2.0.0.10 false Investments, Loans and Long-Term Receivables 0206 - Disclosure - Investments, Loans and Long-Term Receivables true false false false 1 usd $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 Investments, Loans and Long-Term Receivables [Abstract] 0 cop_InvestmentsLoansAndLongTermReceivablesAbstract cop false na duration string Investments, Loans and Long-Term Receivables. false false false false false true false false false false false false 1 false false false false 0 0 false false false Investments, Loans and Long-Term Receivables. false 3 Note 6 - Investments, Loans and Long-Term Receivables 1 us-gaap_EquityMethodInvestmentsDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 20pt"><b>Note 6—Investments, Loans and Long-Term Receivables</b> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt"><b>LUKOIL</b><br /> Our ownership interest in LUKOIL was 20 percent at March 31, 2010, based on 851 million shares authorized and issued. For financial reporting under U.S. GAAP, treasury shares held by LUKOIL are not considered outstanding for determining our equity method ownership interest in LUKOIL. Our ownership interest, based on estimated shares outstanding, was 20.09 percent at March 31, 2010. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt">At March 31, 2010, the book value of our ordinary share investment in LUKOIL was $6,809 million. Our 20 percent share of the net assets of LUKOIL was estimated to be $11,262 million. A majority of this negative basis difference of $4,453 million is being amortized on a straight-line basis over a 22-year useful life as an increase to equity earnings. On March 31, 2010, the closing price of LUKOIL shares on the London Stock Exchange was $56.70 per share, making the total market value of our LUKOIL investment $9,645 million. For additional information about accounting for our LUKOIL investment, see Note 2—Changes in Accounting Principles. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt"><b>Loans to Related Parties</b><br /> As part of our normal ongoing business operations and consistent with industry practice, we invest and enter into numerous agreements with other parties to pursue business opportunities, which share costs and apportion risks among the parties as governed by the agreements. Included in such activity are loans made to certain affiliated companies. Significant loans to affiliated companies at March 31, 2010, included the following: </div> <div style="margin-top: 10pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="2%" style="background: transparent"> </td> <td width="3%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$691 million in loan financing to Freeport LNG Development, L.P.</td> </tr> <tr> <td style="font-size: 1pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="2%" style="background: transparent"> </td> <td width="3%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$275 million in loan financing at March 2010 exchange rates to Varandey Terminal Company.</td> </tr> <tr> <td style="font-size: 1pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="2%" style="background: transparent"> </td> <td width="3%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$1,051 million in project financing and an additional $91 million of accrued interest to Qatargas 3.</td> </tr> <tr> <td style="font-size: 1pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="2%" style="background: transparent"> </td> <td width="3%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$550 million in loan financing to WRB Refining LLC.</td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt">The long-term portion of these loans are included in the “Loans and advances—related parties” line on the consolidated balance sheet, while the short-term portion is in “Accounts and notes receivable—related parties.” </div> <div align="left" style="font-size: 10pt; margin-top: 10pt"><b>Other Investments</b><br /> We have investments remeasured at fair value on a recurring basis to support certain nonqualified deferred compensation plans. The fair value of these assets at March 31, 2010, was $329 million, and substantially the entire value is categorized in Level 1 of the fair value hierarchy. These investments are measured at fair value using a market approach based on quotations from national securities exchanges. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt">Merey Sweeny, L.P. (MSLP) is a limited partnership that owns a 70,000 barrel-per-day delayed coker and related facilities at the Sweeny Refinery used to produce fuel-grade petroleum coke. Prior to August 28, 2009, MSLP was owned 50/50 by us and Petróleos de Venezuela S.A. (PDVSA). Under the agreements that govern the relationships between the partners, certain defaults by PDVSA with respect to supply of crude oil to the Sweeny Refinery gave us the right to acquire PDVSA’s 50 percent ownership interest in MSLP. On August 28, 2009, we exercised that right. PDVSA recently initiated arbitration in the International Chamber of Commerce challenging our actions. We continue to use the equity method of accounting for our investment in MSLP. </div> </div>  <!-- Begin Block Tagged Note false false false Equity investment disclosure, or group of investments for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20% of the voting stock and the investment is accounted for using the equity method, and the reasons why it is. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 false false 1 2 false UnKnown UnKnown UnKnown false true