8-KEarnings & ResultsExhibits & Filings

CONOCOPHILLIPS 8-K Report, Financial Results (Jan 24, 2007)

Filed January 24, 2007For Securities:COP

Summary

ConocoPhillips filed an 8-K on January 24, 2007, to report its financial and operating results for the quarter ended December 31, 2006. The filing primarily serves to furnish a press release (Exhibit 99.1) detailing these results, along with additional financial and operational tables (Exhibit 99.2) and supplemental financial information (Exhibit 99.3). Investors should note that the company is presenting a "effective tax rate" which is a non-GAAP measure, used by management to exclude a specific charge related to UK tax legislation from the third quarter of 2006. The company believes this non-GAAP measure provides a better indicator of ongoing tax performance and aids in period-over-period comparisons.

Key Highlights

  • 1ConocoPhillips released its Q4 2006 financial and operational results on January 24, 2007.
  • 2The 8-K filing includes a press release (Exhibit 99.1) detailing the reported results.
  • 3Additional financial and operational data are provided in Exhibits 99.2 and 99.3.
  • 4The company is using a non-GAAP "effective tax rate" measure.
  • 5This non-GAAP measure excludes a specific charge from UK tax legislation in Q3 2006.
  • 6Management considers this non-GAAP rate a better indicator of ongoing tax performance.
  • 7The non-GAAP effective tax rate is presented to facilitate comparisons with prior and future periods.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose ConocoPhillips' financial and operational results for the fourth quarter ended December 31, 2006, through an accompanying press release and additional financial documents.

The "effective tax rate" is a non-GAAP financial measure used by ConocoPhillips. It is calculated by excluding a specific charge related to United Kingdom tax legislation that occurred in the third quarter of 2006. Management believes this exclusion provides a clearer view of the company's ongoing tax performance and allows for better comparisons across different periods.

The detailed financial and operational results are available in the exhibits attached to this 8-K filing. Specifically, Exhibit 99.1 is the press release, Exhibit 99.2 contains financial and operational tables, and Exhibit 99.3 provides supplemental financial information.