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Consolidated Balance Sheet - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Assets | ||
Cash and cash equivalents | $ 5,028 | $ 2,991 |
Short-term investments | 446 | 3,609 |
Accounts and notes receivable (net of allowance of $2 and $4, respectively) | 6,543 | 2,634 |
Accounts and notes receivable-related parties | 127 | 120 |
Investment in Cenovus Energy | 1,117 | 1,256 |
Inventories | 1,208 | 1,002 |
Prepaid expenses and other current assets | 1,581 | 454 |
Total Current Assets | 16,050 | 12,066 |
Investments and long-term receivables | 7,113 | 8,017 |
Loans and advances-related parties | 0 | 114 |
Net properties, plants and equipment (net of accumulated DD&A of $64,735 and $62,213, respectively) | 64,911 | 39,893 |
Other assets | 2,587 | 2,528 |
Total Assets | 90,661 | 62,618 |
Liabilities | ||
Accounts payable | 5,002 | 2,669 |
Accounts payable-related parties | 23 | 29 |
Short-term debt | 1,200 | 619 |
Accrued income and other taxes | 2,862 | 320 |
Employee benefit obligations | 755 | 608 |
Other accruals | 2,179 | 1,121 |
Total Current Liabilities | 12,021 | 5,366 |
Long-term debt | 18,734 | 14,750 |
Asset retirement obligations and accrued environmental costs | 5,754 | 5,430 |
Deferred income taxes | 6,179 | 3,747 |
Employee benefit obligations | 1,153 | 1,697 |
Other liabilities and deferred credits | 1,414 | 1,779 |
Total Liabilities | 45,255 | 32,769 |
Equity | ||
Common stock (2,500,000,000 shares authorized at $0.01 par value) Issued (2021-2,091,562,747 shares; 2020-1,798,844,267 shares) Par value | 21 | 18 |
Capital in excess of par | 60,581 | 47,133 |
Treasury stock (at cost: 2021-789,319,875 shares; 2020-730,802,089 shares) | (50,920) | (47,297) |
Accumulated other comprehensive loss | (4,950) | (5,218) |
Retained earnings | 40,674 | 35,213 |
Total Equity | 45,406 | 29,849 |
Total Liabilities and Equity | $ 90,661 | $ 62,618 |
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Consolidated Balance Sheet [Abstract] | ||
Allowance for accounts and notes receivable | $ 2 | $ 4 |
Accumulated depreciation, depletion and amortization | $ 64,735 | $ 62,213 |
Common stock, shares authorized | 2,500,000,000 | 2,500,000,000 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares issued | 2,091,562,747 | 1,798,844,267 |
Treasury stock, shares | 789,319,875 | 730,802,089 |
Consolidated Statement of Cash Flows - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Cash Flows From Operating Activities | |||
Net income | $ 8,079 | $ (2,655) | $ 7,257 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities | |||
Depreciation, depletion and amortization | 7,208 | 5,521 | 6,090 |
Impairments | 674 | 813 | 405 |
Dry hole costs and leasehold impairments | 44 | 1,083 | 421 |
Accretion on discounted liabilities | 242 | 252 | 326 |
Deferred taxes | 1,346 | (834) | (444) |
Undistributed equity earnings | 446 | 645 | 594 |
Gain on dispositions | (486) | (549) | (1,966) |
(Gain) loss on investment in CVE common shares | (1,040) | 855 | (649) |
Other | (788) | 43 | (351) |
Working capital adjustments | |||
Decrease (increase) in accounts and notes receivable | (2,500) | 521 | 505 |
Increase in inventories | (160) | (25) | (67) |
Decrease (increase) in prepaid expenses and other current assets | (649) | 76 | 37 |
Increase (decrease) in accounts payable | 1,399 | (249) | (378) |
Increase (decrease) in taxes and other accruals | 3,181 | (695) | (676) |
Net Cash Provided by Operating Activities | 16,996 | 4,802 | 11,104 |
Cash Flows From Investing Activities | |||
Capital expenditures and investments | (5,324) | (4,715) | (6,636) |
Working capital changes associated with investing activities | 134 | (155) | (103) |
Acquisition of businesses, net of cash acquired | (8,290) | 0 | 0 |
Proceeds from asset dispositions | 1,653 | 1,317 | 3,012 |
Net sales (purchases) of investments | 3,091 | (658) | (2,910) |
Collection of advances/loans-related parties | 105 | 116 | 127 |
Other | 87 | (26) | (108) |
Net Cash Used in Investing Activities | (8,544) | (4,121) | (6,618) |
Cash Flows From Financing Activities | |||
Issuance of debt | 0 | 300 | 0 |
Repayment of debt | (505) | (254) | (80) |
Issuance of company common stock | 145 | (5) | (30) |
Repurchase of company common stock | (3,623) | (892) | (3,500) |
Dividends paid | (2,359) | (1,831) | (1,500) |
Other | 7 | (26) | (119) |
Net Cash Used in Financing Activities | (6,335) | (2,708) | (5,229) |
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | (34) | (20) | (46) |
Net Change in Cash, Cash Equivalents and Restricted Cash | 2,083 | (2,047) | (789) |
Cash, cash equivalents and restricted cash at beginning of period | 3,315 | 5,362 | 6,151 |
Cash, Cash Equivalents and Restricted Cash at End of Period | $ 5,398 | $ 3,315 | $ 5,362 |
Consolidated Statement of Cash Flows (Parenthetical) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Prepaid Expenses and Other Current Assets [Member] | ||
Restricted Cash | $ 152 | $ 94 |
Other Assets [Member] | ||
Restricted Cash | $ 218 | $ 230 |
Consolidated Statement of Changes in Equity - USD ($) $ in Millions |
Total |
Cumulative Effect Period Of Adoption Adjustment [Member] |
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] |
Par Value - Common Stock [Member] |
Par Value - Common Stock [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
|
Capital in excess of par [Member] |
Capital in excess of par [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
|
Treasury Stock [Member] |
Treasury Stock [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
|
Accum Other Comprehensive Income (Loss) [Member] |
Accum Other Comprehensive Income (Loss) [Member]
Cumulative Effect Period Of Adoption Adjustment [Member]
|
Accum Other Comprehensive Income (Loss) [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
|
Retained Earnings [Member] |
Retained Earnings [Member]
Cumulative Effect Period Of Adoption Adjustment [Member]
|
Retained Earnings [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
|
Noncontrolling Interests [Member] |
Noncontrolling Interests [Member]
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
|
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Balance at Dec. 31, 2018 | $ 32,064 | $ 18 | $ 46,879 | $ (42,905) | $ (6,063) | $ 34,010 | $ 125 | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||
Net income | 7,257 | 7,189 | 68 | ||||||||||||||
Other comprehensive income (loss) | 746 | 746 | |||||||||||||||
Dividends declared - ordinary | (1,500) | (1,500) | |||||||||||||||
Repurchase of company common stock | (3,500) | (3,500) | |||||||||||||||
Distributions to noncontrolling interests and other | (128) | (128) | |||||||||||||||
Distributed under benefit plans | 104 | 104 | |||||||||||||||
Other | 7 | 3 | 4 | ||||||||||||||
Ending Balance at Dec. 31, 2019 | $ 35,050 | $ 18 | $ 46,983 | $ (46,405) | $ (5,357) | $ 39,742 | $ 69 | ||||||||||
Ending Balance (Accounting Standards Update 201802 [Member]) at Dec. 31, 2019 | $ 0 | $ (40) | $ 40 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||
Net income | (2,655) | (2,701) | 46 | ||||||||||||||
Other comprehensive income (loss) | 139 | 139 | |||||||||||||||
Dividends declared - ordinary | (1,831) | (1,831) | |||||||||||||||
Repurchase of company common stock | (892) | (892) | |||||||||||||||
Distributions to noncontrolling interests and other | (32) | (32) | |||||||||||||||
Disposition | (84) | (84) | |||||||||||||||
Distributed under benefit plans | 150 | 150 | |||||||||||||||
Other | 4 | 3 | 1 | ||||||||||||||
Ending Balance at Dec. 31, 2020 | 29,849 | 18 | 47,133 | (47,297) | (5,218) | 35,213 | 0 | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||
Net income | 8,079 | 8,079 | 0 | ||||||||||||||
Other comprehensive income (loss) | 268 | 268 | |||||||||||||||
Dividends declared - ordinary | (2,359) | (2,359) | |||||||||||||||
Dividends declared - Variable return of cash | (260) | (260) | |||||||||||||||
Acquisition of Concho | 13,125 | 3 | 13,122 | ||||||||||||||
Repurchase of company common stock | (3,623) | (3,623) | |||||||||||||||
Distributed under benefit plans | 326 | 326 | |||||||||||||||
Other | 1 | 1 | 0 | ||||||||||||||
Ending Balance at Dec. 31, 2021 | $ 45,406 | $ 21 | $ 60,581 | $ (50,920) | $ (4,950) | $ 40,674 | $ 0 |
Consolidated Statement of Changes in Equity (Parenthetical) - $ / shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Changes in Equity [Abstract] | |||
Dividends declared, per share of common stock (dollars per share) | $ 1.75 | $ 1.69 | $ 1.34 |
Dividends declared, Variable return of cash, per share of common stock (dollars per share) | $ 0.20 |
Accounting Policies |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Accounting Policies | Note 1—Accounting Policies Consolidation Principles and Investments —Our consolidated financial statements majority-owned, controlled subsidiaries primary beneficiary. the ability to exert significant not have the ability to exert the investment does not have at cost minus impairment, plus or minus or similar investment of the same issuer. natural gas plants and terminals investments are generally six defined by geographic region: Pacific; and Other International. Foreign Currency Translation —Adjustments resulting from the currency financial statements common stockholders’ equity. earnings. Use of Estimates —The preparation of financial statements management to make estimates revenues and expenses and the disclosures from these estimates. Revenue Recognition —Revenues associated with and other items are recognized evaluating when a customer has control title and physical delivery has occurred, ownership and whether the customer has products are typically sold at prevailing to deliveries (performance obligations) our efforts to transfer expect to be entitled to in exchange Payment is typically due within 30 days or less. Revenues associated with transactions sale of inventory with the same counterparty combined and reported net (i.e., on the same income Shipping and Handling Costs —We typically incur shipping and handling to the customer and account for handling costs in production and operating related to marketing activities are treated as a component of the transaction customer obtains control. Cash Equivalents —Cash equivalents are highly liquid, short-term to known amounts of cash and have They are carried at cost plus accrued interest, Short-Term —Short-term investments marketable securities (commercial accrued interest and have remaining maturities are within one year. for sale debt securities which are carried at investments when they have Long-Term Investments —Long-term investments instruments classified as available as of the balance sheet date. long-term receivables” line of our consolidated Inventories —We have several the following methods for each type recorded at cost using the the aggregate. permanent adjustments to the LIFO cost current revenues. product to its existing condition development costs. well equipment, are valued using various FIFO method, consistent with industry Fair Value Measurements —Assets and liabilities measured at fair value within the fair value hierarchy observability of the inputs employed in the measurement. markets for identical assets included within Level 1 for the asset or liability, inputs. to observable related market Derivative Instruments —Derivative instruments are right of offset exists and certain counterparty are netted derivative assets and derivative Recognition and classification of the gain fair value depends on the purpose for not accounted for as hedges to our derivative instruments. Oil and Gas Exploration and Development —Oil and gas exploration and accounted for using the successful Property Acquisition Costs —Oil and gas leasehold acquisition costs the balance sheet caption PP&E. experience and management’s to be classified as proved, the associated Exploratory Costs —Geological and geophysical undeveloped properties are expensed “suspended,” reserves have been found. are expensed as dry holes. gas, the well costs remain capitalized reserves and the economic and operating exploratory discoveries, sheet for several years potential oil and gas field or while we seek government plans or seek environmental permitting. obtained, the projects are moved designated as proved reserves. Management reviews suspended well balances additional appraisal drilling and seismic work, and expenses when it judges the potential field does not warrant Development Costs —Costs incurred to drill and equip development development wells, are capital Depletion and Amortization —Leasehold costs of producing properties production method based on estimated costs is based on the unit-of-production reserves. Capitalized Interest —Interest from external construction period of one year or longer. and is amortized over the useful lives of the assets Depreciation and Amortization —Depreciation and amortization of PP&E properties and SAGD facilities and declining utilization pattern), amortization of all other PP&E are determined by group-straight-line Impairment of Properties, Plants and Equipment —Long-lived assets used in operations are assessed impairment whenever changes in facts the future cash flows expected amount of an asset may not be recovered, assumptions for prices, volumes and future flows before income-taxes down to estimated fair value made. identifiable cash flows that are largely on a field-by-field basis for E&P assets. lived assets, the fair value of impaired assets expected future cash flows using principal market participants, or based market transactions of similar assets The expected future cash flows used on estimated future production considering all available evidence at the date proved developed and undeveloped achieve that production. adjusted amount of these reserves may Long-lived assets committed by of amortized cost or fair value, price, if available, or present value Maintenance and Repairs —Costs of maintenance and repairs, are expensed when incurred. Property Dispositions —When complete units of depreciable accumulated depreciation are of our consolidated income statement. retired which do not significantly value is charged or credited to Asset Retirement Obligations —The fair value of legal obligations remove long-lived assets are recorded asset is installed at the production incorporating assumptions about estimated technologies. Environmental expenditures Expenditures relating to an existing economic benefit, are expensed. undiscounted basis (unless acquired through basis) when environmental assessments estimated. when their receipt is probable and estimable. Impairment of Investments —Investments in nonconsolidated assessed for impairment whenever changes occurred. value of the investment is written on quoted market prices, if available, discount rates and prices believed market analysis of comparable Guarantees —The fair value of a guarantee guarantee is given. the guarantee. the facts and circumstances surrounding indefinite, we reverse the liability or amortize it over an appropriate time. of the guarantee. separate liability if it is reasonably estimable, reverse the fair value liability Share-Based Compensation —We recognize share service period (i.e., the stated period of time required start of the service period and ending when an employee first elected to recognize expense the award was granted Income Taxes —Deferred income taxes temporary differences except for deferred adjustment considered to be permanently joint ventures. Interest related to related to unrecognized Taxes —Sales and value-added taxes are recorded Net Income (Loss) Per Share of Common —Basic net income (loss) per share of common stock calculated based upon the daily weighted-average year. calculation includes fully vested stock common stock, along with an adjustment unit awards that are considered includes unvested stock, unexercised stock under the treasury-stock method. loss per share, does not assume conversion Treasury stock both calculations. |
Inventories |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Inventories [Abstract] | |
Inventories | Note 2—Inventories Inventories at December 31 were: Millions of Dollars 2021 2020 Crude oil and natural gas $ 647 461 Materials and supplies 561 541 Total $ 1,208 1,002 Inventories valued on $ 395 282 The estimated excess 251 and $ 87 |
Assets Acquisitions and Dispositions |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Assets Acquisitions and Dispositions [Abstract] | |
Assets Acquisitions and Dispositions | Note 3—Asset Acquisitions and Dispositions All gains or losses on asset dispositions are reported line on our consolidated income stat Investing Activities” section of our consolidated During the year, (Shell) Permian assets. using the acquisition method, which requires assets acquisition date fair values. adjustments to those measurements as we identify new information 2021 Acquisition of Concho Resources Inc. In January 2021, we completed our acquisition of Concho, company with operations across for the all-stock transaction 13.1 exchanged for each outstanding Total Consideration 194,243 1,599 Number of shares exchanged 195,842 1.46 285,929 $ 45.9025 $ 13,125 **Based on the ConocoPhillips average stock price on January 15, 2021. Oil and gas properties were valued internally generated price assumptions; Debt assumed in the acquisition was valued based on accounts receivable, accounts carrying value due to their short-term 13.1 identifiable assets and liabilities based on their fair Assets Acquired Millions of Dollars Cash and cash equivalents $ 382 Accounts receivable, net 745 Inventories 45 Prepaid expenses and other current 37 Investments and long-term receivables 333 Net properties, plants and equipment 18,923 Other assets 62 Total assets $ 20,527 Liabilities Assumed Accounts payable $ 638 Accrued income and other taxes 56 Employee benefit obligations 4 Other accruals 510 Long-term debt 4,696 Asset retirement obligations 310 Deferred income taxes 1,071 Other liabilities and deferred credits 117 Total liabilities $ 7,402 Net assets acquired $ 13,125 With the completion of the Concho transaction, $ 11.8 6.9 We recognized approximately 157 quarter of 2021. based awards for certain Concho In the first quarter of 2021, we commenced combining the operations of the two companies non-recurring restructuring costs The impact from these transaction and restructuring the year ended December 31, 2021, are below: Millions of Dollars Transaction Restructuring Cost Total Production and operating expenses $ 128 128 Selling, general and administration 135 67 202 Exploration expenses 18 8 26 Taxes 4 2 6 Other expenses - 29 29 $ 157 234 391 On February 8, 2021, we completed a debt of the debt exchange, we recognized 75 From the acquisition date through (Loss) Attributable to ConocoPhillips” 6,571 million and $ 2,330 include a before- and after-tax 305 233 contracts. statement. Acquisition of Shell Permian Assets In December 2021, we completed our acquisition accounting close date used for reporting 225,000 $ 8.7 Oil and gas properties were valued internally generated price assumptions The fair values determined for liabilities were equivalent to the carrying 8.7 billion was allocated to the identifiable Assets Acquired Millions of Dollars Accounts receivable, net $ 337 Inventories 20 Net properties, plants and equipment 8,624 Other assets 50 Total assets $ 9,031 Liabilities Assumed Accounts payable $ 211 Accrued income and other taxes 6 Other accruals 20 Asset retirement obligations 86 Other liabilities and deferred credits 36 Total liabilities $ 359 Net assets acquired $ 8,672 With the completion of the Shell Permian transaction, approximately $ 4.2 4.4 44 related costs which were expensed Supplemental Pro Forma (unaudited) The following tables summarize the December 31, 2021, and 2020, as if we had completed the acquisitions January 1, 2020. Millions of Dollars Year Ended December 31, 2021 Pro forma Pro forma As reported Shell Combined Total $ 48,349 3,220 51,569 Income (loss) before income taxes 12,712 1,201 13,913 Net Income (Loss) attributable to 8,079 920 8,999 Earnings per share: Basic net loss $ 6.09 6.78 Diluted net loss 6.07 6.76 Millions of Dollars Year Ended December 31, 2020 Pro forma Pro forma Pro forma As reported Concho Shell Combined Total $ 19,256 3,762 1,685 24,703 Income (loss) before income taxes (3,140) 787 (247) (2,600) Net Income (Loss) attributable to (2,701) 498 (189) (2,392) Earnings per share: Basic net loss $ (2.51) (1.75) Diluted net loss (2.51) (1.75) The unaudited supplemental pro forma necessarily indicative of the operating January 1, 2020, nor is it necessarily indicative of future pro forma financial information the consolidated income statement Shell. the transactions. impairment expense of $ 10.5 1.9 Other adjustments made relate primarily to from the purchase price allocated are reasonable, and the relative Announced Acquisitions In December 2021, we announced that we have to purchase an additional 10 1.645 will be funded from cash on the balance sheet, before transaction will be July 1, 2020 with closing anticipated government approval. Assets Sold In 2020, we completed the sale of our Australia $ 200 2021, FID was announced and as such, we recognized 200 The purchaser failed to pay the FID bonus purchaser to enforce our contractual 200 operations related to In the second half of 2021, we sold our interests approximately $ 250 $ 58 tax loss on disposition of $ 179 International segment. In 2021, we recorded contingent 369 payments are recorded Canada and Lower 48 segments. contingent payment, calculated and paid 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 . segment, the contingent payment, paid on an annual basis, is calculated monthly at $7 million per month in which the U.S. Henry Hub price is at or above $3.20 per MMBTU . segment goes through 2023. No Planned Dispositions In December 2021, we entered into operations to MedcoEnergi for 1.355 2021. 54 (PSC) and a 35 approximately $ 0.4 quarter, 0.3 current assets” and $ 0.1 before-tax earnings associated 604 394 512 the years ended December 31, 2021, 2020 and 2019, respectively 2022, subject to regulatory approvals subsidiaries to be sold are reported within our In January 2022, we entered into segment for $ 440 quarter of 2022. 2020 Asset Acquisition In August 2020, we completed the acquisition for $ 382 31 associated with partially owned infrastructure. included 140,000 existing Montney position. 295,000 acres with a 100 the recognition of $ 490 77 31 financing obligations recorded reported in our Canada segment. Assets Sold In February 2020, we sold our Waddell Ranch 184 adjustments. No sold were reported in our Lower 48 segment. In March 2020, we completed the sale 359 adjustments and recognized a 38 in Niobrara had a net carrying value 397 433 34 ARO. The before-tax losses and an impairment of $ 386 quarter of 2019, were $ 25 372 Results of operations for In May 2020, we completed the divestiture and based on an effective date 765 tax gain of $ 587 subsidiaries sold was approximately 0.2 0.5 primarily of $ 1.3 0.1 0.7 0.3 deferred tax liabilities, and 0.2 sold, including the gain on disposition noted 851 372 December 31, 2020 and 2019, respectively. date in May 2020 averaged 43 200 the Barossa development project. segment. 2019 Assets Sold In January 2019, we entered into 12.4 Terminal and retaining use of the facilities. of $ 60 consolidated income statement. these assets were reported in our Lower In April 2019, we entered into for $ 2.675 September 30, 2019, we completed the sale 2.2 1.7 and $ 2.1 held our exploration and production approximately $ 0.5 1.6 0.5 translation adjustments, and $ 0.3 1.8 0.1 billion of working capital. dispositions noted above, was $ 2.1 U.K. were reported within our Europe, In the second quarter of 2019, we recognized 52 30 percent interest in the Greater 350 Sunrise Fields were included in our Asia Pacific In the fourth quarter of 2019, we sold our interests 16 million and recognized a before-tax 82 4 million of PP&E offset by $ 70 48 segment. |
Investments, Loans and Long-Term Receivables |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Investments, Loans and Long-Term Receivables [Abstract] | |
Investments, Loans and Long-Term Receivables | Note 4—Investments, Components of investments, loans Millions of Dollars 2021 2020 Equity investments $ 6,701 7,596 Loans and advances—related parties - 114 Long-term receivables 98 137 Long-term investments in debt 248 217 Other investments 66 67 $ 7,113 8,131 Equity Investments Affiliated companies in which we had a significant APLNG— 37.5 37.5 25 to produce CBM from the Bowen and LNG. Qatar Liquefied Gas Company Limited 30 QatarEnergy ( 68.5 1.5 Qatar’s North Field, as well as exports Summarized 100 percent earnings combined, was as follows: Millions of Dollars 2021 2020 2019 Revenues $ 11,824 7,931 11,310 Income before income taxes 3,946 1,843 3,726 Net income 2,557 1,426 3,085 Summarized 100 percent balance sheet information combined, was as follows: Millions of Dollars 2021 2020 Current assets $ 4,493 2,579 Noncurrent assets 36,602 35,257 Current liabilities 3,498 2,110 Noncurrent liabilities 17,465 18,099 Our share of income taxes incurred affiliates, and as such is not included in income taxes At December 31, 2021, retained earnings 42 companies. 1,279 1,076 1,378 and 2019, respectively. APLNG APLNG is a joint venture focused on Natural gas is sold to domestic investment in APLNG gives us access of APLNG LNG is sold under two long-term sales and purchase LNG spot cargoes targeting the operator of APLNG’s APLNG executed project financing 8.5 drawn from the facility. 8.5 during the third quarter of 2017, resulting in the facility refinanced over time and at December 31, 2021, this Export-Import Bank of the United States, two facilities. bi-annual payments until September 2030. 5.7 During the fourth quarter of 2021, Origin Energy Limited 10 for $ 1.645 exercising our preemption 10 shareholding interest in APLNG, subject right was determined to reflect below the carrying value of our existing surrounding this decline in fair value, temporary under the guidance of FASB investment was necessary. 688 in the fourth quarter of 2021. income statement, had the 5,574 December 31, 2021. consolidated balance sheet. The historical cost basis of our 37.5 5,523 resulting in a basis difference of $ 51 associated with PP&E and subject to amortization, production license areas owned by APLNG. similar manner. allocated to that license using the unit-of-production ConocoPhillips for 2021, 2020 and 2019 was 39 41 36 respectively, QG3 QG3 is a joint venture that owns an financing, with a current outstanding balance of $ 114 2021, the book value of our equity method investment 736 We have terminal and pipeline near Sabine Pass, Texas, regasification of LNG purchased 12.4 Terminal and basic use agreements. Loans As part of our normal ongoing business operations agreements with other parties to pursue affiliated and non-affiliated At December 31, 2021, significant loans 114 which is recorded within the “Accounts sheet. 4.0 1.3 export credit agencies (ECA), $ 1.5 1.2 ConocoPhillips loan facilities have December 15, 2011, QG3 achieved financial completion project participants. Semi-annual |
Investment in Cenovus Energy |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Investment In Cenovus Energy [Abstract] | |
Investment in Cenovus Energy | Note 5—Investment in Cenovus Our investment in Cenovus Energy December 31 2021 2020 Number of shares of CVE common stock (millions) 91 208 Ownership of issued and outstanding common 4.5 % 16.9 Closing price on NYSE on last trading day $ 12.28 6.04 Fair Value (millions $ 1,117 1,256 During 2021, we began to dispose of CVE shares, 117 $ 1.18 1.14 are presented within “Cash Flows from to market conditions, we intend All gains and losses are recognized Millions of Dollars 2021 2020 2019 Total $ 1,040 (855) 649 Less: Net gain (loss) on equity securities sold during 473 Unrealized gain (loss) on equity securities $ 567 (855) 649 |
Suspended Wells and Exploration Expenses |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Suspended Wells and Exploration Expenses [Abstract] | |
Suspended Wells and Exploration Expenses | Note 6—Suspended Wells and The following table reflects the net Millions of Dollars 2021 2020 2019 Beginning balance at January 1 $ 682 1,020 856 Additions pending the determination of proved 10 164 239 Reclassifications to proved - (42) (11) Sales of suspended wells - (313) (54) Charged to dry hole expense (32) (147) (10) Ending balance at December 31 $ 660 682 1,020 * *Includes $ 313 For additional details on suspended wells charged to dry hole expense, see the Exploration Expenses section The following table provides an aging Millions of Dollars 2021 2020 2019 Exploratory well costs capitalized $ 4 156 206 Exploratory well costs capitalized 656 526 814 Ending balance $ 660 682 1,020 * *Includes $ 313 Number of projects with exploratory greater than one year 22 22 23 The following table provides a further than one year since the completion of drilling as of December 31, 2021: Millions of Dollars Suspended Since Total 2018-2020 2015-2017 2004-2014 Willow—Alaska (1) 313 262 51 - Surmont—Canada (1) 121 2 19 100 PL 1009—Norway (1) 43 43 - - PL 891—Norway (1) 34 34 - - Narwhal Trend—Alaska (1) 25 25 - - WL4-00—Malaysia (1) 24 24 - - PL782S—Norway (1) 22 22 - - NC 98—Libya (2) 13 - - 13 Other of $10 million or less each (1)(2) 61 21 11 29 Total $ 656 433 81 142 (1)Additional appraisal wells planned. (2)Appraisal drilling complete; costs being incurred to assess development. Exploration Expenses The charges discussed below are included in the “Exploration statement. 2020 In our Alaska segment, we recorded 828 value of capitalized undeveloped believe the project will advance, In our Other International segment, our interests As we had no immediate plans to perform expense totaling $ 84 capitalized undeveloped leasehold In our Asia Pacific segment, we recorded 50 suspended well and an impairment of the associated capitalized with the Kamunsu East Field in Malaysia 2019 In our Lower 48 segment, we recorded 141 capitalized undeveloped leasehold 111 discontinue exploration |
Impairments |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Impairments [Abstract] | |
Impairments | Note 7—Impairments During 2021, 2020 and 2019, we recognized the following Millions of Dollars 2021 2020 2019 Alaska $ 5 - - Lower 48 (8) 804 402 Canada 6 3 2 Europe, Middle East and North Africa (24) 6 1 Asia Pacific 695 - - $ 674 813 405 2021 We recorded an impairment 688 See In our Lower 48 segment, we recorded 89 previously sold asset, in which we retained 84 million during the fourth quarter of 2021, related In our Europe, Middle East and North 24 decreased ARO estimates on fields 2020 We recorded impairments 813 significant impairments of $ 523 properties in the Madden Field and the Lost Cabin primarily to changes in development plans impairments of $ 287 2019 In the Lower 48, we recorded impairments 402 Niobrara asset which were written |
Asset Retirement Obligations and Accrued Environmental Costs |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Asset Retirement Obligations and Accrued Environmental Costs [Abstract] | |
Asset Retirement Obligations and Accrued Environmental Cost | Note 8—Asset Retirement Asset retirement obligations Millions of Dollars 2021 2020 Asset retirement obligations $ 5,926 5,573 Accrued environmental costs 187 180 Total 6,113 5,753 Asset retirement obligations (359) (323) Long-term asset retirement obligations $ 5,754 5,430 *Classified as a current liability on the balance sheet under “Other accruals.” Asset Retirement Obligations We record the fair value production location). increasing the carrying amount of the related changes, we will record an adjustment change in its present value, while the capitalized Reductions to estimated liabilities the asset had been previously impaired, or as a credit We have numerous out of service. and will be funded from general company involve plugging and abandonment of wells and world, as well as oil and gas production During 2021 and 2020, our overall ARO changed as Millions of Dollars 2021 2020 Balance at January 1 $ 5,573 6,206 Accretion of discount 238 248 New obligations 555 262 Changes in estimates of existing (113) (307) Spending on existing obligations (164) (116) Property dispositions (108) (771) Foreign currency translation (55) 51 Balance at December 31 $ 5,926 5,573 Accrued Environmental Costs Total 187 180 respectively. We had accrued environmental 135 116 respectively, $ 36 48 2021 and 2020, respectively. 16 the company has been named a potentially Response, Compensation and Liability Act, or similar state be paid over periods extending up to 30 Expected expenditures for environmental using a weighted-average 5 liabilities of $ 109 portion of the accrued environmental costs 153 |
Debt |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Debt [Abstract] | |
