, by major category, measured at fair value on a nonrecurring basis

Non-Recurring Fair Value Measurement
The following table summarizes the fair value hierarchy by major category and date of remeasurement for assets accounted for at fair value on a non-recurring basis:

	Millions of Dollars
			Fair Value Measurements Using
	Fair Value		Level 1 Inputs	Level 2 Inputs	Before-Tax Loss
Equity method investments
March 31, 2019	$	171	171	-	60
May 31, 2019		30	-	30	95

Net fair value of financial instruments

The following table summarizes the net fair value of financial instruments (i.e., adjusted where the right of setoff exists for commodity derivatives):

	Millions of Dollars
	Carrying Amount			Fair Value
	September 30		December 31	September 30	December 31
	2019		2018	2019	2018
Financial assets
Investment in Cenovus Energy	$	1,951	1,462	1,951	1,462
Commodity derivatives		92	170	92	170
Total loans and advances—related parties		336	468	336	468
Financial liabilities
Total debt, excluding finance (capital) leases		14,179	14,191	18,131	16,147
Commodity derivatives		75	110	75	110

Non-Mineral Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lease, Assets And Liabilities [Table Text Block]

		Millions of Dollars
		Carrying Amount
		Operating Leases		Finance Leases
Amounts recognized in line items in our Consolidated
Balance Sheet upon adoption of ASC Topic 842

Right-of-Use Assets
Properties, plants and equipment
Gross			$	1,044
Accumulated depreciation, depletion and amortization				(550)
Net properties, plants and equipment as of December 31, 2018			$	494

Adoption of ASC Topic 842 as of January 1, 2019	$	998

Lease Liabilities
Short-term debt			$	79
Long-term debt				698
Total finance leases debt as of December 31, 2018			$	777

Adoption of ASC Topic 842 as of January 1, 2019	$	998

Amounts recognized in line items in our Consolidated
Balance Sheet at September 30, 2019

Right-of-Use Assets
Properties, plants and equipment
Gross			$	1,069
Accumulated depreciation, depletion and amortization				(634)
Net properties, plants and equipment^*			$	435
Other assets^**	$	805

		Millions of Dollars
		Carrying Amount
		Operating Leases		Finance Leases
Lease Liabilities
Short-term debt^*			$	86
Other accruals	$	249
Long-term debt^*				656
Other liabilities and deferred credits		556
Total lease liabilities^**	$	805		742

Lease, Cost [Table Text Block]

The following table summarizes our lease costs:
	Millions of Dollars
	Three Months Ended		Nine Months Ended
	September 30, 2019		September 30, 2019
Lease Cost^*
Operating lease cost	$	99		265
Finance lease cost
Amortization of right-of-use assets		27		84
Interest on lease liabilities		9		28
Short-term lease cost^**		26		57
Total lease cost^***	$	161		434

*The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers.

**Short-term leases are not recorded on our consolidated balance sheet. Our future short-term lease commitments amount to $72 million, of

which $41 million is related to leases whose terms have not yet commenced as of September 30, 2019.

***Variable lease cost and sublease income are immaterial for the periods presented and therefore are not included in the table above.

The following table summarizes the lease terms and discount rates:
		September 30, 2019
Lease Term and Discount Rate
Weighted-average term (years)
Operating leases		5.77
Finance leases		8.91

Weighted-average discount rate (percent)
Operating leases		3.33
Finance leases		5.61


The following table summarizes other lease information:

		Millions of Dollars
		Nine Months Ended
		September 30, 2019
Other Information^*
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	152
Operating cash flows from finance leases		29
Financing cash flows from finance leases		59

Right-of-use assets obtained in exchange for operating lease liabilities	$	300
Right-of-use assets obtained in exchange for finance lease liabilities		26
*The amounts presented in the table above have not been adjusted to reflect amounts recovered or reimbursed from oil and gas coventurers. In addition, pursuant to other applicable accounting guidance, lease payments made in connection with preparing another asset for its intended use are reported in the "Cash Flows From Investing Activities" section of our consolidated statement of cash flows.

Lessee, Operating Lease, Liability, Maturity [Table Text Block]


The following table summarizes future lease payments for operating and finance leases at September 30, 2019:

		Millions of Dollars
		Operating Leases	Finance Leases
Maturity of Lease Liabilities
2019	$	77	31
2020		252	120
2021		190	103
2022		105	102
2023		69	88
Remaining years		195	465
Total^*		888	909
Less: portion representing imputed interest		(83)	(167)
Total lease liabilities	$	805	742
*Future lease payments for operating and finance leases commencing on or after January 1, 2019, also include payments related to non-lease components in accordance with our election to adopt the optional practical expedient not to separate lease components apart from non-lease components for accounting purposes. In addition, future payments related to operating and finance leases proportionately consolidated by the company have been included in the table on a proportionate basis consistent with our respective ownership interest in the underlying investee company or oil and gas venture.

Finance Lease, Liability, Maturity [Table Text Block]


The following table summarizes future lease payments for operating and finance leases at September 30, 2019:

		Millions of Dollars
		Operating Leases	Finance Leases
Maturity of Lease Liabilities
2019	$	77	31
2020		252	120
2021		190	103
2022		105	102
2023		69	88
Remaining years		195	465
Total^*		888	909
Less: portion representing imputed interest		(83)	(167)
Total lease liabilities	$	805	742
*Future lease payments for operating and finance leases commencing on or after January 1, 2019, also include payments related to non-lease components in accordance with our election to adopt the optional practical expedient not to separate lease components apart from non-lease components for accounting purposes. In addition, future payments related to operating and finance leases proportionately consolidated by the company have been included in the table on a proportionate basis consistent with our respective ownership interest in the underlying investee company or oil and gas venture.

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]


At December 31, 2018, future undiscounted minimum rental payments due under noncancelable operating
leases pursuant to ASC Topic 840 were:

		Millions of Dollars

2019	$	248
2020		425
2021		136
2022		319
2023		54
Remaining years		212
Total		1,394
Less: income from subleases		(7)
Net minimum operating lease payments	$	1,387

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

At December 31, 2018, future minimum payments due under finance (capital) leases pursuant to
ASC Topic 840 were:

		Millions of Dollars

2019	$	118
2020		116
2021		100
2022		98
2023		87
Remaining years		453
Total		972
Less: portion representing imputed interest		(195)
Capital lease obligations	$	777

Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Components of accumulated other comprehensive income in the equity section of the balance sheet

Note 16—Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss in the equity section of our consolidated balance sheet included:

	Millions of Dollars
	Defined Benefit Plans		Foreign Currency Translation	Accumulated Other Comprehensive Income (Loss)

December 31, 2018	$	(361)	(5,702)	(6,063)
Cumulative effect of adopting ASU No. 2018-02*		(40)	-	(40)
Other comprehensive income (loss)		(42)	491	449
September 30, 2019	$	(443)	(5,211)	(5,654)
*See Note 2—Changes in Accounting Principles for additional information.

Items reclassified out of accumulated other comprehensive income (loss)

The following table summarizes reclassifications out of accumulated other comprehensive loss and into comprehensive income:

	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
	2019		2018	2019	2018

Defined benefit plans	$	36	17	66	155

Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2019

Cash Flow Information [Abstract]

Cash Flow Information

Note 17—Cash Flow Information
	Millions of Dollars
	Nine Months Ended
	September 30
		2019	2018
Cash Payments
Interest	$	614	584
Income taxes		2,210	1,927

Net Sales (Purchases) of Short-Term Investments
Short-term investments purchased	$	(1,894)	(1,705)
Short-term investments sold		1,229	2,701
	$	(665)	996

Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2019

Employee Benefit Plans [Abstract]

Pension and Postretirement Plans

Note 18—Employee Benefit Plans

Pension and Postretirement Plans
	Millions of Dollars
	Pension Benefits					Other Benefits
	2019			2018		2019	2018
		U.S.	Int'l.	U.S.	Int'l.
Components of Net Periodic Benefit Cost
Three Months Ended September 30
Service cost	$	20	19	20	20	1	-
Interest cost		21	25	22	26	1	2
Expected return on plan assets		(18)	(34)	(22)	(38)	-	-
Amortization of prior service credit		-	-	-	(1)	(7)	(9)
Recognized net actuarial loss (gain)		13	7	10	9	(1)	-
Settlements		37	-	14	-	-	-
Curtailments		-	(1)	-	(1)	-	-
Net periodic benefit cost	$	73	16	44	15	(6)	(7)

Nine Months Ended September 30
Service cost	$	59	56	63	63	1	1
Interest cost		63	77	76	80	6	6
Expected return on plan assets		(54)	(104)	(91)	(118)	-	-
Amortization of prior service credit		-	(1)	-	(4)	(24)	(26)
Recognized net actuarial loss (gain)		39	23	41	27	(2)	(1)
Settlements		54	-	161	-	-	-
Curtailments		-	(1)	-	(1)	-	-
Net periodic benefit cost	$	161	50	250	47	(19)	(20)

Severance accrual

	Millions of Dollars

Balance at December 31, 2018	$	48
Accruals		(2)
Benefit payments		(22)
Foreign currency translation adjustments		(1)
Balance at September 30, 2019	$	23

Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2019

Significant transactions with related parties

Note 19—Related Party Transactions

Our related parties primarily include equity method investments and certain trusts for the benefit of employees.

Significant transactions with our related parties were:

		Millions of Dollars
		Three Months Ended			Nine Months Ended
		September 30			September 30
		2019		2018	2019	2018

Operating revenues and other income		$	23	27	70	74
Purchases			-	25	38	74
Operating expenses and selling, general and administrative
	expenses		19	13	47	44
Net interest (income) expense*			(3)	(4)	(10)	(11)
*We paid interest to, or received interest from, various affiliates. See Note 6—Investments, Loans and Long-Term Receivables, for additional
information on loans to affiliated companies.

