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CONOCOPHILLIPS

For the period ended Mar 31, 2025. Filed May 8, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 8, 2025

COP$135.59+0.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2025

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________________ to ___________________

Commission file number:001-32395

ConocoPhillips

(Exact name of registrant as specified in its charter)

Delaware01-0562944
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

925 N. Eldridge Parkway, Houston, TX 77079

(Address of principal executive offices) (Zip Code)

281-293-1000

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbolsName of each exchange on which registered
Common Stock, $.01 Par ValueCOPNew York Stock Exchange
7% Debentures due 2029CUSIP—718507BK1New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☒ Accelerated filer☐ Non-accelerated filer☐ Smaller reporting company☐

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No ☒

The registrant had 1,262,410,026 shares of common stock, $.01 par value, outstanding at March 31, 2025.

Table of Contents

Page
Commonly Used Abbreviations1
Part I—Financial Information
Item 1. Financial Statements
Consolidated Income Statement2
Consolidated Statement of Comprehensive Income3
Consolidated Balance Sheet4
Consolidated Statement of Cash Flows5
Notes to Consolidated Financial Statements6
Note 1—Basis of Presentation6
Note 2—Inventories6
Note 3—Acquisitions and Dispositions6
Note 4—Investments and Long-Term Receivables9
Note 5—Debt9
Note 6—Changes in Equity10
Note 7—Suspended Wells and Exploration Expenses10
Note 8—Guarantees11
Note 9—Contingencies, Commitments and Accrued Environmental Costs12
Note 10—Derivative and Financial Instruments15
Note 11—Fair Value Measurement19
Note 12—Accumulated Other Comprehensive Income (Loss)22
Note 13—Cash Flow Information22
Note 14—Employee Benefit Plans23
Note 15—Related Party Transactions23
Note 16—Sales and Other Operating Revenues24
Note 17—Earnings Per Share25
Note 18—Segment Disclosures and Related Information26
Note 19—Income Taxes30
Note 20—New Accounting Standards30
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations31
Item 3. Quantitative and Qualitative Disclosures About Market Risk52
Item 4. Controls and Procedures52
Part II—Other Information
Item 1. Legal Proceedings52
Item 1A. Risk Factors52
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds53
Item 5. Other Information53
Item 6. Exhibits54
Signature55
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.