Debt | Note 9—Debt Long-term debt at December 31 was: Millions of Dollars 2021 2020 9.125 % Debentures due 2021 $ - 123 2.4 % Notes due 2022 329 329 7.65 % Debentures due 2023 78 78 3.35 % Notes due 2024 426 426 8.2 % Debentures due 2025 134 134 3.35 % Notes due 2025 199 199 6.875 % Debentures due 2026 67 67 4.95 % Notes due 2026 1,250 1,250 7.8 % Debentures due 2027 203 203 3.75 % Notes due 2027 981 - 3.75 % Notes due 2027 19 - 4.3 % Notes due 2028 973 - 4.3 % Notes due 2028 27 - 7.375 % Debentures due 2029 92 92 7 % Debentures due 2029 200 200 6.95 % Notes due 2029 1,549 1,549 8.125 % Notes due 2030 390 390 2.4 % Notes due 2031 489 - 2.4 % Notes due 2031 11 - 7.2 % Notes due 2031 575 575 7.25 % Notes due 2031 500 500 7.4 % Notes due 2031 500 500 5.9 % Notes due 2032 505 505 4.15 % Notes due 2034 246 246 5.95 % Notes due 2036 500 500 5.951 % Notes due 2037 645 645 5.9 % Notes due 2038 600 600 6.5 % Notes due 2039 2,750 2,750 4.3 % Notes due 2044 750 750 5.95 % Notes due 2046 500 500 7.9 % Debentures due 2047 60 60 4.875 % Notes due 2047 800 - 4.85 % Notes due 2048 590 - 4.85 % Notes due 2048 10 - Floating rate notes due 2022 at 1.02 % – 1.12 % during 2021 and 1.12 % – 2.81 % during 2020 500 500 Marine Terminal 0.04 % – 0.15 % during 0.1 % – 7.5 % during 2020 265 265 Industrial Development Bonds due 2035 at 0.04 % – 0.12 % during 2021 and 0.11 % – 7.5 % during 2020 18 18 Commercial Paper at 0.05 % – 0.22 % during 2021 - 300 Other 35 38 Debt at face value 17,766 14,292 Finance leases 1,261 891 Net unamortized premiums, discounts and debt 907 186 Total 19,934 15,369 Short-term debt (1,200) (619) Long-term debt $ 18,734 14,750 On January 15, 2021, we completed the acquisition of Concho assumed Concho’s publicly 3.9 at fair value of $ 4.7 approximately $ 0.8 remaining contractual terms In the first quarter of 2021, we completed approximately $ 3.9 98 percent, or approximately 3.8 the same interest rates $ 67 treated as a debt modification for adjustment of the Concho senior notes allocated of the exchange. Company. We have a revolving 6.0 facility may be used for direct 500 support for our commercial paper program. institutions and does not contain any of specified financial ratios or credit ratings. the failure to pay principal or 200 of its consolidated subsidiaries. date. Credit facility borrowings may London interbank market or designated banks in the U.S. The agreement also contains early termination be a majority of the Board of Directors. The revolving credit facility supports 6.0 funding source for short-term 90 days . no $ 6.0 no direct borrowings, letters 300 For information on Finance Leases, The current credit ratings on our ● Fitch: “A” with a “stable” outlook . ● S&P: “A-” with a “stable” outlook . ● Moody’s: “A3” with a “positive” outlook . We do not have any thereby impact our access to liquidity, from their current levels, it could commercial paper markets. commercial paper market, we At both December 31, 2021 and 2020, we had $ 283 outstanding with maturities ranging on any business day. therefore, the VRDBs are included |
Guarantees |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Guarantees [Abstract] | |
Guarantees | Note 10—Guarantees At December 31, 2021, we were liable for as described below. newly issued or modified guarantees. recognized a liability because the are not currently performing with any either immaterial or have only a remote APLNG Guarantees At December 31, 2021, we had outstanding 37.5 interest in APLNG. exchange rates: During the third quarter of 2016, we issued a guarantee portion of the funds in a project finance reserve account. guarantee to be 9 170 may become payable if an enforcement APLNG. 14 In conjunction with our original purchase of an ownership October 2008, we agreed to reimburse arising under guarantees of an existing agreements. for future payments, or cost 660 ($ 1.2 meet its obligations under these agreements payments are considered unlikely, APLNG does not have enough natural make necessary equity contributions We have guaranteed connection with the project’s continued 15 to 24 years guarantees is approximately 180 December 31, 2021, the carrying value of these guarantees 11 Other Guarantees We have other guarantees 720 which consist primarily of guarantees value of corporate aircraft, These guarantees have remaining one to five years lower than guaranteed amounts guaranteed entities, or as a result December 31, 2021, the carrying value of these guarantees 8 Indemnifications Over the years, we have entered and assets that gave rise to environmental liabilities. approximately $ 20 maximum amounts payments may exceed reasonable estimate of the maximum potential for additional information about environmental |
Contingencies and Commitments |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Contingencies and Commitments [Abstract] | |
Contingencies and Commitments | Note 11—Contingencies and Commitments A number of lawsuits involving a variety ConocoPhillips. storage, disposal or release of sites. all known contingencies (other than those related and the amount is reasonably estimable. the range is a better estimate these liabilities for potential insurance third-party recoveries when applicable. probability-weighted loss for additional information about income tax Based on currently available information, liability exposures will exceed consolidated financial statements. with respect to accrued liabilities and other potential include contingent liabilities recorded environmental remediation costs, the unknown time and extent of such liability in proportion to that of other responsible are subject to change as events and litigation processes. Environmental We are subject to international, environmental liabilities based on facts, existing technology, business considerations. remediation of contaminated other organizations. accrue them in the period they are both probable and Although liability of those potentially responsible several for federal particular site. site at which we have been designated sharing cleanup costs with other financially sound responsible are still under investigation potentially responsible normally assess the remediation. that other potentially responsible parties may this inability in estimating our potential liability, acquisitions in the past, we assumed certain environmental are mitigated by indemnifications dollar limits and time limits. We are currently participating comparable state and costs, we make accruals on an which we record on a discounted probable future costs will be incurred accruals for possible insurance recoveries. assessments, cleanups and proceedings. for a summary of our accrued environmental Litigation and Other Contingencies We are subject to various severance tax payments, climate change, personal injury, royalty and tax underpayments environmental contamination defend ourselves vigorously Our legal organization of our cases, employing a litigation management Our process facilitates the process also enables us to track those professional judgment and experience current developments in all our cases, and determines if adjustment of existing We have contingent associated with financing arrangements. company with additional funds through In addition, at December 31, 2021, we had performance 337 million (issued as direct bank letters of credit) commercial activities and services incident to the ordinary In 2007, ConocoPhillips was unable to reach the Venezuelan government’s Venezuela, S.A. (PDVSA), and Hamaca heavy oil ventures and ConocoPhillips initiated international ICSID arbitration tribunal held that Venezuela June 2007. March 2019, the Tribunal unanimously $ 8.7 Venezuela in 2007. by approximately $ 227 8.5 sought annulment of the award, the ICSID annulment committee lifted the been suspended as a result of Venezuela’s In 2014, ConocoPhillips filed a separate under the contracts that had established April 2018, finding that PDVSA owed ConocoPhillips 2 with the expropriation of the projects 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. and ConocoPhillips agreed to suspend PDVSA on October 14 and November 12, 2019, and ConocoPhillips has resumed legal enforcement 768 million in connection with the ICC award. enforcement thereof meet all sanctions imposed by the U.S. against In 2016, ConocoPhillips filed a separate under the contracts that had established ConocoPhillips approximately 33 recognition and enforcement related to the award meet sanctions imposed by the U.S. against The Office of Natural Resources federal lands and has issued multiple orders and the ONRR entered into a settlement associated appeals have been withdrawn Beginning in 2017, governmental and gas companies, including ConocoPhillips, climate change impacts. claimed by plaintiffs are unspecified and ConocoPhillips believes these lawsuits are address the challenges associated with climate Several Louisiana parishes and the State 43 Coastal Resources Management compensatory damages for contamination and gas operations. 22 them. scope and damages) and we continue to In October 2020, the Bureau of Safety and Continental Shelf (OCS) Lease P-0166, offshore platforms located P-0166 relinquished the lease and premised on its connection to Phillips Petroleum historical 25 30 ago. On May 10, 2021, ConocoPhillips filed arbitration (SIAC) against Santos KOTN 200 upon FID of the Barossa development project Santos Limited have filed a response In July 2021, a federal securities class action ConocoPhillips as Concho’s October 21, 2021, the court issued an order appointing Pension Trust their consolidated complaint alleging that business and operations in violation of the federal fees, costs, equitable/injunctive allegations in the action are without merit, and we Long-Term Throughput We have certain throughput agreements typically provide for business. 7 2023—$ 7 7 7 7 43 Total 27 25 25 |
Derivative and Financial Instruments |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Derivative and Financial Instruments [Abstract] | |
Derivative and Financial Instruments | Note 12—Derivative and Financial Instruments We use futures, forwards, opportunities, and manage foreign exchange Commodity Derivative Instruments Our commodity business primarily consists of natural Commodity derivative instruments have the right of setoff, on our consolidated statement recognized either on a gross and losses related to contracts settlement. apply hedge accounting for our commodity The following table presents the gross items where they appear on our consolidated Millions of Dollars 2021 2020 Assets Prepaid expenses and other current $ 1,168 229 Other assets 75 26 Liabilities Other accruals 1,160 202 Other liabilities and deferred credits 63 18 The gains (losses) from commodity derivatives income statement were: Millions of Dollars 2021 2020 2019 Sales and other operating revenues $ (228) 19 141 Other income (loss) 25 4 4 Purchased commodities 75 11 (118) On January 15, 2021, we assumed financial derivative instruments connection with the acquisition of Concho. were recognized at fair 456 December 31, 2022. 305 associated with the acquired financial instruments on our consolidated income statement. 761 million during 2021. Operating Activities” on our consolidated The table below summarizes our material contracts: Open Position Long/(Short) 2021 2020 Commodity Natural gas and power (billions Fixed price 4 (20) Basis (22) (10) Foreign Currency Exchange We have foreign exchange derivative activity exposures, such as firm commitments for returns from net investments Our foreign currency exchange Related cash flows are included not elect hedge accounting on our foreign The following table presents the gross collateral, and the line items where Millions of Dollars 2021 2020 Assets Prepaid expenses and other current $ 28 2 Liabilities Other accruals 9 16 The (gains) losses from foreign on our consolidated income statement Millions of Dollars 2021 2020 2019 Foreign currency transaction $ (5) (40) 16 We had the following net notional In Millions Notional Currency 2021 2020 Foreign Currency Exchange Buy British pound, sell euro GBP 155 - Sell British pound, buy euro GBP - 5 Sell Canadian dollar, CAD - 370 Buy Canadian dollar, CAD 77 - Buy Australian dollar, AUD 1,850 - At December 31, 2021, we had outstanding foreign currency exchange forward contracts to buy $1.9 billion AUD at $0.715 AUD against the U.S. dollar in anticipation of our future acquisition of an additional interest in APLNG. At December 31, 2020, we had outstanding foreign currency exchange forward contracts to sell $0.45 billion CAD at $0.748 CAD against the U.S. dollar . Financial Instruments We invest in financial currency pools we manage. ● Time deposits: Interest bearing deposits time. ● Demand deposits: withdrawn without notice. ● Commercial paper: Unsecured promissory agency purchased at a discount to ● U.S. government or government government agencies. ● Foreign government obligations: ● Corporate bonds: ● Asset-backed securities: Collateralized The following investments table reflects remaining maturities Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long- Term Receivables 2021 2020 2021 2020 2021 2020 Cash $ 670 597 Demand Deposits 1,554 1,133 Time Deposits 1 to 90 days 2,363 1,225 217 2,859 91 to 180 days 4 448 Within one year 4 13 One year through five years - 1 U.S. Government Obligations 1 to 90 days 431 23 - - $ 5,018 2,978 225 3,320 - 1 The following investments consolidated balance sheet at December 31, 2021 and Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long- Term Receivables 2021 2020 2021 2020 2021 2020 Major Security Type Corporate Bonds $ 3 - 128 130 173 143 Commercial Paper 7 13 82 155 U.S. Government Obligations - - - 4 2 13 U.S. Government Agency 2 - 8 17 Foreign Government Obligations 7 - 2 2 Asset-backed Securities 2 - 63 41 $ 10 13 221 289 248 216 Cash and Cash Equivalents and Short-Term Investments and Long-Term eight years. The following table summarizes the as available for sale at December 31: Millions of Dollars Amortized Cost Basis Fair Value 2021 2020 2021 2020 Major Security Type Corporate Bonds $ 305 271 304 273 Commercial Paper 88 168 89 168 U.S. Government Obligations 2 17 2 17 U.S. Government Agency Obligations 10 17 10 17 Foreign Government Obligations 9 2 9 2 Asset-Backed Securities 65 41 65 41 $ 479 516 479 518 As of December 31, 2021 and 2020, total unrealized net losses were negligible. an unrealized loss position for which an For the years securities classified as available for sale were 594 422 losses included in earnings from those sales and redemptions redeemed is determined using the specific identification Credit Risk Financial instruments potentially exposed short-term investments, long-term Our cash equivalents and short-term market funds, U.S. government and financial institutions, high-quality corporate securities. securities, U.S. government and government deposits with major international banks The credit risk from our OTC derivative counterparty to the transaction. and includes the use of cash-call margins when appropriate, nonperformance. trades are cleared primarily with an settled; however, margin cash calls, as well as for cash Our trade receivables result primarily international customer base, which limits receivables have payment 30 days or less , and we continually monitor this exposure creditworthiness of the counterparties. credit, prepayments and surety counterparties that both buy from and others to be offset against 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 a liability position on December 31, 2021 and December 31, 2020, was $ 281 25 For these instruments, no rating had been downgraded below investment post $ 252 |
Fair Value Measurement |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Fair Value Measurement [Abstract] | |
Fair Value Measurement | Note 13—Fair Value We carry a portion of our assets and liabilities at price (i.e., the price that would be received to sell an the quality of valuation inputs under the fair value The classification of an asset or liability is based on the lowest are initially classified as Level 3 are subsequently inputs is inconsequential to the overall liabilities initially reported as Level 2 are subsequently available. Recurring Fair Value Financial assets and liabilities reported at fair common shares, our investment ● Level 1 derivative assets and valued using unadjusted prices available in common shares of CVE, which is valued using government obligations classified ● Level 2 derivative assets and contracts that are valued companies that are all corroborated classified as available for sale including securities, U.S. government agency obligations pricing provided by brokers ● Level 3 derivative assets and where a significant portion of fair value The derived value uses industry standard various commodities, modeled market measures. not material for all periods presented. The following table summarizes the where the right of setoff exists Millions of Dollars December 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Investment in Cenovus Energy $ 1,117 - - 1,117 1,256 - - 1,256 Investments in debt securities 2 477 - 479 17 501 - 518 Commodity derivatives 562 619 62 1,243 142 101 12 255 Total $ 1,681 1,096 62 2,839 1,415 602 12 2,029 Liabilities Commodity derivatives $ 593 543 87 1,223 120 91 9 220 Total $ 593 543 87 1,223 120 91 9 220 The following table summarizes those presented on our consolidated multiple derivative instruments 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 December 31, 2021 Assets $ 1,243 85 1,158 650 508 - 508 Liabilities 1,223 82 1,141 650 491 36 455 December 31, 2020 Assets $ 255 2 253 157 96 10 86 Liabilities 220 1 219 157 62 4 58 At December 31, 2021 and December 31, 2020, we did not present balance sheet where we had the right of setoff. Non-Recurring Fair Value The following table summarizes the accounted for at fair value Millions of Dollars Fair Value Measurements Fair Value Level 1 Inputs Level 2 Inputs Level 3 Inputs Before-Tax Loss Year ended Net PP&E (held for use) $ 472 - - 472 80 Equity Method Investments 5,574 - 5,574 - 688 Year ended December 31, Net PP&E (held for use) $ 65 - - 65 522 268 - - 268 287 Net PP&E (held for use) During 2021 and 2020, the estimated fair value declined to amounts below the carrying values. values were estimated based estimated future production, with pricing service companies and our internal outlook expenditures, and a discount rate The range and arithmetic average significant assets were as follows: Fair Value (Millions of Dollars) Valuation Technique Unobservable Inputs Range (Arithmetic Average) December 31, 2021 Lower 48 Gulf Coast and Rockies noncore field $ 472 Discounted cash flow Commodity production (MBOED) 0.2 17 5.4 ) Commodity price outlook* ($/BOE) $ 41.45 93.68 64.39 ) Discount rate** 7.3 % 9.7 % ( 8.7 %) *Commodity price outlook based on a combination of external 2.0 % annually after year 2050. **Determined as the weighted average cost Fair Value (Millions of Dollars) Valuation Technique Unobservable Inputs Range (Arithmetic Average) March 31, 2020 Wind River Basin $ 65 Discounted cash flow Natural gas production (MMCFD) 8.4 55.2 22.9 ) Natural gas price outlook* ($/MMBTU) $ 2.67 9.17 5.68 ) Discount rate** 7.9 % - 9.1 % ( 8.3 %) *Henry Hub natural gas price outlook based on a combination 2.2 % annually after year 2034. **Determined as the weighted average cost Fair Value (Millions of Dollars) Valuation Technique Unobservable Inputs Range (Arithmetic Average) December 31, 2020 Central Basin Platform $ 244 Discounted cash flow Commodity production (MBOED) 0.5 12.7 3.4 ) Commodity price outlook* ($/BOE) $ 37.35 115.29 ($ 73.80 ) Discount rate** 6.8 % - 7.7 % ( 7.4 %) *Commodity price outlook based on a combination of external 2.0 % annually after year 2050. **Determined as the weighted average cost Equity Method Investments During the fourth quarter of 2021, Origin Energy Limited 10 for $ 1.645 exercising our preemption shareholding interest in APLNG, subject right was determined to reflect below the carrying value of our existing down to its fair value of $ 5,574 688 . Reported Fair Values We used the following methods ● Cash and cash equivalents and short-term investments: sheet approximates fair carrying amount reported on the balance sheet ● Accounts and notes receivable (including the balance sheet approximates fair value of the current portion of fixed related parties. ● Investment in Cenovus Energy: investment in CVE common shares. ● Investments in debt securities classified securities categorized as Level value of investments in debt pricing provided by brokers . ● Loans and advances—related parties: The carrying The fair value of fixed-rate Level 2 in the fair value hierarchy. ● Accounts payable (including related payable and floating-rate ● Fixed-rate debt: The estimated pricing service that is corroborated the fair value hierarchy. ● Commercial paper: The carrying amount of our commercial and is reported on the balance sheet as short-term The following table summarizes the exists for commodity derivatives): Millions of Dollars Carrying Amount Fair Value 2021 2020 2021 2020 Financial assets Investment in CVE common shares $ 1,117 1,256 1,117 1,256 Commodity derivatives 593 88 593 88 Investments in debt securities 479 518 479 518 Loans and advances—related parties 114 220 114 220 Financial liabilities Total 18,673 14,478 22,451 19,106 Commodity derivatives 537 59 537 59 Commodity Derivatives At December 31, 2021, commodity derivative no cash collateral and $ 36 derivative assets and liabilities are presented 10 $ 4 |
Equity |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Equity [Abstract] | |
Equity | Note 14—Equity Common Stock The changes in our shares of common stock, Shares 2021 2020 2019 Issued Beginning of year 1,798,844,267 1,795,652,203 1,791,637,434 Acquisition of Concho 285,928,872 - - Distributed under benefit plans 6,789,608 3,192,064 4,014,769 End of year 2,091,562,747 1,798,844,267 1,795,652,203 Held in Treasury Beginning of year 730,802,089 710,783,814 653,288,213 Repurchase of common stock 58,517,786 20,018,275 57,495,601 End of year 789,319,875 730,802,089 710,783,814 Preferred Stock We have authorized 500 0.01 none outstanding at December 31, 2021 or 2020. Noncontrolling Interests In the second quarter of 2020, we completed the divestiture and operations. there was a noncontrolling interest. interests. Repurchase of Common Stock In late 2016, we initiated our current of $ 25 proceeds of which have been applied to program totaled 247 14 |
Non-Mineral Leases |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Non-Mineral Leases [Abstract] | |
Non-Mineral Leases | Note 15—Non-Mineral Leases The company primarily leases office buildings corporate aircraft, payments to reflect changes in nature of usage of the leased asset. option to extend or renew the term of purchase the leased asset as of the end of the lease term. agreements that require it to information about guarantees, There are no significant restrictions agreements with regard to Certain arrangements may or contains a lease at contract Topic 842) and Topic 840 “Leases” the provisions of ASC Topic guidance; however, apart from non-lease components for company’s leased asset Topic 842 and will be applied arrangements executed contract inception whether it will apply Leases are evaluated for classification right-of-use assets and corresponding present value of future lease payments lease payments include variable lease payments commencement date and probable payments may be increased to purchase options when the company has limited asset availability or operating incremental borrowing rate the interest rate implicit in to the commencement date based on future contingencies are not included in the measurement have elected not to record terms of 12 months or less. We often enter into gas joint ventures of undivided interests. operator and there is no separate recognize at lease commencement balance sheet on a gross basis. and statement of cash flows, share of the lease cost as the underlying leased asset presented in our consolidated nonoperating coventurer, specified contractual party to the lease arrangement this circumstance, we would recogni consolidated balance sheet on a proportional joint venture. The company has historically recorded the proportionate consolidation consistent with its ownership finance lease assets and liabilities associated with certain pursuant to accounting guidance applicable of ASC Topic 842, and expedients, the historical accounting reconsideration upon the modification expiration. The following table summarizes the leases on our consolidated balance sheet as of December 31: Millions of Dollars 2021 2020 Operating Leases Finance Leases Operating Leases Finance Leases Right-of-Use Assets Properties, plants and equipment Gross $ 1,812 1,375 Accumulated DD&A (857) (721) Net PP&E * 955 654 Prepaid expenses and other current $ 16 2 Other assets 649 783 Lease Liabilities Short-term debt ** $ 280 168 Other accruals 188 226 Long-term debt *** 981 723 Other liabilities and deferred credits 479 559 Total $ 667 1,261 785 891 * 208 258 154 97 *** 462 522 2020. The following table summarizes our Millions of Dollars 2021 2020 2019 Lease Cost * Operating lease cost $ 278 321 341 Finance lease cost Amortization of right-of-use assets 148 163 99 Interest on lease liabilities 27 34 37 Short-term lease cost ** 21 42 77 Total *** $ 474 560 554 * coventurers. ** *** 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 2021 2020 Lease Term Weighted-average Operating leases 5.97 6.11 Finance leases 7.49 7.12 Weighted-average Operating leases 2.66 2.78 Finance leases 3.24 4.27 The following table summarizes other Millions of Dollars 2021 2020 2019 Other Information * Cash paid for amounts included in the measurement Operating cash flows from operating $ 204 232 203 Operating cash flows from finance 6 11 27 Financing cash flows from finance leases 73 255 81 Right-of-use assets obtained $ 174 250 499 Right-of-use assets obtained 447 426 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 Millions of Dollars Operating Leases Finance Maturity of Lease Liabilities 2022 $ 195 341 2023 143 199 2024 114 166 2025 68 143 2026 50 139 Remaining years 159 462 Total * 729 1,450 Less: portion representing imputed (62) (189) Total $ 667 1,261 *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. 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. |
Employee Benefit Plans |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Employee Benefit Plans [Abstract] | |
Employee Benefit Plans | Note 16—Employee Benefit Plans Pension and Postretirement An analysis of the projected benefit obligations our postretirement health and life Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int’l. U.S. Int’l. Change in Benefit Obligation Benefit obligation at January 1 $ 2,548 4,403 2,319 3,880 170 216 Service cost 73 61 85 54 2 2 Interest cost 53 79 66 85 4 6 Plan participant contributions - - - 1 16 18 Plan amendments - - - 2 - (30) Actuarial (gain) loss (117) (176) 319 398 (16) 7 Benefits paid (654) (162) (241) (151) (40) (49) Curtailment 12 - - 2 1 - Recognition of termination benefits 9 - - 3 - - Foreign currency exchange - (81) - 129 - - Benefit obligation at December 31 * $ 1,924 4,124 2,548 4,403 137 170 *Accumulated benefit obligation portion of above at $ 1,793 3,658 2,359 4,095 Change in Fair Value Fair value of plan assets at January $ 1,770 4,793 1,591 4,306 - - Actual return on plan assets 97 147 321 416 - - Company contributions 451 119 99 60 24 31 Plan participant contributions - 1 - 1 16 18 Benefits paid (654) (162) (241) (151) (40) (49) Foreign currency exchange - (86) - 161 - - Fair value of plan assets at December 31 $ 1,664 4,812 1,770 4,793 - - Funded Status $ (260) 688 (778) 390 (137) (170) Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int’l. U.S. Int’l. Amounts Recognized in the Consolidated Balance Sheet at December 31 Noncurrent assets $ 1 991 - 746 - - Current liabilities (29) (15) (56) (11) (34) (39) Noncurrent liabilities (232) (288) (722) (345) (103) (131) Total $ (260) 688 (778) 390 (137) (170) Weighted-Average Determine Benefit Obligations at December 31 Discount rate 2.80 % 2.15 2.30 1.80 2.65 2.15 Rate of compensation increase 4.00 3.40 4.00 3.10 Interest crediting rate 2.50 2.10 Weighted-Average Determine Net Periodic Benefit Cost Years Ended Discount rate 2.60 % 1.80 3.05 2.35 2.35 3.10 Expected return on plan assets 5.20 2.50 5.80 3.60 Rate of compensation increase 4.00 3.40 4.00 3.35 Interest crediting rate 2.10 4.10 For both U.S. and international pension expected future return of each asset class. class of assets. During 2021, the actuarial gains related related to an increase in the discount obligations for U.S. and international The following tables summarize information accumulated benefit obligations Millions of Dollars Pension Benefits 2021 2020 U.S. Int’l. U.S. Int’l. Pension Plans with Projected Benefit Obligation Excess of Plan Assets Projected benefit obligation $ 261 362 2,548 391 Fair value of plan assets - 58 1,770 35 Pension Plans with Accumulated Benefit Excess of Plan Assets Accumulated benefit obligation $ 234 271 2,359 338 Fair value of plan assets - 9 1,770 35 Included in accumulated other comprehensive amounts that had not been recognized Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int’l. U.S. Int’l. Unrecognized net actuarial loss $ 188 86 467 326 (1) 14 Unrecognized prior service cost - 1 - - (145) (182) Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int’l. U.S. Int’l. Sources of Change in Other Comprehensive Income (Loss) Net gain (loss) arising during the period $ 134 207 (83) (120) 16 (7) Amortization of actuarial loss included in income (loss)* 145 33 95 21 - 1 Net change during the period $ 279 240 12 (99) 16 (6) Prior service credit (cost) arising during the period $ - - - (1) - 30 Amortization of prior service (credit) included in income (loss) - (1) - (1) (37) (31) Net change during the period $ - (1) - (2) (37) (1) *Includes settlement (gains) losses recognized in 2021 and 2020. The components of net periodic benefit cost of all defined Millions of Dollars Pension Benefits Other Benefits 2021 2020 2019 2021 2020 2019 U.S. Int’l. U.S. Int’l. U.S. Int’l. Components of Net Periodic Benefit Cost Service cost $ 73 61 85 54 79 69 2 2 1 Interest cost 53 79 66 85 79 97 4 6 8 Expected return on plan assets (80) (120) (85) (145) (74) (138) - - - Amortization of prior service credit - (1) - (1) - (2) (37) (31) (33) Recognized net actuarial loss (gain) 43 33 51 22 54 32 - 1 (2) Settlements loss (gain) 102 - 44 (1) 62 - - - - Curtailment loss 12 - - - - - - - - Net periodic benefit cost $ 203 52 161 14 200 58 (31) (22) (26) The components of net periodic benefit cost, expenses” line item on our consolidated We recognized pension 102 43 62 lump-sum benefit payments from certain interest costs for In determining net pension and other postretirement line basis over the average net actuarial gains and losses, we amortize 10 We have multiple non-pension are contributory and subject to various annually; the life insurance plans accumulated postretirement 6.5 declines to 5 benefit obligation assumes a health care 4.25 5 2028. Plan Assets We follow a policy of broadly result, our plan assets have no significant appropriate include U.S. equities, private equity investments. from time to time. 22 74 securities, 3 1 therefore minimizing liquidity risk The following is a description of the valuation no changes in the methodologies used at December 31, 2021 and ● Fair values of equity securities and government on quoted market prices in active ● Fair values of corporate securities categorized in Level prices for similar assets and liabilities in active markets that are not active. value is calculated by pricing models that market prices. models that use something other than actual market yields, reported trades and issuer spreads Level 3 of the fair value hierarchy. ● Fair values of investments on the fair value of the underlying assets. ● Fair values of mutual funds are based shares held. ● Time deposits are valued at cost, ● Cash is valued at cost, which approximates categorized in Level 2 are balances held in the form of short-term fund units categorized as Level 2. ● Fair values of exchange other derivatives classified in Level 2, the values input parameters from third ● Fair values of insurance contracts the insurance company to ● Fair values of real estate methods that include reference ● A portion of U.S. pension plan assets is held as a participating interest which is calculated as the market benefit obligation covered by value hierarchy as executed transactions, December 31, 2021, the participating interest 83 consisted of $ 206 123 covered by the contract. valued at $ 94 233 139 accumulated benefit obligation meeting general pension benefit obligations required and no new benefits are being accrued under The fair values of our pension plan assets at Millions of Dollars U.S. International Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 2021 Equity securities U.S. $ 3 - 5 8 - - - - International 42 - - 42 - - - - Mutual funds 17 - - 17 236 403 - 639 Debt securities Corporate - 1 - 1 - - - - Mutual funds - - - - 511 - - 511 Cash and cash equivalents - - - - 68 - - 68 Real estate - - - - - - 157 157 Total in fair $ 62 1 5 68 815 403 157 1,375 Investments measured at net asset value* Equity securities Common/collective trusts $ 394 417 Debt securities Common/collective trusts 1,073 3,015 Cash and cash equivalents 9 - Real estate 36 1 Total** $ 62 1 5 1,580 815 403 157 4,808 **Excludes the participating interest in the insurance annuity contract with a net asset of $ 83 5 The fair values of our pension plan assets at Millions of Dollars U.S. International Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 2020 Equity securities U.S. $ - 3 5 8 - - - - International 99 - - 99 - - - - Mutual funds 72 - - 72 235 384 - 619 Debt securities Corporate - 1 - 1 - - - - Mutual funds - - - - 455 - - 455 Cash and cash equivalents - - - - 74 - - 74 Derivatives - - - - 6 - - 6 Real estate - - - - - - 142 142 Total in fair $ 171 4 5 180 770 384 142 1,296 Investments measured at net asset value* Equity securities Common/collective trusts $ 678 372 Debt securities Common/collective trusts 730 3,007 Cash and cash equivalents 8 - Real estate 79 112 Total** $ 171 4 5 1,675 770 384 142 4,787 **Excludes the participating interest in the insurance annuity contract with a net asset of $ 94 7 Level 3 activity was not material for all periods. Our funding policy for U.S. plans is to contribute Income Security Act of 1974 and the Internal Revenue are dependent upon local laws and tax 115 to our domestic qualified and nonqualified pension 80 international qualified and nonqualified pension and The following benefit payments, and which reflect expected future Millions of Dollars Pension Other Benefits Benefits U.S. Int’l. 2022 $ 369 152 21 2023 185 152 18 2024 176 158 15 2025 154 162 14 2026 144 164 12 2027–2031 557 893 44 The following table summarizes our Millions of Dollars 2021 2020 2019 Balance at January 1 $ 24 23 48 Accruals 170 14 (1) Benefit payments (116) (13) (24) Balance at December 31 $ 78 24 23 Accruals include severance costs balance at December 31, 2021, $ 43 Defined Contribution Plans Most U.S. employees are eligible up to 75 17 Employees who participate in the CPSP and contribute 1 6 cash match with a potential company 6 new employees, rehires, and employees eligible to receive a Company Retirement 6 three years 100 charged to expense for the CPSP and 93 62 82 million in 2019. We have several depending on location. $ 26 25 30 Share-Based Compensation Plans The 2014 Omnibus Stock and Performance Incentive shareholders in May 2014, replacing the prior plans. 