Sales and Other Operating Revenue (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
	2019		2018	2019	2018

Revenue from contracts with customers	$	6,240	7,546	19,932	20,834
Revenue from contracts outside the scope of ASC Topic 606
Physical contracts meeting the definition of a derivative		1,529	1,897	4,981	5,877
Financial derivative contracts		(13)	6	(54)	40
Consolidated sales and other operating revenues	$	7,756	9,449	24,859	26,751

		Millions of Dollars
		Three Months Ended			Nine Months Ended
		September 30			September 30
		2019		2018	2019	2018
Revenue from Outside the Scope of ASC Topic 606
	by Segment
Lower 48		$	1,099	1,534	3,823	4,547
Canada			86	87	427	374
Europe and North Africa			344	276	731	956
Physical contracts meeting the definition of a derivative		$	1,529	1,897	4,981	5,877

		Millions of Dollars
		Three Months Ended			Nine Months Ended
		September 30			September 30
		2019		2018	2019	2018
Revenue from Outside the Scope of ASC Topic 606
	by Product
Crude oil		$	266	267	619	843
Natural gas			1,159	1,522	4,022	4,775
Other			104	108	340	259
Physical contracts meeting the definition of a derivative		$	1,529	1,897	4,981	5,877

Contract with Customer, Asset and Liability [Table Text Block]

	Millions of Dollars
Contract Liabilities
At December 31, 2018	$	206
Contractual payments received		73
Revenue recognized		(199)
At September 30, 2019	$	80

Amounts Recognized in the Consolidated Balance Sheet at September 30, 2019
Noncurrent liabilities	$	80
	$	80

Segment Disclosures and Related Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Disclosures and Related Information [Abstract]

Analysis of Results by Operating Segment

Analysis of Results by Operating Segment
	Millions of Dollars
	Three Months Ended			Nine Months Ended
	September 30			September 30
		2019	2018	2019	2018
Sales and Other Operating Revenues
Alaska	$	1,296	1,493	4,129	4,281
Lower 48		3,728	4,543	11,690	12,347
Intersegment eliminations		(10)	(14)	(33)	(18)
Lower 48		3,718	4,529	11,657	12,329
Canada		633	735	2,173	2,436
Intersegment eliminations		(273)	(308)	(858)	(853)
Canada		360	427	1,315	1,583
Europe and North Africa		1,225	1,574	4,084	4,826
Asia Pacific and Middle East		1,085	1,348	3,458	3,570
Corporate and Other		72	78	216	162
Consolidated sales and other operating revenues	$	7,756	9,449	24,859	26,751

Sales and Other Operating Revenues by Geographic Location
United States	$	5,085	6,025	15,996	16,617
Australia		412	515	1,282	1,258
Canada		360	427	1,315	1,583
China		191	262	593	616
Indonesia		223	234	654	662
Libya		288	264	809	802
Malaysia		258	339	928	1,039
Norway		632	734	1,781	2,112
United Kingdom		305	574	1,494	1,911
Other foreign countries		2	75	7	151
Worldwide consolidated	$	7,756	9,449	24,859	26,751

Sales and Other Operating Revenues by Product
Crude Oil	$	4,612	5,277	14,006	14,503
Natural gas		1,799	2,503	6,717	7,593
Natural gas liquids		156	351	607	847
Other*		1,189	1,318	3,529	3,808
Consolidated sales and other operating revenues by product	$	7,756	9,449	24,859	26,751
*Includes LNG and bitumen.

	Millions of Dollars
	Three Months Ended			Nine Months Ended
		September 30		September 30
		2019	2018	2019	2018
Net Income Attributable to ConocoPhillips
Alaska	$	306	427	1,152	1,369
Lower 48		26	513	425	1,231
Canada		51	34	273	2
Europe and North Africa		2,001	241	2,615	776
Asia Pacific and Middle East		613	577	1,655	1,504
Other International		73	316	285	267
Corporate and Other		(14)	(247)	64	(760)
Consolidated net income attributable to ConocoPhillips	$	3,056	1,861	6,469	4,389

	Millions of Dollars
	September 30		December 31
	2019		2018
Total Assets
Alaska	$	15,513	14,648
Lower 48		14,601	14,888
Canada		6,196	5,748
Europe and North Africa		7,941	9,883
Asia Pacific and Middle East		15,091	16,151
Other International		89	89
Corporate and Other		10,909	8,573
Consolidated total assets	$	70,340	69,980

Supplementary Information - Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2019

Supplementary Information - Condensed Consolidating Financial Information [Abstract]

Condensed Consolidated Income Statement

		Millions of Dollars
		Three Months Ended September 30, 2019
Income Statement		ConocoPhillips	ConocoPhillips Company	Burlington Resources LLC	All Other Subsidiaries	Consolidating Adjustments	Total Consolidated

Revenues and Other Income
Sales and other operating revenues	$	-	3,493	-	4,263	-	7,756
Equity in earnings of affiliates		3,114	728	461	288	(4,301)	290
Gain (loss) on dispositions		-	2,695	-	(910)	-	1,785
Other income		-	136	2	124	-	262
Intercompany revenues		-	34	10	1,323	(1,367)	-
Total Revenues and Other Income		3,114	7,086	473	5,088	(5,668)	10,093

Costs and Expenses
Purchased commodities		-	3,078	-	884	(1,252)	2,710
Production and operating expenses		-	290	-	1,091	(50)	1,331
Selling, general and administrative expenses		1	60	-	26	-	87
Exploration expenses		-	295	-	65	-	360
Depreciation, depletion and amortization		-	159	-	1,407	-	1,566
Impairments		-	12	-	12	-	24
Taxes other than income taxes		-	28	-	209	-	237
Accretion on discounted liabilities		-	4	-	82	-	86
Interest and debt expense		72	109	34	34	(65)	184
Foreign currency transaction (gains) losses		-	(6)	-	(15)	-	(21)
Other expenses		-	35	-	1	-	36
Total Costs and Expenses		73	4,064	34	3,796	(1,367)	6,600
Income before income taxes		3,041	3,022	439	1,292	(4,301)	3,493
Income tax provision (benefit)		(15)	(92)	(5)	534	-	422
Net income		3,056	3,114	444	758	(4,301)	3,071
Less: net income attributable to noncontrolling interests		-	-	-	(15)	-	(15)
Net Income Attributable to ConocoPhillips	$	3,056	3,114	444	743	(4,301)	3,056

Comprehensive Income Attributable to ConocoPhillips	$	3,229	3,287	384	939	(4,610)	3,229


Income Statement		Three Months Ended September 30, 2018

Revenues and Other Income
Sales and other operating revenues	$	-	4,330	-	5,119	-	9,449
Equity in earnings of affiliates		1,903	2,166	481	294	(4,550)	294
Gain on dispositions		-	75	-	38	-	113
Other income (loss)		-	(61)	-	370	-	309
Intercompany revenues		9	34	15	1,597	(1,655)	-
Total Revenues and Other Income		1,912	6,544	496	7,418	(6,205)	10,165

Costs and Expenses
Purchased commodities		-	3,880	-	1,197	(1,547)	3,530
Production and operating expenses		-	298	-	1,084	(15)	1,367
Selling, general and administrative expenses		2	99	-	18	-	119
Exploration expenses		-	41	-	62	-	103
Depreciation, depletion and amortization		-	152	-	1,342	-	1,494
Impairments		-	1	-	43	-	44
Taxes other than income taxes		-	33	-	279	-	312
Accretion on discounted liabilities		-	4	-	85	-	89
Interest and debt expense		72	156	10	41	(93)	186
Foreign currency transaction (gains) losses		(12)	3	(42)	56	-	5
Other expenses		-	6	-	4	-	10
Total Costs and Expenses		62	4,673	(32)	4,211	(1,655)	7,259
Income before income taxes		1,850	1,871	528	3,207	(4,550)	2,906
Income tax provision (benefit)		(11)	(32)	(6)	1,082	-	1,033
Net income		1,861	1,903	534	2,125	(4,550)	1,873
Less: net income attributable to noncontrolling interests		-	-	-	(12)	-	(12)
Net Income Attributable to ConocoPhillips	$	1,861	1,903	534	2,113	(4,550)	1,861

Comprehensive Income Attributable to ConocoPhillips	$	2,056	2,098	612	2,277	(4,987)	2,056
See Notes to Consolidated Financial Statements.

	Millions of Dollars
	Nine Months Ended September 30, 2019
Income Statement	ConocoPhillips		ConocoPhillips Company	Burlington Resources LLC	All Other Subsidiaries	Consolidating Adjustments	Total Consolidated

Revenues and Other Income
Sales and other operating revenues	$	-	10,961	-	13,898	-	24,859
Equity in earnings of affiliates		6,641	4,438	1,467	647	(12,542)	651
Gain (loss) on dispositions		-	2,700	-	(816)	-	1,884
Other income		1	688	3	444	-	1,136
Intercompany revenues		-	83	33	4,266	(4,382)	-
Total Revenues and Other Income		6,642	18,870	1,503	18,439	(16,924)	28,530

Costs and Expenses
Purchased commodities		-	9,699	-	3,134	(3,774)	9,059
Production and operating expenses		1	1,127	1	3,295	(404)	4,020
Selling, general and administrative expenses		7	272	-	95	(5)	369
Exploration expenses		-	389	-	203	-	592
Depreciation, depletion and amortization		-	443	-	4,159	-	4,602
Impairments		-	12	-	14	-	26
Taxes other than income taxes		-	107	-	599	-	706
Accretion on discounted liabilities		-	12	-	247	-	259
Interest and debt expense		211	401	100	69	(199)	582
Foreign currency transaction (gains) losses		-	23	-	(4)	-	19
Other expenses		-	60	-	(2)	-	58
Total Costs and Expenses		219	12,545	101	11,809	(4,382)	20,292
Income before income taxes		6,423	6,325	1,402	6,630	(12,542)	8,238
Income tax provision (benefit)		(46)	(316)	(14)	2,100	-	1,724
Net income		6,469	6,641	1,416	4,530	(12,542)	6,514
Less: net income attributable to noncontrolling interests		-	-	-	(45)	-	(45)
Net Income Attributable to ConocoPhillips	$	6,469	6,641	1,416	4,485	(12,542)	6,469

Comprehensive Income Attributable to ConocoPhillips	$	6,918	7,090	1,588	4,937	(13,615)	6,918


Income Statement	Nine Months Ended September 30, 2018

Revenues and Other Income
Sales and other operating revenues	$	-	11,774	-	14,977	-	26,751
Equity in earnings of affiliates		4,562	5,398	1,360	766	(11,319)	767
Gain on dispositions		-	78	-	97	-	175
Other income		-	230	-	443	-	673
Intercompany revenues		28	124	28	4,188	(4,368)	-
Total Revenues and Other Income		4,590	17,604	1,388	20,471	(15,687)	28,366

Costs and Expenses
Purchased commodities		-	10,571	-	3,758	(4,021)	10,308
Production and operating expenses		-	723	4	3,182	(58)	3,851
Selling, general and administrative expenses		7	254	-	80	(5)	336
Exploration expenses		-	132	-	135	-	267
Depreciation, depletion and amortization		-	427	-	3,917	-	4,344
Impairments		-	(9)	-	30	-	21
Taxes other than income taxes		-	111	-	657	-	768
Accretion on discounted liabilities		-	13	-	253	-	266
Interest and debt expense		219	456	35	121	(284)	547
Foreign currency transaction (gains) losses		22	(6)	38	(47)	-	7
Other expenses		-	348	6	(4)	-	350
Total Costs and Expenses		248	13,020	83	12,082	(4,368)	21,065
Income before income taxes		4,342	4,584	1,305	8,389	(11,319)	7,301
Income tax provision (benefit)		(47)	22	(25)	2,924	-	2,874
Net income		4,389	4,562	1,330	5,465	(11,319)	4,427
Less: net income attributable to noncontrolling interests		-	-	-	(38)	-	(38)
Net Income Attributable to ConocoPhillips	$	4,389	4,562	1,330	5,427	(11,319)	4,389

Comprehensive Income Attributable to ConocoPhillips	$	4,407	4,580	1,149	5,319	(11,048)	4,407
See Notes to Consolidated Financial Statements.

