2.2.0.7 false Impairments 0208 - Disclosure - Impairments true false false false 1 USD false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Pure Standard http://www.xbrl.org/2003/instance pure xbrli 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Impairments [Abstract] 0 cop_ImpairmentOfLongLivedAssetsAbstract cop false na duration Impairment of long lived assets. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string Impairment of long lived assets. false 3 Impairments 1 cop_DetailsOfImpairmentOfLongLivedAssetsTextBlock cop false na duration For long-lived assets, disclosures may include a description of the impaired long-lived asset and facts and circumstances... 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: 10.5pt; margin-top: 21pt"><b>Note 8—Impairments</b> </div> <div align="left" style="font-size: 10.5pt; margin-top: 10.5pt">During the first nine months of 2010 and 2009, we recognized the following before-tax impairment charges: </div> <div align="center"> <table style="font-size: 10.5pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 10.5pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">Millions of Dollars</td> <td> </td> </tr> <tr style="font-size: 10.5pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Three Months Ended</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Nine Months Ended</td> <td> </td> </tr> <tr style="font-size: 10.5pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">September 30</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">September 30</td> <td> </td> </tr> <tr style="font-size: 10.5pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>2010</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">2009</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"><b>2010</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">2009</td> <td> </td> </tr>   <tr style="font-size: 1px"> <td> </td> <td> </td> <td colspan="6" align="left" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td colspan="6" align="left" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">E&P </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:25px; text-indent:-15px">United States </div></td> <td> </td> <td align="left"><b>$  </b></td> <td align="right"><b>29</b></td> <td> </td> <td> </td> <td> </td> <td align="right">-</td> <td> </td> <td> </td> <td> </td> <td align="right"><b>29</b></td> <td> </td> <td> </td> <td> </td> <td align="right">-</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:25px; text-indent:-15px">International </div></td> <td> </td> <td> </td> <td align="right"><b>4</b></td> <td> </td> <td> </td> <td> </td> <td align="right">-</td> <td> </td> <td> </td> <td> </td> <td align="right"><b>5</b></td> <td> </td> <td> </td> <td> </td> <td align="right">59</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">R&M </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:25px; text-indent:-15px">United States </div></td> <td> </td> <td> </td> <td align="right"><b>-</b></td> <td> </td> <td> </td> <td> </td> <td align="right">55</td> <td> </td> <td> </td> <td> </td> <td align="right"><b>17</b></td> <td> </td> <td> </td> <td> </td> <td align="right">50</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:25px; text-indent:-15px">International </div></td> <td> </td> <td> </td> <td align="right"><b>-</b></td> <td> </td> <td> </td> <td> </td> <td align="right">-</td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1,600</b></td> <td> </td> <td> </td> <td> </td> <td align="right">-</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Emerging Businesses </div></td> <td> </td> <td> </td> <td align="right"><b>26</b></td> <td> </td> <td> </td> <td> </td> <td align="right">-</td> <td> </td> <td> </td> <td> </td> <td align="right"><b>31</b></td> <td> </td> <td> </td> <td> </td> <td align="right">-</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Corporate </div></td> <td> </td> <td> </td> <td align="right"><b>-</b></td> <td> </td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td> </td> <td align="right"><b>-</b></td> <td> </td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="16" align="left" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td align="left"><b>$  </b></td> <td align="right"><b>59</b></td> <td> </td> <td> </td> <td> </td> <td align="right">56</td> <td> </td> <td> </td> <td> </td> <td align="right"><b>1,682</b></td> <td> </td> <td> </td> <td> </td> <td align="right">110</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="16" align="left" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 10.5pt; margin-top: 21pt"><u><i>2010</i></u> </div> <div align="left" style="font-size: 10.5pt">The nine-month period of 2010 included the $1,502 million impairment of our refinery in Wilhelmshaven, Germany, due to cancelled plans for a project to upgrade the refinery, and a $98 million impairment as a result of our decision to end our participation in a new refinery project in Yanbu Industrial City, Saudi Arabia. </div> <div align="left" style="font-size: 10.5pt; margin-top: 10.5pt"><u><i>2009</i></u> </div> <div align="left" style="font-size: 10.5pt">In the second quarter of 2009, we recorded a noncash charge of $51 million before- and after-tax related to the full impairment of our exploration and production investments in Ecuador, due to their expropriation. An arbitration hearing on case merits is scheduled for March 2011, with a decision on case merits expected in December 2011. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10.5pt; margin-top: 10.5pt"><b>Fair Value Remeasurements</b> </div> <div align="left" style="font-size: 10.5pt; margin-top: 10.5pt">The following table shows the values of assets at September 30, 2010, and December 31, 2009, by major category, measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition: </div> <div align="center"> <table style="font-size: 10.5pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="2%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 10.5pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">Millions of Dollars</td> <td> </td> </tr> <tr style="font-size: 10.5pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Fair Value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 10.5pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">Measurements Using</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 10.5pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Level 1</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Level 3</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2">Before-Tax</td> <td> </td> </tr> <tr style="font-size: 10.5pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2" style="border-bottom: 1px solid #000000">Fair Value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2" style="border-bottom: 1px solid #000000">Inputs</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="right" colspan="2" style="border-bottom: 1px solid #000000">Inputs</td> <td> </td> <td> </td> <td nowrap="nowrap" align="right" colspan="2" style="border-bottom: 1px solid #000000">Loss</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px"><b>September 30, 2010</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Net properties, plants and equipment (held for use) </div></td> <td> </td> <td align="left"><b>$</b>  </td> <td align="right"><b>297</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>-</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>297</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right"><b>1,588</b></td> <td nowrap="nowrap">*</td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Net properties, plants and equipment (held for sale) </div></td> <td> </td> <td> </td> <td align="right"><b>23</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>23</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>-</b></td> <td> </td> <td> </td> <td> </td> <td align="right"><b>43</b></td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="16" align="left" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px"><b>December 31, 2009</b> </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Net properties, plants and equipment (held for use) </div></td> <td> </td> <td align="left">$  </td> <td align="right">210</td> <td> </td> <td> </td> <td> </td> <td align="right">-</td> <td> </td> <td> </td> <td> </td> <td align="right">210</td> <td> </td> <td> </td> <td> </td> <td align="right">385</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Net properties, plants and equipment (held for sale) </div></td> <td> </td> <td> </td> <td align="right">121</td> <td> </td> <td> </td> <td> </td> <td align="right">35</td> <td> </td> <td> </td> <td> </td> <td align="right">86</td> <td> </td> <td> </td> <td> </td> <td align="right">62</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Equity method investments </div></td> <td> </td> <td> </td> <td align="right">1,784</td> <td> </td> <td> </td> <td> </td> <td align="right">-</td> <td> </td> <td> </td> <td> </td> <td align="right">1,784</td> <td> </td> <td> </td> <td> </td> <td align="right">286</td> <td> </td> </tr> <tr style="font-size: 1px"> <td colspan="16" align="left" style="border-top: 1px solid #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 8pt; margin-top: 1pt"><i>*Includes a $55 million leasehold impairment charged to exploration expenses.</i> </div> <div align="left" style="font-size: 10.5pt; margin-top: 21pt"><u><i>2010</i></u> </div> <div align="left" style="font-size: 10.5pt">During 2010, net properties, plants and equipment held for use with a carrying amount of $1,885 million were written down to a fair value of $297 million, resulting in a before-tax loss of $1,588 million. The fair values were determined by the use of internal discounted cash flow models using estimates of future production, prices, costs and a discount rate believed to be consistent with those used by principal market participants and cash flow multiples for similar assets and alternative use. </div> <div align="left" style="font-size: 10.5pt; margin-top: 10.5pt">During 2010, net properties, plants and equipment held for sale with a carrying amount of $64 million were written down to their fair value of $23 million less cost to sell of $2 million for a net $21 million, resulting in a before-tax loss of $43 million. The fair values were primarily determined by binding negotiated selling prices with third parties, with some adjusted for the fair value of certain liabilities retained. </div> <div align="left" style="font-size: 10.5pt; margin-top: 10.5pt"><u><i>2009</i></u> </div> <div align="left" style="font-size: 10.5pt">During 2009, net properties, plants and equipment held for use with a carrying amount of $610 million were written down to a fair value of $210 million, resulting in a before-tax loss of $385 million. In addition, certain equity method investments associated with our E&P segment were determined to have a fair value below carrying amount, and the impairment was considered to be other than temporary. These investments with a book value of $2,070 million were written down to a fair value of $1,784 million resulting in a charge of $286 million before-tax, which is included in the “Equity in earnings of affiliates” line of our consolidated income statement. The fair values were determined by the application of an internal discounted cash flow model using estimates of future production, prices, costs and a discount rate believed to be consistent with those used by principal market participants. In addition, the equity investment fair value considered market analysis of certain similar undeveloped properties owned by one of the investees. </div> <div align="left" style="font-size: 10.5pt; margin-top: 10.5pt">Also during 2009, net properties, plants and equipment held for sale with a carrying amount of $178 million were written down to a fair value of $121 million, less cost to sell of $5 million for a net $116 million, resulting in a before-tax loss of $62 million. The fair values were largely based on binding negotiated prices with third parties, with some adjusted for the fair value of certain liabilities retained. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> </div>  <!-- Begin Block Tagged Note false false false us-types:textBlockItemType textblock For long-lived assets, disclosures may include a description of the impaired long-lived asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired long-lived asset is reported. No authoritative reference available. false 1 2 false UnKnown UnKnown UnKnown false true