10 -year life, the Plan allows the issuance 79 for compensation to our employees common stock available for by awards granted shares of common stock or which result available for awards 79 40 Compensation Committee of our Board limitations of awards granted. stock units and performance share units company’s continued Total awards and the settlement date compensation expense over the shorter award); or the period beginning at the start eligible for retirement, but not be subject to forfeiture. waiver of the remaining period of service required their retirement. while some of our awards cliff vest straight-line basis over the service period for vesting. Compensation Expense —Total associated tax benefit were: Millions of Dollars 2021 2020 2019 Compensation cost $ 304 159 274 Tax benefit 76 40 71 Stock Options —Stock options granted under common stock at exercise the date the options were granted. of the options awarded vesting and Options awarded to certain employees those options do not become exercisable option grants were discontinued will be cash-settled for 2018 and 2019 awards The following summarizes our stock Millions of Dollars Weighted-Average Aggregate Options Exercise Price Intrinsic Value Outstanding at December 31, 2020 16,922,525 $ 55.12 $ 22 Exercised (3,846,361) 51.40 68 Expired or cancelled (1,102,381) 53.47 Outstanding at December 31, 2021 11,973,783 $ 56.46 $ 188 Vested at December 11,973,783 $ 56.46 $ 188 Exercisable at December 31, 2021 11,973,783 $ 56.46 $ 188 The weighted-average remaining at December 31, 2021, were all 3.06 23 2020 and $ 39 During 2021, we received $ 198 15 options. compensation cost to be recorded. Stock Unit Program— Generally, vest in an aggregate installment granted under the Plan for a variable beginning on the first anniversary of the grant retain key personnel, Stock-Settled Upon vesting, these restricted stock unit. are not issued as common stock until scheduled vesting period. payment of a dividend equivalent or earnings. ConocoPhillips stock price on the grant dividend equivalent while unvested less the net present value of the dividends that The following summarizes our stock Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 6,431,985 $ 58.94 Granted 4,590,103 46.56 Forfeited (566,047) 48.59 Issued (2,810,730) 54.74 $ 144 Outstanding at December 31, 2021 7,645,311 $ 53.81 Not Vested at 5,509,133 53.81 At December 31, 2021, the remaining unrecognized $ 126 1.67 2.59 years. 57.40 and $ 67.77 , respectively. 143 $ 225 Cash-Settled Cash settled executive restricted restricted stock units, subject to of ConocoPhillips common stock per unit sheet. are not settled until the earlier of separation period. stock and is subsequently adjusted, subsequent reporting period, through equivalent that is charged to settlement, subject to the terms and granted in 2020 awards will be The following summarizes our cash Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 614,615 $ 39.95 Granted 11,186 57.19 Forfeited (2,927) 51.43 Issued (396,398) 50.75 $ 20 Outstanding at December 31, 2021 226,476 $ 72.18 Not Vested at 59,443 72.18 At December 31, 2021, there was no cash-settled units. were $ 41.59 68.20 , respectively. negligible and $ 6 Performance Share Program —Under the Plan, we also annually grant restricted senior management. period). common stock and is subsequently adjusted, of each subsequent reporting period, through cash-settled awards. Stock-Settled For performance periods beginning before retirement by reaching age 55 from the company. vest until the earlier of the date the employee of service or five years after the grant employee’s separation the lapsing of restrictions until separation). the grant date and ending on the date years prior to the effective recognize compensation expense grant. is charged to retained earnings. election to defer, compensation expense over the period beginning performance period. The following summarizes our stock December 31, 2021: Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 1,736,728 $ 50.56 Issued (287,881) 49.91 $ 18 Outstanding at December 31, 2021 1,448,847 $ 50.69 Not Vested at 3,191 $ 48.61 At December 31, 2021, there was no stock-settled performance share during 2020 and 2019 was $ 58.61 68.90 , respectively. 2020 and 2019 was $ 13 25 Cash-Settled In connection with and immediately following PSUs, subject to a shortened performance period, employee election to defer, becomes eligible for retirement. recognize compensation expense grant. PSUs are scheduled to vest. ConocoPhillips common stock per unit on sheet. that is charged to compensation expense. Beginning in 2013, PSUs authorized for future three-year performance period. authorization and ending at the conclusion the fair market value of a share as liabilities on the balance sheet. period, recipients of the PSUs do not receive a performance period ends, until settlement of a dividend equivalent that is charged recipients of the PSUs receive an accrued reinvested The accrued reinvested dividend award. The following summarizes our cash December 31, 2021: Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 124,529 $ 39.95 Granted 1,073,228 46.65 Settled (1,080,078) 48.13 $ 52 Outstanding at December 31, 2021 117,679 $ 72.18 At December 31, 2021, all outstanding no remaining compensation cost to granted during 2020 and 2019 was $ 58.61 68.90 , respectively. performance share awards 116 171 From inception of the Performance Share conclusion of performance periods. beginning of new performance periods. performance periods and will be settled after the awards were issued for open beginning in 2012, the initial target PSU awards were replaced with approved PSU awards terminated at period ended. Other —In addition to the above active programs, stock units that were either issued former members of the company’s been discontinued or acquired as a result units receive a dividend or dividend equivalent. The following summarizes the aggregate December 31, 2021: Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 970,099 $ 47.78 Granted 797,704 46.43 Cancelled (1,948) 27.80 Issued (149,488) 46.80 $ 8 Outstanding at December 31, 2021 1,616,367 $ 47.24 Not Vested at 695,958 $ 45.87 At December 31, 2021, the remaining compensation 20 which will be recognized over a weighted-average 1.46 2 weighted-average 51.46 63.58 , respectively. 6 11 respectively. |
Income Taxes |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Income Taxes [Abstract] | |
Income Taxes | Components of income tax provision Millions of Dollars 2021 2020 2019 Income Taxes Federal Current $ 32 3 18 Deferred 1,161 (625) (113) Foreign Current 3,128 350 2,545 Deferred 66 (70) (323) State and local Current 127 (4) 148 Deferred 119 (139) (8) Total $ 4,633 (485) 2,267 Deferred income taxes assets and liabilities for financial reporting purposes of deferred tax liabilities and Millions of Dollars 2021 2020 Deferred Tax PP&E and intangibles $ 10,170 7,744 Inventory 44 64 Other 213 242 Total 10,427 8,050 Deferred Tax Benefit plan accruals 321 540 Asset retirement obligations 2,297 2,262 Investments in joint ventures 1,684 1,653 Other financial accruals and deferrals 827 907 Loss and credit carryforwards 7,402 8,904 Other 399 365 Total 12,930 14,631 Less: valuation allowance (8,342) (9,965) Total 4,588 4,666 Net deferred tax liabilities $ 5,839 3,384 At December 31, 2021, noncurrent assets 340 6,179 respectively. 363 $ 3,747 At December 31, 2021, the loss and credit carryforward tax credit carryforwards 5.5 1.9 billion. Our overall deferred 1.1 The following table shows a reconciliation for 2021, 2020 and 2019: Millions of Dollars 2021 2020 2019 Balance at January 1 $ 9,965 10,214 3,040 Charged to expense (benefit) (45) 460 (225) Other* (1,578) (709) 7,399 Balance at December 31 $ 8,342 9,965 10,214 *Represents changes due to originating deferred tax asset that have no impact to our effective tax rate, acquisitions/dispositions/revisions and the effect of translating foreign financial statements. Valuation allowances not, be realized. U.S. foreign tax credit During 2021, the valuation allowance movement measurement of our CVE common shares that certain U.S. tax attributes by Australian tax benefits movements are primarily related taxable income, expectations tax assets, net of valuation more information on our pending Indonesia During 2020, the valuation allowance movement and to the fair value measurement of our movements are primarily related On December 2, 2019, the Internal Revenue Service finalized Cuts and Jobs Act. 151 million of net deferred tax 6,642 carryovers where recognition realization unlikely and At December 31, 2021, unremitted and foreign corporate 4,384 provided on this amount, as we do not plan to The estimated amount of additional tax, distributed is approximately 219 The following table shows a reconciliation 2020 and 2019: Millions of Dollars 2021 2020 2019 Balance at January 1 $ 1,206 1,177 1,081 Additions based on tax positions related 15 6 9 Additions for tax positions of prior years 177 67 120 Reductions for tax positions (5) (34) (22) Settlements - (9) (9) Lapse of statute (48) (1) (2) Balance at December 31 $ 1,345 1,206 1,177 Included in the balance of unrecognized tax 1,261 1,128 and $ 1,100 unrecognized tax benefits acquisition. PDVSA settlement. At December 31, 2021, 2020 and 2019, accrued liabilities for 47 46 and $ 42 earnings of $ 1 4 3 We file tax returns jurisdictions are generally complete as for audited years and audits jurisdictions in which we operate around be expected to fluctuate from that could significantly impact our total significant when compared with our total In January 2022, the IRS closed the 2017 audit of our U.S. federal of 2022, we will recognize a previously 475 outside tax basis previously offset The amounts of U.S. and foreign income statutory rate Millions of Dollars Percent of Pre-Tax 2021 2020 2019 2021 2020 2019 Income (loss) before income taxes United States $ 8,024 (3,587) 4,704 63.1 % 114.2 49.4 Foreign 4,688 447 4,820 36.9 (14.2) 50.6 $ 12,712 (3,140) 9,524 100.0 % 100.0 100.0 Federal statutory $ 2,670 (659) 2,000 21.0 % 21.0 21.0 Non-U.S. effective tax 1,915 194 1,399 15.1 (6.2) 14.7 Tax impact of debt 75 - - 0.6 - - Australia disposition - (349) - - 11.1 - U.K. disposition - - (732) - - (7.7) Recovery of outside basis (55) (22) (77) (0.4) 0.7 (0.8) Adjustment to tax reserves (11) 18 9 (0.1) (0.6) 0.1 Adjustment to valuation allowance (45) 460 (225) (0.4) (14.6) (2.4) State income tax 194 (112) 123 1.5 3.6 1.3 Malaysia Deepwater Incentive - - (164) - - (1.7) Enhanced oil recovery credit (99) (6) (27) (0.8) 0.2 (0.3) Other (11) (9) (39) (0.1) 0.3 (0.4) Tota $ 4,633 (485) 2,267 36.4 % 15.5 23.8 Our effective tax rate impacts from routine tax credits primarily related to the fair value 218 ability to utilize the U.S. foreign Indonesia entities of $ 29 tax impact of the impairment of our APLNG investment 206 benefit. Our effective tax rate valuation allowance related disposition generated a before-tax 587 10 the de-recognition of deferred 92 Australia capital loss tax 313 changes in the fair market value 178 offset the expected capital Our effective tax rate generated a before-tax 1.7 335 disposition generated a U.S. 2.1 approximately $ 285 with a valuation allowance. During 2019, we received final partner approval result, we recorded an income tax 164 |
Accumulated Other Comprehensive Loss |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Loss | Note 18—Accumulated Other Comprehensive Accumulated other comprehensive Millions of Dollars Defined Benefit Plans Net Unrealized Gain/(Loss) on Securities Foreign Currency Translation Accumulated Other Comprehensive Loss December 31, 2018 $ (361) - (5,702) (6,063) Other comprehensive income (loss) 51 - 695 746 Cumulative effect of adopting (40) - - (40) December 31, 2019 (350) - (5,007) (5,357) Other comprehensive income (75) 2 212 139 December 31, 2020 (425) 2 (4,795) (5,218) Other comprehensive income (loss) 394 (2) (124) 268 December 31, 2021 $ (31) - (4,919) (4,950) 2019. During 2019, we recognized $ 483 our sale of two ConocoPhillips U.K. subsidiaries. The following table summarizes reclassifications ended December 31: Millions of Dollars 2021 2020 Defined Benefit Plans $ 109 72 Above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of: $ 31 13 See Note 16. |
Cash Flow Information |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Cash Flow Information [Abstract] | |
Cash Flow Information | Note 19—Cash Flow Information Millions of Dollars 2021 2020 2019 Noncash Investing Activities Increase (decrease) in PP&E related to retirement obligations $ 442 (116) 205 Cash Payments Interest $ 924 785 810 Income taxes 856 905 2,905 Net Sales (Purchases) of Investments Short-term investments $ (5,554) (12,435) (4,902) Short-term investments 8,810 12,015 2,138 Investments and long-term receivables (279) (325) (146) Investments and long-term receivables 114 87 - $ 3,091 (658) (2,910) The following items are included in the “Cash flows. In 2021, we made a total of $ 297 $ 324 We collected $ 330 Tribunal in 2018. See sheet associated with our Concho acquisition. |
Other Financial Information |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Other Financial Information [Abstract] | |
Other Financial Information | Note 20—Other Financial Information Millions of Dollars 2021 2020 2019 Interest and Debt Expense Incurred Debt $ 887 788 799 Other 59 73 36 946 861 835 Capitalized (62) (55) (57) Expensed $ 884 806 778 Other Income (Loss) Interest income $ 33 100 166 Gain (loss) on investment in Cenovus 1,040 (855) 649 Other, net 130 246 543 $ 1,203 (509) 1,358 *See Note 5. Research and Development Expenditures —expensed $ 62 75 82 Shipping and Handling Costs $ 1,047 857 1,008 Foreign Currency Transaction —after-tax Alaska $ - - - Lower 48 - - - Canada (1) (7) 5 Europe, Middle East and North Africa (11) (15) - Asia Pacific 2 (11) 31 Other International 1 2 1 Corporate and Other (7) (31) 21 $ (16) (62) 58 Millions of Dollars 2021 2020 Properties, Plants and Equipment Proved properties* $ 114,274 ** 94,312 Unproved properties* 10,993 4,141 Other 4,379 3,653 Gross properties, plants and equipment 129,646 102,106 Less: Accumulated depreciation, (64,735) ** (62,213) Net properties, plants and equipment $ 64,911 39,893 *Proved and Unproved properties increased by $ 20.0 6.9 **Excludes assets classified as held for sale at December 31, 2021. |
Related Party Transactions |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 21—Related Party Our related parties primarily include equity method For disclosures on trusts for Significant transactions with our equity Millions of Dollars 2021 2020 2019 Operating revenues and other income $ 88 79 89 Purchases 5 - 38 Operating expenses and selling, general 196 63 65 Net interest income* (2) (5) (13) *We paid interest to, or received interest from, various affiliates. |
Sales and Other Operating Revenues |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Sales and Other Operating Revenues [Abstract] | |
Sales and Other Operating Revenues | Note 22—Sales and Other Operating Revenues Revenue from Contracts The following table provides further Millions of Dollars 2021 2020 2019 Revenue from contracts $ 34,590 13,662 26,106 Revenue from contracts Physical contracts 11,500 5,177 6,558 Financial derivative contracts (262) (55) (97) Consolidated sales and other operating $ 45,828 18,784 32,567 Revenues from contracts prices which qualify as derivatives accounted we have not elected NPNS. revenue from these contracts revenues is provided in conjunction Millions of Dollars 2021 2020 2019 Revenue from Outside the Scope of ASC Topic by Segment Lower 48 $ 9,050 3,966 4,989 Canada 1,457 727 691 Europe, Middle East and North Africa 993 484 878 Physical contracts $ 11,500 5,177 6,558 Millions of Dollars 2021 2020 2019 Revenue from Outside the Scope of ASC Topic by Product Crude oil $ 757 395 804 Natural gas 10,034 4,339 5,313 Other 709 443 441 Physical contracts $ 11,500 5,177 6,558 Practical Expedients Typically, may extend longer, 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. 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 Receivables from Contracts with Customers At December 31, 2021, the “Accounts receivables of $ 5,268 1,827 with customers within the scope of ASC Topic 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 prices for which we do not elect NPNS and are is little distinction in the nature of the customer under contracts for which NPNS elected. Contract Liabilities from Contracts with Customers We have entered into contractual arrangements where we license proprietary technology to customers related to the optimization process for operating LNG plants. The agreements 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, 2020 $ 97 Contractual payments received 15 Revenue recognized (62) At December 31, 2021 $ 50 Amounts Recognized in the Consolidated Current liabilities $ 50 We expect to recognize the contract liabilities as of December 31, 2021, as revenue during 2022. |
Segment Disclosures and Related Information |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Segment Disclosures and Related Information [Abstract] | |
Segment Disclosures and Related Information | Note 23—Segment Disclosures and Related We explore for, basis. six region: Alaska; Lower 48; Canada; Europe, Corporate and Other represents interest expense, premiums including licensing revenues. We evaluate performance Segment accounting policies are the same as those . market. In 2021, we completed our acquisition of Concho, with operations across New Mexico Delaware Basin. 31, 2021. Certain transaction and restructuring Other segment. Analysis of Results by Operating Segment Millions of Dollars 2021 2020 2019 Sales and Other Operating Revenues Alaska $ 5,480 3,408 5,483 Intersegment eliminations - (11) - Alaska 5,480 3,397 5,483 Lower 48 29,306 9,872 15,514 Intersegment eliminations (12) (51) (46) Lower 48 29,294 9,821 15,468 Canada 4,077 1,666 2,910 Intersegment eliminations (1,583) (405) (1,141) Canada 2,494 1,261 1,769 Europe, Middle East and North Africa 5,902 1,919 5,101 Intersegment eliminations - (2) - Europe, Middle East and North Africa 5,902 1,917 5,101 Asia Pacific 2,579 2,363 4,525 Other International 4 7 - Corporate and Other 75 18 221 Consolidated sales and other operating $ 45,828 18,784 32,567 The market for our products dependent upon any single customer. Millions of Dollars 2021 2020 2019 Depreciation, Depletion, Amortization Alaska $ 1,002 996 805 Lower 48 4,067 3,358 3,224 Canada 392 342 232 Europe, Middle East and North Africa 862 775 887 Asia Pacific 1,483 809 1,285 Other International - - - Corporate and Other 76 54 62 Consolidated depreciation, depletion, $ 7,882 6,334 6,495 Equity in Earnings of Affiliates Alaska $ 5 (7) 7 Lower 48 (18) (11) (159) Canada - - - Europe, Middle East and North Africa 502 311 470 Asia Pacific 343 137 461 Other International - 2 - Corporate and Other - - - Consolidated equity in earnings of affiliates $ 832 432 779 Income Tax Alaska $ 402 (256) 472 Lower 48 1,390 (378) 137 Canada 150 (185) (43) Europe, Middle East and North Africa 2,543 136 1,425 Asia Pacific 483 294 501 Other International (53) (20) 8 Corporate and Other (282) (76) (233) Consolidated income tax provision $ 4,633 (485) 2,267 Net Income (Loss) Attributable Alaska $ 1,386 (719) 1,520 Lower 48 4,932 (1,122) 436 Canada 458 (326) 279 Europe, Middle East and North Africa 1,167 448 3,170 Asia Pacific 453 962 1,483 Other International (107) (64) 263 Corporate and Other (210) (1,880) 38 Consolidated net income (loss) attributable $ 8,079 (2,701) 7,189 Millions of Dollars 2021 2020 2019 Investments in and Advances to Alaska $ 58 62 83 Lower 48 242 25 35 Canada - - - Europe, Middle East and North Africa 797 918 1,070 Asia Pacific 5,603 6,705 7,265 Other International 1 - - Corporate and Other - - - Consolidated investments $ 6,701 7,710 8,453 Total Assets Alaska $ 14,812 14,623 15,453 Lower 48 41,699 11,932 14,425 Canada 7,439 6,863 6,350 Europe, Middle East and North Africa 9,125 8,756 9,269 Asia Pacific 9,840 11,231 13,568 Other International 1 226 285 Corporate and Other 7,745 8,987 11,164 Consolidated total assets $ 90,661 62,618 70,514 Capital Expenditures and Investments Alaska $ 982 1,038 1,513 Lower 48 3,129 1,881 3,394 Canada 203 651 368 Europe, Middle East and North Africa 534 600 708 Asia Pacific 390 384 584 Other International 33 121 8 Corporate and Other 53 40 61 Consolidated capital expenditures $ 5,324 4,715 6,636 Interest Income and Expense Interest income Alaska $ - - - Lower 48 - - - Canada - - - Europe, Middle East and North Africa 2 5 11 Asia Pacific 9 7 6 Other International - - - Corporate and Other 22 88 149 Interest and debt expense Corporate and Other $ 884 806 778 Sales and Other Operating Revenues Crude oil $ 23,648 9,736 18,482 Natural gas 16,904 6,427 8,715 Natural gas liquids 1,668 528 814 Other* 3,608 2,093 4,556 Consolidated sales and other operating $ 45,828 18,784 32,567 *Includes LNG and bitumen. Geographic Information Millions of Dollars Sales and Other Operating Revenues (1) Long-Lived Assets (2) 2021 2020 2019 2021 2020 2019 United States $ 34,847 13,230 21,159 50,580 24,034 26,566 Australia and Timor-Leste 605 1,647 5,579 6,676 7,228 Canada 2,494 1,261 1,769 6,608 6,385 5,769 China 724 460 772 1,476 1,491 1,447 Indonesia (3) 879 689 875 28 464 605 Libya 1,102 155 1,103 659 670 668 Malaysia 975 610 1,230 1,252 1,501 1,871 Norway 2,563 1,426 2,349 4,681 5,294 5,258 United Kingdom 2,236 336 1,649 1 1 2 Other foreign countries 8 12 14 748 1,087 1,308 Worldwide consolidated $ 45,828 18,784 32,567 71,612 47,603 50,722 (1) Sales and other operating revenues are attributable to countries based on the location of the selling operation. (2) Defined as net PP&E plus equity investments and advances to affiliated companies. (3) Met held for sale criteria in 2021 in conjunction with our agreement to sell our subsidiary holding |
Accounting Policies (Policy) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Consolidation Principles and Investments | Consolidation Principles and Investments —Our consolidated financial statements majority-owned, controlled subsidiaries primary beneficiary. the ability to exert significant not have the ability to exert the investment does not have at cost minus impairment, plus or minus or similar investment of the same issuer. natural gas plants and terminals investments are generally six defined by geographic region: Pacific; and Other International. |
Foreign Currency Translation | Foreign Currency Translation —Adjustments resulting from the currency financial statements common stockholders’ equity. earnings. |
Use of Estimates | Use of Estimates —The preparation of financial statements management to make estimates revenues and expenses and the disclosures from these estimates. |
Revenue Recognition | Revenue Recognition —Revenues associated with and other items are recognized evaluating when a customer has control title and physical delivery has occurred, ownership and whether the customer has products are typically sold at prevailing to deliveries (performance obligations) our efforts to transfer expect to be entitled to in exchange Payment is typically due within 30 days or less. Revenues associated with transactions sale of inventory with the same counterparty combined and reported net (i.e., on the same income |
Shipping and Handling Costs | Shipping and Handling Costs —We typically incur shipping and handling to the customer and account for handling costs in production and operating related to marketing activities are treated as a component of the transaction customer obtains control. |
Cash Equivalents | Cash Equivalents —Cash equivalents are highly liquid, short-term to known amounts of cash and have They are carried at cost plus accrued interest, |
Short-Term Investments | Short-Term —Short-term investments marketable securities (commercial accrued interest and have remaining maturities are within one year. for sale debt securities which are carried at investments when they have |
Long-Term Investments in Debt Securities | Long-Term Investments —Long-term investments instruments classified as available as of the balance sheet date. long-term receivables” line of our consolidated |
Inventories | Inventories —We have several the following methods for each type recorded at cost using the the aggregate. permanent adjustments to the LIFO cost current revenues. product to its existing condition development costs. well equipment, are valued using various FIFO method, consistent with industry |
Fair Value Measurements | Fair Value Measurements —Assets and liabilities measured at fair value within the fair value hierarchy observability of the inputs employed in the measurement. markets for identical assets included within Level 1 for the asset or liability, inputs. to observable related market |
Derivative Instruments | Derivative Instruments —Derivative instruments are right of offset exists and certain counterparty are netted derivative assets and derivative Recognition and classification of the gain fair value depends on the purpose for not accounted for as hedges to our derivative instruments. |
Oil and Gas Exploration and Development | Oil and Gas Exploration and Development —Oil and gas exploration and accounted for using the successful Property Acquisition Costs —Oil and gas leasehold acquisition costs the balance sheet caption PP&E. experience and management’s to be classified as proved, the associated Exploratory Costs —Geological and geophysical undeveloped properties are expensed “suspended,” reserves have been found. are expensed as dry holes. gas, the well costs remain capitalized reserves and the economic and operating exploratory discoveries, sheet for several years potential oil and gas field or while we seek government plans or seek environmental permitting. obtained, the projects are moved designated as proved reserves. Management reviews suspended well balances additional appraisal drilling and seismic work, and expenses when it judges the potential field does not warrant Development Costs —Costs incurred to drill and equip development development wells, are capital Depletion and Amortization —Leasehold costs of producing properties production method based on estimated costs is based on the unit-of-production reserves. |
Capitalized Interest | Capitalized Interest —Interest from external construction period of one year or longer. and is amortized over the useful lives of the assets |
Depreciation and Amortization | Depreciation and Amortization —Depreciation and amortization of PP&E properties and SAGD facilities and declining utilization pattern), amortization of all other PP&E are determined by group-straight-line |
Impairment of Properties, Plants and Equipment | Impairment of Properties, Plants and Equipment —Long-lived assets used in operations are assessed impairment whenever changes in facts the future cash flows expected amount of an asset may not be recovered, assumptions for prices, volumes and future flows before income-taxes down to estimated fair value made. identifiable cash flows that are largely on a field-by-field basis for E&P assets. lived assets, the fair value of impaired assets expected future cash flows using principal market participants, or based market transactions of similar assets The expected future cash flows used on estimated future production considering all available evidence at the date proved developed and undeveloped achieve that production. adjusted amount of these reserves may Long-lived assets committed by of amortized cost or fair value, price, if available, or present value |
Maintenace and Repairs | Maintenance and Repairs —Costs of maintenance and repairs, are expensed when incurred. |
Property Dispositions | Property Dispositions —When complete units of depreciable accumulated depreciation are of our consolidated income statement. retired which do not significantly value is charged or credited to |
Asset Retirement Obligations and Environmental Costs | Asset Retirement Obligations —The fair value of legal obligations remove long-lived assets are recorded asset is installed at the production incorporating assumptions about estimated technologies. Environmental expenditures Expenditures relating to an existing economic benefit, are expensed. undiscounted basis (unless acquired through basis) when environmental assessments estimated. when their receipt is probable and estimable. |
Impairment of Investments in Nonconsolidated Entities | Impairment of Investments —Investments in nonconsolidated assessed for impairment whenever changes occurred. value of the investment is written on quoted market prices, if available, discount rates and prices believed market analysis of comparable |
Guarantees | Guarantees —The fair value of a guarantee guarantee is given. the guarantee. the facts and circumstances surrounding indefinite, we reverse the liability or amortize it over an appropriate time. of the guarantee. separate liability if it is reasonably estimable, reverse the fair value liability |
Share-Based Compensation | Share-Based Compensation —We recognize share service period (i.e., the stated period of time required start of the service period and ending when an employee first elected to recognize expense the award was granted |
Income Taxes | Income Taxes —Deferred income taxes temporary differences except for deferred adjustment considered to be permanently joint ventures. Interest related to related to unrecognized |
Taxes Collected from Customers and Remitted to Governmental Authorities | Taxes —Sales and value-added taxes are recorded |
Net Income (Loss) Per Share of Common Stock | Net Income (Loss) Per Share of Common —Basic net income (loss) per share of common stock calculated based upon the daily weighted-average year. calculation includes fully vested stock common stock, along with an adjustment unit awards that are considered includes unvested stock, unexercised stock under the treasury-stock method. loss per share, does not assume conversion Treasury stock both calculations. |
Inventories (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Inventories [Abstract] | |
Schedule of Inventories | Inventories at December 31 were: Millions of Dollars 2021 2020 Crude oil and natural gas $ 647 461 Materials and supplies 561 541 Total $ 1,208 1,002 Inventories valued on $ 395 282 |
Asset Acquisitions and Dispositions (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Business Acquisition [Line Items] | |
Supplemental Pro Forma Financial Information | Millions of Dollars Year Ended December 31, 2021 Pro forma Pro forma As reported Shell Combined Total $ 48,349 3,220 51,569 Income (loss) before income taxes 12,712 1,201 13,913 Net Income (Loss) attributable to 8,079 920 8,999 Earnings per share: Basic net loss $ 6.09 6.78 Diluted net loss 6.07 6.76 Millions of Dollars Year Ended December 31, 2020 Pro forma Pro forma Pro forma As reported Concho Shell Combined Total $ 19,256 3,762 1,685 24,703 Income (loss) before income taxes (3,140) 787 (247) (2,600) Net Income (Loss) attributable to (2,701) 498 (189) (2,392) Earnings per share: Basic net loss $ (2.51) (1.75) Diluted net loss (2.51) (1.75) |
Concho Resources Incorporated [Member] | |
Business Acquisition [Line Items] | |
Total Consideration | Total Consideration 194,243 1,599 Number of shares exchanged 195,842 1.46 285,929 $ 45.9025 $ 13,125 **Based on the ConocoPhillips average stock price on January 15, 2021. |
Net Assets Acquired | Assets Acquired Millions of Dollars Cash and cash equivalents $ 382 Accounts receivable, net 745 Inventories 45 Prepaid expenses and other current 37 Investments and long-term receivables 333 Net properties, plants and equipment 18,923 Other assets 62 Total assets $ 20,527 Liabilities Assumed Accounts payable $ 638 Accrued income and other taxes 56 Employee benefit obligations 4 Other accruals 510 Long-term debt 4,696 Asset retirement obligations 310 Deferred income taxes 1,071 Other liabilities and deferred credits 117 Total liabilities $ 7,402 Net assets acquired $ 13,125 |
Non-Recurring Restructuring and Transition-Related Costs | Millions of Dollars Transaction Restructuring Cost Total Production and operating expenses $ 128 128 Selling, general and administration 135 67 202 Exploration expenses 18 8 26 Taxes 4 2 6 Other expenses - 29 29 $ 157 234 391 |
Shell Permian Assets [Member] | |
Business Acquisition [Line Items] | |
Net Assets Acquired | Assets Acquired Millions of Dollars Accounts receivable, net $ 337 Inventories 20 Net properties, plants and equipment 8,624 Other assets 50 Total assets $ 9,031 Liabilities Assumed Accounts payable $ 211 Accrued income and other taxes 6 Other accruals 20 Asset retirement obligations 86 Other liabilities and deferred credits 36 Total liabilities $ 359 Net assets acquired $ 8,672 |
Investments, Loans and Long-Term Receivables (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Investments, Loans and Long-Term Receivables [Abstract] | |
Components of Investments, Loans and Long-Term Receivables | Components of investments, loans Millions of Dollars 2021 2020 Equity investments $ 6,701 7,596 Loans and advances—related parties - 114 Long-term receivables 98 137 Long-term investments in debt 248 217 Other investments 66 67 $ 7,113 8,131 |
Summarized Financial Information for Equity Method Investments in Affiliated Companies | Summarized 100 percent earnings combined, was as follows: Millions of Dollars 2021 2020 2019 Revenues $ 11,824 7,931 11,310 Income before income taxes 3,946 1,843 3,726 Net income 2,557 1,426 3,085 Summarized 100 percent balance sheet information combined, was as follows: Millions of Dollars 2021 2020 Current assets $ 4,493 2,579 Noncurrent assets 36,602 35,257 Current liabilities 3,498 2,110 Noncurrent liabilities 17,465 18,099 |
Investment in Cenovus Energy (Tables) - Cenovus Energy Inc [Member] |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Schedule Of Available For Sale Securities [Line Items] | |
Schedule of Investment in Common Shares Carried at Fair Value | December 31 2021 2020 Number of shares of CVE common stock (millions) 91 208 Ownership of issued and outstanding common 4.5 % 16.9 Closing price on NYSE on last trading day $ 12.28 6.04 Fair Value (millions $ 1,117 1,256 |
Gains and Losses Recorded in Other Income (Loss) | Millions of Dollars 2021 2020 2019 Total $ 1,040 (855) 649 Less: Net gain (loss) on equity securities sold during 473 Unrealized gain (loss) on equity securities $ 567 (855) 649 |