Schedule of Condensed Balance Sheet

	Millions of Dollars
	September 30, 2019
Balance Sheet	ConocoPhillips		ConocoPhillips Company	Burlington Resources LLC	All Other Subsidiaries	Consolidating Adjustments	Total Consolidated

Assets
Cash and cash equivalents	$	-	3,450	-	3,743	-	7,193
Short-term investments		-	400	-	508	-	908
Accounts and notes receivable		5	1,905	2	4,518	(2,814)	3,616
Investment in Cenovus Energy		-	1,951	-	-	-	1,951
Inventories		-	141	-	814	-	955
Prepaid expenses and other current assets		-	188	-	406	-	594
Total Current Assets		5	8,035	2	9,989	(2,814)	15,217
Investments, loans and long-term receivables*		35,374	50,862	16,169	16,666	(109,936)	9,135
Net properties, plants and equipment		-	3,822	-	39,992	-	43,814
Other assets		4	933	227	2,003	(993)	2,174
Total Assets	$	35,383	63,652	16,398	68,650	(113,743)	70,340

Liabilities and Stockholders’ Equity
Accounts payable	$	-	2,869	-	3,116	(2,814)	3,171
Short-term debt		(3)	3	14	107	-	121
Accrued income and other taxes		-	56	-	1,021	-	1,077
Employee benefit obligations		-	415	-	128	-	543
Other accruals		56	348	38	588	-	1,030
Total Current Liabilities		53	3,691	52	4,960	(2,814)	5,942
Long-term debt		3,793	6,671	2,132	2,203	-	14,799
Asset retirement obligations and accrued environmental costs		-	410	-	5,677	-	6,087
Deferred income taxes		-	-	-	5,686	(993)	4,693
Employee benefit obligations		-	1,373	-	413	-	1,786
Other liabilities and deferred credits*		2,949	9,598	989	9,169	(20,911)	1,794
Total Liabilities		6,795	21,743	3,173	28,108	(24,718)	35,101
Retained earnings		32,926	23,494	2,467	11,876	(31,279)	39,484
Other common stockholders’ equity		(4,338)	18,415	10,758	28,573	(57,746)	(4,338)
Noncontrolling interests		-	-	-	93	-	93
Total Liabilities and Stockholders’ Equity	$	35,383	63,652	16,398	68,650	(113,743)	70,340
*Includes intercompany loans.


Balance Sheet	December 31, 2018

Assets
Cash and cash equivalents	$	-	1,428	-	4,487	-	5,915
Short-term investments		-	-	-	248	-	248
Accounts and notes receivable		28	5,646	78	6,707	(8,392)	4,067
Investment in Cenovus Energy		-	1,462	-	-	-	1,462
Inventories		-	184	-	823	-	1,007
Prepaid expenses and other current assets		1	267	-	307	-	575
Total Current Assets		29	8,987	78	12,572	(8,392)	13,274
Investments, loans and long-term receivables*		29,942	47,062	15,199	16,926	(99,465)	9,664
Net properties, plants and equipment		-	4,367	-	41,796	(465)	45,698
Other assets		4	642	227	1,269	(798)	1,344
Total Assets	$	29,975	61,058	15,504	72,563	(109,120)	69,980

Liabilities and Stockholders’ Equity
Accounts payable	$	-	5,098	76	7,113	(8,392)	3,895
Short-term debt		(3)	12	13	99	(9)	112
Accrued income and other taxes		-	85	-	1,235	-	1,320
Employee benefit obligations		-	638	-	171	-	809
Other accruals		85	587	35	552	-	1,259
Total Current Liabilities		82	6,420	124	9,170	(8,401)	7,395
Long-term debt		3,791	7,151	2,143	2,249	(478)	14,856
Asset retirement obligations and accrued environmental costs		-	415	-	7,273	-	7,688
Deferred income taxes		-	-	-	5,819	(798)	5,021
Employee benefit obligations		-	1,340	-	424	-	1,764
Other liabilities and deferred credits*		725	9,277	839	8,126	(17,775)	1,192
Total Liabilities		4,598	24,603	3,106	33,061	(27,452)	37,916
Retained earnings		27,512	18,511	1,113	9,764	(22,890)	34,010
Other common stockholders’ equity		(2,135)	17,944	11,285	29,613	(58,778)	(2,071)
Noncontrolling interests		-	-	-	125	-	125
Total Liabilities and Stockholders’ Equity	$	29,975	61,058	15,504	72,563	(109,120)	69,980
*Includes intercompany loans. See Notes to Consolidated Financial Statements.

Condensed Consolidated Statement of Cash Flows

	Millions of Dollars
	Nine Months Ended September 30, 2019
Statement of Cash Flows		ConocoPhillips	ConocoPhillips Company	Burlington Resources LLC	All Other Subsidiaries	Consolidating Adjustments	Total Consolidated

Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	1,486	6,408	(56)	6,662	(6,378)	8,122

Cash Flows From Investing Activities
Capital expenditures and investments		-	(2,308)	-	(4,329)	1,596	(5,041)
Working capital changes associated with investing activities		-	76	-	(59)	-	17
Proceeds from asset dispositions		-	2,732	763	1,026	(1,601)	2,920
Sales (purchases) of short-term investments		-	(400)	-	(265)	-	(665)
Long-term advances/loans—related parties		-	(810)	-	-	810	-
Collection of advances/loans—related parties		-	141	-	147	(161)	127
Intercompany cash management		2,224	(1,970)	56	(310)	-	-
Other		-	(149)	-	3	-	(146)
Net Cash Provided by (Used in) Investing Activities		2,224	(2,688)	819	(3,787)	644	(2,788)

Cash Flows From Financing Activities
Issuance of debt		-	-	-	810	(810)	-
Repayment of debt		-	(21)	-	(199)	161	(59)
Issuance of company common stock		75	-	-	-	(114)	(39)
Repurchase of company common stock		(2,751)	-	-	-	-	(2,751)
Dividends paid		(1,037)	(1,660)	-	(4,832)	6,492	(1,037)
Other		3	-	(763)	682	5	(73)
Net Cash Used in Financing Activities		(3,710)	(1,681)	(763)	(3,539)	5,734	(3,959)

Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash		-	(12)	-	(56)	-	(68)

Net Change in Cash, Cash Equivalents and Restricted Cash		-	2,027	-	(720)	-	1,307
Cash, cash equivalents and restricted cash at beginning of period*		-	1,428	-	4,723	-	6,151
Cash, Cash Equivalents and Restricted Cash at End of Period	$	-	3,455	-	4,003	-	7,458


Statement of Cash Flows	Nine Months Ended September 30, 2018*

Cash Flows From Operating Activities
Net Cash Provided by (Used in) Operating Activities	$	(169)	791	818	8,762	(1,051)	9,151

Cash Flows From Investing Activities
Capital expenditures and investments		-	(771)	(12)	(4,369)	19	(5,133)
Working capital changes associated with investing activities		-	(77)	-	20	-	(57)
Proceeds from asset dispositions		2,500	379	1,926	199	(4,610)	394
Sales of short-term investments		-	-	-	996	-	996
Long-term advances/loans—related parties		-	(36)	(117)	(10)	163	-
Collection of advances/loans—related parties		-	3,432	-	129	(3,442)	119
Intercompany cash management		514	3,426	(2,564)	(1,376)	-	-
Other		-	-	-	16	-	16
Net Cash Provided by (Used in) Investing Activities		3,014	6,353	(767)	(4,395)	(7,870)	(3,665)

Cash Flows From Financing Activities
Issuance of debt		-	10	-	153	(163)	-
Repayment of debt		-	(4,865)	(53)	(3,494)	3,442	(4,970)
Issuance of company common stock		234	-	-	-	(113)	121
Repurchase of company common stock		(2,073)	-	-	-	-	(2,073)
Dividends paid		(1,009)	-	-	(1,217)	1,217	(1,009)
Other		3	(2,511)	-	(2,141)	4,538	(111)
Net Cash Used in Financing Activities		(2,845)	(7,366)	(53)	(6,699)	8,921	(8,042)

Effect of Exchange Rate Changes on Cash and Cash Equivalents		-	4	-	(44)	-	(40)

Net Change in Cash and Cash Equivalents		-	(218)	(2)	(2,376)	-	(2,596)
Cash and cash equivalents at beginning of period		-	234	3	6,299	-	6,536
Cash and Cash Equivalents at End of Period	$	-	16	1	3,923	-	3,940
*Revised to reclassify certain intercompany distributions from Operating Activities to 'Proceeds from asset dispositions' within Investing Activities based on the nature of the distributions. There was no impact to Total Consolidated results.
See Notes to Consolidated Financial Statements.

Change in Accounting Principles (Details) - USD ($)
$ in Millions

Sep. 30, 2019

Jan. 01, 2019

Dec. 31, 2018

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ 57

Accumulated Other Comprehensive Income , Net of Tax

$ 805

(5,654)

(6,063)

Accounting Standards Update 2016-02 (Topic 842) [Member]

39,484

34,010

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Accounting Standards Update 2016-02 (Topic 842) [Member] | Restatement Adjustment [Member]

$ 805

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

$ 998

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

998

ASU 2018-02 [Member]

Accumulated Other Comprehensive Income , Net of Tax

^[1]

(6,103)

ASU 2018-02 [Member] | Previously Reported [Member]

^[1]

34,050

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Accumulated Other Comprehensive Income , Net of Tax

(6,063)

ASU 2018-02 [Member] | Restatement Adjustment [Member]

$ 34,010

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Accumulated Other Comprehensive Income , Net of Tax

(40)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

$ 40

[1]	For additional information regarding the impact of the adoption of ASU No. 2018-02, see Note 16—Accumulated Other Comprehensive Loss.

Variable Interest Entities (VIEs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	May 31, 2019	Dec. 31, 2016
Variable Interest Entity [Line Items]
Equity in earnings (losses) of affiliates	$ 290	$ 294	$ 651	$ 767
MWCC LLC [Member]
Variable Interest Entity [Line Items]
Term loan backed by a letter of credit						$ 154
MWCC LLC [Member]
Variable Interest Entity [Line Items]
Ownership percentage in equity investment			10.00%
Book value of equity method investment	27		$ 27		$ 30
Equity in earnings (losses) of affiliates	$ (95)
MWCC LLC [Member] \| Letter of Credit [Member]
Variable Interest Entity [Line Items]
Debt at face value - letter of credit						$ 22

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Inventories [Abstract]
Crude oil and natural gas	$ 399	$ 432
Materials and supplies	556	575
Total Inventories	$ 955	$ 1,007

Inventories Textual (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Inventories [Abstract]
LIFO Inventory Amount	$ 230	$ 292
Excess of Replacement or Current Costs over Stated LIFO Value	$ 115	$ 75

