01—Abstract
Summary
Summary of the 10-K/A filed April 1, 2010. Cited figures are marked; the original filing is the authoritative source.
ConocoPhillips (COP) filed an amendment to its 2009 10-K report on March 31, 2010, primarily to include the audited financial statements of OAO LUKOIL, as required by Rule 3-09 of Regulation S-X.
This amendment does not update the original financial statements of ConocoPhillips but provides additional, separate financial information for LUKOIL, a significant investee. Investors should note that the core financial performance and disclosures of ConocoPhillips for the year ended December 31, 2009, remain as originally filed on February 25, 2010. The included LUKOIL financial statements reveal a company with substantial assets and liabilities, operating in the oil and gas exploration, production, refining, marketing, and distribution sectors.
For the year ended December 31, 2009, LUKOIL reported revenues of $81,083 milliona and net income attributable to OAO LUKOIL of $7,011 million, a decrease from $9,144 million in 2008. The company's financial position shows total assets of $79,019 million and total liabilities of $22,640 million as of December 31, 2009. The primary purpose of this filing is to provide regulatory compliance regarding LUKOIL's financial disclosure, rather than to present new information about ConocoPhillips' own operational or financial standing.
02—Key points
Key Highlights
- This filing is an amendment (10-K/A) to the original ConocoPhillips 2009 10-K, primarily to include the audited financial statements of OAO LUKOIL under Rule 3-09 of Regulation S-X.
- The amendment does not update ConocoPhillips' own financial statements or disclosures for the year ended December 31, 2009.
- OAO LUKOIL reported revenues of $81,083 million for the year ended December 31, 2009.
- OAO LUKOIL's net income attributable to the company was $7,011 million for 2009, down from $9,144 million in 2008.
- Total assets for OAO LUKOIL were $79,019 million and total liabilities were $22,640 million as of December 31, 2009.
- The filing includes detailed consolidated financial statements for OAO LUKOIL, including balance sheets, income statements, statements of stockholders' equity and comprehensive income, and cash flows for the years ended December 31, 2009, 2008, and 2007.
- Significant investments and business combinations involving OAO LUKOIL are detailed, including acquisitions in refining and expansion in European Russia and international operations.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2009filed April 1, 2010Financial Statements
FY2009 against FY2008
| Line item | FY2009FY2008 | Change |
|---|---|---|
| Revenue | $149.34B$240.84B | −38.0% |
| R&D Expenses | $190.00M$209.00M | −9.1% |
| SG&A Expenses | $1.83B$2.23B | −17.9% |
| Operating Expenses | $41.89B— | — |
| Operating Income | $3.72B— | — |
| Interest Expense | $1.49B$1.19B | +24.9% |
| Net Income | $4.41B-$16.35B | +127.0% |
| EPS (Basic) | $2.96$-10.73 | +127.6% |
| EPS (Diluted) | $2.94$-10.73 | +127.4% |
| Shares Outstanding (Basic) | 1.49B1.52B | −2.3% |
| Shares Outstanding (Diluted) | 1.50B1.52B | −1.7% |
05—Questions
Frequently Asked Questions
What is the primary reason for this amended filing?
This amendment is filed to include the audited financial statements of OAO LUKOIL, a significant investment or affiliate, as required by SEC Regulation S-X Rule 3-09. It does not alter or update the original financial information or disclosures of ConocoPhillips itself for the 2009 fiscal year.
What are the key financial results for OAO LUKOIL as presented in this filing?
For the year ended December 31, 2009, OAO LUKOIL reported revenues of $81,083 million and a net income attributable to OAO LUKOIL of $7,011 million. As of December 31, 2009, the company had total assets of $79,019 million and total liabilities of $22,640 million.
Does this filing provide any new information about ConocoPhillips' operational performance in 2009?
No, this amended filing's purpose is solely to incorporate OAO LUKOIL's financial statements. It explicitly states that it does not update or modify any financial position, results of operations, cash flows, or disclosures of ConocoPhillips from its original 10-K filing dated February 25, 2010.
What business activities does OAO LUKOIL engage in?
OAO LUKOIL is primarily involved in oil exploration, production, refining, marketing, and distribution of crude oil and petroleum products. It operates as a vertically integrated oil company.
06—Continue