Suspended Wells and Exploration Expenses (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Suspended Wells and Exploration Expenses [Abstract] | |
Net Changes in Suspended Exploratory Well Costs | The following table reflects the net Millions of Dollars 2021 2020 2019 Beginning balance at January 1 $ 682 1,020 856 Additions pending the determination of proved 10 164 239 Reclassifications to proved - (42) (11) Sales of suspended wells - (313) (54) Charged to dry hole expense (32) (147) (10) Ending balance at December 31 $ 660 682 1,020 * *Includes $ 313 For additional details on suspended wells charged to dry hole expense, see the Exploration Expenses section |
Aging of Suspended Well Cost | The following table provides an aging Millions of Dollars 2021 2020 2019 Exploratory well costs capitalized $ 4 156 206 Exploratory well costs capitalized 656 526 814 Ending balance $ 660 682 1,020 * *Includes $ 313 Number of projects with exploratory greater than one year 22 22 23 |
Aging of Exploratory Well Cost, Capitalized for More than One Year | The following table provides a further than one year since the completion of drilling as of December 31, 2021: Millions of Dollars Suspended Since Total 2018-2020 2015-2017 2004-2014 Willow—Alaska (1) 313 262 51 - Surmont—Canada (1) 121 2 19 100 PL 1009—Norway (1) 43 43 - - PL 891—Norway (1) 34 34 - - Narwhal Trend—Alaska (1) 25 25 - - WL4-00—Malaysia (1) 24 24 - - PL782S—Norway (1) 22 22 - - NC 98—Libya (2) 13 - - 13 Other of $10 million or less each (1)(2) 61 21 11 29 Total $ 656 433 81 142 (1)Additional appraisal wells planned. (2)Appraisal drilling complete; costs being incurred to assess development. |
Impairments (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Impairments [Abstract] | |
Before-tax impairment charges | During 2021, 2020 and 2019, we recognized the following Millions of Dollars 2021 2020 2019 Alaska $ 5 - - Lower 48 (8) 804 402 Canada 6 3 2 Europe, Middle East and North Africa (24) 6 1 Asia Pacific 695 - - $ 674 813 405 |
Asset Retirement Obligations and Accrued Environmental Costs (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Asset Retirement Obligations and Accrued Environmental Costs [Abstract] | |
Asset Retirement Obligations and Accrued Environmental Costs | Asset retirement obligations Millions of Dollars 2021 2020 Asset retirement obligations $ 5,926 5,573 Accrued environmental costs 187 180 Total 6,113 5,753 Asset retirement obligations (359) (323) Long-term asset retirement obligations $ 5,754 5,430 *Classified as a current liability on the balance sheet under “Other accruals.” |
Changes in Asset Retirement Obligation | During 2021 and 2020, our overall ARO changed as Millions of Dollars 2021 2020 Balance at January 1 $ 5,573 6,206 Accretion of discount 238 248 New obligations 555 262 Changes in estimates of existing (113) (307) Spending on existing obligations (164) (116) Property dispositions (108) (771) Foreign currency translation (55) 51 Balance at December 31 $ 5,926 5,573 |
Debt (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Debt [Abstract] | |
Schedule of Debt | Long-term debt at December 31 was: Millions of Dollars 2021 2020 9.125 % Debentures due 2021 $ - 123 2.4 % Notes due 2022 329 329 7.65 % Debentures due 2023 78 78 3.35 % Notes due 2024 426 426 8.2 % Debentures due 2025 134 134 3.35 % Notes due 2025 199 199 6.875 % Debentures due 2026 67 67 4.95 % Notes due 2026 1,250 1,250 7.8 % Debentures due 2027 203 203 3.75 % Notes due 2027 981 - 3.75 % Notes due 2027 19 - 4.3 % Notes due 2028 973 - 4.3 % Notes due 2028 27 - 7.375 % Debentures due 2029 92 92 7 % Debentures due 2029 200 200 6.95 % Notes due 2029 1,549 1,549 8.125 % Notes due 2030 390 390 2.4 % Notes due 2031 489 - 2.4 % Notes due 2031 11 - 7.2 % Notes due 2031 575 575 7.25 % Notes due 2031 500 500 7.4 % Notes due 2031 500 500 5.9 % Notes due 2032 505 505 4.15 % Notes due 2034 246 246 5.95 % Notes due 2036 500 500 5.951 % Notes due 2037 645 645 5.9 % Notes due 2038 600 600 6.5 % Notes due 2039 2,750 2,750 4.3 % Notes due 2044 750 750 5.95 % Notes due 2046 500 500 7.9 % Debentures due 2047 60 60 4.875 % Notes due 2047 800 - 4.85 % Notes due 2048 590 - 4.85 % Notes due 2048 10 - Floating rate notes due 2022 at 1.02 % – 1.12 % during 2021 and 1.12 % – 2.81 % during 2020 500 500 Marine Terminal 0.04 % – 0.15 % during 0.1 % – 7.5 % during 2020 265 265 Industrial Development Bonds due 2035 at 0.04 % – 0.12 % during 2021 and 0.11 % – 7.5 % during 2020 18 18 Commercial Paper at 0.05 % – 0.22 % during 2021 - 300 Other 35 38 Debt at face value 17,766 14,292 Finance leases 1,261 891 Net unamortized premiums, discounts and debt 907 186 Total 19,934 15,369 Short-term debt (1,200) (619) Long-term debt $ 18,734 14,750 |
Derivative and Financial Instruments (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Derivative and Financial Instruments [Abstract] | |
Balance Sheet Location - Fair Value Amounts of Derivatives | The following table presents the gross items where they appear on our consolidated Millions of Dollars 2021 2020 Assets Prepaid expenses and other current $ 1,168 229 Other assets 75 26 Liabilities Other accruals 1,160 202 Other liabilities and deferred credits 63 18 The following table presents the gross collateral, and the line items where Millions of Dollars 2021 2020 Assets Prepaid expenses and other current $ 28 2 Liabilities Other accruals 9 16 |
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance [Text Block] | The gains (losses) from commodity derivatives income statement were: Millions of Dollars 2021 2020 2019 Sales and other operating revenues $ (228) 19 141 Other income (loss) 25 4 4 Purchased commodities 75 11 (118) The (gains) losses from foreign on our consolidated income statement Millions of Dollars 2021 2020 2019 Foreign currency transaction $ (5) (40) 16 |
Net Exposures from Outstanding Derivative Contracts | The table below summarizes our material contracts: Open Position Long/(Short) 2021 2020 Commodity Natural gas and power (billions Fixed price 4 (20) Basis (22) (10) We had the following net notional In Millions Notional Currency 2021 2020 Foreign Currency Exchange Buy British pound, sell euro GBP 155 - Sell British pound, buy euro GBP - 5 Sell Canadian dollar, CAD - 370 Buy Canadian dollar, CAD 77 - Buy Australian dollar, AUD 1,850 - |
Net Carrying Amount of Held to Maturity Investments | The following investments table reflects remaining maturities Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long- Term Receivables 2021 2020 2021 2020 2021 2020 Cash $ 670 597 Demand Deposits 1,554 1,133 Time Deposits 1 to 90 days 2,363 1,225 217 2,859 91 to 180 days 4 448 Within one year 4 13 One year through five years - 1 U.S. Government Obligations 1 to 90 days 431 23 - - $ 5,018 2,978 225 3,320 - 1 |
Debt Securities Carried at Fair Value | The following investments consolidated balance sheet at December 31, 2021 and Millions of Dollars Carrying Amount Cash and Cash Equivalents Short-Term Investments Investments and Long- Term Receivables 2021 2020 2021 2020 2021 2020 Major Security Type Corporate Bonds $ 3 - 128 130 173 143 Commercial Paper 7 13 82 155 U.S. Government Obligations - - - 4 2 13 U.S. Government Agency 2 - 8 17 Foreign Government Obligations 7 - 2 2 Asset-backed Securities 2 - 63 41 $ 10 13 221 289 248 216 Cash and Cash Equivalents and Short-Term Investments and Long-Term eight years. |
Amortized Cost Basis and Fair Value of Investments in Debt Securities Classified as Available for Sale | The following table summarizes the as available for sale at December 31: Millions of Dollars Amortized Cost Basis Fair Value 2021 2020 2021 2020 Major Security Type Corporate Bonds $ 305 271 304 273 Commercial Paper 88 168 89 168 U.S. Government Obligations 2 17 2 17 U.S. Government Agency Obligations 10 17 10 17 Foreign Government Obligations 9 2 9 2 Asset-Backed Securities 65 41 65 41 $ 479 516 479 518 |
Fair Value Measurement (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Fair Value Measurement [Abstract] | |
Fair Value Hierarchy for Gross Financial Assets and Liabilities | The following table summarizes the where the right of setoff exists Millions of Dollars December 31, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Investment in Cenovus Energy $ 1,117 - - 1,117 1,256 - - 1,256 Investments in debt securities 2 477 - 479 17 501 - 518 Commodity derivatives 562 619 62 1,243 142 101 12 255 Total $ 1,681 1,096 62 2,839 1,415 602 12 2,029 Liabilities Commodity derivatives $ 593 543 87 1,223 120 91 9 220 Total $ 593 543 87 1,223 120 91 9 220 |
Commodity Derivative Balances Subject to Right of Setoff | The following table summarizes those presented on our consolidated multiple derivative instruments 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 December 31, 2021 Assets $ 1,243 85 1,158 650 508 - 508 Liabilities 1,223 82 1,141 650 491 36 455 December 31, 2020 Assets $ 255 2 253 157 96 10 86 Liabilities 220 1 219 157 62 4 58 At December 31, 2021 and December 31, 2020, we did not present 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 The following table summarizes the accounted for at fair value Millions of Dollars Fair Value Measurements Fair Value Level 1 Inputs Level 2 Inputs Level 3 Inputs Before-Tax Loss Year ended Net PP&E (held for use) $ 472 - - 472 80 Equity Method Investments 5,574 - 5,574 - 688 Year ended December 31, Net PP&E (held for use) $ 65 - - 65 522 268 - - 268 287 |
Range and Arithmetic Average of Significant Unobservable Inputs | The range and arithmetic average significant assets were as follows: Fair Value (Millions of Dollars) Valuation Technique Unobservable Inputs Range (Arithmetic Average) December 31, 2021 Lower 48 Gulf Coast and Rockies noncore field $ 472 Discounted cash flow Commodity production (MBOED) 0.2 17 5.4 ) Commodity price outlook* ($/BOE) $ 41.45 93.68 64.39 ) Discount rate** 7.3 % 9.7 % ( 8.7 %) *Commodity price outlook based on a combination of external 2.0 % annually after year 2050. **Determined as the weighted average cost Fair Value (Millions of Dollars) Valuation Technique Unobservable Inputs Range (Arithmetic Average) March 31, 2020 Wind River Basin $ 65 Discounted cash flow Natural gas production (MMCFD) 8.4 55.2 22.9 ) Natural gas price outlook* ($/MMBTU) $ 2.67 9.17 5.68 ) Discount rate** 7.9 % - 9.1 % ( 8.3 %) *Henry Hub natural gas price outlook based on a combination 2.2 % annually after year 2034. **Determined as the weighted average cost Fair Value (Millions of Dollars) Valuation Technique Unobservable Inputs Range (Arithmetic Average) December 31, 2020 Central Basin Platform $ 244 Discounted cash flow Commodity production (MBOED) 0.5 12.7 3.4 ) Commodity price outlook* ($/BOE) $ 37.35 115.29 ($ 73.80 ) Discount rate** 6.8 % - 7.7 % ( 7.4 %) *Commodity price outlook based on a combination of external 2.0 % annually after year 2050. **Determined as the weighted average cost |
Net Fair Value of Financial Instruments | The following table summarizes the exists for commodity derivatives): Millions of Dollars Carrying Amount Fair Value 2021 2020 2021 2020 Financial assets Investment in CVE common shares $ 1,117 1,256 1,117 1,256 Commodity derivatives 593 88 593 88 Investments in debt securities 479 518 479 518 Loans and advances—related parties 114 220 114 220 Financial liabilities Total 18,673 14,478 22,451 19,106 Commodity derivatives 537 59 537 59 |
Equity (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Equity [Abstract] | |
Changes in Shares of Common Stock | Common Stock The changes in our shares of common stock, Shares 2021 2020 2019 Issued Beginning of year 1,798,844,267 1,795,652,203 1,791,637,434 Acquisition of Concho 285,928,872 - - Distributed under benefit plans 6,789,608 3,192,064 4,014,769 End of year 2,091,562,747 1,798,844,267 1,795,652,203 Held in Treasury Beginning of year 730,802,089 710,783,814 653,288,213 Repurchase of common stock 58,517,786 20,018,275 57,495,601 End of year 789,319,875 730,802,089 710,783,814 |
Non-Mineral Lease (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Non-Mineral Leases [Abstract] | |
Right-of-Use Assets and Lease Liabilities | Millions of Dollars 2021 2020 Operating Leases Finance Leases Operating Leases Finance Leases Right-of-Use Assets Properties, plants and equipment Gross $ 1,812 1,375 Accumulated DD&A (857) (721) Net PP&E * 955 654 Prepaid expenses and other current $ 16 2 Other assets 649 783 Lease Liabilities Short-term debt ** $ 280 168 Other accruals 188 226 Long-term debt *** 981 723 Other liabilities and deferred credits 479 559 Total $ 667 1,261 785 891 * 208 258 154 97 *** 462 522 2020. |
Lease Cost | The following table summarizes our Millions of Dollars 2021 2020 2019 Lease Cost * Operating lease cost $ 278 321 341 Finance lease cost Amortization of right-of-use assets 148 163 99 Interest on lease liabilities 27 34 37 Short-term lease cost ** 21 42 77 Total *** $ 474 560 554 * coventurers. ** *** Variable lease cost and sublease income are immaterial for the periods presented and therefore are not included in the table above |
Lease Term and Discount Rate | The following table summarizes the 2021 2020 Lease Term Weighted-average Operating leases 5.97 6.11 Finance leases 7.49 7.12 Weighted-average Operating leases 2.66 2.78 Finance leases 3.24 4.27 |
Other Information | The following table summarizes other Millions of Dollars 2021 2020 2019 Other Information * Cash paid for amounts included in the measurement Operating cash flows from operating $ 204 232 203 Operating cash flows from finance 6 11 27 Financing cash flows from finance leases 73 255 81 Right-of-use assets obtained $ 174 250 499 Right-of-use assets obtained 447 426 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. |
Maturity of Lease Liabilities | The following table summarizes future Millions of Dollars Operating Leases Finance Maturity of Lease Liabilities 2022 $ 195 341 2023 143 199 2024 114 166 2025 68 143 2026 50 139 Remaining years 159 462 Total * 729 1,450 Less: portion representing imputed (62) (189) Total $ 667 1,261 *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. 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. |
Employee Benefit Plans (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Employee Benefit Plans [Abstract] | |
Change in Benefit Obligations and Fair Value of Plan Assets | An analysis of the projected benefit obligations our postretirement health and life Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int’l. U.S. Int’l. Change in Benefit Obligation Benefit obligation at January 1 $ 2,548 4,403 2,319 3,880 170 216 Service cost 73 61 85 54 2 2 Interest cost 53 79 66 85 4 6 Plan participant contributions - - - 1 16 18 Plan amendments - - - 2 - (30) Actuarial (gain) loss (117) (176) 319 398 (16) 7 Benefits paid (654) (162) (241) (151) (40) (49) Curtailment 12 - - 2 1 - Recognition of termination benefits 9 - - 3 - - Foreign currency exchange - (81) - 129 - - Benefit obligation at December 31 * $ 1,924 4,124 2,548 4,403 137 170 *Accumulated benefit obligation portion of above at $ 1,793 3,658 2,359 4,095 Change in Fair Value Fair value of plan assets at January $ 1,770 4,793 1,591 4,306 - - Actual return on plan assets 97 147 321 416 - - Company contributions 451 119 99 60 24 31 Plan participant contributions - 1 - 1 16 18 Benefits paid (654) (162) (241) (151) (40) (49) Foreign currency exchange - (86) - 161 - - Fair value of plan assets at December 31 $ 1,664 4,812 1,770 4,793 - - Funded Status $ (260) 688 (778) 390 (137) (170) |
Amounts Recognized in Balance Sheet and Assumptions | Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int’l. U.S. Int’l. Amounts Recognized in the Consolidated Balance Sheet at December 31 Noncurrent assets $ 1 991 - 746 - - Current liabilities (29) (15) (56) (11) (34) (39) Noncurrent liabilities (232) (288) (722) (345) (103) (131) Total $ (260) 688 (778) 390 (137) (170) Weighted-Average Determine Benefit Obligations at December 31 Discount rate 2.80 % 2.15 2.30 1.80 2.65 2.15 Rate of compensation increase 4.00 3.40 4.00 3.10 Interest crediting rate 2.50 2.10 Weighted-Average Determine Net Periodic Benefit Cost Years Ended Discount rate 2.60 % 1.80 3.05 2.35 2.35 3.10 Expected return on plan assets 5.20 2.50 5.80 3.60 Rate of compensation increase 4.00 3.40 4.00 3.35 Interest crediting rate 2.10 4.10 |
Projected and Accumulated Benefit Obligations in Excess of Fair Value | The following tables summarize information accumulated benefit obligations Millions of Dollars Pension Benefits 2021 2020 U.S. Int’l. U.S. Int’l. Pension Plans with Projected Benefit Obligation Excess of Plan Assets Projected benefit obligation $ 261 362 2,548 391 Fair value of plan assets - 58 1,770 35 Pension Plans with Accumulated Benefit Excess of Plan Assets Accumulated benefit obligation $ 234 271 2,359 338 Fair value of plan assets - 9 1,770 35 |
Before-Tax Amounts not Recognized in Net Periodic Benefit Cost | Included in accumulated other comprehensive amounts that had not been recognized Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int’l. U.S. Int’l. Unrecognized net actuarial loss $ 188 86 467 326 (1) 14 Unrecognized prior service cost - 1 - - (145) (182) |
Source of Change in Other Comprehensive Income (Loss) | Millions of Dollars Pension Benefits Other Benefits 2021 2020 2021 2020 U.S. Int’l. U.S. Int’l. Sources of Change in Other Comprehensive Income (Loss) Net gain (loss) arising during the period $ 134 207 (83) (120) 16 (7) Amortization of actuarial loss included in income (loss)* 145 33 95 21 - 1 Net change during the period $ 279 240 12 (99) 16 (6) Prior service credit (cost) arising during the period $ - - - (1) - 30 Amortization of prior service (credit) included in income (loss) - (1) - (1) (37) (31) Net change during the period $ - (1) - (2) (37) (1) *Includes settlement (gains) losses recognized in 2021 and 2020. |
Components of Net Periodic Benefit Cost | The components of net periodic benefit cost of all defined Millions of Dollars Pension Benefits Other Benefits 2021 2020 2019 2021 2020 2019 U.S. Int’l. U.S. Int’l. U.S. Int’l. Components of Net Periodic Benefit Cost Service cost $ 73 61 85 54 79 69 2 2 1 Interest cost 53 79 66 85 79 97 4 6 8 Expected return on plan assets (80) (120) (85) (145) (74) (138) - - - Amortization of prior service credit - (1) - (1) - (2) (37) (31) (33) Recognized net actuarial loss (gain) 43 33 51 22 54 32 - 1 (2) Settlements loss (gain) 102 - 44 (1) 62 - - - - Curtailment loss 12 - - - - - - - - Net periodic benefit cost $ 203 52 161 14 200 58 (31) (22) (26) |
Fair Values of Pension Plan Assets | The fair values of our pension plan assets at Millions of Dollars U.S. International Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 2021 Equity securities U.S. $ 3 - 5 8 - - - - International 42 - - 42 - - - - Mutual funds 17 - - 17 236 403 - 639 Debt securities Corporate - 1 - 1 - - - - Mutual funds - - - - 511 - - 511 Cash and cash equivalents - - - - 68 - - 68 Real estate - - - - - - 157 157 Total in fair $ 62 1 5 68 815 403 157 1,375 Investments measured at net asset value* Equity securities Common/collective trusts $ 394 417 Debt securities Common/collective trusts 1,073 3,015 Cash and cash equivalents 9 - Real estate 36 1 Total** $ 62 1 5 1,580 815 403 157 4,808 **Excludes the participating interest in the insurance annuity contract with a net asset of $ 83 5 The fair values of our pension plan assets at Millions of Dollars U.S. International Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 2020 Equity securities U.S. $ - 3 5 8 - - - - International 99 - - 99 - - - - Mutual funds 72 - - 72 235 384 - 619 Debt securities Corporate - 1 - 1 - - - - Mutual funds - - - - 455 - - 455 Cash and cash equivalents - - - - 74 - - 74 Derivatives - - - - 6 - - 6 Real estate - - - - - - 142 142 Total in fair $ 171 4 5 180 770 384 142 1,296 Investments measured at net asset value* Equity securities Common/collective trusts $ 678 372 Debt securities Common/collective trusts 730 3,007 Cash and cash equivalents 8 - Real estate 79 112 Total** $ 171 4 5 1,675 770 384 142 4,787 **Excludes the participating interest in the insurance annuity contract with a net asset of $ 94 7 |
Benefit Payments | The following benefit payments, and which reflect expected future Millions of Dollars Pension Other Benefits Benefits U.S. Int’l. 2022 $ 369 152 21 2023 185 152 18 2024 176 158 15 2025 154 162 14 2026 144 164 12 2027–2031 557 893 44 |
Severance Accrual | The following table summarizes our Millions of Dollars 2021 2020 2019 Balance at January 1 $ 24 23 48 Accruals 170 14 (1) Benefit payments (116) (13) (24) Balance at December 31 $ 78 24 23 |
Compensation Expense | Compensation Expense —Total associated tax benefit were: Millions of Dollars 2021 2020 2019 Compensation cost $ 304 159 274 Tax benefit 76 40 71 |
Stock Option Activity | The following summarizes our stock Millions of Dollars Weighted-Average Aggregate Options Exercise Price Intrinsic Value Outstanding at December 31, 2020 16,922,525 $ 55.12 $ 22 Exercised (3,846,361) 51.40 68 Expired or cancelled (1,102,381) 53.47 Outstanding at December 31, 2021 11,973,783 $ 56.46 $ 188 Vested at December 11,973,783 $ 56.46 $ 188 Exercisable at December 31, 2021 11,973,783 $ 56.46 $ 188 |
Restricted Stock Unit Activity | The following summarizes our stock Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 6,431,985 $ 58.94 Granted 4,590,103 46.56 Forfeited (566,047) 48.59 Issued (2,810,730) 54.74 $ 144 Outstanding at December 31, 2021 7,645,311 $ 53.81 Not Vested at 5,509,133 53.81 The following summarizes our cash Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 614,615 $ 39.95 Granted 11,186 57.19 Forfeited (2,927) 51.43 Issued (396,398) 50.75 $ 20 Outstanding at December 31, 2021 226,476 $ 72.18 Not Vested at 59,443 72.18 |
Performance Share Program Activity | The following summarizes our stock December 31, 2021: Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 1,736,728 $ 50.56 Issued (287,881) 49.91 $ 18 Outstanding at December 31, 2021 1,448,847 $ 50.69 Not Vested at 3,191 $ 48.61 The following summarizes our cash December 31, 2021: Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 124,529 $ 39.95 Granted 1,073,228 46.65 Settled (1,080,078) 48.13 $ 52 Outstanding at December 31, 2021 117,679 $ 72.18 |
Restricted Shares and Units Aggregate Activity | The following summarizes the aggregate December 31, 2021: Weighted-Average Millions of Dollars Stock Units Grant Date Fair Value Total Outstanding at December 31, 2020 970,099 $ 47.78 Granted 797,704 46.43 Cancelled (1,948) 27.80 Issued (149,488) 46.80 $ 8 Outstanding at December 31, 2021 1,616,367 $ 47.24 Not Vested at 695,958 $ 45.87 |
Income Taxes (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Income Taxes [Abstract] | |
Income taxes charged to income (loss) | Components of income tax provision Millions of Dollars 2021 2020 2019 Income Taxes Federal Current $ 32 3 18 Deferred 1,161 (625) (113) Foreign Current 3,128 350 2,545 Deferred 66 (70) (323) State and local Current 127 (4) 148 Deferred 119 (139) (8) Total $ 4,633 (485) 2,267 |
Components of deferred tax liabilities and assets | Deferred income taxes assets and liabilities for financial reporting purposes of deferred tax liabilities and Millions of Dollars 2021 2020 Deferred Tax PP&E and intangibles $ 10,170 7,744 Inventory 44 64 Other 213 242 Total 10,427 8,050 Deferred Tax Benefit plan accruals 321 540 Asset retirement obligations 2,297 2,262 Investments in joint ventures 1,684 1,653 Other financial accruals and deferrals 827 907 Loss and credit carryforwards 7,402 8,904 Other 399 365 Total 12,930 14,631 Less: valuation allowance (8,342) (9,965) Total 4,588 4,666 Net deferred tax liabilities $ 5,839 3,384 |
Reconciliation of deferred tax asset valuation allowance | The following table shows a reconciliation for 2021, 2020 and 2019: Millions of Dollars 2021 2020 2019 Balance at January 1 $ 9,965 10,214 3,040 Charged to expense (benefit) (45) 460 (225) Other* (1,578) (709) 7,399 Balance at December 31 $ 8,342 9,965 10,214 *Represents changes due to originating deferred tax asset that have no impact to our effective tax rate, acquisitions/dispositions/revisions and the effect of translating foreign financial statements. |
Reconciliation of the beginning and ending unrecognized tax benefits | The following table shows a reconciliation 2020 and 2019: Millions of Dollars 2021 2020 2019 Balance at January 1 $ 1,206 1,177 1,081 Additions based on tax positions related 15 6 9 Additions for tax positions of prior years 177 67 120 Reductions for tax positions (5) (34) (22) Settlements - (9) (9) Lapse of statute (48) (1) (2) Balance at December 31 $ 1,345 1,206 1,177 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The amounts of U.S. and foreign income statutory rate Millions of Dollars Percent of Pre-Tax 2021 2020 2019 2021 2020 2019 Income (loss) before income taxes United States $ 8,024 (3,587) 4,704 63.1 % 114.2 49.4 Foreign 4,688 447 4,820 36.9 (14.2) 50.6 $ 12,712 (3,140) 9,524 100.0 % 100.0 100.0 Federal statutory $ 2,670 (659) 2,000 21.0 % 21.0 21.0 Non-U.S. effective tax 1,915 194 1,399 15.1 (6.2) 14.7 Tax impact of debt 75 - - 0.6 - - Australia disposition - (349) - - 11.1 - U.K. disposition - - (732) - - (7.7) Recovery of outside basis (55) (22) (77) (0.4) 0.7 (0.8) Adjustment to tax reserves (11) 18 9 (0.1) (0.6) 0.1 Adjustment to valuation allowance (45) 460 (225) (0.4) (14.6) (2.4) State income tax 194 (112) 123 1.5 3.6 1.3 Malaysia Deepwater Incentive - - (164) - - (1.7) Enhanced oil recovery credit (99) (6) (27) (0.8) 0.2 (0.3) Other (11) (9) (39) (0.1) 0.3 (0.4) Tota $ 4,633 (485) 2,267 36.4 % 15.5 23.8 |
Accumulated Other Comprehensive Loss (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Components of Accumulated Other Comprehensive Loss in the Equity Section of the Balance Sheet | Accumulated other comprehensive Millions of Dollars Defined Benefit Plans Net Unrealized Gain/(Loss) on Securities Foreign Currency Translation Accumulated Other Comprehensive Loss December 31, 2018 $ (361) - (5,702) (6,063) Other comprehensive income (loss) 51 - 695 746 Cumulative effect of adopting (40) - - (40) December 31, 2019 (350) - (5,007) (5,357) Other comprehensive income (75) 2 212 139 December 31, 2020 (425) 2 (4,795) (5,218) Other comprehensive income (loss) 394 (2) (124) 268 December 31, 2021 $ (31) - (4,919) (4,950) 2019. |
Items Reclassified out of Accumulated Other Comprehensive Income (Loss) | The following table summarizes reclassifications ended December 31: Millions of Dollars 2021 2020 Defined Benefit Plans $ 109 72 Above amounts are included in the computation of net periodic benefit cost and are presented net of tax expense of: $ 31 13 See Note 16. |
Cash Flow Information (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Cash Flow Information [Abstract] | |
Cash Flow Information | Millions of Dollars 2021 2020 2019 Noncash Investing Activities Increase (decrease) in PP&E related to retirement obligations $ 442 (116) 205 Cash Payments Interest $ 924 785 810 Income taxes 856 905 2,905 Net Sales (Purchases) of Investments Short-term investments $ (5,554) (12,435) (4,902) Short-term investments 8,810 12,015 2,138 Investments and long-term receivables (279) (325) (146) Investments and long-term receivables 114 87 - $ 3,091 (658) (2,910) |
Other Financial Information (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Other Financial Information [Abstract] | |
Other Financial Information | Millions of Dollars 2021 2020 2019 Interest and Debt Expense Incurred Debt $ 887 788 799 Other 59 73 36 946 861 835 Capitalized (62) (55) (57) Expensed $ 884 806 778 Other Income (Loss) Interest income $ 33 100 166 Gain (loss) on investment in Cenovus 1,040 (855) 649 Other, net 130 246 543 $ 1,203 (509) 1,358 *See Note 5. Research and Development Expenditures —expensed $ 62 75 82 Shipping and Handling Costs $ 1,047 857 1,008 Foreign Currency Transaction —after-tax Alaska $ - - - Lower 48 - - - Canada (1) (7) 5 Europe, Middle East and North Africa (11) (15) - Asia Pacific 2 (11) 31 Other International 1 2 1 Corporate and Other (7) (31) 21 $ (16) (62) 58 |
Property Plant And Equipment | Millions of Dollars 2021 2020 Properties, Plants and Equipment Proved properties* $ 114,274 ** 94,312 Unproved properties* 10,993 4,141 Other 4,379 3,653 Gross properties, plants and equipment 129,646 102,106 Less: Accumulated depreciation, (64,735) ** (62,213) Net properties, plants and equipment $ 64,911 39,893 *Proved and Unproved properties increased by $ 20.0 6.9 **Excludes assets classified as held for sale at December 31, 2021. |
Related Party Transactions (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Significant Transactions with Related Parties | Significant transactions with our equity Millions of Dollars 2021 2020 2019 Operating revenues and other income $ 88 79 89 Purchases 5 - 38 Operating expenses and selling, general 196 63 65 Net interest income* (2) (5) (13) *We paid interest to, or received interest from, various affiliates. |
Sales and Other Operating Revenues (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Sales and Other Operating Revenues [Abstract] | |
Disaggregation of Revenue | Millions of Dollars 2021 2020 2019 Revenue from contracts $ 34,590 13,662 26,106 Revenue from contracts Physical contracts 11,500 5,177 6,558 Financial derivative contracts (262) (55) (97) Consolidated sales and other operating $ 45,828 18,784 32,567 Millions of Dollars 2021 2020 2019 Revenue from Outside the Scope of ASC Topic by Segment Lower 48 $ 9,050 3,966 4,989 Canada 1,457 727 691 Europe, Middle East and North Africa 993 484 878 Physical contracts $ 11,500 5,177 6,558 Millions of Dollars 2021 2020 2019 Revenue from Outside the Scope of ASC Topic by Product Crude oil $ 757 395 804 Natural gas 10,034 4,339 5,313 Other 709 443 441 Physical contracts $ 11,500 5,177 6,558 |
Contract with Customer, Asset and Liability | Millions of Dollars Contract Liabilities At December 31, 2020 $ 97 Contractual payments received 15 Revenue recognized (62) At December 31, 2021 $ 50 Amounts Recognized in the Consolidated Current liabilities $ 50 |
Segment Disclosures and Related Information (Tables) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Segment Disclosures and Related Information [Abstract] | |
Sales and Other Operating Revenues | Analysis of Results by Operating Segment Millions of Dollars 2021 2020 2019 Sales and Other Operating Revenues Alaska $ 5,480 3,408 5,483 Intersegment eliminations - (11) - Alaska 5,480 3,397 5,483 Lower 48 29,306 9,872 15,514 Intersegment eliminations (12) (51) (46) Lower 48 29,294 9,821 15,468 Canada 4,077 1,666 2,910 Intersegment eliminations (1,583) (405) (1,141) Canada 2,494 1,261 1,769 Europe, Middle East and North Africa 5,902 1,919 5,101 Intersegment eliminations - (2) - Europe, Middle East and North Africa 5,902 1,917 5,101 Asia Pacific 2,579 2,363 4,525 Other International 4 7 - Corporate and Other 75 18 221 Consolidated sales and other operating $ 45,828 18,784 32,567 The market for our products dependent upon any single customer. |
Depreciation, Depletion, Amortization and Impairments | Millions of Dollars 2021 2020 2019 Depreciation, Depletion, Amortization Alaska $ 1,002 996 805 Lower 48 4,067 3,358 3,224 Canada 392 342 232 Europe, Middle East and North Africa 862 775 887 Asia Pacific 1,483 809 1,285 Other International - - - Corporate and Other 76 54 62 Consolidated depreciation, depletion, $ 7,882 6,334 6,495 |
Equity in Earnings of Affiliates | Equity in Earnings of Affiliates Alaska $ 5 (7) 7 Lower 48 (18) (11) (159) Canada - - - Europe, Middle East and North Africa 502 311 470 Asia Pacific 343 137 461 Other International - 2 - Corporate and Other - - - Consolidated equity in earnings of affiliates $ 832 432 779 |
Income Tax Provision (Benefit) | Income Tax Alaska $ 402 (256) 472 Lower 48 1,390 (378) 137 Canada 150 (185) (43) Europe, Middle East and North Africa 2,543 136 1,425 Asia Pacific 483 294 501 Other International (53) (20) 8 Corporate and Other (282) (76) (233) Consolidated income tax provision $ 4,633 (485) 2,267 |
Net Income (Loss) Attributable to ConocoPhillips | Net Income (Loss) Attributable Alaska $ 1,386 (719) 1,520 Lower 48 4,932 (1,122) 436 Canada 458 (326) 279 Europe, Middle East and North Africa 1,167 448 3,170 Asia Pacific 453 962 1,483 Other International (107) (64) 263 Corporate and Other (210) (1,880) 38 Consolidated net income (loss) attributable $ 8,079 (2,701) 7,189 |
Investments In and Advances To Affiliates | Millions of Dollars 2021 2020 2019 Investments in and Advances to Alaska $ 58 62 83 Lower 48 242 25 35 Canada - - - Europe, Middle East and North Africa 797 918 1,070 Asia Pacific 5,603 6,705 7,265 Other International 1 - - Corporate and Other - - - Consolidated investments $ 6,701 7,710 8,453 |
Total Assets | Total Assets Alaska $ 14,812 14,623 15,453 Lower 48 41,699 11,932 14,425 Canada 7,439 6,863 6,350 Europe, Middle East and North Africa 9,125 8,756 9,269 Asia Pacific 9,840 11,231 13,568 Other International 1 226 285 Corporate and Other 7,745 8,987 11,164 Consolidated total assets $ 90,661 62,618 70,514 |
Capital Expenditures and Investments | Capital Expenditures and Investments Alaska $ 982 1,038 1,513 Lower 48 3,129 1,881 3,394 Canada 203 651 368 Europe, Middle East and North Africa 534 600 708 Asia Pacific 390 384 584 Other International 33 121 8 Corporate and Other 53 40 61 Consolidated capital expenditures $ 5,324 4,715 6,636 |
Interest Income and Expense | Interest Income and Expense Interest income Alaska $ - - - Lower 48 - - - Canada - - - Europe, Middle East and North Africa 2 5 11 Asia Pacific 9 7 6 Other International - - - Corporate and Other 22 88 149 Interest and debt expense Corporate and Other $ 884 806 778 |
Sales and Other Operating Revenues by Product | Sales and Other Operating Revenues Crude oil $ 23,648 9,736 18,482 Natural gas 16,904 6,427 8,715 Natural gas liquids 1,668 528 814 Other* 3,608 2,093 4,556 Consolidated sales and other operating $ 45,828 18,784 32,567 *Includes LNG and bitumen. |