Assets Held for Sale or Sold (Details) - USD ($) $ in Millions	1 Months Ended			3 Months Ended		9 Months Ended
	Oct. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jan. 01, 2019	Dec. 31, 2018	May 17, 2017
Long Lived Assets Held For Sale [Line Items]
Income (Loss) from Equity Method Investments				$ (290)	$ (294)	$ (651)	$ (767)
Total Current Liabilities				5,942		5,942			$ 7,395
U.K. Subsidiaries [Member] \| Europe and North Africa Segment [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Proceeds from asset dispositions						2,200
Gain Loss On Sale Of Oil And Gas Property After Tax						2,100
Before-tax gain (loss) on disposition						1,800
Net carrying value				400		400
Amount of PP&E in carrying value of assets				1,600		1,600
Amount of deferred taxes in carrying value of asset				200		200
Disposal Group Including Discontinued Operation Foreign Currency Translation Adjustment				500		500
Working Capital and cash in net carrying value				(100)		(100)
Pretax operating Income (Loss)						400	600
U.K. Subsidiaries [Member] \| Europe and North Africa Segment [Member] \| Operating Segments [Member] \| Scenario Plan [Member]
Long Lived Assets Held For Sale [Line Items]
Proceeds from asset dispositions		$ 2,675
U.K. Subsidiaries [Member] \| Europe and North Africa Segment [Member] \| Operating Segments [Member] \| Asset Retirement Obligation Costs [Member]
Long Lived Assets Held For Sale [Line Items]
Asset retirement obligation at disposal				1,800		$ 1,800
Greater Sunrise Fields [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Proceeds from asset dispositions				$ 350
Owership Percent				30.00%		30.00%
Gain Loss On Sale Of Oil And Gas Property After Tax				$ 52
Foster Creek Christina Lake and western Canada gas properties [Member]
Long Lived Assets Held For Sale [Line Items]
Owership Percent										50.00%
Foster Creek Christina Lake and western Canada gas properties [Member] \| Canada Segment [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Before-tax gain (loss) on disposition						$ 104	$ 95
Cenovus Contingent Payment Trigger						Consideration for the transaction included a five-year uncapped contingent payment. The contingent payment, calculated on a quarterly basis, is $6 million CAD for every $1 CAD by which the WCS quarterly average crude price exceeds $52 CAD per barrel.
Golden Pass [Member] \| Lower 48 [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Owership Percent								12.40%
Income (Loss) from Equity Method Investments			$ 60
Australia West Assets [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Net carrying value				600		$ 600
Amount of PP&E in carrying value of assets				1,200		1,200
Amount of deferred taxes in carrying value of asset				200		200
Working Capital and cash in net carrying value				200		200
Australia West Assets [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member] \| Scenario Plan [Member]
Long Lived Assets Held For Sale [Line Items]
Proceeds from asset dispositions	$ 1,390
Australia West Assets [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member] \| Asset Retirement Obligation Costs [Member]
Long Lived Assets Held For Sale [Line Items]
Asset retirement obligation at disposal				$ 600		$ 600
Barossa project [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Owership Percent				37.50%		37.50%
Barossa project [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member] \| Scenario Plan [Member]
Long Lived Assets Held For Sale [Line Items]
Proceeds from asset dispositions						$ 75
Caldita Field [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Owership Percent				37.50%		37.50%
Darwin LNG Facility [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Owership Percent				56.90%		56.90%
Bayu-Undan Field [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Owership Percent				56.90%		56.90%
Poseidon Field [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Owership Percent				40.00%		40.00%
Athena Field [Member] \| Asia Pacific and Middle East [Member] \| Operating Segments [Member]
Long Lived Assets Held For Sale [Line Items]
Owership Percent				50.00%		50.00%

Investments, Loans and Long-Term Receivables (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Mar. 31, 2019	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2012
Equity method investments
Loan balance with affiliated company			$ 336	$ 468
APLNG [Member]
Equity method investments
Project finance facility, maximum borrowing capacity					$ 8,500
Line Of Credit Facility Value Outstanding			6,700
Book value of equity method investment			$ 7,410
Long Term Debt Refinanced Amount		$ 3,200
Line of Credit Facility, Date of First Required Payment			Mar. 31, 2017
Line of Credit Facility, Frequency of Payments			bi-annual
Line of Credit Facility, Expiration Date			Mar. 31, 2029
APLNG [Member] \| Export-Import Bank of the US [Member]
Equity method investments
Project finance facility, maximum borrowing capacity					2,900
APLNG [Member] \| Export-Import Bank of China [Member]
Equity method investments
Project finance facility, maximum borrowing capacity					2,700
Early Repayment of Senior Debt	$ 1,400	1,000
APLNG [Member] \| Australian and International Commercial Bank Syndicate [Member]
Equity method investments
Project finance facility, maximum borrowing capacity					$ 2,900
Early Repayment of Senior Debt		2,200
APLNG [Member] \| U S Private Placement Bond [Member]
Equity method investments
Project finance facility, maximum borrowing capacity	$ 1,400
Line of Credit Facility, Frequency of Payments			bi-annual
Line of Credit Facility, Expiration Date			Sep. 30, 2030
Line Of Credit Facility Date Of First Required Payment Interest Only			Mar. 31, 2019
Line Of Credit Facility Date Of First Required Payment Principal Only			Sep. 30, 2023
APLNG [Member] \| Commerical Banks [Member]
Equity method investments
Project finance facility, maximum borrowing capacity		2,600
Line of Credit Facility, Date of First Required Payment			Sep. 30, 2019
Line of Credit Facility, Frequency of Payments			bi-annual
Line of Credit Facility, Expiration Date			Mar. 31, 2028
APLNG [Member] \| U S Private Placement Bond Two [Member]
Equity method investments
Project finance facility, maximum borrowing capacity		$ 600
Line of Credit Facility, Frequency of Payments			bi-annual
Line of Credit Facility, Expiration Date			Sep. 30, 2030
Line Of Credit Facility Date Of First Required Payment Interest Only			Sep. 30, 2019
Line Of Credit Facility Date Of First Required Payment Principal Only			Sep. 30, 2023
QG3 [Member]
Equity method investments
Loan balance with affiliated company			$ 335

Investment in Cenovus Energy (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	May 17, 2017
Noncash Or Part Noncash Divestitures [Line Items]
Investment in Cenovus Energy (FV)	$ 1,951	$ 1,951		$ 1,462
Cenovus Energy [Member] \| Equity Securities [Member]
Noncash Or Part Noncash Divestitures [Line Items]
Investment in Cenovus Energy (FV)	$ 1,950	$ 1,950	$ 1,840	$ 1,460
Investment in Cenovus Energy (Cost)					$ 1,960
Investment Owned, Common Stock, price per share	$ 9.38	$ 9.38			$ 9.41
Unrealized Gain (Loss) on Securities	$ 116	$ 489
Noncash Or Part Noncash Divestiture Type Of Consideration Received		Consideration for the transaction included 208 million Cenovus Energy common shares, which, at closing, approximated 16.9 percent of issued and outstanding Cenovus common stock.
Cenovus Energy [Member] \| Foster Creek Christina Lake (FCCL) and western Canada gas properties [Member] \| Equity Securities [Member]
Noncash Or Part Noncash Divestitures [Line Items]
Shares Exchange for Assets Held for Sale					208
Investment Owned, Common Stock, percent of Issued and Outstanding					16.90%

Suspended Wells and Other Exploration Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Suspended Wells [Abstract]
Capitalized cost of suspended wells	$ 973		$ 973		$ 856
Increase (decrease) in capitalized cost of suspended wells			$ 117
Number of wells charged to dry hole expense			No
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense	360	$ 103	$ 592	$ 267
Central Louisiana Austin Chalk Acreage [Member] \| Lower Forty Eight [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Exploration Expense	141
Dry Hole Expense	$ 98

Debt Narrative (Details) - USD ($)	9 Months Ended
Debt Narrative (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Short Term Debt [Line Items]
Commercial Paper Program, Amount Outstanding	$ 221,000,000
Revolving Credit Facility [Member]
Short Term Debt [Line Items]
Maximum borrowing capactiy under revolving credit facility	$ 6,000,000,000.0
Line of Credit Facility, Expiration Date	May 31, 2023
Remaining borrowing capacity under revolving credit facility	$ 6,000,000,000.0
Commercial Paper Program, Amount Outstanding	0	$ 0
Letter of Credit [Member]
Short Term Debt [Line Items]
Commercial Paper Program, Amount Outstanding	0	0
Letter of Credit [Member] \| Maximum [Member]
Short Term Debt [Line Items]
Commercial Paper Program, Capacity	500,000,000
VRDB [Member]
Debt Instrument [Line Items]
Debt Instrument Face Amount	283,000,000
Conoco Phillips Commercial Paper Program [Member] \| Commercial Paper [Member]
Short Term Debt [Line Items]
Maximum borrowing capactiy under revolving credit facility	6,000,000,000.0
Commercial Paper Program, Amount Outstanding	$ 0	$ 0
Conoco Phillips Commercial Paper Program [Member] \| Commercial Paper [Member] \| Maximum [Member]
Short Term Debt [Line Items]
Maturity period of commercial paper (in days)	P90D

Changes in Equity (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

$ 33,074.0

$ 31,222.0

$ 32,064.0

$ 30,801.0

Other Comprehensive Income (Loss), Net of Tax

3,071.0

1,873.0

6,514.0

4,427.0

173.0

195.0

449.0

18.0

(341.0)

(334.0)

(1,037.0)

(1,009.0)

Distributions to noncontrolling interests

(749.0)

(927.0)

(2,751.0)

(2,073.0)

(20.0)

(63.0)

(80.0)

(105.0)

Distributed under benefit plans

32.0

112.0

75.0

236.0

Change in Accounting Principle

0.0

(220.0)

^[1]

1.0

(1.0)

(5.0)

(4.0)

Par Value - Common Stock [Member]

35,239.0

32,079.0

35,239.0

32,079.0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

18.0

Capital in excess of par [Member]

18.0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Distributed under benefit plans

46,922.0

46,746.0

46,879.0

46,622.0

32.0

112.0

75.0

236.0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

46,954.0

46,858.0

46,954.0

46,858.0

Treasury Stock [Member]

(44,906.0)

(41,052.0)

(42,905.0)

(39,906.0)

(749.0)

(927.0)

(2,751.0)

(2,073.0)

1.0

Accumulated Other Comprehensive Income (Loss) [Member]

(45,656.0)

(41,979.0)

(45,656.0)

(41,979.0)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Other Comprehensive Income (Loss), Net of Tax

(5,827.0)

(5,637.0)

(6,063.0)

(5,518.0)

173.0

195.0

449.0

18.0

Change in Accounting Principle

(40.0)

^[2]

58.0

^[1]

Retained Earnings [Member]

(5,654.0)

(5,442.0)

(5,654.0)

(5,442.0)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

36,769.0

30,967.0

34,010.0

29,391.0

3,056.0

1,861.0

6,469.0

4,389.0

Change in Accounting Principle

(341.0)

(334.0)

(1,037.0)

(1,009.0)

40.0

^[2]

(278.0)

^[1]

(1.0)

(2.0)

Noncontrolling Interest [Member]

39,484.0

32,495.0

39,484.0

32,495.0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

98.0

180.0

125.0

194.0

Distributions to noncontrolling interests

15.0

12.0

45.0

38.0

(20.0)

(63.0)

(80.0)

(105.0)

(3.0)

(2.0)

Accumulated depreciation, depletion and amortization

$ 93.0

$ 129.0

$ 93.0

$ 129.0

[1]

*Cumulative effect of the adoption of ASC Topic 606, “Revenue from Contracts with Customers,” and ASU No. 2016-01, “Recognition and

Measurement of Financial Assets and Liabilities,” at January 1, 2018.

[2]

*See Note 2—Changes in Accounting Principles for additional information.

