Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2025

Business Combination, Asset Acquisition And Dispositions [Abstract]


Total Fair Value	Millions of Dollars
Value of ConocoPhillips common stock issued*	$	15,972
Cash transferred at close**	451
Value attributable to Marathon Oil share-based awards	67
Other liabilities incurred***	17
Total Fair Value (Millions)	$	16,507

*Represents the fair value of approximately 143 million shares of ConocoPhillips common stock issued to Marathon Oil stockholders. The fair value is based on the number of eligible shares of Marathon Oil common stock at a 0.255 exchange ratio and ConocoPhillips' average stock price on November 22, 2024, which was $111.93.

**Cash transferred at close primarily represents funds contributed to Marathon Oil for repayment of Marathon Oil's estimated commercial paper liabilities as of the closing date.

***Liabilities incurred are related to cash settled share-based awards and payment of cash in lieu of fractional Marathon Oil shares outstanding.

Schedule of Assets Acquired and Liabilities Assumed


Assets Acquired	Millions of Dollars
Cash and cash equivalents	$	385
Accounts receivable, net	982
Inventories	339

Investments and long-term receivables	562
Net properties, plants and equipment	24,203
Other assets	201
Total assets acquired	$	26,672

Liabilities Assumed
Accounts payable	$	1,183
Accrued income and other taxes	201
Employee benefit obligations	187

Long-term debt	4,719
Asset retirement obligations	781
Deferred income taxes	2,488
Other liabilities	606
Total liabilities assumed	$	10,165
Net assets acquired	$	16,507

Schedule of Supplemental Pro Forma Financial Information

The following table summarizes the unaudited supplemental pro forma financial information for the three- and six-month periods ended June 30, 2024, as if we had completed the acquisition on January 1, 2023.


	Millions of Dollars
	Three Months Ended June 30, 2024				Six Months Ended June 30, 2024
	As reported		Pro Forma Marathon Oil	Pro Forma Combined	As reported		Pro Forma Marathon Oil	Pro Forma Combined
Supplemental Pro Forma (unaudited)
Total Revenues and Other Income	$	14,136	1,707	15,843	$	28,612	3,258	31,870
Net Income (Loss)	2,329		450	2,779	4,880		794	5,674

Earnings per share:
Basic net income (loss)	$	1.99		2.11	$	4.15		4.30
Diluted net income (loss)	1.98			2.11	4.14			4.29

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

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