Geographic Information | Geographic Information Millions of Dollars Sales and Other Operating Revenues (1) Long-Lived Assets (2) 2021 2020 2019 2021 2020 2019 United States $ 34,847 13,230 21,159 50,580 24,034 26,566 Australia and Timor-Leste 605 1,647 5,579 6,676 7,228 Canada 2,494 1,261 1,769 6,608 6,385 5,769 China 724 460 772 1,476 1,491 1,447 Indonesia (3) 879 689 875 28 464 605 Libya 1,102 155 1,103 659 670 668 Malaysia 975 610 1,230 1,252 1,501 1,871 Norway 2,563 1,426 2,349 4,681 5,294 5,258 United Kingdom 2,236 336 1,649 1 1 2 Other foreign countries 8 12 14 748 1,087 1,308 Worldwide consolidated $ 45,828 18,784 32,567 71,612 47,603 50,722 (1) Sales and other operating revenues are attributable to countries based on the location of the selling operation. (2) Defined as net PP&E plus equity investments and advances to affiliated companies. (3) Met held for sale criteria in 2021 in conjunction with our agreement to sell our subsidiary holding |
Accounting Policies (Narrative) (Details) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Number of operating segments | 6 |
Revenue, Performance Obligation, Description of Payment Terms | Payment is typically due within 30 days or less. |
Inventories (Schedule of Inventories) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Inventories [Abstract] | ||
Crude oil and natural gas | $ 647 | $ 461 |
Materials and supplies | 561 | 541 |
Total Inventories | 1,208 | 1,002 |
Inventories valued on the LIFO basis | 395 | 282 |
Excess Of Replacement Or Current Costs Over Stated L I F O Value | $ 251 | $ 87 |
Asset Acquisitions and Dispositions (Narrative - Acquisition of Concho Resources Inc.) (Details) $ in Millions |
3 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|
Feb. 08, 2021
USD ($)
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Jan. 15, 2021
USD ($)
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Mar. 31, 2021
USD ($)
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
|
Business Acquisition [Line Items] | |||||||
Capitalized costs, proved properties | $ 114,274 | $ 114,274 | $ 94,312 | ||||
Capitalized costs, unproved properties | 10,993 | 10,993 | 4,141 | ||||
Income tax provision | 4,633 | (485) | $ 2,267 | ||||
Total Revenues and Other Income | 48,349 | 19,256 | 36,670 | ||||
Net Income (Loss) Attributable to ConocoPhillips | 8,079 | (2,701) | $ 7,189 | ||||
Concho Resources Incorporated [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Exchange ratio | 1.46 | ||||||
Total Consideration | $ 13,125 | ||||||
Capitalized costs, proved properties | 11,800 | 20,000 | 20,000 | ||||
Capitalized costs, unproved properties | $ 6,900 | 6,900 | $ 6,900 | ||||
Transaction Cost | $ 157 | 157 | |||||
Total Revenues and Other Income | 6,571 | ||||||
Net Income (Loss) Attributable to ConocoPhillips | 2,330 | ||||||
Concho Resources Incorporated [Member] | Concho Resources Inc. [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Income tax provision | $ 75 | ||||||
Impairment of Oil and Gas Properties | 10,500 | ||||||
Goodwill, impairment loss | $ 1,900 | ||||||
Concho Resources Incorporated [Member] | Commodity Contract [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Loss from commodity derivatives, before tax | 305 | ||||||
Loss from commodity derivatives, after tax | $ 233 |
Asset Acquisitions and Dispositions (Narrative - Acquisition of Shell Permian Assets) (Details) $ in Millions |
1 Months Ended | |
---|---|---|
Dec. 31, 2021
USD ($)
a
|
Dec. 31, 2020
USD ($)
|
|
Asset Acquisition [Line Items] | ||
Capitalized costs, proved properties | $ 114,274 | $ 94,312 |
Capitalized costs, unproved properties | 10,993 | $ 4,141 |
Shell Permian Assets [Member] | ||
Asset Acquisition [Line Items] | ||
Total Consideration | $ 8,700 | |
Area of land | a | 225,000 | |
Capitalized costs, proved properties | $ 4,200 | |
Capitalized costs, unproved properties | 4,400 | |
Transaction Cost | $ 44 |
Asset Acquisitions and Dispositions (Narrative - Announced Acquisitions) (Details) - Scenario Plan [Member] - Australia Pacific APLNG [Member] $ in Millions |
1 Months Ended |
---|---|
Dec. 31, 2021
USD ($)
| |
Subsequent Event [Line Items] | |
Payments to acquire equity method investments | $ 1,645 |
Additional ownership percentage in equity investment acquired | 10.00% |
Asset Acquisitions and Dispositions (Narrative - Asset Acquisition) (Details) $ in Millions |
1 Months Ended | ||
---|---|---|---|
Aug. 31, 2020
USD ($)
a
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
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Assets Acquisitions and Dispositions [Abstract] | |||
Asset retirement obligations and accrued environmental costs | $ 5,754 | $ 5,430 | |
Canada Segment [Member] | Operating Segments [Member] | Montney [Member] | |||
Assets Acquisitions and Dispositions [Abstract] | |||
Oil and Gas, Undeveloped Acreage, Net | a | 295,000 | ||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | ||
Additional Montney acreage [Member] | Canada Segment [Member] | Operating Segments [Member] | |||
Assets Acquisitions and Dispositions [Abstract] | |||
Payments to acquire business | $ 382 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | $ 31 | ||
Oil and Gas, Undeveloped Acreage, Net | a | 140,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ 490 | ||
Asset retirement obligations and accrued environmental costs | 77 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | $ 31 |
Asset Acquisitions and Dispositions (Narrative - Assets Sold) (Details) |
1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
May 27, 2020
USD ($)
MBoe / D
|
Jan. 31, 2022
USD ($)
|
May 31, 2020
USD ($)
|
Mar. 31, 2020
USD ($)
|
Feb. 29, 2020
USD ($)
|
Sep. 30, 2019
USD ($)
|
Apr. 30, 2019
USD ($)
|
Jan. 31, 2019
USD ($)
|
Mar. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
Jun. 30, 2019
USD ($)
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
May 10, 2021
USD ($)
|
|
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Equity in earnings of affiliates | $ 832,000,000 | $ 432,000,000 | $ 779,000,000 | ||||||||||||||
Gain on dispositions | 486,000,000 | 549,000,000 | 1,966,000,000 | ||||||||||||||
Asia Pacific [Member] | Operating Segments [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Equity in earnings of affiliates | $ 343,000,000 | 137,000,000 | 461,000,000 | ||||||||||||||
Lower 48 Segment | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Proceeds from asset dispositions | $ 250,000,000 | ||||||||||||||||
Before-tax gain (loss) on disposition | 58,000,000 | ||||||||||||||||
Basis for Amount | contingent payment, paid on an annual basis, is calculated monthly at $7 million per month in which the U.S. Henry Hub price is at or above $3.20 per MMBTU | ||||||||||||||||
Canada Segment [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Basis for Amount | contingent payment, calculated and paid 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 | ||||||||||||||||
Australia West Assets [Member] | Asia Pacific [Member] | Operating Segments [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Proceeds from asset dispositions | $ 765,000,000 | ||||||||||||||||
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | $ 1,300,000,000 | ||||||||||||||||
Asset Retirement Obligations Noncurrent | 700,000,000 | ||||||||||||||||
Total assets of discontinued operations | 200,000,000 | ||||||||||||||||
Disposition, Other current assets | 100,000,000 | ||||||||||||||||
Disposition, deferred tax liabilities | 300,000,000 | ||||||||||||||||
Disposition, Before-tax earnings | 851,000,000 | 372,000,000 | |||||||||||||||
Gain (Loss) on Sale of Oil and Gas Property | 587,000,000 | ||||||||||||||||
Disposition, Cash | 500,000,000 | ||||||||||||||||
Disposition, other liabilities | $ 200,000,000 | ||||||||||||||||
Barossa Project [Member] | Asia Pacific [Member] | Operating Segments [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Before-tax gain (loss) on disposition | $ 200,000,000 | ||||||||||||||||
Production | MBoe / D | 43 | ||||||||||||||||
Receivable in dispute | $ 200,000,000 | 200,000,000 | $ 200,000,000 | ||||||||||||||
Barossa Project [Member] | Asia Pacific [Member] | Operating Segments [Member] | Scenario Plan [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Proceeds from asset dispositions | $ 200,000,000 | ||||||||||||||||
Waddell Ranch [Member] | Lower 48 Segment | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Proceeds from asset dispositions | $ 184,000,000 | ||||||||||||||||
Gain on dispositions | $ 0 | ||||||||||||||||
Niobrara [Member] | Lower 48 Segment | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Proceeds from asset dispositions | $ 359,000,000 | ||||||||||||||||
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | 433,000,000 | ||||||||||||||||
Asset Retirement Obligations Noncurrent | 34,000,000 | ||||||||||||||||
Impairment Of Long Lived Assets To Be Disposed Of | $ 386,000,000 | ||||||||||||||||
Total assets of discontinued operations | 397,000,000 | ||||||||||||||||
Gain (Loss) on Sale of Oil and Gas Property | $ 38,000,000 | ||||||||||||||||
Niobrara [Member] | Lower 48 Segment | Operating Segments [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Results Of Operations Income Before Income Taxes | $ 372,000,000 | 25,000,000 | |||||||||||||||
Noncore Exploration Interests [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Before-tax gain (loss) on disposition | $ (179,000,000) | ||||||||||||||||
Noncore Exploration Interests [Member] | Lower 48 Segment | Subsequent Event [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Proceeds from asset dispositions | $ 440,000,000 | ||||||||||||||||
Noncore Exploration Interests [Member] | Canada and Lower 48 [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Gain on dispositions | $ 369,000,000 | $ 0 | |||||||||||||||
Golden Pass LNG Terminal and Golden Pass Pipeline [Member] | Lower 48 Segment | Operating Segments [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Equity interest of ConocoPhillips | 12.40% | ||||||||||||||||
Equity in earnings of affiliates | $ (60,000,000) | ||||||||||||||||
UK Subsidiaries [Member] | Operating Segments [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
After-tax gain (loss) on disposition | 2,100,000,000 | 2,100,000,000 | |||||||||||||||
UK Subsidiaries [Member] | Europe And North Africa Segment [Member] | Operating Segments [Member] | Scenario Plan [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Proceeds from asset dispositions | $ 2,200,000,000 | $ 2,675,000,000 | |||||||||||||||
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | 1,600,000,000 | ||||||||||||||||
Asset Retirement Obligations Noncurrent | 1,800,000,000 | ||||||||||||||||
Total assets of discontinued operations | 500,000,000 | ||||||||||||||||
After-tax gain (loss) on disposition | 2,100,000,000 | ||||||||||||||||
Disposal Group, Including Discontinued Operation, Deferred Tax Assets | 300,000,000 | ||||||||||||||||
Working Capital and cash in net carrying value | 100,000,000 | ||||||||||||||||
Disposal Group Including Discontinued Operation Foreign Currency Translation Adjustment | 500,000,000 | ||||||||||||||||
Gain (Loss) on Sale of Oil and Gas Property | $ 1,700,000,000 | ||||||||||||||||
Greater Sunrise Fields [Member] | Asia Pacific [Member] | Operating Segments [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Proceeds from asset dispositions | $ 350,000,000 | ||||||||||||||||
After-tax gain (loss) on disposition | $ 52,000,000 | ||||||||||||||||
Percent Sold | 30.00% | ||||||||||||||||
Magnolia field and platform [Member] | Lower 48 Segment | Operating Segments [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Proceeds from asset dispositions | 16,000,000 | ||||||||||||||||
Disposal Group, Including Discontinued Operation, Property, Plant, and Equipment, Net | 4,000,000 | 4,000,000 | |||||||||||||||
Gain (Loss) on Sale of Oil and Gas Property | 82,000,000 | ||||||||||||||||
Magnolia field and platform [Member] | Lower 48 Segment | Operating Segments [Member] | Asset Retirement Obligation Costs [Member] | |||||||||||||||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |||||||||||||||||
Liabilities of Disposal Group, Including Discontinued Operation, Noncurrent | $ 70,000,000 | $ 70,000,000 |
Asset Acquisitions and Dispositions (Narrative - Planned Disposition) (Details) - USD ($) $ in Millions |
1 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||||
Net properties, plants and equipment | $ 64,911 | $ 64,911 | $ 39,893 | |
Income (Loss) before income taxes | $ 12,712 | (3,140) | $ 9,524 | |
Planned Dispositions [Member] | Indonesia Subsidiaries [Member] | Disposal Group Held For Sale Or Disposed Of By Sale Not Discontinued Operations [Member] | ||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||||
Proceeds from asset dispositions | $ 1,355 | |||
Percentage interest in Indonesia Corridor Block Production Sharing Contract | 54.00% | 54.00% | ||
Net properties, plants and equipment | $ 400 | $ 400 | ||
Income (Loss) before income taxes | 604 | $ 394 | $ 512 | |
Planned Dispositions [Member] | Indonesia Subsidiaries [Member] | Disposal Group Held For Sale Or Disposed Of By Sale Not Discontinued Operations [Member] | Prepaid Expenses and Other Current Assets [Member] | ||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||||
Net properties, plants and equipment | 300 | 300 | ||
Planned Dispositions [Member] | Indonesia Subsidiaries [Member] | Disposal Group Held For Sale Or Disposed Of By Sale Not Discontinued Operations [Member] | Other Accruals [Member] | ||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||||
Noncurrent asset retirement obligation | $ 100 | $ 100 | ||
Planned Dispositions [Member] | Indonesia Subsidiaries [Member] | Disposal Group Held For Sale Or Disposed Of By Sale Not Discontinued Operations [Member] | Transasia Pipeline Company [Member] | ||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||||
Ownership percentage in equity investment | 35.00% | 35.00% |
Asset Acquisitions and Dispositions (Total Consideration) (Details) $ / shares in Units, $ in Millions |
Jan. 15, 2021
USD ($)
$ / shares
shares
|
Dec. 31, 2021
shares
|
Dec. 31, 2020
shares
|
---|---|---|---|
Total Consideration | |||
Number of shares of common stock issued | 2,091,562,747 | 1,798,844,267 | |
Number of shares of stock awards outstanding | 11,973,783 | 16,922,525 | |
Concho Resources Incorporated [Member] | |||
Total Consideration | |||
Exchange ratio | 1.46 | ||
Total Consideration | $ | $ 13,125 | ||
Concho Resources Incorporated [Member] | Common Stock [Member] | |||
Total Consideration | |||
Additional shares of ConocoPhillips common stock issued as consideration | 285,929,000 | ||
Concho Resources Incorporated [Member] | Arithmetic Average [Member] | |||
Total Consideration | |||
Average price per share of ConocoPhillips common stock | $ / shares | $ 45.9025 | ||
Concho Resources Incorporated [Member] | Concho Resources Inc. [Member] | |||
Total Consideration | |||
Number of shares of common stock issued | 194,243,000 | ||
Number of shares of common stock outstanding | 194,243,000 | ||
Number of shares of stock awards outstanding | 1,599,000 | ||
Number of shares exchanged | 195,842,000 |
Asset Acquisitions and Dispositions (Net Assets Acquired) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Jan. 15, 2021 |
Dec. 31, 2020 |
---|---|---|---|
Assets Acquired | |||
Investments and long-term receivables | $ 7,113 | $ 8,017 | |
Concho Resources Incorporated [Member] | |||
Assets Acquired | |||
Cash and cash equivalents | $ 382 | ||
Accounts receivable, net | 745 | ||
Inventories | 45 | ||
Prepaid expenses and other current assets | 37 | ||
Investments and long-term receivables | 333 | ||
Net properties, plants and equipment | 18,923 | ||
Other assets | 62 | ||
Total assets acquired | 20,527 | ||
Liabilities Assumed | |||
Accounts Payable | 638 | ||
Accrued income and other taxes | 56 | ||
Employee benefit obligations | 4 | ||
Other accruals | 510 | ||
Long-term debt | 4,696 | ||
Asset retirement obligations and accrued environmental costs | 310 | ||
Deferred income taxes | 1,071 | ||
Other liabilities and deferred credits | 117 | ||
Total Liabilities assumed | 7,402 | ||
Net assets acquired | $ 13,125 | ||
Shell Permian Assets [Member] | |||
Assets Acquired | |||
Cash and cash equivalents | 337 | ||
Accounts receivable, net | 20 | ||
Net properties, plants and equipment | 8,624 | ||
Other assets | 50 | ||
Total assets acquired | 9,031 | ||
Liabilities Assumed | |||
Accounts Payable | 211 | ||
Accrued income and other taxes | 6 | ||
Other accruals | 20 | ||
Asset retirement obligations and accrued environmental costs | 86 | ||
Other liabilities and deferred credits | 36 | ||
Total Liabilities assumed | 359 | ||
Net assets acquired | $ 8,672 |
Asset Acquisitions and Dispositions (Non-Recurring Restructuring and Transition-Related Costs) (Details) - Concho Resources Incorporated [Member] - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended |
---|---|---|
Mar. 31, 2021 |
Dec. 31, 2021 |
|
Business Acquisition [Line Items] | ||
Transaction Cost | $ 157 | $ 157 |
Restructuring Cost | 234 | |
Total Cost | 391 | |
Production and operating expenses [Member] | ||
Business Acquisition [Line Items] | ||
Restructuring Cost | 128 | |
Total Cost | 128 | |
Selling, general and administrative expenses [Member] | ||
Business Acquisition [Line Items] | ||
Transaction Cost | 135 | |
Restructuring Cost | 67 | |
Total Cost | 202 | |
Exploration expenses [Member] | ||
Business Acquisition [Line Items] | ||
Transaction Cost | 18 | |
Restructuring Cost | 8 | |
Total Cost | 26 | |
Taxes other than income taxes [Member] | ||
Business Acquisition [Line Items] | ||
Transaction Cost | 4 | |
Restructuring Cost | 2 | |
Total Cost | 6 | |
Other expenses [Member] | ||
Business Acquisition [Line Items] | ||
Transaction Cost | 0 | |
Restructuring Cost | 29 | |
Total Cost | $ 29 |
Asset Acquisitions and Dispositions (Supplemental Pro Forma Financial Information) (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Business Acquisition [Line Items] | ||||
Total Revenues and Other Income | $ 48,349 | $ 19,256 | $ 36,670 | |
Income (Loss) before income taxes | 12,712 | (3,140) | 9,524 | |
Net Income (Loss) Attributable to ConocoPhillips | $ 8,079 | $ (2,701) | $ 7,189 | |
Basic net loss | $ 6.09 | $ (2.51) | $ 6.43 | |
Diluted net loss | $ 6.07 | $ (2.51) | $ 6.40 | |
Concho Resources Incorporated [Member] | ||||
Business Acquisition [Line Items] | ||||
Total Revenues and Other Income | $ 6,571 | |||
Net Income (Loss) Attributable to ConocoPhillips | $ 2,330 | |||
Proforma - Total revenues and other income | $ 3,762 | |||
Proforma - Income (Loss) before income taxes | 787 | |||
Proforma - Net loss attributable to ConocoPhillips | 498 | |||
Shell Permian Assets [Member] | ||||
Business Acquisition [Line Items] | ||||
Proforma - Total revenues and other income | $ 3,220 | 1,685 | ||
Proforma - Income (Loss) before income taxes | 1,201 | (247) | ||
Proforma - Net loss attributable to ConocoPhillips | 920 | (189) | ||
Combined [Member] | ||||
Business Acquisition [Line Items] | ||||
Proforma - Total revenues and other income | 51,569 | 24,703 | ||
Proforma - Income (Loss) before income taxes | 13,913 | (2,600) | ||
Proforma - Net loss attributable to ConocoPhillips | $ 8,999 | $ (2,392) | ||
Proforma - Basic net loss | $ 6.78 | $ (1.75) | ||
Proforma - Diluted net loss | $ 6.76 | $ (1.75) |
Investments, Loans and Long-Term Receivables (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Jun. 30, 2019 |
Dec. 31, 2012 |
|
Equity method investments | ||||||
Impairments | $ 674 | $ 813 | $ 405 | |||
Investments and long-term receivables | $ 7,113 | 7,113 | 8,017 | |||
Book value of equity method investment | 6,701 | 6,701 | 7,596 | |||
Retained Earnings Undistributed Earnings From Equity Method Investees | 42 | 42 | ||||
Equity Method Investment Dividends Or Distributions | 1,279 | 1,076 | 1,378 | |||
APLNG [Member] | ||||||
Equity method investments | ||||||
Project finance facility, maximum borrowing capacity | $ 8,500 | |||||
Line Of Credit Facility Value Outstanding | $ 5,700 | $ 5,700 | ||||
Additional ownership percentage in equity investment acquired | 10.00% | 10.00% | ||||
Payments to acquire equity method investments | $ 1,645 | |||||
Ownership percentage in equity investment | 37.50% | 37.50% | ||||
Impairments | $ 688 | |||||
Impairments, after tax | 688 | |||||
Investments and long-term receivables | 5,574 | $ 5,574 | ||||
Book value of equity method investment | 5,523 | 5,523 | ||||
Difference between estimated value and book value of equity method investment | 51 | 51 | ||||
Amortizable portion of the basis difference in PPE | $ 39 | $ 39 | $ 41 | $ 36 | ||
Line of Credit Facility, Frequency of Payments | bi-annual | |||||
APLNG [Member] | Origin Energy [Member] | ||||||
Equity method investments | ||||||
Ownership percentage in equity investment | 37.50% | 37.50% | ||||
APLNG [Member] | Sinopec [Member] | ||||||
Equity method investments | ||||||
Ownership percentage in equity investment | 25.00% | 25.00% | ||||
APLNG [Member] | U S Private Placement Bond [Member] | ||||||
Equity method investments | ||||||
Number of note facilities | 2 | 2 | ||||
QG3 [Member] | ||||||
Equity method investments | ||||||
Project finance facility, maximum borrowing capacity | $ 4,000 | $ 4,000 | ||||
Ownership percentage in equity investment | 30.00% | 30.00% | ||||
Book value of equity method investment | $ 736 | $ 736 | ||||
Loan balance with affiliated company | $ 114 | $ 114 | ||||
Line of Credit Facility, Frequency of Payments | Semi-annual | |||||
QG3 [Member] | QatarEnergy [Member] | ||||||
Equity method investments | ||||||
Ownership percentage in equity investment | 68.50% | 68.50% | ||||
QG3 [Member] | Mitsui & Co., Ltd. [Member] | ||||||
Equity method investments | ||||||
Ownership percentage in equity investment | 1.50% | 1.50% | ||||
QG3 [Member] | Credit Agencies [Member] | ||||||
Equity method investments | ||||||
Project finance facility, maximum borrowing capacity | $ 1,300 | $ 1,300 | ||||
QG3 [Member] | Commerical Banks [Member] | ||||||
Equity method investments | ||||||
Project finance facility, maximum borrowing capacity | 1,500 | 1,500 | ||||
QG3 [Member] | Parent Company [Member] | ||||||
Equity method investments | ||||||
Project finance facility, maximum borrowing capacity | $ 1,200 | $ 1,200 | ||||
Golden Pass LNG Terminal and Golden Pass Pipeline [Member] | ||||||
Equity method investments | ||||||
Ownership percentage in equity investment | 12.40% |
Investments, Loans and Long-Term Receivables (Components of Investments, Loans and Long-Term Receivables) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Summary Of Investment Holdings [Line Items] | ||
Equity investments | $ 6,701 | $ 7,596 |
Loans and advances-related parties | 0 | 114 |
Long-term receivables | 98 | 137 |
Long-term investments in debt securities | 248 | 217 |
Other investments | 66 | 67 |
Total | $ 7,113 | $ 8,131 |
Investments, Loans and Long-Term Receivables (Summarized Financial Information for Equity Method Investments in Affiliated Companies) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Schedule of Equity Method Investments [Line Items] | |||
Revenues | $ 48,349 | $ 19,256 | $ 36,670 |
Net income | 8,079 | (2,655) | 7,257 |
Current assets | 16,050 | 12,066 | |
Current liabilities | 12,021 | 5,366 | |
Affiliated Companies [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Revenues | 11,824 | 7,931 | 11,310 |
Income before income taxes | 3,946 | 1,843 | 3,726 |
Net income | 2,557 | 1,426 | $ 3,085 |
Current assets | 4,493 | 2,579 | |
Noncurrent assets | 36,602 | 35,257 | |
Current liabilities | 3,498 | 2,110 | |
Noncurrent liabilities | $ 17,465 | $ 18,099 |
Investment in Cenovus Energy (Narrative) (Details) - Common Stock [Member] - Cenovus Energy Inc [Member] shares in Millions, $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2021
USD ($)
shares
| |
Debt and Equity Securities, FV-NI [Line Items] | |
Equity securities, shares sold | shares | 117 |
Proceeds recognized from sale of equity securities | $ 1,140 |
Proceeds received from sale of equity securities | $ 1,180 |
Investment in Cenovus Energy (Schedule of Investment in Common Shares Carried at Fair Value) (Details) - Cenovus Energy Inc [Member] - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Debt and Equity Securities, FV-NI [Line Items] | ||
Number of shares of CVE common stock (millions) | 91 | 208 |
Ownership of issued and outstanding common stock | 4.50% | 16.90% |
Closing price on NYSE on last trading day ($/share) | $ 12.28 | $ 6.04 |
Fair Value (millions of dollars) | $ 1,117 | $ 1,256 |
Investment in Cenovus Energy (Gains and Losses Recorded in Other Income (Loss)) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Debt and Equity Securities, FV-NI [Line Items] | |||
Total Net gain (loss) on equity securtities | $ 1,040 | $ (855) | $ 649 |
Cenovus Energy Inc [Member] | |||
Debt and Equity Securities, FV-NI [Line Items] | |||
Total Net gain (loss) on equity securtities | 1,040 | (855) | 649 |
Less: Net gain (loss) on equity securities sold during the period | 473 | ||
Unrealized gain (loss) on equity securities still held at the reporting date | $ 567 | $ (855) | $ 649 |
Suspended Wells and Exploration Expenses (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Suspended Wells and Exploration Expenses [Abstract] | |||
Exploration expenses | $ 344 | $ 1,457 | $ 743 |
Impaired Assets To Be Disposed Of By Method Other Than Sale [Line Items] | |||
Exploration Expense | $ 344 | 1,457 | 743 |
Alaska [Member] | |||
Suspended Wells and Exploration Expenses [Abstract] | |||
Exploration expenses | 828 | ||
Impaired Assets To Be Disposed Of By Method Other Than Sale [Line Items] | |||
Exploration Expense | 828 | ||
Other International [Member] | |||
Suspended Wells and Exploration Expenses [Abstract] | |||
Exploration expenses | 84 | ||
Impaired Assets To Be Disposed Of By Method Other Than Sale [Line Items] | |||
Exploration Expense | 84 | ||
Asia Pacific [Member] | |||
Suspended Wells and Exploration Expenses [Abstract] | |||
Exploration expenses | 50 | ||
Impaired Assets To Be Disposed Of By Method Other Than Sale [Line Items] | |||
Exploration Expense | $ 50 | ||
Lower 48 [Member] | |||
Suspended Wells and Exploration Expenses [Abstract] | |||
Exploration expenses | 141 | ||
Impaired Assets To Be Disposed Of By Method Other Than Sale [Line Items] | |||
Exploration Expense | 141 | ||
Lower 48 [Member] | Central Louisiana Austin Chalk [Member] | |||
Suspended Wells and Exploration Expenses [Abstract] | |||
Exploration expenses | 111 | ||
Impaired Assets To Be Disposed Of By Method Other Than Sale [Line Items] | |||
Exploration Expense | $ 111 |
Suspended Wells and Exploration Expenses (Net Changes in Suspended Exploratory Well Costs) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Suspended Wells and Exploration Expenses [Abstract] | |||
Beginning balance | $ 682 | $ 1,020 | $ 856 |
Additions pending the determination of proved reserves | 10 | 164 | 239 |
Reclassifications to proved properties | 0 | (42) | (11) |
Sales of suspended wells | 0 | (313) | (54) |
Charged to dry hole expense | (32) | (147) | (10) |
Ending balance | 660 | 682 | 1,020 |
Capitalized Exploratory Well Costs [Line Items] | |||
Capitalized cost of suspended wells | $ 660 | 682 | 1,020 |
Australia [Member] | |||
Suspended Wells and Exploration Expenses [Abstract] | |||
Beginning balance | $ 313 | ||
Ending balance | 313 | ||
Capitalized Exploratory Well Costs [Line Items] | |||
Capitalized cost of suspended wells | $ 313 |
Suspended Wells and Exploration Expenses (Aging of Suspended Well Cost) (Details) $ in Millions |
Dec. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
Dec. 31, 2018
USD ($)
|
---|---|---|---|---|
Suspended Wells and Exploration Expenses [Abstract] | ||||
Exploratory well costs capitalized for a period of one year or less | $ 4 | $ 156 | $ 206 | |
Exploratory well costs capitalized for a period greater than one year | 656 | 526 | 814 | |
Ending balance | $ 660 | $ 682 | $ 1,020 | $ 856 |
Number of projects with exploratory well costs capitalized for a period greater than one year | 22 | 22 | 23 | |
Capitalized Exploratory Well Costs [Line Items] | ||||
Capitalized cost of suspended wells | $ 660 | $ 682 | $ 1,020 | $ 856 |
Australia [Member] | ||||
Suspended Wells and Exploration Expenses [Abstract] | ||||
Ending balance | 313 | |||
Capitalized Exploratory Well Costs [Line Items] | ||||
Capitalized cost of suspended wells | $ 313 |
Suspended Wells and Exploration Expenses (Aging of Exploratory Well Cost, Capitalized for More than One Year) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|---|
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | $ 656 | $ 526 | $ 814 |
Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 433 | ||
Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 81 | ||
Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 142 | ||
Willow - Alaska [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 313 | ||
Willow - Alaska [Member] | Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 262 | ||
Willow - Alaska [Member] | Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 51 | ||
Willow - Alaska [Member] | Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
Surmont - Canada [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 121 | ||
Surmont - Canada [Member] | Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 2 | ||
Surmont - Canada [Member] | Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 19 | ||
Surmont - Canada [Member] | Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 100 | ||
PL 1009 - Norway [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 43 | ||
PL 1009 - Norway [Member] | Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 43 | ||
PL 1009 - Norway [Member] | Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
PL 1009 - Norway [Member] | Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
PL 891 - Norway [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 34 | ||
PL 891 - Norway [Member] | Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 34 | ||
PL 891 - Norway [Member] | Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
PL 891 - Norway [Member] | Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
Narwhal Trend - Alaska [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 25 | ||
Narwhal Trend - Alaska [Member] | Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 25 | ||
Narwhal Trend - Alaska [Member] | Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
Narwhal Trend - Alaska [Member] | Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
WL4-00 - Malaysia( [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 24 | ||
WL4-00 - Malaysia( [Member] | Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 24 | ||
WL4-00 - Malaysia( [Member] | Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
WL4-00 - Malaysia( [Member] | Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
PL782S - Norway [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 22 | ||
PL782S - Norway [Member] | Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 22 | ||
PL782S - Norway [Member] | Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
PL782S - Norway [Member] | Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
NC 98 - Libya [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 13 | ||
NC 98 - Libya [Member] | Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
NC 98 - Libya [Member] | Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 0 | ||
NC 98 - Libya [Member] | Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 13 | ||
Other of $10 Million or less each [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 61 | ||
Other of $10 Million or less each [Member] | Suspended Since 2018-2020 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 21 | ||
Other of $10 Million or less each [Member] | Suspended Since 2015-2017 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | 11 | ||
Other of $10 Million or less each [Member] | Suspended Since 2004-2014 [Member] | |||
Capitalized Exploratory Well Costs [Line Items] | |||
Exploratory well costs capitalized for a period greater than one year | $ 29 |
Impairments (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Mar. 31, 2020 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Segment Reporting Information [Line Items] | ||||||
Impairments | $ 674 | $ 813 | $ 405 | |||
APLNG [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Impairments | $ 688 | |||||
Asia Pacific [Member] | Operating Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Impairments | 695 | 0 | 0 | |||
Asia Pacific [Member] | Operating Segments [Member] | APLNG [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Impairments | 688 | |||||
Lower 48 [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Impairments | (89) | |||||
Lower 48 [Member] | Operating Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Impairments | $ 84 | (8) | 804 | 402 | ||
Lower 48 [Member] | Operating Segments [Member] | Noncore Assets [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Impairments | 813 | |||||
Lower 48 [Member] | Operating Segments [Member] | Wind River Basin [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Impairments | $ 287 | $ 523 | ||||
Lower 48 [Member] | Operating Segments [Member] | Niobrara [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Impairments | 402 | |||||
Europe, Middle East and North Africa [Member] | Operating Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Impairments | $ (24) | $ 6 | $ 1 |
Impairments (Before Tax Impairment Charges) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Segment Reporting Information [Line Items] | ||||
Impairments | $ 674 | $ 813 | $ 405 | |
Alaska [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairments | 5 | 0 | 0 | |
Lower 48 [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairments | (89) | |||
Lower 48 [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairments | $ 84 | (8) | 804 | 402 |
Canada | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairments | 6 | 3 | 2 | |
Europe, Middle East and North Africa [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairments | (24) | 6 | 1 | |
Asia Pacific [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Impairments | $ 695 | $ 0 | $ 0 |
Asset Retirement Obligations and Accrued Environmental Costs (Narrative) (Details) - USD ($) $ in Millions |
1 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Site Contingency [Line Items] | ||
Accrued environmental costs | $ 187 | $ 180 |
Accrued environmental costs discounted | 153 | |
Total environmental accrual included in balance sheet | $ 109 | |
Maximum Number of Years Accrued Environmental Liabilities will be Paid Over | 30 years | |
Expected expenditures for acquired environmental obligations, weighted-average discount factor rate | 5.00% | |
Cleanup Remediation Activities [Member] | ||