Changes in Equity - Parentheticals (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.31	$ 0.29	$ 0.92	$ 0.86

Guarantees (Details) - USD ($) $ in Millions	9 Months Ended
Guarantees (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Guarantor Obligations [Line Items]
Environmental accruals for known contamination in carrying amount recorded for indemnifications	$ 163.0	$ 178.0
Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Ownership percentage in equity investment	37.50%
Continued development [Member] \| Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 130.0
Continued development [Member] \| Australia Pacific APLNG [Member] \| Maximum [Member]
Guarantor Obligations [Line Items]
Terms of guarantees outstanding	up to 26 years or the life of the venture
Other Guarantees [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 800.0
Other Guarantees [Member] \| U.K. Subsidiaries [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 148.0
Other Guarantees [Member] \| Maximum [Member]
Guarantor Obligations [Line Items]
Terms of guarantees outstanding	up to three years
Indemnifications [Member]
Guarantor Obligations [Line Items]
Environmental accruals for known contamination in carrying amount recorded for indemnifications	$ 30.0
Guarantor Obligations, Current Carrying Value	$ 90.0
Guarantee existing sales agreement of natural gas delivery \| Australia Pacific APLNG [Member] \| Maximum [Member]
Guarantor Obligations [Line Items]
Terms of guarantees outstanding	up to 23 years
Max potential future payments-reckless breach [Member] \| Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 1,300.0
Max potential future payments-prorata share [Member] \| Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	720.0
Finance Reserve Guarantee [Member] \| Australia Pacific APLNG [Member]
Guarantor Obligations [Line Items]
Maximum potential amount of future payments	$ 170.0
Terms of guarantees outstanding	11 years
Guarantor Obligations, Current Carrying Value	$ 14.0

Contingencies and Commitments (Details) - USD ($) $ in Millions	1 Months Ended					9 Months Ended
	Aug. 31, 2019	Mar. 31, 2019	Apr. 30, 2018	Dec. 31, 2017	Feb. 28, 2017	Sep. 30, 2019	Aug. 29, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Total environmental accrual included in balance sheet						$ 163		$ 178
Letters of Credit Outstanding, Amount						221
Ecuador \| Burlington Resources vs The Republic Of Ecuador [Member] \| Penrenco Ecuador Limited [Member]
Loss Contingencies [Line Items]
Settlement Amount Awarded To Other Party Through Third Party						$ 54
Ecuador \| Burlington Resources vs The Republic Of Ecuador [Member] \| Burlington Resources, Inc [Member]
Loss Contingencies [Line Items]
Litigation Settlement Amount Awarded To Other Party					$ 42
Litigation Settlement, Amount Awarded from Other Party					$ 380
Cash Proceeds from Legal Settlements			$ 262	$ 75
Settlement Agreement Payment Installment Total				$ 337
Venezuela \| Conoco Phillips Versus Petroleos De Venezuela [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded from Other Party		$ 8,700
Litigation Award Reduction							$ 227
Litigation Settlement Amount Awarded From Other Party Revised							$ 8,500
Venezuela \| Conoco Phillips Versus Petroleos De Venezuela 2 [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded from Other Party			2,000
Cash Proceeds from Legal Settlements			$ 754
Litigation Settlemen Award Payment Terms						In August 2018, ConocoPhillips entered into a settlement with PDVSA to recover the full amount of this ICC award, plus interest through the payment period, including initial payments totaling approximately $500 million within a period of 90 days from the time of signing of the settlement agreement.
Loss Contingency Damages Sought Value						$ 12
Venezuela \| Conoco Phillips Versus Petroleos DeVenezuela 3 [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded from Other Party	$ 55

Derivative and Financial Instruments - Commodity Balance Sheet (Details) - Commodity Contract [Member] - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	$ 224	$ 410
Other assets [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative assets	39	40
Other accruals [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	236	370
Other liabilities and deferred credits [Member]
Derivatives, Fair Value [Line Items]
Commodity derivative liabilities	$ 31	$ 30

Derivative and Financial Instruments - Commodity GainLoss (Details) - Commodity Contract [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Sales and other operating revenues [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ 4	$ (29)	$ 68	$ (6)
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	3	3	4	12
Purchased commodities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) from commodity derivatives	$ (9)	$ 18	$ (60)	$ 15

Derivative and Financial Instruments - Commodity Notional (Details) - Short [Member] - Commodity Contract [Member] - Bcfe	Sep. 30, 2019	Dec. 31, 2018
Natural gas and power, Fixed price [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	17	17
Natural gas and power, Basis [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Commodity derivatives - volumetric material net exposures	28	1

Derivative and Financial Instruments - FX Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative assets	$ 1	$ 7
Other Accruals [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative liabilities	4	6
Other liabilities and deferred credits [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange derivative liabilities	$ 5	$ 0

Derivative and Financial Instruments - FX GainLoss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Foreign currency transaction gains (losses) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency transaction (gains) losses	$ (24)	$ (2)	$ (3)	$ (5)

Derivative and Financial Instruments - FX Notional (Details) £ in Millions, $ in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2019 CAD ($)	Sep. 30, 2019 GBP (£)	Sep. 30, 2019 USD ($)	Dec. 31, 2018 CAD ($)	Dec. 31, 2018 GBP (£)	Dec. 31, 2018 USD ($)
Trading Activity, Gains and Losses, Net [Line Items]
Description of Foreign Currency Derivative Instruments Not Designated as Hedging Instruments Activities	In December 2017, we entered into foreign exchange zero cost collars buying the right to sell $1.25 billion CAD at $0.707 CAD and selling the right to buy $1.25 billion CAD at $0.842 CAD against the U.S. dollar. The collar expired during the second quarter of 2019 and we entered into new foreign currency exchange forward contracts to sell $1.35 billion CAD at $0.748 CAD against the U.S. dollar.
Buy US Dollar Sell Norwegian Krone [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives			$ 18			$ 0
Sell British pound, Euro [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives \| £		£ 1			£ 0
Sell U S Dollar Buy British pound [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives			$ 0			$ 805
Sell British pound, buy other currencies [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives \| £		£ 0			£ 21
Sell Canadian dollar, buy U.S. dollar [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Net notional position of foreign currency exchange derivatives	$ 1,347			$ 1,242

Derivative and Financial Instruments - Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	$ 7,193	$ 5,915
Short-term Investments excluding Cenovus Energy	908	248
Cash [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	651	876
Cash Equivalents [Member]
Schedule of Held-to-maturity Securities [Line Items]
Short-term Investments excluding Cenovus Energy	908	248
Time Deposits [Member] \| Remaining maturities from 1 to 90 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	3,650	3,509
Short-term Investments excluding Cenovus Energy	384	0
Time Deposits [Member] \| Remaining maturities from 91 to 180 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Short-term Investments excluding Cenovus Energy	450	0
Commercial Paper [Member] \| Remaining maturities from 1 to 90 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	1,550	229
Short-term Investments excluding Cenovus Energy	74	248
US Government Debt Securities [Member] \| Remaining maturities from 1 to 90 days [Member]
Schedule of Held-to-maturity Securities [Line Items]
Cash and cash equivalents	1,342	1,301
Short-term Investments excluding Cenovus Energy	$ 0	$ 0

Derivative and Financial Instruments - Credit Risk (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Aggregate fair value of all derivative instruments in a liability position	$ 47,000,000	$ 62,000,000
Collateral was posted for derivative instruments in a liability position	0
In event of downgrade below investment grade [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Additional collateral, either in the form of cash or letters of credit	$ 45,000,000
Financial instruments [Member] \| Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Terms of financial instruments and trade receivables	90 days
Trade receivables [Member] \| Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Terms of financial instruments and trade receivables	30 days

Fair Value Measurement - FV Hierarchy (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy (FV)	$ 1,951	$ 1,462
Commodity derivative asset, gross	263	450
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy (FV)	1,951	1,462
Commodity derivative asset, gross	263	450
Total assets	2,214	1,912
Commodity derivative liability, gross	267	400
Total liabilities	267	400
Fair Value, Measurements, Recurring [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy (FV)	1,951	1,462
Commodity derivative asset, gross	153	236
Total assets	2,104	1,698
Commodity derivative liability, gross	169	225
Total liabilities	169	225
Fair Value, Measurements, Recurring [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy (FV)	0	0
Commodity derivative asset, gross	86	181
Total assets	86	181
Commodity derivative liability, gross	82	145
Total liabilities	82	145
Fair Value, Measurements, Recurring [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in Cenovus Energy (FV)	0	0
Commodity derivative asset, gross	24	33
Total assets	24	33
Commodity derivative liability, gross	16	30
Total liabilities	$ 16	$ 30

Fair Value Measurement - FV of Commodity Derivatives (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Offsetting Derivative Assets [Abstract]
Assets - gross amounts recognized	$ 263	$ 450
Assets - amounts without right of setoff	7	9
Assets - gross amounts	256	441
Assets - gross amounts offset	171	280
Assets - net amounts presented	85	161
Assets - cash collateral	0	0
Assets - net amounts	85	161
Offsetting Derivative Liabilities [Abstract]
Liabilities - gross amounts recognized	267	400
Liabilities - amounts without right of setoff	0	4
Liabilities - gross amounts recognized	267	396
Liabilities - gross amounts offset	171	280
Liabilities - net amounts presented	96	116
Liabilities - cash collateral	21	10
Liabilities - net amounts	$ 75	$ 106

Fair Value Measurement - Nonrecurring (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	May 31, 2019	Mar. 31, 2019
Fair Value, Disclosure Item Amounts [Domain]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Before-Tax Loss - Equity method investments	$ 95	$ 60
Fair Value Measurements Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	30	171
Fair Value, Inputs, Level 1 [Member] \| Fair Value Measurements Nonrecurring [Member] \| Fair Value, Disclosure Item Amounts [Domain]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure		$ 171
Fair Value, Inputs, Level 2 [Member] \| Fair Value Measurements Nonrecurring [Member] \| Fair Value, Disclosure Item Amounts [Domain]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	$ 30

Fair Value Measurement - FV of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Carrying Amount [Member]
Financial Assets [Abstract]
Investment in Cenovus Energy (FV)	$ 1,951	$ 1,462
Total loans and advances - related parties	336	468
Financial Liabilities [Abstract]
Total debt, excluding capital leases	14,179	14,191
Carrying Amount [Member] \| Commodity Contract [Member]
Financial Assets [Abstract]
Commodity derivatives, assets	92	170
Financial Liabilities [Abstract]
Commodity derivatives, liability	75	110
Investment in Cenovus Energy (FV)	1,951	1,462
Total loans and advances - related parties	336	468
Total debt, excluding capital leases	18,131	16,147
Commodity Contract [Member]
Financial Assets [Abstract]
Commodity derivatives, assets	92	170
Financial Liabilities [Abstract]
Commodity derivatives, liability	$ 75	$ 110

Non-Mineral Leases - Intro (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Finance Lease Obligations		$ 777
Operating Lease, Right-of-Use Asset		57
Operating Lease, Liability	$ 805
Lease, Practical Expedients, Package [true false]	true
Lease Practical Expedient Lessor Single Lease Component	true
Corporate Joint Venture [Member]
FInance lease net assets consolidated on a proportionate basis		420
Finance Lease Obligations		$ 688

Non-Mineral Leases - Balance Sheet (Details) - USD ($)
$ in Millions

Sep. 30, 2019

Jan. 01, 2019

Dec. 31, 2018

$ 60,014

$ 64,899

Property, Plant and Equipment, Net

43,814

45,698

121

112

14,799

14,856

742

Other Liabilities, Current

Other assets (Leases)

2,174

1,344

1,030

1,259

Deferred Credits and Other Liabilities

1,794

1,192

Previously Reported [Member]

805

Property, Plant and Equipment, Gross

1,044

Accumulated depreciation, depletion and amortization

550

Property, Plant and Equipment, Net

494

698

Accounting Standards Update 2016-02 (Topic 842) [Member]

$ 777

Property, Plant and Equipment, Gross

1,069

Accumulated depreciation, depletion and amortization

634

Property, Plant and Equipment, Net

^[1]

435

^[2]

^[2]

656

Other Liabilities, Current

742

Other assets (Leases)

805

249

Deferred Credits and Other Liabilities

556

Accounting Standards Update 2016-02 (Topic 842) [Member] | Restatement Adjustment [Member]

$ 805

Operating Lease, Liability, Current

$ 998

998

$ 998

[1]	* Includes proportionately consolidated finance lease assets (net of accumulated depreciation, depletion and amortization) of $359 million.
[2]	Short-term debt and long-term debt include proportionately consolidated finance lease liabilities of $55 million and $595 million, respectively. *As a result of the sale of two ConocoPhillips U.K. subsidiaries, lease liabilities decreased approximately $0.2 billion in the third quarter of 2019. See Note 5–Asset Dispositions for additional information.

Non-Mineral Leases - Balance Sheet Liabilities (Details) - USD ($)
$ in Millions

Sep. 30, 2019

Dec. 31, 2018

$ 121

$ 112

1,030

1,259

14,799

14,856

1,794

1,192

805

Previously Reported [Member]

742

698

Accounting Standards Update 2016-02 (Topic 842) [Member]

$ 777

^[1]

249

^[1]

656

556

805

Net Income (Loss) Attributable to ConocoPhillips [Abstract]

$ 742

[1]

Non-Mineral Leases - Other Info (Details) $ in Millions	3 Months Ended	9 Months Ended
Non-Mineral Leases - Other Info (Details) $ in Millions	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 99	$ 265
Amortization of right-of-use assets	27	84
Interest on lease liabilities	9	28
Short-term Lease Cost	26	57
Lease Cost Total	$ 161	$ 434
Weighted-average term (years) - Operating Leases	5 years 9 months 7 days	5 years 9 months 7 days
Weighted-average term (years) - Finance Leases	8 years 10 months 28 days	8 years 10 months 28 days
Weighted Average Discount Rate (Percent) - Operating Leases	3.33%	3.33%
Weighted Average Discount Rate (Percent) - Finance Leases	5.61%	5.61%
Cash Flow, Operating Activities, Lessee [Abstract]
Operating cash flows from operating leases		$ 152
Operating cash flows from finance leases		29
Financing cash flows from finance leases		59
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability		300
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability		$ 26

Non-Mineral Leases - Maturities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Operating Lease Liabilities, Payments Due [Abstract]
2019	$ 77
2020	252
2021	190
2022	105
2023	69
Remaining Years	195
Lessee, Operating Lease, Liability, Payments, Due, Total	888
Finance Lease Liabilities, Payments, Due [Abstract]
2019	31
2020	120
2021	103
2022	102
2023	88
Remaining Years	465
Finance Lease Liability, Payments, Due, Total	$ 909
Future Operating Lease Payments Under 840 [Abstract]
2019		$ 248
2020		425
2021		136
2022		319
2023		54
Remaining Years		212
Operating Leases, Future Minimum Payments Due, Total		1,394
Less income from subleases		(7)
Net Minimum Operating Lease Payments		1,387
Capital Lease Obligations [Abstract]
2019		118
2020		116
2021		100
2022		98
2023		87
Remaining Years		453
Capital Leases, Future Minimum Payments Due, Total		972
Less portion representing imputed interest		(195)
Finance Lease Obligations, Total		$ 777

Non-Mineral Leases - Total lease liabilities (Details) $ in Millions	Sep. 30, 2019 USD ($)
Operating Lease Liabilities Gross Difference Amount Abstract
Operating Lease, Liability	$ 805
Interest on operating lease liabilities	(83)
Lessee, Operating Lease, Liability, Payments, Due, Total	888
Finance Lease Liabilities, Gross Difference, Amount [Abstract]
Finance Lease, Liability Total	742
Interest on Finance lease liabilities	(167)
Finance Lease Liability, Payments, Due, Total	$ 909

Non-Mineral Leases - End Notes (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment, Net	$ 43,814	$ 45,698
Short-term Lease Commitment, Amount	72
Short Term Lease Commitment Lease Not Commenced	41
U.K. Subsidiaries [Member]
Increase (Decrease) in Right of Use Assets	200
Increase (Decrease) In Operating Lease Liability	200
Property plant equipment \| Corporate Joint Venture [Member]
Property, Plant and Equipment, Net	359
Short term debt \| Corporate Joint Venture [Member]
Finance Lease, Liability, Current	$ 55
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Debt, Current
Long-term Debt \| Corporate Joint Venture [Member]
Finance Lease, Liability, Noncurrent	$ 595
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term Debt and Capital Lease Obligations

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Defined Benefit Plans, Beginning Balance			$ (361)
Other comprehensive income related to defined benefit plans	$ 72	$ (136)	42	$ (240)
Defined Benefit Plans, Ending Balance	(443)		(443)
Foreign Currency Translation, Beginning Balance			(5,702)
Foreign Currency Translation	245	59	491	(222)
Foreign Currency Translation, Ending Balance	(5,211)		(5,211)
Accumulated Other Comprehensive Income, Beginning Balance			(6,063)
Other Comprehensive Income (Loss), Net of Tax	173	$ 195	449	$ 18
Accumulated Other Comprehensive Income, Ending Balance	$ (5,654)		(5,654)
ASU 2018-02 [Member]
Other Comprehensive Income (Loss), Net of Tax			(40)
ASU 2018-02 [Member] \| Restatement Adjustment [Member]
Other comprehensive income related to defined benefit plans			$ (40)

- Definition

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

+ References + Details

Accumulated Other Comprehensive Income (Loss) Textual (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax	$ 245	$ 59	$ 491	$ (222)
U.K. Subsidiaries [Member]
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax		$ 483

Accumulated Other Comprehensive Income (Loss) - Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Defined Benefit Plans	$ 36	$ 17	$ 66	$ 155
Tax expense of defined benefit plans	$ 12	$ 6	$ 22	$ 43

Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
Cash Flow Information (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Interest	$ 614	$ 584
Income taxes	2,210	1,927
Net Purchases of Short-Term Investments
Short-term investments purchased	(1,894)	(1,705)
Short-term investments sold	1,229	2,701
Net sale (purchases) of short-term investments	$ (665)	$ 996

Employee Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pension Plans Defined Benefit [Member] \| U.S.
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 20	$ 20	$ 59	$ 63
Interest cost	21	22	63	76
Expected return on plan assets	(18)	(22)	(54)	(91)
Amortization of prior service cost (credit)	0	0	0	0
Recognized net actuarial (gain) loss	13	10	39	41
Settlements	37	14	54	161
Curtailments (gain) loss	0	0	0	0
Net periodic benefit cost	73	44	161	250
Pension Plans Defined Benefit [Member] \| Foreign Pension Plans, Defined Benefit [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	19	20	56	63
Interest cost	25	26	77	80
Expected return on plan assets	(34)	(38)	(104)	(118)
Amortization of prior service cost (credit)	0	(1)	(1)	(4)
Recognized net actuarial (gain) loss	7	9	23	27
Settlements	0	0	0	0
Curtailments (gain) loss	(1)	(1)	(1)	(1)
Net periodic benefit cost	16	15	50	47
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	1	0	1	1
Interest cost	1	2	6	6
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	(7)	(9)	(24)	(26)
Recognized net actuarial (gain) loss	(1)	0	(2)	(1)
Settlements	0	0	0	0
Curtailments (gain) loss	0	0	0	0
Net periodic benefit cost	$ (6)	$ (7)	$ (19)	$ (20)

Employee Benefit Plans - Textual (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
U.K. Subsidiaries [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contributions		$ 324
U.S.
Defined Benefit Plan Disclosure [Line Items]
Company contributions		174
Expected company contributions (received and expected to be received)	$ 220	220
Increase (Decrease) In Pension Plan Obligations		$ 108
Pension settlement expense in other comprehensive income	37
U.S. \| Qualified Plan [Member] \| Pension Plans Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate - Net Periodic Benefit Cost		3.10%	4.30%
U.S. \| Nonqualified Plan [Member] \| Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount Rate - Net Periodic Benefit Cost		2.80%	4.05%
Int'l (Pension Benefits) [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contributions		$ 429
Expected company contributions (received and expected to be received)	$ 455	$ 455
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate	1.80%	1.80%	2.90%
Int'l (Pension Benefits) [Member] \| Pension Plans Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan Assets Period Increase (Decrease)	$ (43)

Employee Benefit Plans - Severances (Details) - Employee Severance [Member] $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($)
Restructuring Reserve [Roll Forward]
Balance at begninning of period	$ 48
Increase (Decrease) in Restructuring Reserve	(2)
Payments for Restructuring	22
Restructuring Reserve, Foreign Currency Translation Gain (Loss)	(1)
Balance at end of period	23
Short term supplemental unemployment benefits [Member]
Restructuring Reserve [Roll Forward]
Balance at end of period	$ 6

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Significant transactions with related parties
Related Party Revenue	$ 23	$ 27	$ 70	$ 74
Related Party Purchases	0	25	38	74
Operating expenses and selling, general and administrative expenses	19	13	47	44
Net interest income	$ (3)	$ (4)	$ (10)	$ (11)

Sales and Other Operating Revenue - Transitional Arrangements (Details)	9 Months Ended
	Sep. 30, 2019
Contract with Customer, Timing of Satisfaction of Performance Obligation and Payment	The contracts typically provide for negotiated payments to be made at stated milestones. The payments are not directly related to our performance under the contract and are recorded as deferred revenue to be recognized as revenue when the customer can utilize and benefit from their right to use the license. Payments are received in installments over the construction period.

Sales and Other Operating Revenue - Practical Expedients (Details)	9 Months Ended
	Sep. 30, 2019
Revenue, Practical Expedient [Abstract]
Revenue, Practical Expedient, Remaining Performance Obligation, Description	We have long-term commodity sales contracts which use prevailing market prices at the time of delivery, and under these contracts, the market-based variable consideration for each performance obligation (i.e., delivery of commodity) is allocated to each wholly unsatisfied performance obligation within the contract.
Revenue, Practical Expedient, Initial Application and Transition, Nondisclosure of Transaction Price Allocation to Remaining Performance Obligation [true/false]	true
Revenue, Performance Obligation, Description of Timing	We typically receive payment within 30 days or less (depending on the terms of the invoice) once delivery is made.