Site Contingency [Line Items] | ||
Accrued environmental costs | $ 135 | 116 |
Corporate and Other Environmental Liabilities [Member] | ||
Site Contingency [Line Items] | ||
Accrued environmental costs | 36 | 48 |
Federal Comprehensive Environmental Response Compensation and Liability Act or Similar State Laws [Member] | ||
Site Contingency [Line Items] | ||
Accrued environmental costs | $ 16 | $ 16 |
Asset Retirement Obligations and Accrued Environmental Costs (Asset Retirement Obligations and Accrued Environmental Costs) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|---|
Asset Retirement Obligations and Accrued Environmental Costs [Abstract] | |||
Asset retirement obligations | $ 5,926 | $ 5,573 | $ 6,206 |
Accrued environmental costs | 187 | 180 | |
Total asset retirement obligations and accrued environmental costs | 6,113 | 5,753 | |
Asset retirement obligations and accrued environmental costs due within one year | (359) | (323) | |
Long-term asset retirement obligations and accrued environmental costs | $ 5,754 | $ 5,430 |
Asset Retirement Obligations and Accrued Environmental Costs (Changes in Asset Retirement Obligation) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Asset Retirement Obligations and Accrued Environmental Costs [Abstract] | ||
Balance at January 1 | $ 5,573 | $ 6,206 |
Accretion of discount | 238 | 248 |
New obligations | 555 | 262 |
Changes in estimates of existing obligations | (113) | (307) |
Spending on existing obligations | (164) | (116) |
Property dispositions | (108) | (771) |
Foreign currency translation | (55) | 51 |
Balance at December 31 | $ 5,926 | $ 5,573 |
Debt (Narrative) (Details) - USD ($) |
12 Months Ended | |||
---|---|---|---|---|
Jan. 15, 2021 |
Dec. 31, 2021 |
Mar. 31, 2021 |
Dec. 31, 2020 |
|
Debt Instrument [Line Items] | ||||
Debt Instrument Face Amount | $ 17,766,000,000 | $ 14,292,000,000 | ||
Concho Resources Incorporated [Member] | ||||
Debt Instrument [Line Items] | ||||
Adjustment to fair value of the senior notes | $ 800,000,000 | |||
Long-term debt | 4,696,000,000 | |||
Business Combination, Notes Offered In Exchange | $ 3,900,000,000 | $ 3,900,000,000 | ||
Business Combination, Percent Of Notes Offered Tendered And Exchanged For New Debt | 98.00% | |||
Business Combination, Tendered And Exchanged Notes For New Debt | $ 3,800,000,000 | |||
Debt Instrument Face Amount | $ 67,000,000 | |||
Moody's, A3 Rating [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Credit Rating | Moody’s: “A3” with a “positive” outlook | |||
Fitch, A Rating [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Credit Rating | Fitch: “A” with a “stable” outlook | |||
Standard & Poor's, A- Rating [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Credit Rating | S&P: “A-” with a “stable” outlook | |||
Revolving Credit Facility [Member] | ||||
Short Term Debt [Line Items] | ||||
Maximum borrowing capacity under revolving credit facility | $ 6,000,000,000.0 | |||
Remaining borrowing capacity under revolving credit facility | $ 6,000,000,000.0 | |||
Maturity period of commercial paper (in days) | P90D | |||
Commercial Paper Program, Amount Outstanding | $ 0 | 0 | ||
Commercial Paper Program | 6,000,000,000.0 | |||
Minimum limit of debt for cross default provision | 200,000,000 | |||
Letter of Credit [Member] | ||||
Short Term Debt [Line Items] | ||||
Commercial Paper Program, Capacity | 500,000,000 | |||
Commercial Paper Program, Amount Outstanding | 0 | |||
VRDB [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument Face Amount | $ 283,000,000 | 283,000,000 | ||
Conoco Phillips Commercial Paper Program [Member] | Commercial Paper [Member] | ||||
Short Term Debt [Line Items] | ||||
Commercial Paper Program, Amount Outstanding | $ 300,000,000 |
Debt (Schedule of Debt - 1) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Debt Instrument [Line Items] | ||
Finance leases | $ 1,261 | $ 891 |
Net unamortized premiums, discounts and debt issuance costs | 907 | 186 |
Total debt | 19,934 | 15,369 |
9.125% Debentures due 2021 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 0 | 123 |
Stated interest rate | 9.125% | |
2.4% Notes due 2022 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 329 | 329 |
Stated interest rate | 2.40% | |
7.65% Debentures due 2023 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 78 | 78 |
Stated interest rate | 7.65% | |
3.35% Notes due 2024 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 426 | 426 |
Stated interest rate | 3.35% | |
8.2% Debentures due 2025 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 134 | 134 |
Stated interest rate | 8.20% | |
3.35% Notes due 2025 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 199 | 199 |
Stated interest rate | 3.35% | |
6.875% Debentures due 2026 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 67 | 67 |
Stated interest rate | 6.875% | |
4.95% Notes due 2026 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 1,250 | 1,250 |
Stated interest rate | 4.95% | |
7.8% Debentures due 2027 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 203 | 203 |
Stated interest rate | 7.80% | |
3.75% Notes due 2027 - 1 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 981 | 0 |
Stated interest rate | 3.75% | |
3.75% Notes due 2027 - 2 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 19 | 0 |
Stated interest rate | 3.75% | |
4.3% Notes due 2028 - 1 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 973 | 0 |
Stated interest rate | 4.30% | |
4.3% Notes due 2028 - 2 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 27 | 0 |
Stated interest rate | 4.30% | |
7.375% Debentures due 2029 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 92 | 92 |
Stated interest rate | 7.375% | |
7% Debentures due 2029 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 200 | 200 |
Stated interest rate | 7.00% | |
6.95% Notes due 2029 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 1,549 | 1,549 |
Stated interest rate | 6.95% | |
8.125% Notes due 2030 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 390 | 390 |
Stated interest rate | 8.125% | |
2.4% Notes due 2031 - 1 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 489 | 0 |
Stated interest rate | 2.40% | |
2.4% Notes due 2031 - 2 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 11 | 0 |
Stated interest rate | 2.40% | |
7.2% Notes due 2031 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 575 | 575 |
Stated interest rate | 7.20% | |
7.25% Notes due 2031 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 500 | 500 |
Stated interest rate | 7.25% | |
7.4% Notes due 2031 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 500 | 500 |
Stated interest rate | 7.40% | |
5.9% Notes due 2032 [Member[ | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 505 | 505 |
Stated interest rate | 5.90% | |
4.15% Notes due 2034 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 246 | 246 |
Stated interest rate | 4.15% | |
5.95% Notes due 2036 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 500 | 500 |
Stated interest rate | 5.95% | |
5.951% Notes due 2037 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 645 | 645 |
Stated interest rate | 5.951% | |
5.9% Notes due 2038 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 600 | 600 |
Stated interest rate | 5.90% | |
6.5% Notes due 2039 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 2,750 | 2,750 |
Stated interest rate | 6.50% | |
4.3% Notes due 2044 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 750 | 750 |
Stated interest rate | 4.30% | |
5.95% Notes due 2046 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 500 | 500 |
Stated interest rate | 5.95% | |
7.9% Debentures due 2047 [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 60 | 60 |
Stated interest rate | 7.90% | |
4.875% Notes due 2047 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 800 | 0 |
Stated interest rate | 4.875% | |
4.85% Notes due 2048 - 1 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 590 | 0 |
Stated interest rate | 4.85% | |
4.85% Notes due 2048 - 2 [Member] | Notes Payable To Banks [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 10 | 0 |
Stated interest rate | 4.85% | |
Floating Rate Notes due 2022 [Member] | Floating Rate Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 500 | $ 500 |
Floating Rate Notes due 2022 [Member] | Floating Rate Notes [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 1.02% | 1.12% |
Floating Rate Notes due 2022 [Member] | Floating Rate Notes [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 1.12% | 2.81% |
Marine Terminal Revenue Refunding Bonds due 2031 [Member] | Variable Rate Debt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 265 | $ 265 |
Marine Terminal Revenue Refunding Bonds due 2031 [Member] | Variable Rate Debt Bonds [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 0.04% | 0.10% |
Marine Terminal Revenue Refunding Bonds due 2031 [Member] | Variable Rate Debt Bonds [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 0.15% | 7.50% |
Industrial Development Bonds due 2035 [Member] | Variable Rate Debt Bonds [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 18 | $ 18 |
Industrial Development Bonds due 2035 [Member] | Variable Rate Debt Bonds [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 0.04% | 0.11% |
Industrial Development Bonds due 2035 [Member] | Variable Rate Debt Bonds [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 0.12% | 7.50% |
Other Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 35 | $ 38 |
Commercial Paper [Member] | Commercial Paper Variable Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt at face value | $ 0 | $ 300 |
Commercial Paper [Member] | Commercial Paper Variable Rate [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 0.05% | |
Commercial Paper [Member] | Commercial Paper Variable Rate [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 0.22% |
Debt (Schedule of Debt - 2) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Debt [Abstract] | ||
Total debt | $ 19,934 | $ 15,369 |
Short-term debt | (1,200) | (619) |
Long-term debt | $ 18,734 | $ 14,750 |
Guarantees (Narrative) (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2021
USD ($)
| |
Australia Pacific APLNG [Member] | |
Guarantor Obligations [Line Items] | |
Ownership percentage in equity investment | 37.50% |
Finance Reserve Guarantee [Member] | Australia Pacific APLNG [Member] | |
Guarantor Obligations [Line Items] | |
Terms of guarantees outstanding | P9Y |
Maximum potential amount of future payments | $ 170 |
Carrying value of the guarantee to third-party lenders | 14 |
Max potential future payments-reckless breach [Member] | Australia Pacific APLNG [Member] | |
Guarantor Obligations [Line Items] | |
Maximum potential amount of future payments | 1,200 |
Max potential future payments-prorata share [Member] | Australia Pacific APLNG [Member] | |
Guarantor Obligations [Line Items] | |
Maximum potential amount of future payments | $ 660 |
Continued development [Member] | Australia Pacific APLNG [Member] | |
Guarantor Obligations [Line Items] | |
Terms of guarantees outstanding | 15 to 24 years |
Maximum potential amount of future payments | $ 180 |
Carrying value of the guarantee to third-party lenders | 11 |
Other Guarantees [Member] | |
Guarantor Obligations [Line Items] | |
Maximum potential amount of future payments | 720 |
Carrying value of the guarantee to third-party lenders | $ 8 |
Other Guarantees [Member] | Maximum [Member] | |
Guarantor Obligations [Line Items] | |
Terms of guarantees outstanding | one to five years |
Indemnifications [Member] | |
Guarantor Obligations [Line Items] | |
Carrying value of the guarantee to third-party lenders | $ 20 |
Contingencies and Commitments (Narrative) (Details) $ in Millions |
1 Months Ended | 12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Aug. 02, 2019
USD ($)
|
Mar. 31, 2019
USD ($)
|
Aug. 31, 2018
USD ($)
|
Apr. 30, 2018
USD ($)
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2017
Lawsuits
|
May 10, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
Aug. 29, 2019
USD ($)
|
|
Loss Contingencies [Line Items] | ||||||||||
2022 | $ 7 | |||||||||
2023 | 7 | |||||||||
2024 | 7 | |||||||||
2025 | 7 | |||||||||
2026 | 7 | |||||||||
2027 and after | 43 | |||||||||
Total payments under agreement | 27 | $ 25 | $ 25 | |||||||
Barossa Project [Member] | Asia Pacific Operating Segment [Member] | Operating Segments [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Receivable in dispute | $ 200 | $ 200 | ||||||||
Performance Obligation [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Letters of Credit Outstanding, Amount | $ 337 | |||||||||
Several Louisiana parishes and the State of Louisiana against oil and gas companies [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Loss Contingency, New Claims Filed, Number | Lawsuits | 43 | |||||||||
Several Louisiana parishes and the State of Louisiana against oil and gas companies [Member] | ConocoPhillips Entities [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Loss Contingency, New Claims Filed, Number | Lawsuits | 22 | |||||||||
Outer Continental Shelf Lease [Member] | Phillips Petroleum Company [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Ownership percentage in equity investment | 25.00% | |||||||||
Sale of interest, duration | 30 years | |||||||||
Venezuela | ConocoPhillips Versus Petroleos de Venezuela ICISD [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 | ConocoPhillips vs Petroleos De Venezuela ICC [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation Settlement, Amount Awarded from Other Party | $ 33 | $ 500 | $ 2,000 | |||||||
Loss Contingency, Settlement Agreement, 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. The balance of the settlement is to be paid quarterly over a period of four and a half years. | |||||||||
Cash Proceeds from Legal Settlements | $ 768 |
Derivative and Financial Instruments (Narrative - Commodity) (Details) - Commodity Contract [Member] - Concho Resources Incorporated [Member] - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Jan. 15, 2021 |
|
Derivative [Line Items] | ||
Derivative, Fair Value, Net | $ 456 | |
Gains (losses) from commodity derivatives | $ (305) | |
Increase (Decrease) in Commodity Contract Assets and Liabilities | $ 761 |
Derivative and Financial Instruments (Narrative - Foreign Currency Exchange) (Details) $ in Millions, $ in Billions |
12 Months Ended | |
---|---|---|
Dec. 31, 2021
AUD ($)
|
Dec. 31, 2020
CAD ($)
|
|
Derivative [Line Items] | ||
Description of Foreign Currency Derivative Instruments Not Designated as Hedging Instruments Activities | At December 31, 2021, we had outstanding foreign currency exchange forward contracts to buy $1.9 billion AUD at $0.715 AUD against the U.S. dollar in anticipation of our future acquisition of an additional interest in APLNG. At December 31, 2020, we had outstanding foreign currency exchange forward contracts to sell $0.45 billion CAD at $0.748 CAD against the U.S. dollar | |
Foreign Exchange Forward [Member] | Nondesignated [Member] | ||
Derivative [Line Items] | ||
Derivative, Forward Exchange Rate | 0.715 | 0.748 |
Net notional position of foreign currency exchange derivatives | $ 1.9 | $ 450 |
Derivative and Financial Instruments (Narrative - Financial Instruments) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Derivative and Financial Instruments [Abstract] | ||
Proceeds from sales and redemptions of investments in debt securities classified as available for sale | $ 594 | $ 422 |
Derivative and Financial Instruments (Narrative - Credit Risk) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Collateral was posted for derivative instruments in a liability position | $ 0 | $ 0 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Credit Derivative, Recourse Provisions | 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. | |
In event of lowered credit rating [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Aggregate fair value of all derivative instruments in a liability position | $ 281 | $ 25 |
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 | $ 252 | |
Trade receivables [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Terms of financial instruments and trade receivables | 30 days |
Derivative and Financial Instruments (Commodity - Balance Sheet Location - Fair Value Amounts of Derivatives) (Details) - Commodity Contract [Member] - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Prepaid expenses and other current assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Commodity derivative assets | $ 1,168 | $ 229 |
Other assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Commodity derivative assets | 75 | 26 |
Other accruals [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Commodity derivative liabilities | 1,160 | 202 |
Other liabilities and deferred credits [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Commodity derivative liabilities | $ 63 | $ 18 |
Derivative and Financial Instruments (Commodity - Income Statement Location - Gain (Loss) Amounts of Derivatives) (Details) - Commodity Contract [Member] - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Sales and other operating revenues [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) from commodity derivatives | $ (228,000,000) | $ 19,000,000 | $ 141,000,000 |
Other Income (Loss) [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) from commodity derivatives | 25,000,000 | 4,000,000 | 4,000,000 |
Purchased commodities [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) from commodity derivatives | $ 75,000,000 | $ 11,000,000 | $ (118,000,000) |
Derivative and Financial Instruments (Commodity - Net Exposures from Outstanding Derivative Contracts) (Details) - Commodity Contract [Member] - Bcf |
12 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Natural gas and power, Fixed price [Member] | Long [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Commodity derivatives - volumetric material net exposures | 4 | |
Natural gas and power, Fixed price [Member] | Short [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Commodity derivatives - volumetric material net exposures | 20 | |
Natural gas and power, Basis [Member] | Short [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Commodity derivatives - volumetric material net exposures | 22 | 10 |
Derivative and Financial Instruments (Foreign Currency Exchange - Balance Sheet Location and Fair Value Amounts of Derivatives) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Prepaid Expenses and Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Foreign currency exchange derivative assets | $ 28 | $ 2 |
Other Accruals [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Foreign currency exchange derivative liabilities | $ 9 | $ 16 |
Derivative and Financial Instruments (Foreign Currency Exchange - Income Statement Location and Gain (Loss) Amounts of Derivatives) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Foreign currency transaction gains (losses) [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Foreign currency transaction (gains) losses | $ (5) | $ (40) | $ 16 |
Derivative and Financial Instruments (Foreign Currency Exchange - Net Exposures from Outstanding Derivative Contracts) (Details) - Nondesignated [Member] £ in Millions, $ in Millions, $ in Millions |
Dec. 31, 2021
AUD ($)
|
Dec. 31, 2021
CAD ($)
|
Dec. 31, 2021
GBP (£)
|
Dec. 31, 2020
AUD ($)
|
Dec. 31, 2020
CAD ($)
|
Dec. 31, 2020
GBP (£)
|
---|---|---|---|---|---|---|
Buy British Pound Sell Euro [Member] | ||||||
Notional Disclosures [Abstract] | ||||||
Net notional position of foreign currency exchange derivatives | £ | £ 155 | £ 0 | ||||
Sell British Pound, Buy Euro [Member] | ||||||
Notional Disclosures [Abstract] | ||||||
Net notional position of foreign currency exchange derivatives | £ | £ 0 | £ 5 | ||||
Sell Canadian dollar, buy U.S. dollar [Member] | ||||||
Notional Disclosures [Abstract] | ||||||
Net notional position of foreign currency exchange derivatives | $ 0 | $ 370 | ||||
Foreign Exchange Forward [Member] | ||||||
Notional Disclosures [Abstract] | ||||||
Net notional position of foreign currency exchange derivatives | $ 1,900 | 450 | ||||
Buy Canadian Dollar, Sell US Dollar [Member] | ||||||
Notional Disclosures [Abstract] | ||||||
Net notional position of foreign currency exchange derivatives | $ 77 | $ 0 | ||||
Buy Australian Dollar, Sell US Dollar [Member] | ||||||
Notional Disclosures [Abstract] | ||||||
Net notional position of foreign currency exchange derivatives | $ 1,850 | $ 0 |
Derivative and Financial Instruments (Financial Instruments - Net Carrying Amount of Held to Maturity Investments) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||
Cash and Cash Equivalents, carried at cost plus accrued interest | $ 5,018 | $ 2,978 |
Short-term investments, carried at cost plus accrued interest | 225 | 3,320 |
Investments and long-term receivables carried at cost plus accrued interest | 0 | 1 |
Cash [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Cash and Cash Equivalents, carried at cost plus accrued interest | 670 | 597 |
Demand Deposits [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Cash and Cash Equivalents, carried at cost plus accrued interest | 1,554 | 1,133 |
Time Deposits [Member] | 1 to 90 days [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Cash and Cash Equivalents, carried at cost plus accrued interest | 2,363 | 1,225 |
Short-term investments, carried at cost plus accrued interest | 217 | 2,859 |
Time Deposits [Member] | 91 to 180 days [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Short-term investments, carried at cost plus accrued interest | 4 | 448 |
Time Deposits [Member] | Within one year [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Short-term investments, carried at cost plus accrued interest | 4 | 13 |
Time Deposits [Member] | One year through five years [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investments and long-term receivables carried at cost plus accrued interest | 0 | 1 |
U.S. Government Obligations [Member] | 1 to 90 days [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Cash and Cash Equivalents, carried at cost plus accrued interest | 431 | 23 |
Short-term investments, carried at cost plus accrued interest | $ 0 | $ 0 |
Derivative and Financial Instruments (Financial Instruments - Debt Securities Carried at Fair Value) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Schedule Of Available For Sale Securities [Line Items] | ||
Cash and cash equivalents | $ 5,028 | $ 2,991 |
Short-term Investments | 446 | 3,609 |
Investments and long-term receivables | 7,113 | 8,017 |
Remaining Maturities within One Year [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Cash and cash equivalents | 10 | 13 |
Short-term Investments | 221 | 289 |
Remaining Maturities Greater than One Year Through Eight Years [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments and long-term receivables | 248 | 216 |
Corporate Bonds [Member] | Remaining Maturities within One Year [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Cash and cash equivalents | 3 | 0 |
Short-term Investments | 128 | 130 |
Corporate Bonds [Member] | Remaining Maturities Greater than One Year Through Eight Years [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments and long-term receivables | 173 | 143 |
Commercial Paper [Member] | Remaining Maturities within One Year [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Cash and cash equivalents | 7 | 13 |
Short-term Investments | 82 | 155 |
U.S. Government Obligations [Member] | Remaining Maturities within One Year [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Short-term Investments | 0 | 4 |
U.S. Government Obligations [Member] | Remaining Maturities Greater than One Year Through Eight Years [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments and long-term receivables | 2 | 13 |
U.S. Government Agency Obligations [Member] | Remaining Maturities within One Year [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Short-term Investments | 2 | 0 |
U.S. Government Agency Obligations [Member] | Remaining Maturities Greater than One Year Through Eight Years [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments and long-term receivables | 8 | 17 |
Foreign Government Obligations [Member] | Remaining Maturities within One Year [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Short-term Investments | 7 | 0 |
Foreign Government Obligations [Member] | Remaining Maturities Greater than One Year Through Eight Years [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments and long-term receivables | 2 | 2 |
Asset-backed Securities [Member] | Remaining Maturities within One Year [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Short-term Investments | 2 | 0 |
Asset-backed Securities [Member] | Remaining Maturities Greater than One Year Through Eight Years [Member] | Carrying Amount [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Investments and long-term receivables | $ 63 | $ 41 |
Derivative and Financial Instruments (Financial Instruments - Amortized Cost Basis and Fair Value of Investments in Debt Securities Classified as Available for Sale) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost Basis | $ 479 | $ 516 |
Fair Value | 479 | 518 |
Corporate Bonds [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost Basis | 305 | 271 |
Fair Value | 304 | 273 |
Commercial Paper [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost Basis | 88 | 168 |
Fair Value | 89 | 168 |
U.S. Government Obligations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost Basis | 2 | 17 |
Fair Value | 2 | 17 |
U.S. Government Agency Obligations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost Basis | 10 | 17 |
Fair Value | 10 | 17 |
Foreign Government Obligations [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost Basis | 9 | 2 |
Fair Value | 9 | 2 |
Asset-backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost Basis | 65 | 41 |
Fair Value | $ 65 | $ 41 |
Fair Value Measurement (Narrative) (Details) - USD ($) |
3 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Fair Value Measurement [Abstract] | ||
Obligations to return cash collateral | $ 0 | $ 10,000,000 |
Rights to reclaim cash collateral | 36,000,000 | 4,000,000 |
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investments | $ 6,701,000,000 | $ 7,596,000,000 |
APLNG [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 10.00% | |
Equity Method Investments | $ 1,645,000,000 | |
Fair Value - Equity Method Investments | 5,574,000,000 | |
Before-Tax Loss - Equity method investments | $ 688,000,000 |
Fair Value Measurement (Fair Value Hierarchy for Gross Financial Assets and Liabilities) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in Cenovus Energy | $ 1,117 | $ 1,256 |
Commodity derivatives | 1,243 | 255 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in Cenovus Energy | 1,117 | 1,256 |
Investments in debt securities | 479 | 518 |
Commodity derivatives | 1,243 | 255 |
Total assets | 2,839 | 2,029 |
Commodity derivatives | 1,223 | 220 |
Total liabilities | 1,223 | 220 |
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 | 1,117 | 1,256 |
Investments in debt securities | 2 | 17 |
Commodity derivatives | 562 | 142 |
Total assets | 1,681 | 1,415 |
Commodity derivatives | 593 | 120 |
Total liabilities | 593 | 120 |
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 | 0 | 0 |
Investments in debt securities | 477 | 501 |
Commodity derivatives | 619 | 101 |
Total assets | 1,096 | 602 |
Commodity derivatives | 543 | 91 |
Total liabilities | 543 | 91 |
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 | 0 | 0 |
Investments in debt securities | 0 | 0 |
Commodity derivatives | 62 | 12 |
Total assets | 62 | 12 |
Commodity derivatives | 87 | 9 |
Total liabilities | $ 87 | $ 9 |
Fair Value Measurement (Values of Assets, by Major Category, Measured at Fair Value on a Nonrecurring Basis) (Details) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |
---|---|---|---|
Mar. 31, 2020 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value - Net PP&E (held for use) | $ 65 | $ 472 | $ 268 |
Fair Value - Equity Method Investments | 5,574 | ||
Before-Tax Loss - Net PP&E (Held for use) | 522 | 80 | 287 |
Before-Tax Loss - Equity method investments | 688 | ||
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value - Net PP&E (held for use) | 0 | 0 | 0 |
Fair Value - Equity Method Investments | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value - Net PP&E (held for use) | 0 | 0 | 0 |
Fair Value - Equity Method Investments | 5,574 | ||
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value - Net PP&E (held for use) | $ 65 | 472 | $ 268 |
Fair Value - Equity Method Investments | $ 0 |
Fair Value Measurement (Commodity Derivative Balances Subject to Right of Setoff) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Offsetting Derivative Assets [Abstract] | ||
Assets - Gross Amounts Recognized | $ 1,243 | $ 255 |
Assets - Amounts Not Subject to Right of Setoff | 85 | 2 |
Assets - Amounts Subject to Right of Setoff, Gross Amounts | 1,158 | 253 |
Assets - Amounts Subject to Right of Setoff, Gross Amounts Offset | 650 | 157 |
Assets - Amounts Subject to Right of Setoff, Net Amounts Presented | 508 | 96 |
Assets - Amounts Subject to Right of Setoff, Cash Collateral | 0 | 10 |
Assets - Amounts Subject to Right of Setoff, Net Amounts | 508 | 86 |
Offsetting Derivative Liabilities [Abstract] | ||
Liabilities - Gross Amounts Recognized | 1,223 | 220 |
Liabilities - Amounts Not Subject to Right of Setoff | 82 | 1 |
Liabilities - Amounts Subject to Right of Setoff, Gross Amounts | 1,141 | 219 |
Liabilities - Amounts Subject to Right of Setoff, Gross Amounts Offset | 650 | 157 |
Liabilities - Amounts Subject to Right of Setoff, Net Amounts Presented | 491 | 62 |
Liabilities - Amounts Subject to Right of Setoff, Cash Collateral | 36 | 4 |
Liabilities - Amounts Subject to Right of Setoff, Net Amounts | $ 455 | $ 58 |
Fair Value Measurement (Range and Arithmetic Average of Significant Unobservable Inputs) (Details) - Fair Value, Inputs, Level 3 [Member] - Fair Value Measurements Nonrecurring [Member] - Lower 48 [Member] $ in Millions |
3 Months Ended | 12 Months Ended | |
---|---|---|---|
Mar. 31, 2020
USD ($)
$ / MMBTU
MMcf
|
Dec. 31, 2021
USD ($)
MBoe
$ / Boe
|
Dec. 31, 2020
USD ($)
MBoe
$ / Boe
|
|
Lower 48 Gulf Coast and Rockies noncore field [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure | $ | $ 472 | ||
Lower 48 Gulf Coast and Rockies noncore field [Member] | Measurement Input, Commodity Future Price [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Future prices annual increase (decrease), percentage | 2.00% | ||
Lower 48 Gulf Coast and Rockies noncore field [Member] | Measurement Input, Commodity Future Price [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Production MBOED | MBoe | 0.2 | ||
Price outlook | $ / Boe | 41.45 | ||
Lower 48 Gulf Coast and Rockies noncore field [Member] | Measurement Input, Commodity Future Price [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Production MBOED | MBoe | 17 | ||
Price outlook | $ / Boe | 93.68 | ||
Lower 48 Gulf Coast and Rockies noncore field [Member] | Measurement Input, Commodity Future Price [Member] | Valuation Technique, Discounted Cash Flow [Member] | Arithmetic Average [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Production MBOED | MBoe | 5.4 | ||
Price outlook | $ / Boe | 64.39 | ||
Lower 48 Gulf Coast and Rockies noncore field [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount Rate | 7.30% | ||
Lower 48 Gulf Coast and Rockies noncore field [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount Rate | 9.70% | ||
Lower 48 Gulf Coast and Rockies noncore field [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Arithmetic Average [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount Rate | 8.70% | ||
Wind River Basin [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure | $ | $ 65 | ||
Wind River Basin [Member] | Measurement Input, Natural Gas [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Future prices annual increase (decrease), percentage | 2.20% | ||
Wind River Basin [Member] | Measurement Input, Natural Gas [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Production MMCFD | MMcf | 8.4 | ||
Price outlook | $ / MMBTU | 2.67 | ||
Wind River Basin [Member] | Measurement Input, Natural Gas [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Production MMCFD | MMcf | 55.2 | ||
Price outlook | $ / MMBTU | 9.17 | ||
Wind River Basin [Member] | Measurement Input, Natural Gas [Member] | Valuation Technique, Discounted Cash Flow [Member] | Arithmetic Average [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Production MMCFD | MMcf | 22.9 | ||
Price outlook | $ / MMBTU | 5.68 | ||
Wind River Basin [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount Rate | 7.90% | ||
Wind River Basin [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount Rate | 9.10% | ||
Wind River Basin [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Arithmetic Average [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount Rate | 8.30% | ||
Central Basin Platform [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Assets, Fair Value Disclosure | $ | $ 244 | ||
Central Basin Platform [Member] | Measurement Input, Commodity Future Price [Member] | Valuation Technique, Discounted Cash Flow [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Future prices annual increase (decrease), percentage | 2.00% | ||
Central Basin Platform [Member] | Measurement Input, Commodity Future Price [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Production MBOED | MBoe | 0.5 | ||
Price outlook | $ / Boe | 37.35 | ||
Central Basin Platform [Member] | Measurement Input, Commodity Future Price [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Production MBOED | MBoe | 12.7 | ||
Price outlook | $ / Boe | 115.29 | ||
Central Basin Platform [Member] | Measurement Input, Commodity Future Price [Member] | Valuation Technique, Discounted Cash Flow [Member] | Arithmetic Average [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Production MBOED | MBoe | 3.4 | ||
Price outlook | $ / Boe | 73.80 | ||
Central Basin Platform [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Minimum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount Rate | 6.80% | ||
Central Basin Platform [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Maximum [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount Rate | 7.70% | ||