Sales and Other Operating Revenue - Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue from contracts with customers	$ 7,756	$ 9,449	$ 24,859	$ 26,751
Physical gas contracts [Member]
Revenue from contracts with customers	1,529	1,897	4,981	5,877
Crude oil product line [Member]
Revenue from contracts with customers	266	267	619	843
Natural Gas Product Line [Member]
Revenue from contracts with customers	1,159	1,522	4,022	4,775
Other Products [Member]
Revenue from contracts with customers	104	108	340	259
Financial Derivative Contracts [Member]
Revenue from contracts with customers	(13)	6	(54)	40
Lower 48 [Member]
Revenue from contracts with customers	3,728	4,543	11,690	12,347
Lower 48 [Member] \| Physical gas contracts [Member]
Revenue from contracts with customers	1,099	1,534	3,823	4,547
Canada Segment [Member] \| Physical gas contracts [Member]
Revenue from contracts with customers	86	87	427	374
Europe and North Africa Segment [Member] \| Physical gas contracts [Member]
Revenue from contracts with customers	344	276	731	956
Accounting Standards Update 2014-09 [Member]
Revenue from contracts with customers	$ 6,240	$ 7,546	$ 19,932	$ 20,834

Sales and Other Operating Revenue - Receivables and Contract LIabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Accounts Receivable, Net	$ 2,566	$ 2,889
Revenue, Performance Obligation, Description of Timing	We typically receive payment within 30 days or less (depending on the terms of the invoice) once delivery is made.
Contract with Customer, Timing of Satisfaction of Performance Obligation and Payment	The contracts typically provide for negotiated payments to be made at stated milestones. The payments are not directly related to our performance under the contract and are recorded as deferred revenue to be recognized as revenue when the customer can utilize and benefit from their right to use the license. Payments are received in installments over the construction period.
Contract with Customer, Liability [Abstract]
Contract with Customer, Liability Beginning Balance	$ 206
Contract with Customer, Liability, Cash Received	(73)
Contract with Customer, Liability, Revenue Recognized	(199)
Contract with Customer, Liability Ending Balance	80
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 199
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation	We expect to recognize the contract liabilities as of September 30, 2019, as revenue between 2021 and 2022.
Long-term Contract with Customer [Member]
Contract with Customer, Liability [Abstract]
Contract with Customer, Liability Ending Balance	$ 80

Segment Disclosures and Related Information - Sales (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 7,756,000,000	$ 9,449,000,000	$ 24,859,000,000	$ 26,751,000,000
Natural Gas [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,799,000,000	2,503,000,000	6,717,000,000	7,593,000,000
Natural Gas Liquids Reserves [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	156,000,000	351,000,000	607,000,000	847,000,000
Crude Oil [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	4,612	5,277	14,006	14,503
Other Products [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,189	1,318	3,529	3,808
U.S.
Segment Reporting Information [Line Items]
Sales and other operating revenues	5,085,000,000	6,025,000,000	15,996,000,000	16,617,000,000
Australia
Segment Reporting Information [Line Items]
Sales and other operating revenues	412,000,000	515,000,000	1,282,000,000	1,258,000,000
Canada
Segment Reporting Information [Line Items]
Sales and other operating revenues	360,000,000	427,000,000	1,315,000,000	1,583,000,000
China
Segment Reporting Information [Line Items]
Sales and other operating revenues	191,000,000	262,000,000	593,000,000	616,000,000
Indonesia
Segment Reporting Information [Line Items]
Sales and other operating revenues	223,000,000	234,000,000	654,000,000	662,000,000
Libya [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	288,000,000	264,000,000	809,000,000	802,000,000
Malaysia
Segment Reporting Information [Line Items]
Sales and other operating revenues	258,000,000	339,000,000	928,000,000	1,039,000,000
Norway
Segment Reporting Information [Line Items]
Sales and other operating revenues	632,000,000	734,000,000	1,781,000,000	2,112,000,000
United Kingdom
Segment Reporting Information [Line Items]
Sales and other operating revenues	305,000,000	574,000,000	1,494,000,000	1,911,000,000
Other Non US Countries
Segment Reporting Information [Line Items]
Sales and other operating revenues	2,000,000	75,000,000	7,000,000	151,000,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	7,756,000,000	9,449,000,000	24,859,000,000	26,751,000,000
Alaska [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,296,000,000	1,493,000,000	4,129,000,000	4,281,000,000
Lower 48 [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	3,728,000,000	4,543,000,000	11,690,000,000	12,347,000,000
Lower 48 [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	3,718,000,000	4,529,000,000	11,657,000,000	12,329,000,000
Lower 48 [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	(10,000,000)	(14,000,000)	(33,000,000)	(18,000,000)
Canada
Segment Reporting Information [Line Items]
Sales and other operating revenues	633,000,000	735,000,000	2,173,000,000	2,436,000,000
Canada \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	360,000,000	427,000,000	1,315,000,000	1,583,000,000
Canada \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	(273,000,000)	(308,000,000)	(858,000,000)	(853,000,000)
Europe and North Africa [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,225,000,000	1,574,000,000	4,084,000,000	4,826,000,000
Asia Pacific and Middle East [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	1,085,000,000	1,348,000,000	3,458,000,000	3,570,000,000
Corporate and Other [Member] \| Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 72,000,000	$ 78,000,000	$ 216,000,000	$ 162,000,000

Segment Disclosures and Related Information - Net Income (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

Dec. 31, 2018

Consolidated net income (loss) attributable to ConocoPhillips

^[1]

$ 3,056

$ 1,861

$ 6,469

$ 4,389

Alaska [Member] | Operating Segments [Member]

70,340

$ 69,980

Net Income (Loss) Attributable to ConocoPhillips [Abstract]

Consolidated net income (loss) attributable to ConocoPhillips

306

427

1,152

1,369

Lower 48 [Member] | Operating Segments [Member]

15,513

14,648

Net Income (Loss) Attributable to ConocoPhillips [Abstract]

Consolidated net income (loss) attributable to ConocoPhillips

513

425

1,231

Canada [Member] | Operating Segments [Member]

14,601

14,888

Net Income (Loss) Attributable to ConocoPhillips [Abstract]

Consolidated net income (loss) attributable to ConocoPhillips

273

Europe and North Africa [Member] | Operating Segments [Member]

6,196

5,748

Net Income (Loss) Attributable to ConocoPhillips [Abstract]

Consolidated net income (loss) attributable to ConocoPhillips

2,001

241

2,615

776

Asia Pacific and Middle East [Member] | Operating Segments [Member]

7,941

9,883

Net Income (Loss) Attributable to ConocoPhillips [Abstract]

Consolidated net income (loss) attributable to ConocoPhillips

613

577

1,655

1,504

Other International [Member] | Operating Segments [Member]

15,091

16,151

Net Income (Loss) Attributable to ConocoPhillips [Abstract]

Consolidated net income (loss) attributable to ConocoPhillips

316

285

267

Corporate and Other [Member] | Corporate, Non-Segment [Member]

Net Income (Loss) Attributable to ConocoPhillips [Abstract]

Consolidated net income (loss) attributable to ConocoPhillips

(14)

$ (247)

$ (760)

$ 10,909

$ 8,573

[1]	See Notes to Consolidated Financial Statements.

Segment Disclosures - Textual (Details)	9 Months Ended
Segment Disclosures - Textual (Details)	Sep. 30, 2019
Segment Disclosures and Related Information [Abstract]
Number of Operating Segments	6

Segment Disclosures and Related Information - Assets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets [Abstract]
Consolidated total assets	$ 70,340	$ 69,980

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Examination [Line Items]
Effective tax rate	12.00%	36.00%	21.00%	39.00%
Adjustment to valuation allowances: increase (decrease)	$ (32)	$ (16)	$ (224)	$ 61
Income Tax Expense (Benefit)	422	$ 1,033	1,724	$ 2,874
U.K. Subsidiaries [Member]
Income Tax Examination [Line Items]
Income Tax Expense (Benefit)	(28)		$ (262)
Malaysia Block G [Member]
Income Tax Examination [Line Items]
Income Tax Expense (Benefit)	$ (164)

Supplementary Information - Condensed Consolidating Financial Information (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Apr. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Collection of advances/loans-related parties		$ 127	$ 119
ConocoPhillips - [Member]
Condensed Financial Statements, Captions [Line Items]
Collection of advances/loans-related parties	$ 1,700
ConocoPhillips Company [Member]
Condensed Financial Statements, Captions [Line Items]
Collection of advances/loans-related parties	$ 3,300
ConocoPhillips Company [Member] \| ConocoPhillips - [Member]
Condensed Financial Statements, Captions [Line Items]
Ownership Percentage by Parent		100.00%
Burlington Resources L L C [Member] \| ConocoPhillips Company [Member]
Condensed Financial Statements, Captions [Line Items]
Ownership Percentage by Parent		100.00%

Supplementary Information - Condensed Consolidating Financial Information - Inc Stmt (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Sep. 30, 2019

Sep. 30, 2018

$ 7,756

$ 9,449

$ 24,859

$ 26,751

290

294

651

767

1,785

113

1,884

175

262

309

1,136

673

10,093

10,165

28,530

28,366

2,710

3,530

9,059

10,308

1,331

1,367

4,020

3,851

119

369

336

360

103

592

267

1,566

1,494

4,602

4,344

237

312

706

768

259

266

184

186

582

547

(21)

350

6,600

7,259

20,292

21,065

3,493

2,906

8,238

7,301

422

1,033

1,724

2,874

Less: net income attributable to noncontrolling interests

3,071

1,873

6,514

4,427

(15)

(12)

(45)

(38)

Comprehensive Income (Loss) Attributable to ConocoPhillips

^[1]

3,056

1,861

6,469

4,389

^[1]

3,229

2,056

6,918

4,407

ConocoPhillips - [Member]

3,114

1,903

6,641

4,562

3,114

1,912

6,642

4,590

211

219

(12)

219

248

3,041

1,850

6,423

4,342

(15)

(11)

(46)

(47)

Less: net income attributable to noncontrolling interests

3,056

1,861

6,469

4,389

Comprehensive Income (Loss) Attributable to ConocoPhillips

3,056

1,861

6,469

4,389

3,229

2,056

6,918

4,407

Consolidating Adjustments [Member]

(4,301)

(4,550)

(12,542)

(11,319)

(1,367)

(1,655)

(4,382)

(4,368)

(5,668)

(6,205)

(16,924)

(15,687)

(1,252)

(1,547)

(3,774)

(4,021)

(50)

(15)

(404)

(58)

(5)

(65)

(93)

(199)

(284)

(1,367)

(1,655)

(4,382)

(4,368)

(4,301)

(4,550)

(12,542)

(11,319)

Less: net income attributable to noncontrolling interests

(4,301)

(4,550)

(12,542)

(11,319)

Comprehensive Income (Loss) Attributable to ConocoPhillips

(4,301)

(4,550)

(12,542)

(11,319)

(4,610)

(4,987)

(13,615)

(11,048)

Reportable Legal Entities [Member] | ConocoPhillips Company [Member]