Central Basin Platform [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member] | Arithmetic Average [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Discount Rate | 7.40% |
Fair Value Measurement (Net Fair Value of Financial Instruments) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Financial Assets [Abstract] | ||
Investment in CVE shares | $ 1,117 | $ 1,256 |
Carrying Amount [Member] | ||
Financial Assets [Abstract] | ||
Investment in CVE shares | 1,117 | 1,256 |
Commodity derivatives | 593 | 88 |
Investments in debt securities | 479 | 518 |
Loans and advances - related parties | 114 | 220 |
Financial Liabilities [Abstract] | ||
Total debt, excluding finance leases | 18,673 | 14,478 |
Carrying Amount [Member] | Commodity Contract [Member] | ||
Financial Liabilities [Abstract] | ||
Commodity derivatives | 537 | 59 |
Fair Value [Member] | ||
Financial Assets [Abstract] | ||
Investment in CVE shares | 1,117 | 1,256 |
Commodity derivatives | 593 | 88 |
Investments in debt securities | 479 | 518 |
Loans and advances - related parties | 114 | 220 |
Financial Liabilities [Abstract] | ||
Total debt, excluding finance leases | 22,451 | 19,106 |
Fair Value [Member] | Commodity Contract [Member] | ||
Financial Liabilities [Abstract] | ||
Commodity derivatives | $ 537 | $ 59 |
Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | 61 Months Ended | |||
---|---|---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2021 |
Dec. 31, 2016 |
|
Equity [Abstract] | |||||
Preferred Stock, Authorized | 500,000,000 | 500,000,000 | 500,000,000 | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | ||
Preferred Stock, Shares Issued | 0 | 0 | 0 | ||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 | ||
Treasury Stock, Shares, Acquired | 247,000,000 | ||||
Treasury Stock Value Acquired Cost Method | $ 3,623 | $ 892 | $ 3,500 | $ 14,000 | |
Stock Repurchase Program Authorized | $ 25,000 |
Equity (Changes in Shares of Common Stock) (Details) - shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Equity [Abstract] | |||
Beginning of year | 1,798,844,267 | 1,795,652,203 | 1,791,637,434 |
Acquisition of Concho | 285,928,872 | 0 | 0 |
Distributed under benefit plans | 6,789,608 | 3,192,064 | 4,014,769 |
End of year | 2,091,562,747 | 1,798,844,267 | 1,795,652,203 |
Beginning of year | 730,802,089 | 710,783,814 | 653,288,213 |
Repurchase of common stock | 58,517,786 | 20,018,275 | 57,495,601 |
End of year | 789,319,875 | 730,802,089 | 710,783,814 |
Non-Mineral Leases (Right-of-Use Assets and Lease Liabilities) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Leases [Line Items] | ||
Operating Leases: Total lease liabilities | $ 667 | $ 785 |
Finance Leases: Properties, plants and equipment, Gross | 1,812 | 1,375 |
Finance Leases: Properties, plants and equipment, Accumulated DD&A | (857) | (721) |
Finance Leases: Properties, plants and equipment, Net PP&E | 955 | 654 |
Finance Leases: Total lease liabilities | 1,261 | 891 |
Property Plant and Equipment [Member] | Proportionately Consolidated [Member] | ||
Leases [Line Items] | ||
Operating Leases: Total lease liabilities | 208 | 258 |
Prepaid Expenses and Other Current Assets [Member] | ||
Leases [Line Items] | ||
Operating Leases: Right-of-Use Assets | 16 | |
Finance Leases: Right-of-Use Assets | 2 | |
Other Assets [Member] | ||
Leases [Line Items] | ||
Operating Leases: Right-of-Use Assets | 649 | 783 |
Other Accruals [Member] | ||
Leases [Line Items] | ||
Operating Leases: Total lease liabilities | 188 | 226 |
Other Liabilities and Deferred Credits [Member] | ||
Leases [Line Items] | ||
Operating Leases: Total lease liabilities | 479 | 559 |
Short-Term Debt [Member] | ||
Leases [Line Items] | ||
Finance Leases: Total lease liabilities | 280 | 168 |
Short-Term Debt [Member] | Proportionately Consolidated [Member] | ||
Leases [Line Items] | ||
Finance Leases: Total lease liabilities | 154 | 97 |
Long-Term Debt [Member] | ||
Leases [Line Items] | ||
Finance Leases: Total lease liabilities | 981 | 723 |
Long-Term Debt [Member] | Proportionately Consolidated [Member] | ||
Leases [Line Items] | ||
Finance Leases: Total lease liabilities | $ 462 | $ 522 |
Non-Mineral Leases (Lease Cost) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Non-Mineral Leases [Abstract] | |||
Operating lease cost | $ 278 | $ 321 | $ 341 |
Finance lease cost: Amortization of right-of-use-assets | 148 | 163 | 99 |
Finance lease cost: Interest on lease liabilities | 27 | 34 | 37 |
Short-term lease cost | 21 | 42 | 77 |
Total lease cost | $ 474 | $ 560 | $ 554 |
Non-Mineral Leases (Lease Term and Discount Rate) (Details) |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Non-Mineral Leases [Abstract] | ||
Weighted-average term (years): Operating leases | 5 years 11 months 19 days | 6 years 1 month 9 days |
Weighted-average term (years): Finance leases | 7 years 5 months 26 days | 7 years 1 month 13 days |
Weighted-average discount rate (percent): Operating leases | 2.66% | 2.78% |
Weighted-average discount rate (percent): Finance leases | 3.24% | 4.27% |
Non-Mineral Leases (Other Information) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Non-Mineral Leases [Abstract] | |||
Operating cash flows from operating leases | $ 204 | $ 232 | $ 203 |
Operating cash flows from finance leases | 6 | 11 | 27 |
Financing cash flows from finance leases | 73 | 255 | 81 |
Right-of-use assets obtained in exchange for operating lease liabilities | 174 | 250 | 499 |
Right-of-use assets obtained in exchange for finance lease liabilities | $ 447 | $ 426 | $ 26 |
Non-Mineral Leases (Maturity of Lease Liabilities) (Details) $ in Millions |
Dec. 31, 2021
USD ($)
|
---|---|
Operating Leases | |
2022 | $ 195 |
2023 | 143 |
2024 | 114 |
2025 | 68 |
2026 | 50 |
Remaining years | 159 |
Total | 729 |
Finance Leases | |
2022 | 341 |
2023 | 199 |
2024 | 166 |
2025 | 143 |
2026 | 139 |
Remaining years | 462 |
Total | $ 1,450 |
Non-Mineral Leases (Maturity of Lease Liabilities - Alternate Calculation) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Operating Leases | ||
Total | $ 729 | |
Less: portion representing imputed interest | (62) | |
Total lease liabilities | 667 | $ 785 |
Finance Leases | ||
Total | 1,450 | |
Less: portion representing imputed interest | (189) | |
Finance leases | $ 1,261 | $ 891 |
Employee Benefit Plans (Narrative) (Details) $ / shares in Units, shares in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021
USD ($)
investments
$ / shares
shares
|
Dec. 31, 2020
USD ($)
$ / shares
|
Dec. 31, 2019
USD ($)
$ / shares
|
|
Defined Benefit Plan Disclosure [Line Items] | |||
Settlements | $ 102,000,000 | $ 43,000,000 | $ 62,000,000 |
Percent Amortized Of Unamortized Balance For Net Actuarial Gain And Losses | 10.00% | ||
Aggregate Intrinsic Value, exercised | $ 68,000,000 | ||
Restricted Stock Units R S U [Member] | Segment Discontinued Operations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Unrecognized compensation cost from stock options | $ 20,000,000 | ||
Weighted average period of recognition of unvested options, in months | 1 year 5 months 15 days | ||
Longest weighted-average period of recognition of unvested options, in months | 2 years | ||
Weighted-Average Grant-Date Fair Value, Granted | $ / shares | $ 46.43 | $ 51.46 | $ 63.58 |
Total Fair Value, Issued | $ 8,000,000 | $ 6,000,000 | $ 11,000,000 |
R S U Stock Settled Share [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Unrecognized compensation cost from stock options | $ 126,000,000 | ||
Weighted average period of recognition of unvested options, in months | 1 year 8 months 1 day | ||
Longest weighted-average period of recognition of unvested options, in months | 2 years 7 months 2 days | ||
Weighted-Average Grant-Date Fair Value, Granted | $ / shares | $ 46.56 | $ 57.40 | $ 67.77 |
Total Fair Value, Issued | $ 144,000,000 | $ 143,000,000 | $ 225,000,000 |
R S U Cash Settled [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Unrecognized compensation cost from stock options | $ 0 | ||
Weighted-Average Grant-Date Fair Value, Granted | $ / shares | $ 57.19 | $ 41.59 | $ 68.20 |
Total Fair Value, Issued | $ 20,000,000 | $ 6,000,000 | |
P S U Stock Settled [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Unrecognized compensation cost from stock options | 0 | ||
Weighted-Average Grant-Date Fair Value, Granted | $ / shares | $ 58.61 | $ 68.90 | |
Total Fair Value, Issued | 18,000,000 | $ 13,000,000 | $ 25,000,000 |
P S U Cash Settled Program [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Unrecognized compensation cost from stock options | $ 0 | ||
Weighted-Average Grant-Date Fair Value, Granted | $ / shares | $ 46.65 | $ 58.61 | $ 68.90 |
Total Fair Value, Issued | $ 52,000,000 | $ 116,000,000 | $ 171,000,000 |
Twenty Fourteen Omnibus Stock And Performance Incentive Plan Of Conoco Phillips [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Share Based Compensation Plan, number of shares authorized | shares | 79 | ||
Twenty Fourteen Omnibus Stock And Performance Incentive Plan Of Conoco Phillips [Member] | Employee Stock Option [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average remaining contractual term of outstanding options | 3 years 21 days | ||
Aggregate Intrinsic Value, exercised | 23,000,000 | 39,000,000 | |
Cash received from exercise of stock options | $ 198,000,000 | 15,000,000 | |
Defined Benefit Plan Debt Security [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Plan Assets Target Allocation Percentage | 74.00% | ||
Defined Benefit Plan Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Plan Assets Target Allocation Percentage | 22.00% | ||
Defined Benefit Plan Real Estate [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Plan Assets Target Allocation Percentage | 3.00% | ||
Other Investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan Plan Assets Target Allocation Percentage | 1.00% | ||
Insurance Contract Rights And Obligations Fair Value Option [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value Of Participating Interest In Annuity Contract | $ 83,000,000 | 94,000,000 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Company contributions | 24,000,000 | 31,000,000 | |
Settlements | 0 | 0 | 0 |
Curtailments | $ 0 | 0 | 0 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | Twenty Fourteen Omnibus Stock And Performance Incentive Plan Of Conoco Phillips [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Omnibus Stock and Performance Incentive Plan life | 10 years | ||
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | $ 115,000,000 | ||
Defined Contribution Plan Maximum Annual Contributions Per Employee Percent | 75.00% | ||
Number Of Investment Funds In Which Employee Can Contribute | investments | 17 | ||
Defined Contribution Plan Employer Matching Contribution Percent | 1.00% | ||
Defined Contribution Plan Employer Matching Contribution Percent Of Match | 6.00% | ||
Employer Matching Discretionary Contribution Percent | 6.00% | ||
Company contributions in savings plan and predecessor plans except leveraged employee stock ownership plan charged to expense | $ 93,000,000 | 62,000,000 | 82,000,000 |
U.S. [Member] | Defined Contribution Plan Company Retirement Contribution [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan Employer Matching Contribution Percent Of Match | 6.00% | ||
CRC Vesting Period | 3 years | ||
Defined Contribution Plan Vesting Percent | 100.00% | ||
U.S. [Member] | Twenty Fourteen Omnibus Stock And Performance Incentive Plan Of Conoco Phillips [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Share Based Compensation Plan, number of shares authorized | shares | 79 | ||
U.S. [Member] | Twenty Fourteen Omnibus Stock And Performance Incentive Plan Of Conoco Phillips [Member] | Incentive Stock Options [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Share Based Compensation Plan, number of shares authorized | shares | 40 | ||
U.S. [Member] | Pension Plans Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Company contributions | $ 451,000,000 | 99,000,000 | |
Settlements | 102,000,000 | 44,000,000 | 62,000,000 |
Curtailments | 12,000,000 | 0 | 0 |
Defined Benefit Plan Accumulated Benefit Obligation | 1,793,000,000 | 2,359,000,000 | |
U.S. [Member] | Pension Plans Defined Benefit [Member] | Insurance Contract Rights And Obligations Fair Value Option [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value Of Participating Interest In Annuity Contract | 83,000,000 | 94,000,000 | |
Defined Benefit Plan Accumulated Benefit Obligation | 123,000,000 | 139,000,000 | |
U.S. [Member] | Pension Plans Defined Benefit [Member] | Insurance Contract Rights And Obligations Fair Value Option [Member] | Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Debt Security [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair Value Of Participating Interest In Annuity Contract | 206,000,000 | 233,000,000 | |
Int'l (Pension Benefits) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 80,000,000 | ||
Company contributions in savings plan and predecessor plans except leveraged employee stock ownership plan charged to expense | 26,000,000 | 25,000,000 | 30,000,000 |
Int'l (Pension Benefits) [Member] | Pension Plans Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Company contributions | 119,000,000 | 60,000,000 | |
Settlements | 0 | (1,000,000) | 0 |
Curtailments | 0 | 0 | $ 0 |
Defined Benefit Plan Accumulated Benefit Obligation | $ 3,658,000,000 | $ 4,095,000,000 |
Employee Benefit Plans (Narrative-Health Care Trends) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Defined Benefit Plan Disclosure [Line Items] | |||
Pension settlement expense | $ (102) | $ (43) | $ (62) |
Percent Amortized Of Unamortized Balance For Net Actuarial Gain And Losses | 10.00% | ||
Defined Benefit Plans | $ (394) | 75 | (51) |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension settlement expense | $ 0 | $ 0 | 0 |
Discount Rate | 2.65% | 2.15% | |
U.S. [Member] | Pension Plans Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension settlement expense | $ (102) | $ (44) | (62) |
Discount Rate | 2.80% | 2.30% | |
U.S. [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | COP Pre Sixty Five Retiree [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Yea | 6.50% | ||
Defined Benefit Plan Ultimate Health Care Cost Trend Rate 1 | 5.00% | ||
U.S. [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | Post Sixty Five Retiree [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Yea | 4.25% | ||
Defined Benefit Plan Ultimate Health Care Cost Trend Rate 1 | 5.00% | ||
Foreign Pension Plans, Defined Benefit [Member] | Pension Plans Defined Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension settlement expense | $ 0 | $ 1 | $ 0 |
Discount Rate | 2.15% | 1.80% |
Employee Benefit Plans (Change in Benefit Obligations and Fair Value of Plan Assets) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Pension Plans Defined Benefit [Member] | U.S. [Member] | |||
Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at January 1 | $ 2,548 | $ 2,319 | |
Service cost | 73 | 85 | $ 79 |
Interest cost | 53 | 66 | 79 |
Plan participant contributions | 0 | 0 | |
Plan amendments | 0 | 0 | |
Actuarial (gain) loss | (117) | 319 | |
Benefits paid | (654) | (241) | |
Curtailment | 12 | 0 | |
Recognition of termination benefits | 9 | 0 | |
Foreign currency exchange rate change | 0 | 0 | |
Benefit obligation at December 31 | 1,924 | 2,548 | 2,319 |
Defined Benefit Plan Change In Fair Value Of Plan Assets [Roll Forward] | |||
Fair value of plan assets at January 1 | 1,770 | 1,591 | |
Actual return on plan assets | 97 | 321 | |
Company contributions | 451 | 99 | |
Plan participant contributions | 0 | 0 | |
Benefits paid | (654) | (241) | |
Foreign currency exchange rate change | 0 | 0 | |
Fair value of plan assets at December 31 | 1,664 | 1,770 | 1,591 |
Defined Benefit Plan, Funded Status of Plan | (260) | (778) | |
Pension Plans Defined Benefit [Member] | Foreign Pension Plans, Defined Benefit [Member] | |||
Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at January 1 | 4,403 | 3,880 | |
Service cost | 61 | 54 | 69 |
Interest cost | 79 | 85 | 97 |
Plan participant contributions | 0 | 1 | |
Plan amendments | 0 | 2 | |
Actuarial (gain) loss | (176) | 398 | |
Benefits paid | (162) | (151) | |
Curtailment | 0 | 2 | |
Recognition of termination benefits | 0 | 3 | |
Foreign currency exchange rate change | (81) | 129 | |
Benefit obligation at December 31 | 4,124 | 4,403 | 3,880 |
Defined Benefit Plan Change In Fair Value Of Plan Assets [Roll Forward] | |||
Fair value of plan assets at January 1 | 4,793 | 4,306 | |
Actual return on plan assets | 147 | 416 | |
Company contributions | 119 | 60 | |
Plan participant contributions | 1 | 1 | |
Benefits paid | (162) | (151) | |
Foreign currency exchange rate change | (86) | 161 | |
Fair value of plan assets at December 31 | 4,812 | 4,793 | 4,306 |
Defined Benefit Plan, Funded Status of Plan | 688 | 390 | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at January 1 | 170 | 216 | |
Service cost | 2 | 2 | 1 |
Interest cost | 4 | 6 | 8 |
Plan participant contributions | 16 | 18 | |
Plan amendments | 0 | (30) | |
Actuarial (gain) loss | (16) | 7 | |
Benefits paid | (40) | (49) | |
Curtailment | 1 | 0 | |
Recognition of termination benefits | 0 | 0 | |
Foreign currency exchange rate change | 0 | 0 | |
Benefit obligation at December 31 | 137 | 170 | 216 |
Defined Benefit Plan Change In Fair Value Of Plan Assets [Roll Forward] | |||
Fair value of plan assets at January 1 | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Company contributions | 24 | 31 | |
Plan participant contributions | 16 | 18 | |
Benefits paid | (40) | (49) | |
Foreign currency exchange rate change | 0 | 0 | |
Fair value of plan assets at December 31 | 0 | 0 | $ 0 |
Defined Benefit Plan, Funded Status of Plan | $ (137) | $ (170) |
Employee Benefit Plans (Change in Benefit Obligations) (Parenthetical) (Details) - Pension Plans Defined Benefit [Member] - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligation | $ 1,793 | $ 2,359 |
Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligation | $ 3,658 | $ 4,095 |
Employee Benefit Plans (Amounts Recognized in Balance Sheet and Assumptions) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Defined Benefit Plan Amounts Recognized In Balance Sheet [Abstract] | ||
Noncurrent liabilities | $ (1,153) | $ (1,697) |
Pension Plans Defined Benefit [Member] | U.S. [Member] | ||
Defined Benefit Plan Amounts Recognized In Balance Sheet [Abstract] | ||
Noncurrent assets | 1 | 0 |
Current liabilities | (29) | (56) |
Noncurrent liabilities | (232) | (722) |
Total recognized | $ (260) | $ (778) |
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Abstract] | ||
Discount Rate | 2.80% | 2.30% |
Rate of compensation increase | 4.00% | 4.00% |
Interest crediting rate for applicable benefits | 2.50% | 2.10% |
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract] | ||
Discount rate | 2.60% | 3.05% |
Expected return on assets | 5.20% | 5.80% |
Rate of compensation increase | 4.00% | 4.00% |
Interest crediting rate for applicable benefits | 2.10% | 4.10% |
Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax [Abstract] | ||
Unrecognized net actuarial loss (gain) | $ 188 | $ 467 |
Unrecognized prior service cost (credit) | 0 | 0 |
Pension Plans Defined Benefit [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Amounts Recognized In Balance Sheet [Abstract] | ||
Noncurrent assets | 991 | 746 |
Current liabilities | (15) | (11) |
Noncurrent liabilities | (288) | (345) |
Total recognized | $ 688 | $ 390 |
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Abstract] | ||
Discount Rate | 2.15% | 1.80% |
Rate of compensation increase | 3.40% | 3.10% |
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract] | ||
Discount rate | 1.80% | 2.35% |
Expected return on assets | 2.50% | 3.60% |
Rate of compensation increase | 3.40% | 3.35% |
Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax [Abstract] | ||
Unrecognized net actuarial loss (gain) | $ 86 | $ 326 |
Unrecognized prior service cost (credit) | 1 | 0 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Amounts Recognized In Balance Sheet [Abstract] | ||
Noncurrent assets | 0 | 0 |
Current liabilities | (34) | (39) |
Noncurrent liabilities | (103) | (131) |
Total recognized | $ (137) | $ (170) |
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Benefit Obligation [Abstract] | ||
Discount Rate | 2.65% | 2.15% |
Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract] | ||
Discount rate | 2.35% | 3.10% |
Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax [Abstract] | ||
Unrecognized net actuarial loss (gain) | $ (1) | $ 14 |
Unrecognized prior service cost (credit) | $ (145) | $ (182) |
Employee Benefit Plans (Projected and Accumulated Benefit Obligations in Excess of Fair Value) (Details) - Pension Plans Defined Benefit [Member] - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
---|---|---|---|
U.S. [Member] | |||
Employee Benefit Plans [Abstract] | |||
Defined Benefit Plan Accumulated Benefit Obligation | $ 1,793 | $ 2,359 | |
Defined Benefit Plan Fair Value Of Plan Assets | 1,664 | 1,770 | $ 1,591 |
Defined Benefit Plan Plans With Benefit Obligations In Excess Of Plan Assets [Abstract] | |||
Projected benefit obligation | 261 | 2,548 | |
Fair value of plan assets | 0 | 1,770 | |
Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets [Abstract] | |||
Accumulated benefit obligation | 234 | 2,359 | |
Fair Value Of Plan Assets | 0 | 1,770 | |
Foreign Pension Plans, Defined Benefit [Member] | |||
Employee Benefit Plans [Abstract] | |||
Defined Benefit Plan Accumulated Benefit Obligation | 3,658 | 4,095 | |
Defined Benefit Plan Fair Value Of Plan Assets | 4,812 | 4,793 | $ 4,306 |
Defined Benefit Plan Plans With Benefit Obligations In Excess Of Plan Assets [Abstract] | |||
Projected benefit obligation | 362 | 391 | |
Fair value of plan assets | 58 | 35 | |
Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets [Abstract] | |||
Accumulated benefit obligation | 271 | 338 | |
Fair Value Of Plan Assets | $ 9 | $ 35 |
Employee Benefit Plans (Before-Tax Amounts not Recognized in Net Periodic Benefit Cost and Sources of Change in Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Period Increase Decrease [Abstract] | |||
Net actuarial gain (loss) arising during the period | $ 357 | $ (210) | $ (55) |
Amortization of (gain) loss included in income | 178 | 117 | 146 |
Prior service (cost) credit arising during the period | 0 | 29 | 0 |
Amortization of prior service cost (credit) included in net loss | (38) | (32) | $ (35) |
Pension Plans Defined Benefit [Member] | U.S. [Member] | |||
Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Period Increase Decrease [Abstract] | |||
Net actuarial gain (loss) arising during the period | 134 | (83) | |
Amortization of (gain) loss included in income | 145 | 95 | |
Net change during the period | (279) | (12) | |
Prior service (cost) credit arising during the period | 0 | 0 | |
Amortization of prior service cost (credit) included in net loss | 0 | 0 | |
Net change during the period | 0 | 0 | |
Pension Plans Defined Benefit [Member] | Foreign Pension Plans, Defined Benefit [Member] | |||
Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Period Increase Decrease [Abstract] | |||
Net actuarial gain (loss) arising during the period | 207 | (120) | |
Amortization of (gain) loss included in income | 33 | 21 | |
Net change during the period | (240) | 99 | |
Prior service (cost) credit arising during the period | 0 | (1) | |
Amortization of prior service cost (credit) included in net loss | (1) | (1) | |
Net change during the period | (1) | (2) | |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Other Comprehensive Income Defined Benefit Plans Adjustment Before Tax Period Increase Decrease [Abstract] | |||
Net actuarial gain (loss) arising during the period | 16 | (7) | |
Amortization of (gain) loss included in income | 0 | 1 | |
Net change during the period | (16) | 6 | |
Prior service (cost) credit arising during the period | 0 | 30 | |
Amortization of prior service cost (credit) included in net loss | (37) | (31) | |
Net change during the period | $ (37) | $ (1) |
Employee Benefit Plans (Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Settlements | $ 102 | $ 43 | $ 62 |
Pension Plans Defined Benefit [Member] | U.S. [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 73 | 85 | 79 |
Interest cost | 53 | 66 | 79 |
Expected return on plan assets | (80) | (85) | (74) |
Amortization of prior service cost (credit) | 0 | 0 | 0 |
Recognized net actuarial (gain) loss | 43 | 51 | 54 |
Settlements | 102 | 44 | 62 |
Curtailments | 12 | 0 | 0 |
Net periodic benefit cost | 203 | 161 | 200 |
Pension Plans Defined Benefit [Member] | Int'l (Pension Benefits) [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 61 | 54 | 69 |
Interest cost | 79 | 85 | 97 |
Expected return on plan assets | (120) | (145) | (138) |
Amortization of prior service cost (credit) | (1) | (1) | (2) |
Recognized net actuarial (gain) loss | 33 | 22 | 32 |
Settlements | 0 | (1) | 0 |
Curtailments | 0 | 0 | 0 |
Net periodic benefit cost | 52 | 14 | 58 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 2 | 2 | 1 |
Interest cost | 4 | 6 | 8 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of prior service cost (credit) | (37) | (31) | (33) |
Recognized net actuarial (gain) loss | 0 | 1 | (2) |
Settlements | 0 | 0 | 0 |
Curtailments | 0 | 0 | 0 |
Net periodic benefit cost | $ (31) | $ (22) | $ (26) |
Employee Benefit Plans (Fair values of pension plan assets and Textuals) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
---|---|---|
Defined Benefit Plan Disclosure [Line Items] | ||
Payables To Broker Dealers And Clearing Organizations | $ 5 | $ 7 |
Insurance Contract Rights And Obligations Fair Value Option [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair Value Of Participating Interest In Annuity Contract | 83 | 94 |
U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 68 | 180 |
Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 1,375 | 1,296 |
Portion At Other Than Fair Value, Fair Value Disclosure [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 1,580 | 1,675 |
Portion At Other Than Fair Value, Fair Value Disclosure [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 4,808 | 4,787 |
Defined Benefit Plan Equity Securities Us [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 8 | 8 |
Defined Benefit Plan Equity Securities Us [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Defined Benefit Plan Equity Securities Non Us [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 42 | 99 |
Defined Benefit Plan Equity Securities Non Us [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Mutual Funds -Equity [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 17 | 72 |
Mutual Funds -Equity [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 639 | 619 |
Common Collective Trust Equity Securities [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 394 | 678 |
Common Collective Trust Equity Securities [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 417 | 372 |
Defined Benefit Plan Debt Security [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 1 | 1 |
Defined Benefit Plan Debt Security [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Mutual Fund [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Mutual Fund [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 511 | 455 |
Defined Benefit Plan Common Collective Trust [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 1,073 | 730 |
Defined Benefit Plan Common Collective Trust [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 3,015 | 3,007 |
Defined Benefit Plan Cash And Cash Equivalents [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Defined Benefit Plan Cash And Cash Equivalents [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 68 | 74 |
Defined Benefit Plan Cash And Cash Equivalents [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 9 | 8 |
Defined Benefit Plan Cash And Cash Equivalents [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Defined Benefit Plan Derivative [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | |
Defined Benefit Plan Derivative [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 6 | |
Defined Benefit Plan Real Estate [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Defined Benefit Plan Real Estate [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 157 | 142 |
Defined Benefit Plan Real Estate [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 36 | 79 |
Defined Benefit Plan Real Estate [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 1 | 112 |
Fair Value, Inputs, Level 1 [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 62 | 171 |
Fair Value, Inputs, Level 1 [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 815 | 770 |
Fair Value, Inputs, Level 1 [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 62 | 171 |
Fair Value, Inputs, Level 1 [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 815 | 770 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Equity Securities Us [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 3 | 0 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Equity Securities Us [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Equity Securities Non Us [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 42 | 99 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Equity Securities Non Us [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mutual Funds -Equity [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 17 | 72 |
Fair Value, Inputs, Level 1 [Member] | Mutual Funds -Equity [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 236 | 235 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Debt Security [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Debt Security [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 511 | 455 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Cash And Cash Equivalents [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Cash And Cash Equivalents [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 68 | 74 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Derivative [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Derivative [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 6 | |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Real Estate [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Real Estate [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 1 | 4 |
Fair Value, Inputs, Level 2 [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 403 | 384 |
Fair Value, Inputs, Level 2 [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 1 | 4 |
Fair Value, Inputs, Level 2 [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 403 | 384 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Equity Securities Us [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 3 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Equity Securities Us [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Equity Securities Non Us [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Equity Securities Non Us [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Mutual Funds -Equity [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Mutual Funds -Equity [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 403 | 384 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Debt Security [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 1 | 1 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Debt Security [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Cash And Cash Equivalents [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Cash And Cash Equivalents [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Derivative [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Derivative [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Real Estate [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Real Estate [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 5 | 5 |
Fair Value, Inputs, Level 3 [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 157 | 142 |
Fair Value, Inputs, Level 3 [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 5 | 5 |
Fair Value, Inputs, Level 3 [Member] | Portion At Other Than Fair Value, Fair Value Disclosure [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 157 | 142 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Equity Securities Us [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 5 | 5 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Equity Securities Us [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Equity Securities Non Us [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Equity Securities Non Us [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mutual Funds -Equity [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mutual Funds -Equity [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Debt Security [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Debt Security [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Cash And Cash Equivalents [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Cash And Cash Equivalents [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Derivative [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Derivative [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Real Estate [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Real Estate [Member] | Foreign Pension Plans, Defined Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Fair Value of Selected Plan Assets | $ 157 | $ 142 |
Employee Benefit Plans (Benefit Payments) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Defined Benefit Plan Estimated Future Benefit Payments [Abstract] | |||
Compensation cost | $ 304 | $ 159 | $ 274 |
Tax benefit | 76 | $ 40 | $ 71 |
Pension Plans Defined Benefit [Member] | U.S. [Member] | |||
Defined Benefit Plan Estimated Future Benefit Payments [Abstract] | |||
2022 | 369 | ||
2023 | 185 | ||
2024 | 176 | ||
2025 | 154 | ||
2026 | 144 | ||
2027-2031 | 557 | ||
Pension Plans Defined Benefit [Member] | Foreign Pension Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Estimated Future Benefit Payments [Abstract] | |||
2022 | 152 | ||
2023 | 152 | ||
2024 | 158 | ||
2025 | 162 | ||
2026 | 164 | ||
2027-2031 | 893 | ||
Other Postretirement Benefit Plans, Defined Benefit [Member] | |||
Defined Benefit Plan Estimated Future Benefit Payments [Abstract] | |||
2022 | 21 | ||
2023 | 18 | ||
2024 | 15 | ||
2025 | 14 | ||
2026 | 12 | ||
2027-2031 | $ 44 |
Employee Benefit Plans (Severance Accrual) (Details) - Employee Severance [Member] - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Restructuring Cost and Reserve [Line Items] | |||
Balance at beginning of period | $ 24 | $ 23 | $ 48 |
Accruals | 170 | 14 | (1) |
Benefit payments | (116) | (13) | (24) |
Balance at end of period | 78 | $ 24 | $ 23 |
Short term supplemental unemployment benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Balance at end of period | $ 43 |
Employee Benefit Plans (Compensation Expense) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Employee Benefit Plans [Abstract] | |||
Compensation cost | $ 304 | $ 159 | $ 274 |
Tax benefit | $ 76 | $ 40 | $ 71 |
Employee Benefit Plans (Stock Option Activity) (Details) $ / shares in Units, $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2021
USD ($)
$ / shares
shares
| |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding [Roll Forward] | |
Outstanding at December 31 | shares | 16,922,525 |
Exercised | shares | (3,846,361) |
Expired or cancelled | shares | (1,102,381) |
Outstanding at December 31 | shares | 11,973,783 |
Stock option, Vested | shares | 11,973,783 |
Stock option, Exercisable at End of Year | shares | 11,973,783 |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price Rollforward | |
Outstanding at December 31 | $ / shares | $ 55.12 |
Weighted-Average Exercise Price, exercised | $ / shares | 51.40 |
Weighted-Average Exercise Price, expired or canceled | $ / shares | 53.47 |
Outstanding at December 31 | $ / shares | 56.46 |
Weighted-Average Exercise Price, Vested | $ / shares | 56.46 |
Weighted-Average Exercise Price, Exercisable | $ / shares | $ 56.46 |
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures [Abstract] | |
Outstanding at December 31 | $ | $ 22 |
Aggregate Intrinsic Value, exercised | $ | 68 |
Outstanding at December 31 | $ | 188 |
Aggregate Intrinsic Value, vested | $ | 188 |
Aggregate Intrinsic Value, exercisable | $ | $ 188 |
Employee Benefit Plans (Restricted Stock Unit and Performance Share Program Activity) (Details) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Restricted Stock Units R S U [Member] | Segment Discontinued Operations [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | |||
Outstanding at December 31 | 970,099 | ||
Stock Units, Granted | 797,704 | ||
Stock Units, Forfeited / Cancelled | (1,948) | ||
Stock Units, Issued | (149,488) | ||
Outstanding at December 31 | 1,616,367 | 970,099 | |
Stock Units, Not Vested at End of Year | 695,958 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value [Roll Forward] | |||
Outstanding at December 31 | $ 47.78 | ||
Weighted-Average Grant-Date Fair Value, Granted | 46.43 | $ 51.46 | $ 63.58 |
Weighted-Average Grant-Date Fair Value, Forfeited / Cancelled | 27.80 | ||
Weighted-Average Grant-Date Fair Value, Issued | 46.80 | ||
Outstanding at December 31 | 47.24 | $ 47.78 | |
Weighted-Average Grant-Date Not Vested, ending of year | $ 45.87 | ||
Total Fair Value, Issued | $ 8,000,000 | $ 6,000,000 | $ 11,000,000 |
Employee Benefit Plans Additional Textual [Abstract] | |||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 20,000,000 | ||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition 1 | 1 year 5 months 15 days | ||
Total Fair Value, Issued | $ 8,000,000 | $ 6,000,000 | $ 11,000,000 |
R S U Stock Settled Share [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | |||
Outstanding at December 31 | 6,431,985 | ||
Stock Units, Granted | 4,590,103 | ||
Stock Units, Forfeited / Cancelled | (566,047) | ||
Stock Units, Issued | (2,810,730) | ||
Outstanding at December 31 | 7,645,311 | 6,431,985 | |
Stock Units, Not Vested at End of Year | 5,509,133 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value [Roll Forward] | |||
Outstanding at December 31 | $ 58.94 | ||
Weighted-Average Grant-Date Fair Value, Granted | 46.56 | $ 57.40 | $ 67.77 |
Weighted-Average Grant-Date Fair Value, Forfeited / Cancelled | 48.59 | ||
Weighted-Average Grant-Date Fair Value, Issued | 54.74 | ||
Outstanding at December 31 | 53.81 | $ 58.94 | |
Weighted-Average Grant-Date Not Vested, ending of year | $ 53.81 | ||
Total Fair Value, Issued | $ 144,000,000 | $ 143,000,000 | $ 225,000,000 |
Employee Benefit Plans Additional Textual [Abstract] | |||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 126,000,000 | ||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition 1 | 1 year 8 months 1 day | ||
Total Fair Value, Issued | $ 144,000,000 | $ 143,000,000 | $ 225,000,000 |
R S U Cash Settled [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | |||
Outstanding at December 31 | 614,615 | ||
Stock Units, Granted | 11,186 | ||
Stock Units, Forfeited / Cancelled | (2,927) | ||
Stock Units, Issued | (396,398) | ||
Outstanding at December 31 | 226,476 | 614,615 | |
Stock Units, Not Vested at End of Year | 59,443 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value [Roll Forward] | |||
Outstanding at December 31 | $ 39.95 | ||
Weighted-Average Grant-Date Fair Value, Granted | 57.19 | $ 41.59 | $ 68.20 |
Weighted-Average Grant-Date Fair Value, Forfeited / Cancelled | 51.43 | ||
Weighted-Average Grant-Date Fair Value, Issued | 50.75 | ||
Outstanding at December 31 | 72.18 | $ 39.95 | |
Weighted-Average Grant-Date Not Vested, ending of year | $ 72.18 | ||
Total Fair Value, Issued | $ 20,000,000 | $ 6,000,000 | |
Employee Benefit Plans Additional Textual [Abstract] | |||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | 0 | ||
Total Fair Value, Issued | $ 20,000,000 | $ 6,000,000 | |
P S U Stock Settled [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | |||
Outstanding at December 31 | 1,736,728 | ||
Stock Units, Issued | (287,881) | ||
Outstanding at December 31 | 1,448,847 | 1,736,728 | |
Stock Units, Not Vested at End of Year | 3,191 | ||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value [Roll Forward] | |||
Outstanding at December 31 | $ 50.56 | ||
Weighted-Average Grant-Date Fair Value, Granted | $ 58.61 | $ 68.90 | |
Weighted-Average Grant-Date Fair Value, Issued | 49.91 | ||
Outstanding at December 31 | 50.69 | $ 50.56 | |
Weighted-Average Grant-Date Not Vested, ending of year | $ 48.61 | ||
Total Fair Value, Issued | $ 18,000,000 | $ 13,000,000 | $ 25,000,000 |
Employee Benefit Plans Additional Textual [Abstract] | |||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | 0 | ||
Total Fair Value, Issued | $ 18,000,000 | $ 13,000,000 | $ 25,000,000 |
P S U Cash Settled Program [Member] | |||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | |||
Outstanding at December 31 | 124,529 | ||
Stock Units, Granted | 1,073,228 | ||
Stock Units, Forfeited / Cancelled | (1,080,078) | ||
Outstanding at December 31 | 117,679 | 124,529 | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value [Roll Forward] | |||
Outstanding at December 31 | $ 39.95 | ||
Weighted-Average Grant-Date Fair Value, Granted | 46.65 | $ 58.61 | $ 68.90 |
Weighted-Average Grant-Date Fair Value, Forfeited / Cancelled | 48.13 | ||
Outstanding at December 31 | $ 72.18 | $ 39.95 | |
Total Fair Value, Issued | $ 52,000,000 | $ 116,000,000 | $ 171,000,000 |
Employee Benefit Plans Additional Textual [Abstract] | |||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | 0 | ||
Total Fair Value, Issued | $ 52,000,000 | $ 116,000,000 | $ 171,000,000 |
Income Taxes (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Jan. 31, 2022 |
Dec. 02, 2019 |
Dec. 31, 2018 |
|
Income Taxes [Abstract] | |||||||
Interest and penalties (benefiting) charging earnings | $ 1 | $ 4 | $ 3 | ||||
Undistributed Earnings Of Foreign Subsidiaries | $ 4,384 | 4,384 | |||||
Unrecognized Tax Benefits That Would Impact Effective Tax Rate | 1,261 | 1,261 | 1,128 | 1,100 | |||
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued | 47 | 47 | 46 | 42 | |||
Income Taxes Information [Line Items] | |||||||
Net deferred tax assets | 4,588 | 4,588 | 4,666 | 151 | |||
Deferred income taxes | 6,179 | 6,179 | 3,747 | ||||
U.S. foreign tax credits | 5,500 | 5,500 | $ 6,642 | ||||
Estimated tax payable on undistributed unremitted foreign income | 219 | ||||||
Unrecognized tax benefit | 1,345 | 1,345 | 1,206 | 1,177 | $ 1,081 | ||
Income tax provision (benefit) | 4,633 | (485) | 2,267 | ||||
Increase (decrease) in valuation allowance | 6,642 | ||||||
Disposition CVE Common Shares [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
Increase (decrease) in valuation allowance | 218 | ||||||
Impairment Of APLNG Investment [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
Increase (decrease) in valuation allowance | 206 | ||||||
Disposition Of Indonesia Entities [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
U.S. foreign tax credits | 29 | 29 | |||||
Sale Of Two U.K. Subsidiaries [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
Gain on disposition | 1,700 | ||||||
Income tax provision (benefit) | 335 | ||||||
Capital loss tax benefit | 2,100 | ||||||
U.S. income tax benefit | 285 | ||||||
Sale Of Two U.K. Subsidiaries [Member] | Malaysia Block G [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
Income tax provision (benefit) | $ 164 | ||||||
Subsequent Event [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
Unrecognized tax benefit | $ 475 | ||||||
Certain Jurisdictions Outside Of Domestic [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
Operating loss carryforwards | 1,900 | 1,900 | |||||
Australia West [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
Reversal of deferred tax assets | 92 | ||||||
Gain on disposition | 587 | ||||||
Income tax provision (benefit) | (10) | ||||||
Capital loss tax benefit | 313 | ||||||
Increase (decrease) in valuation allowance | 178 | ||||||
Concho Resources Incorporated [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
Reversal of deferred tax assets | (1,100) | ||||||
Noncurrent Assets [Member] | |||||||
Income Taxes Information [Line Items] | |||||||
Net deferred tax assets | $ 340 | $ 340 | $ 363 |
Income Taxes (Components of provision) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Federal | |||
Current | $ 32 | $ 3 | $ 18 |
Deferred | 1,161 | (625) | (113) |
Foreign | |||
Current | 3,128 | 350 | 2,545 |
Deferred | 66 | (70) | (323) |
State and local | |||
Current | 127 | (4) | 148 |
Deferred | 119 | (139) | (8) |
Income tax provision | $ 4,633 | $ (485) | $ 2,267 |
Income Taxes (Components of deferred tax liabilties and assets) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
---|---|---|---|---|
Deferred Tax Liabilities | ||||
Properties, plants and equipment, and intangibles | $ 10,170 | $ 7,744 | ||
Inventory | 44 | 64 | ||
Other | 213 | 242 | ||
Total deferred tax liabilities | 10,427 | 8,050 | ||
Deferred Tax Assets | ||||
Benefit plan accruals | 321 | 540 | ||
Asset retirement obligations and accrued environmental costs | 2,297 | 2,262 | ||
Investments in joint ventures (Asset) | 1,684 | 1,653 | ||
Other financial accruals and deferrals | 827 | 907 | ||
Loss and credit carryforwards | 7,402 | 8,904 | ||
Other | 399 | 365 | ||
Total deferred tax assets | 12,930 | 14,631 | ||
Less valuation allowance | (8,342) | (9,965) | $ (10,214) | $ (3,040) |
Net deferred tax assets | 4,588 | 4,666 | $ 151 | |
Total deferred tax liabilities | $ 5,839 | $ 3,384 |
Income Taxes (Reconciliation of Deferred Tax Asset Valuation Allowance) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Income Taxes [Abstract] | |||
Beginning balance | $ 9,965 | $ 10,214 | $ 3,040 |
Deferred Tax Asset, Valuation Allowance, Charged To Expense | 45 | (460) | 225 |
Deferred Tax Assets, Valuation Allowance, Other | (1,578) | (709) | 7,399 |
Ending balance | $ 8,342 | $ 9,965 | $ 10,214 |
Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Reconciliation of the beginning and ending unrecognized tax benefits | |||
Balance at January 1 | $ 1,206 | $ 1,177 | $ 1,081 |
Additions based on tax positions related to the current year | 15 | 6 | 9 |
Additions for tax positions of prior years | 177 | 67 | 120 |
Reductions for tax positions of prior years | (5) | (34) | (22) |
Settlements | 0 | (9) | (9) |
Lapse of statute | (48) | (1) | (2) |
Balance at December 31 | $ 1,345 | $ 1,206 | $ 1,177 |
Income Taxes (U.S. and foreign income (loss) from continuing operations before income taxes) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Income (loss) before income taxes, Income Tax Reconciliation [Abstract] | |||
Income (loss) before taxes - United States | $ 8,024 | $ (3,587) | $ 4,704 |
Income Loss Before Income Taxes Foreign | 4,688 | 447 | 4,820 |
Income (loss) before income taxes | 12,712 | (3,140) | 9,524 |
Federal statutory income tax | 2,670 | (659) | 2,000 |
Non-U.S. effective tax rates | 1,915 | 194 | 1,399 |
Tax impact of debt restructuring | 75 | 0 | 0 |
Australia disposition | 0 | (349) | 0 |
U.K. disposition | 0 | 0 | (732) |
Recovery of outside basis | (55) | (22) | (77) |
Adjustment to tax reserves | (11) | 18 | 9 |
Adjustment to valuation allowances | (45) | 460 | (225) |
State income tax | 194 | (112) | 123 |
Malaysia Deepwater Incentive | 0 | 0 | (164) |
Enhanced oil recovery credit | (99) | (6) | (27) |
Other | (11) | (9) | (39) |
Income tax provision | $ 4,633 | $ (485) | $ 2,267 |
Income (loss) before income taxes, Percent of Pretax Income | 63.10% | 114.20% | 49.40% |
Income (loss) before income taxes, foregin, Percentage | 36.90% | (14.20%) | 50.60% |
Income (Loss) Before Income Taxes In Percent | 100.00% | 100.00% | 100.00% |
Federal statutory rate percentage | 21.00% | 21.00% | 21.00% |
Non US effective tax rates percentage | 15.10% | (6.20%) | 14.70% |
Tax legislation, percentage | 0.60% | 0.00% | 0.00% |
Australia disposition, percentage | 0.00% | 11.10% | 0.00% |
U.K. disposition, percentage | 0.00% | 0.00% | (7.70%) |
Recovery of outside basis, percentage | (0.40%) | 0.70% | (0.80%) |
Adjustment to tax reserves, Percentage | (0.10%) | (0.60%) | 0.10% |
Adjustment to valuation allowances | (0.40%) | (14.60%) | (2.40%) |
State income tax, percentage | 1.50% | 3.60% | 1.30% |
Malaysia Deepwater Tax Credits Incentive, Percentage | 0.00% | 0.00% | (1.70%) |
Enhanced oil recovery, percentage | (0.80%) | 0.20% | (0.30%) |
Other, percentage | (0.10%) | 0.30% | (0.40%) |
Effective Income Tax Rate, Continuing Operations | 36.40% | 15.50% | 23.80% |
Accumulated Other Comprehensive Loss (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Other comprehensive income loss, foreign currency translation | $ (124) | $ 212 | $ 695 |
UK Subsidiaries [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Other comprehensive income loss, foreign currency translation | $ 483 |
Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Loss in the Equity Section of the Balance Sheet) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | $ 29,849 | $ 32,064 | |
Ending Balance | 45,406 | $ 29,849 | |
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | 35,050 | ||
Ending Balance | 35,050 | ||
Accounting Standards Update 201802 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | 0 | ||
Ending Balance | 0 | ||
Accum Other Comprehensive Income (Loss) [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (5,218) | (6,063) | |
Other comprehensive income (loss) | 268 | 139 | 746 |
Ending Balance | (4,950) | (5,218) | |
Accum Other Comprehensive Income (Loss) [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (5,357) | ||
Ending Balance | (5,357) | ||
Accum Other Comprehensive Income (Loss) [Member] | Accounting Standards Update 201802 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (40) | ||
Ending Balance | (40) | ||
Defined Benefit Plans [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (425) | (361) | |
Other comprehensive income (loss) | 394 | (75) | 51 |
Ending Balance | (31) | (425) | |
Defined Benefit Plans [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (350) | ||
Ending Balance | (350) | ||
Defined Benefit Plans [Member] | Accounting Standards Update 201802 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | 0 | ||
Ending Balance | 0 | ||
Net Unrealized Gain/(Loss) on Securities [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | 2 | 0 | |
Other comprehensive income (loss) | (2) | 2 | 0 |
Ending Balance | 0 | 2 | |
Net Unrealized Gain/(Loss) on Securities [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | 0 | ||
Ending Balance | 0 | ||
Net Unrealized Gain/(Loss) on Securities [Member] | Accounting Standards Update 201802 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | 0 | ||
Ending Balance | 0 | ||
Foreign Currency Translation [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (4,795) | (5,702) | |
Other comprehensive income (loss) | (124) | 212 | 695 |
Ending Balance | $ (4,919) | (4,795) | |
Foreign Currency Translation [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | (5,007) | ||
Ending Balance | (5,007) | ||
Foreign Currency Translation [Member] | Accounting Standards Update 201802 [Member] | Cumulative Effect Period Of Adoption Adjustment [Member] | |||
Accumulated Other Comprehensive Income Loss [Line Items] | |||
Beginning Balance | $ (40) | ||
Ending Balance | $ (40) |
Accumulated Other Comprehensive Income (Loss) (Items Reclassified out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Accumulated Other Comprehensive Loss [Abstract] | ||
Defined Benefit Plans | $ (109) | $ (72) |
Tax expense of defined benefit plans | $ 31 | $ 13 |
Cash Flow Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Cash Flow Information [Abstract] | |||
Increase (decrease) in PP&E related to an increase (decrease) in asset retirement obligations | $ 442 | $ (116) | $ 205 |
Cash Payments | |||
Interest | 924 | 785 | 810 |
Income taxes | 856 | 905 | 2,905 |
Net Sales (Purchases) of Investments | |||
Short-term investments purchased | (5,554) | (12,435) | (4,902) |
Short-term investments sold | 8,810 | 12,015 | 2,138 |
Investments and long-term investments purchased | (279) | (325) | (146) |
Investments and long-term investments sold | 114 | 87 | 0 |
Net Sales (Purchases) of Investments | 3,091 | $ (658) | (2,910) |
Conoco Phillips Vs Petroleos De Venezuela S A M [Member] | |||
Loss Contingencies [Line Items] | |||
Cash Proceeds from Legal Settlements | 330 | ||
U.S. [Member] | |||
Business Acquisition [Line Items] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 297 | ||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 297 | ||
United Kingdom [Member] | |||
Business Acquisition [Line Items] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 324 | ||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 324 |
Other Financial Information (Other Financial Information) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Incurred | |||
Debt | $ 887 | $ 788 | $ 799 |
Other | 59 | 73 | 36 |
Interest Costs Incurred, Total | 946 | 861 | 835 |
Capitalized | (62) | (55) | (57) |
Expensed | 884 | 806 | 778 |
Other Income (Loss) | |||
Interest income | 33 | 100 | 166 |
Gain (loss) on investment in Cenovus Energy | 1,040 | (855) | 649 |
Other, net | 130 | 246 | 543 |
Other nonoperating income (expense) | 1,203 | (509) | 1,358 |
Research and development expenditures - expensed | 62 | 75 | 82 |
Production and operating expenses | 5,694 | 4,344 | 5,322 |
Shipping And Handling [Member] | |||
Other Income (Loss) | |||
Production and operating expenses | 1,047 | 857 | 1,008 |
Operating Segments [Member] | |||
Other Income (Loss) | |||
Foreign currency transaction gain loss after tax | (16) | (62) | 58 |
Alaska [Member] | Operating Segments [Member] | |||
Other Income (Loss) | |||
Interest income | 0 | 0 | 0 |
Foreign currency transaction gain loss after tax | 0 | 0 | 0 |
Lower 48 Segment | Operating Segments [Member] | |||
Other Income (Loss) | |||
Foreign currency transaction gain loss after tax | 0 | 0 | 0 |
Canada Segment [Member] | Operating Segments [Member] | |||
Other Income (Loss) | |||
Foreign currency transaction gain loss after tax | (1) | (7) | 5 |
Europe And North Africa Segment [Member] | Operating Segments [Member] | |||
Other Income (Loss) | |||
Foreign currency transaction gain loss after tax | (11) | (15) | 0 |
Europe, Middle East and North Africa [Member] | Operating Segments [Member] | |||
Other Income (Loss) | |||
Interest income | 2 | 5 | 11 |
Foreign currency transaction gain loss after tax | 2 | (11) | 31 |
Asia Pacific [Member] | Operating Segments [Member] | |||
Other Income (Loss) | |||
Interest income | 9 | 7 | 6 |
Foreign currency transaction gain loss after tax | 1 | 2 | 1 |
Other International [Member] | Operating Segments [Member] | |||
Other Income (Loss) | |||
Interest income | 0 | 0 | 0 |
Foreign currency transaction gain loss after tax | $ (7) | $ (31) | $ 21 |
Other Financial Information (Property Plant And Equipment) (Details) - USD ($) $ in Millions |
Dec. 31, 2021 |
Jan. 15, 2021 |
Dec. 31, 2020 |
---|---|---|---|
Capitalized costs, proved properties | $ 114,274 | $ 94,312 | |
Capitalized costs, unproved properties | 10,993 | 4,141 | |
Other | 4,379 | 3,653 | |
Gross properties, plants and equipment | 129,646 | 102,106 | |
Accumulated DD&A | (64,735) | (62,213) | |
Property, plant and equipment, net | 64,911 | $ 39,893 | |
Concho Resources Incorporated [Member] | |||
Capitalized costs, proved properties | 20,000 | $ 11,800 | |
Capitalized costs, unproved properties | $ 6,900 | $ 6,900 |
Related Party Transactions (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Significant transactions with related parties | |||
Operating revenues and other income | $ 88 | $ 79 | $ 89 |
Purchases | 5 | 0 | 38 |
Operating expenses and selling, general and administrative expenses | 196 | 63 | 65 |
Net interest income | $ (2) | $ (5) | $ (13) |
Sales and Other Operating Revenues (Revenue from Contracts with Customers) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Revenue from contracts with customers | $ 45,828 | $ 18,784 | $ 32,567 |
Revenue, Performance Obligation, Description of Payment Terms | Payment is typically due within 30 days or less. | ||
Customers within the scope of ASC Topic 606 [Member] | |||
Revenue from contracts with customers | $ 34,590 | 13,662 | 26,106 |
Physical gas contracts [Member] | |||
Revenue from contracts with customers | 11,500 | 5,177 | 6,558 |
Crude oil product line [Member] | |||
Revenue from contracts with customers | 757 | 395 | 804 |
Natural Gas Product Line [Member] | |||
Revenue from contracts with customers | 10,034 | 4,339 | 5,313 |
Other Products [Member] | |||
Revenue from contracts with customers | 709 | 443 | 441 |
Financial Derivative Contracts [Member] | |||
Revenue from contracts with customers | (262) | (55) | (97) |
Lower 48 Segment | Physical gas contracts [Member] | |||
Revenue from contracts with customers | 9,050 | 3,966 | 4,989 |
Canada Segment [Member] | Physical gas contracts [Member] | |||
Revenue from contracts with customers | 1,457 | 727 | 691 |
Europe, Middle East and North Africa [Member] | |||
Revenue from contracts with customers | 5,902 | 1,919 | 5,101 |
Europe, Middle East and North Africa [Member] | Physical gas contracts [Member] | |||
Revenue from contracts with customers | $ 993 | $ 484 | $ 878 |
Sales and Other Operating Revenues (Practical Expedients) (Details) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
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. |
Practical Expedient | true |
Sales and Other Operating Revenues (Receivables and Contract Liabilities) (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
|
Accounts Receivable, Net | $ 5,268 | $ 1,827 |
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 | We have entered into contractual arrangements where we license proprietary technology to customers related to the optimization process for operating LNG plants. The agreements 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. | |
Revenue, Performance Obligation, Description of Payment Terms | Payment is typically due within 30 days or less. | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation | We expect to recognize the contract liabilities as of December 31, 2021, as revenue during 2022. | |
Change in Contract with Customer, Liability [Abstract] | ||
Contract Liabilities, Beginning Balance | $ 97 | |
Contractual payments received | 15 | |
Revenue recognized | (62) | |
Contract Liabilities, Ending Balance | 50 | |
Contract with Customer Liability [Abstract] | ||
Current liabilities | $ 50 | $ 97 |
Segment Disclosures and Related Information (Narrative) (Details) |
12 Months Ended |
---|---|
Dec. 31, 2021 | |
Segment Disclosures and Related Information [Abstract] | |
Number of Operating Segments | 6 |
Segment Disclosures and Related Information (Sales and Other Operating Revenues) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | $ 45,828 | $ 18,784 | $ 32,567 |
Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 45,828 | 18,784 | 32,567 |
Corporate, Non-Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 75 | 18 | 221 |
Alaska [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 5,480 | 3,408 | 5,483 |
Alaska [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 5,480 | 3,397 | 5,483 |
Alaska [Member] | Intersegment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 0 | (11) | 0 |
Lower 48 [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 29,306 | 9,872 | 15,514 |
Lower 48 [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 29,294 | 9,821 | 15,468 |
Lower 48 [Member] | Intersegment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | (12) | (51) | (46) |
Canada [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 4,077 | 1,666 | 2,910 |
Canada [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 2,494 | 1,261 | 1,769 |
Canada [Member] | Intersegment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | (1,583) | (405) | (1,141) |
Europe, Middle East and North Africa [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 5,902 | 1,919 | 5,101 |
Europe, Middle East and North Africa [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 5,902 | 1,917 | 5,101 |
Europe, Middle East and North Africa [Member] | Intersegment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 0 | (2) | 0 |
Asia Pacific [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 2,579 | 2,363 | 4,525 |
Other International [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | $ 4 | $ 7 | $ 0 |
Segment Disclosures and Related Information (Depreciation, Depletion, Amortization and Impairments, Equity in Earnings of Affiliates and Income Tax Provision (Benefit)) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Segment Reporting Information [Line Items] | |||
Depreciation, depletion, amortization and impairments | $ 7,882 | $ 6,334 | $ 6,495 |
Equity in earnings of affiliates | 832 | 432 | 779 |
Income tax provision (benefit) | 4,633 | (485) | 2,267 |
Alaska [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation, depletion, amortization and impairments | 1,002 | 996 | 805 |
Equity in earnings of affiliates | 5 | (7) | 7 |
Income tax provision (benefit) | 402 | (256) | 472 |
Lower 48 [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation, depletion, amortization and impairments | 4,067 | 3,358 | 3,224 |
Equity in earnings of affiliates | (18) | (11) | (159) |
Income tax provision (benefit) | 1,390 | (378) | 137 |
Canada [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation, depletion, amortization and impairments | 392 | 342 | 232 |
Equity in earnings of affiliates | 0 | 0 | 0 |
Income tax provision (benefit) | 150 | (185) | (43) |
Europe, Middle East and North Africa [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation, depletion, amortization and impairments | 862 | 775 | 887 |
Equity in earnings of affiliates | 502 | 311 | 470 |
Income tax provision (benefit) | 2,543 | 136 | 1,425 |
Asia Pacific [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation, depletion, amortization and impairments | 1,483 | 809 | 1,285 |
Equity in earnings of affiliates | 343 | 137 | 461 |
Income tax provision (benefit) | 483 | 294 | 501 |
Other International [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation, depletion, amortization and impairments | 0 | 0 | 0 |
Equity in earnings of affiliates | 0 | 2 | 0 |
Income tax provision (benefit) | (53) | (20) | 8 |
Corporate and Other [Member] | Corporate, Non-Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation, depletion, amortization and impairments | 76 | 54 | 62 |
Equity in earnings of affiliates | 0 | 0 | 0 |
Income tax provision (benefit) | $ (282) | $ (76) | $ (233) |
Segment Disclosures and Related Information (Net Income (Loss) Attributable to ConocoPhillips, Investments In and Advances To Affiliates and Total Assets) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Segment Reporting Information [Line Items] | |||
Consolidated net income (loss) attributable to ConocoPhillips | $ 8,079 | $ (2,701) | $ 7,189 |
Investments in and advances to affiliates | 6,701 | 7,710 | 8,453 |
Total Assets | 90,661 | 62,618 | 70,514 |
Alaska [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated net income (loss) attributable to ConocoPhillips | 1,386 | (719) | 1,520 |
Investments in and advances to affiliates | 58 | 62 | 83 |
Total Assets | 14,812 | 14,623 | 15,453 |
Lower 48 [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated net income (loss) attributable to ConocoPhillips | 4,932 | (1,122) | 436 |
Investments in and advances to affiliates | 242 | 25 | 35 |
Total Assets | 41,699 | 11,932 | 14,425 |
Canada [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated net income (loss) attributable to ConocoPhillips | 458 | (326) | 279 |
Investments in and advances to affiliates | 0 | 0 | 0 |
Total Assets | 7,439 | 6,863 | 6,350 |
Europe, Middle East and North Africa [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated net income (loss) attributable to ConocoPhillips | 1,167 | 448 | 3,170 |
Investments in and advances to affiliates | 797 | 918 | 1,070 |
Total Assets | 9,125 | 8,756 | 9,269 |
Asia Pacific [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated net income (loss) attributable to ConocoPhillips | 453 | 962 | 1,483 |
Investments in and advances to affiliates | 5,603 | 6,705 | 7,265 |
Total Assets | 9,840 | 11,231 | 13,568 |
Other International [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated net income (loss) attributable to ConocoPhillips | (107) | (64) | 263 |
Investments in and advances to affiliates | 1 | 0 | 0 |
Total Assets | 1 | 226 | 285 |
Corporate and Other [Member] | Corporate, Non-Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated net income (loss) attributable to ConocoPhillips | (210) | (1,880) | 38 |
Investments in and advances to affiliates | 0 | 0 | 0 |
Total Assets | $ 7,745 | $ 8,987 | $ 11,164 |
Segment Disclosures and Related Information (Capital Expenditures and Investments and Interest Income and Expense) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Segment Reporting Information [Line Items] | |||
Consolidated capital expenditures and investments | $ 5,324 | $ 4,715 | $ 6,636 |
Interest income | 33 | 100 | 166 |
Interest and debt expense | 884 | 806 | 778 |
Alaska [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated capital expenditures and investments | 982 | 1,038 | 1,513 |
Interest income | 0 | 0 | 0 |
Lower 48 [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated capital expenditures and investments | 3,129 | 1,881 | 3,394 |
Interest income | 0 | 0 | 0 |
Canada [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated capital expenditures and investments | 203 | 651 | 368 |
Interest income | 0 | 0 | 0 |
Europe, Middle East and North Africa [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated capital expenditures and investments | 534 | 600 | 708 |
Interest income | 2 | 5 | 11 |
Asia Pacific [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated capital expenditures and investments | 390 | 384 | 584 |
Interest income | 9 | 7 | 6 |
Other International [Member] | Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated capital expenditures and investments | 33 | 121 | 8 |
Interest income | 0 | 0 | 0 |
Corporate and Other [Member] | Corporate, Non-Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Consolidated capital expenditures and investments | 53 | 40 | 61 |
Interest income | 22 | 88 | 149 |
Interest and debt expense | $ 884 | $ 806 | $ 778 |
Segment Disclosures and Related Information (Sales and Other Operating Revenues by Product) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | $ 45,828 | $ 18,784 | $ 32,567 |
Natural Gas [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 16,904 | 6,427 | 8,715 |
Natural Gas Liquids Reserves [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 1,668 | 528 | 814 |
Crude Oil [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | 23,648 | 9,736 | 18,482 |
Other Products [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenues | $ 3,608 | $ 2,093 | $ 4,556 |
Segment Disclosures and Related Information (Geographic Information) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2019 |
|
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | $ 45,828 | $ 18,784 | $ 32,567 |
Long-Lived Assets | 71,612 | 47,603 | 50,722 |
U.S. [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 34,847 | 13,230 | 21,159 |
Long-Lived Assets | 50,580 | 24,034 | 26,566 |
Australia [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 605 | 1,647 | |
Long-Lived Assets | 5,579 | 6,676 | 7,228 |
Canada [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 2,494 | 1,261 | 1,769 |
Long-Lived Assets | 6,608 | 6,385 | 5,769 |
China | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 724 | 460 | 772 |
Long-Lived Assets | 1,476 | 1,491 | 1,447 |
Indonesia | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 879 | 689 | 875 |
Long-Lived Assets | 28 | 464 | 605 |
Libya [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 1,102 | 155 | 1,103 |
Long-Lived Assets | 659 | 670 | 668 |
Malaysia | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 975 | 610 | 1,230 |
Long-Lived Assets | 1,252 | 1,501 | 1,871 |
Norway | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 2,563 | 1,426 | 2,349 |
Long-Lived Assets | 4,681 | 5,294 | 5,258 |
United Kingdom [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 2,236 | 336 | 1,649 |
Long-Lived Assets | 1 | 1 | 2 |
Other foreign Countries | |||
Segment Reporting Information [Line Items] | |||
Revenue from contracts with customers | 8 | 12 | 14 |
Long-Lived Assets | $ 748 | $ 1,087 | $ 1,308 |
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