3,493

4,330

10,961

11,774

728

2,166

4,438

5,398

2,695

2,700

136

(61)

688

230

124

7,086

6,544

18,870

17,604

3,078

3,880

9,699

10,571

290

298

1,127

723

272

254

295

389

132

159

152

443

427

(9)

107

111

109

156

401

456

(6)

348

4,064

4,673

12,545

13,020

3,022

1,871

6,325

4,584

(92)

(32)

(316)

Less: net income attributable to noncontrolling interests

3,114

1,903

6,641

4,562

Comprehensive Income (Loss) Attributable to ConocoPhillips

3,114

1,903

6,641

4,562

3,287

2,098

7,090

4,580

Reportable Legal Entities [Member] | Burlington Resources L L C [Member]

461

481

1,467

1,360

473

496

1,503

1,388

100

(42)

(32)

101

439

528

1,402

1,305

(5)

(6)

(14)

(25)

Less: net income attributable to noncontrolling interests

444

534

1,416

1,330

Comprehensive Income (Loss) Attributable to ConocoPhillips

444

534

1,416

1,330

384

612

1,588

1,149

Reportable Legal Entities [Member] | All Other Subsidiaries [Member]

4,263

5,119

13,898

14,977

288

294

647

766

(910)

(816)

124

370

444

443

1,323

1,597

4,266

4,188

5,088

7,418

18,439

20,471

884

1,197

3,134

3,758

1,091

1,084

3,295

3,182

203

135

1,407

1,342

4,159

3,917

209

279

599

657

247

253

121

(15)

(4)

(47)

(2)

(4)

3,796

4,211

11,809

12,082

1,292

3,207

6,630

8,389

534

1,082

2,100

2,924

Less: net income attributable to noncontrolling interests

758

2,125

4,530

5,465

(15)

(12)

(45)

(38)

Comprehensive Income (Loss) Attributable to ConocoPhillips

743

2,113

4,485

5,427

$ 939

$ 2,277

$ 4,937

$ 5,319

[1]	See Notes to Consolidated Financial Statements.

Supplementary Information - Condensed Consolidating Financial Information - Bal Sheet (Details) - USD ($)

Sep. 30, 2019

Dec. 31, 2018

Assets

$ 7,193,000,000

$ 5,915,000,000

908,000,000

248,000,000

3,616,000,000

4,067,000,000

1,951,000,000

1,462,000,000

955,000,000

1,007,000,000

594,000,000

575,000,000

15,217,000,000

13,274,000,000

9,135,000,000

9,664,000,000

43,814,000,000

45,698,000,000

2,174,000,000

1,344,000,000

70,340,000,000

69,980,000,000

3,171,000,000

3,895,000,000

121,000,000

112,000,000

1,077,000,000

1,320,000,000

543,000,000

809,000,000

1,030,000,000

1,259,000,000

5,942,000,000

7,395,000,000

Asset retirement obligations and accrued environmental costs

14,799,000,000

14,856,000,000

6,087,000,000

7,688,000,000

4,693,000,000

5,021,000,000

1,786,000,000

1,764,000,000

1,794,000,000

1,192,000,000

35,101,000,000

37,916,000,000

39,484,000,000

34,010,000,000

(4,338,000,000)

(2,071,000,000)

93,000,000

125,000,000

ConocoPhillips - [Member]

^[1]

70,340,000,000

69,980,000,000

Assets

5,000,000

28,000,000

1,000,000

5,000,000

29,000,000

35,374

29,942,000,000

4,000,000

35,383,000,000

29,975,000,000

(3,000,000)

56,000,000

85,000,000

53,000,000

82,000,000

Asset retirement obligations and accrued environmental costs

3,793,000,000

3,791,000,000

2,949,000,000

725,000,000

6,795,000,000

4,598,000,000

32,926,000,000

27,512,000,000

(4,338,000,000)

(2,135,000,000)

Consolidating Adjustments [Member]

35,383,000,000

29,975,000,000

Assets

(2,814,000,000)

(8,392,000,000)

(2,814,000,000)

(8,392,000,000)

(109,936)

(99,465,000,000)

(465,000,000)

(993,000,000)

(798,000,000)

(113,743,000,000)

(109,120,000,000)

(2,814,000,000)

(8,392,000,000)

(9,000,000)

(2,814,000,000)

(8,401,000,000)

Asset retirement obligations and accrued environmental costs

(478,000,000)

(993,000,000)

(798,000,000)

(20,911,000,000)

(17,775,000,000)

(24,718,000,000)

(27,452,000,000)

(31,279,000,000)

(22,890,000,000)

(57,746,000,000)

(58,778,000,000)

Reportable Legal Entities [Member] | ConocoPhillips Company [Member]

(113,743,000,000)

(109,120,000,000)

Assets

3,450,000,000

1,428,000,000

400,000,000

1,905,000,000

5,646,000,000

1,951,000,000

1,462,000,000

141,000,000

184,000,000

188,000,000

267,000,000

8,035,000,000

8,987,000,000

50,862,000,000

47,062,000,000

3,822,000,000

4,367,000,000

933,000,000

642,000,000

63,652,000,000

61,058,000,000

2,869,000,000

5,098,000,000

3,000,000

12,000,000

56,000,000

85,000,000

415,000,000

638,000,000

348,000,000

587,000,000

3,691,000,000

6,420,000,000

Asset retirement obligations and accrued environmental costs

6,671,000,000

7,151,000,000

410,000,000

415,000,000

1,373,000,000

1,340,000,000

9,598,000,000

9,277,000,000

21,743,000,000

24,603,000,000

23,494,000,000

18,511,000,000

18,415,000,000

17,944,000,000

Reportable Legal Entities [Member] | Burlington Resources L L C [Member]

63,652,000,000

61,058,000,000

Assets

2,000,000

78,000,000

2,000,000

78,000,000

16,169,000,000

15,199,000,000

227,000,000

16,398,000,000

15,504,000,000

76,000,000

14,000,000

13,000,000

38,000,000

35,000,000

52,000,000

124,000,000

Asset retirement obligations and accrued environmental costs

2,132,000,000

2,143,000,000

989,000,000

839,000,000

3,173,000,000

3,106,000,000

2,467,000,000

1,113,000,000

10,758,000,000

11,285,000,000

Reportable Legal Entities [Member] | All Other Subsidiaries [Member]

16,398,000,000

15,504,000,000

Assets

3,743,000,000

4,487,000,000

508,000,000

248,000,000

4,518,000,000

6,707,000,000

814,000,000

823,000,000

406,000,000

307,000,000

9,989,000,000

12,572,000,000

16,666,000,000

16,926,000,000

39,992,000,000

41,796,000,000

2,003,000,000

1,269,000,000

68,650,000,000

72,563,000,000

3,116,000,000

7,113,000,000

107,000,000

99,000,000

1,021,000,000

1,235,000,000

128,000,000

171,000,000

588,000,000

552,000,000

4,960,000,000

9,170,000,000

Asset retirement obligations and accrued environmental costs

2,203,000,000

2,249,000,000

5,677,000,000

7,273,000,000

5,686,000,000

5,819,000,000

413,000,000

424,000,000

9,169,000,000

8,126,000,000

28,108,000,000

33,061,000,000

11,876,000,000

9,764,000,000

28,573,000,000

29,613,000,000

93,000,000

125,000,000

$ 68,650,000,000

$ 72,563,000,000

[1]	See Notes to Consolidated Financial Statements.

Supplementary Information - Condensed Consolidating Financial Information - Cash Flow (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2019

Sep. 30, 2018

Net cash provided by (used in) operating activities

$ 8,122

$ 9,151

(5,041)

(5,133)

(57)

2,920

394

(665)

996

127

119

Net Cash Provided by (Used in) Investing Activities

(146)

(2,788)

(3,665)

(59)

(4,970)

(39)

121

(2,751)

(2,073)

(1,037)

(1,009)

Net Cash Provided by (Used in) Financing Activities

(73)

(111)

(3,959)

(8,042)

Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash

(68)

(40)

Net Change in Cash and Cash Equivalents and Restricted Cash

1,307

(2,596)

Cash and Cash Equivalents and Restricted Cash at beginning of period

6,151

^[1]

6,536

Cash and Cash Equivalents and Restricted Cash at end of period

7,458

^[2]

3,940

ConocoPhillips - [Member]

Net cash provided by (used in) operating activities

1,486

(169)

2,500

2,224

514

Net Cash Provided by (Used in) Investing Activities

2,224

3,014

234

(2,751)

(2,073)

(1,037)

(1,009)

Net Cash Provided by (Used in) Financing Activities

(3,710)

(2,845)

Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash

Net Change in Cash and Cash Equivalents and Restricted Cash

Cash and Cash Equivalents and Restricted Cash at beginning of period

Cash and Cash Equivalents and Restricted Cash at end of period

Reportable Legal Entities [Member] | ConocoPhillips Company [Member]

Net cash provided by (used in) operating activities

6,408

791

(2,308)

(771)

(77)

2,732

379

(400)

(810)

(36)

141

3,432

(1,970)

3,426

Net Cash Provided by (Used in) Investing Activities

(149)

(2,688)

6,353

(21)

(4,865)

(1,660)

Net Cash Provided by (Used in) Financing Activities

(2,511)

(1,681)

(7,366)

Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash

(12)

Net Change in Cash and Cash Equivalents and Restricted Cash

2,027

(218)

Cash and Cash Equivalents and Restricted Cash at beginning of period

1,428

234

Cash and Cash Equivalents and Restricted Cash at end of period

3,455

Reportable Legal Entities [Member] | Burlington Resources LLC [Member]

Net cash provided by (used in) operating activities

(56)

818

(12)

763

1,926

(117)

(2,564)

Net Cash Provided by (Used in) Investing Activities

819

(767)

(53)

Net Cash Provided by (Used in) Financing Activities

(763)

(763)

(53)

Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash

Net Change in Cash and Cash Equivalents and Restricted Cash

(2)

Cash and Cash Equivalents and Restricted Cash at beginning of period

Cash and Cash Equivalents and Restricted Cash at end of period

Reportable Legal Entities [Member] | All Other Subsidiaries [Member]

Net cash provided by (used in) operating activities

6,662

8,762

(4,329)

(4,369)

(59)

1,026

199

(265)

996

(10)

147

129

(310)

(1,376)

Net Cash Provided by (Used in) Investing Activities

(3,787)

(4,395)

810

153

(199)

(3,494)

(4,832)

(1,217)

Net Cash Provided by (Used in) Financing Activities

682

(2,141)

(3,539)

(6,699)

Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash

(56)

(44)

Net Change in Cash and Cash Equivalents and Restricted Cash

(720)

(2,376)

Cash and Cash Equivalents and Restricted Cash at beginning of period

4,723

6,299

Cash and Cash Equivalents and Restricted Cash at end of period

4,003

3,923

Consolidating Adjustments [Member]

Net cash provided by (used in) operating activities

(6,378)

(1,051)

1,596

(1,601)

(4,610)

810

163

(161)

(3,442)

Net Cash Provided by (Used in) Investing Activities

644

(7,870)

(810)

(163)

161

3,442

(114)

(113)

6,492

1,217