What is ConocoPhillips's lower 48 — interest and debt expense?

ConocoPhillips (COP) reported lower 48 — interest and debt expense of $0 in Q2 2026.

What does lower 48 — interest and debt expense mean?

Represents the interest costs associated with debt obligations specifically attributed to the Lower 48 segment's capital structure or project financing. It measures the cost of capital deployed to fund the segment's exploration and development activities.

ConocoPhillips (COP) Lower 48 — Interest and Debt Expense

Screener

Other segment segments

Corporate

$182M-21.6%

Alaska Segment

$0—

Asia Pacific Operating Segment

$0—

Canada Operating Segment

$0—

EMENA

$0—

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TITNAustralia — Interest and Debt Expense

$0—

TITNConstruction — Interest and Debt Expense

$0-100%

TITNInternational — Interest and Debt Expense

-$2.57M—

PSXChemicals — Interest and Debt Expense

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PSXMidstream — Interest and Debt Expense

$0—

PSXRefining — Interest and Debt Expense

$0—

Other financials

Income statement

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Revenue$19.2B+36.8%

Gross profit$12.4B+39.6%

Net income$3.9B+99.4%

EPS (diluted)$3.23+107%

Balance sheet

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Cash & equivalents$7.0B+33.3%

Total debt$23.8B-0.6%

Total equity$65.3B-0.3%

Total assets$124.26B+1.4%

Cash flow

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Operating cash flow$7.4B+113%

CapEx$3.0B-8.9%

Free cash flow$1.3B+13.6%

Valuation

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Market cap$140.15B+19.2%

Enterprise value$156.95B+15.2%

P/E15.1×+2.3×

P/S2.2×+0.2×

Profitability

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Gross margin62%-1.5pp

Net margin14.7%-1.2pp

FCF margin12.3%-2.3pp

Returns & leverage

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Return on equity14.2%-1.8pp

Debt / equity0.4×0.0×

Current ratio1.5×+0.3×

Where this comes from

Reported directly by ConocoPhillips in its filing.

Tagged under the XBRL concept us-gaap:InterestAndDebtExpense.

The source filing: ConocoPhillips’s 10-Q, filed August 6, 2026.

Filed: Aug 6, 2026, 7:39 AM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0001163165-26-000032

Three Months Ended June 30, 2026	Millions of Dollars / Alaska	Millions of Dollars / L48	Millions of Dollars / Canada	Millions of Dollars / EMENA	Millions of Dollars / AP	Millions of Dollars / Segment Totals	Millions of Dollars / Corporate	Millions of Dollars / Consolidated Total
Other segment items
Equity in earnings of affiliates	—	—	—	(45)	(167)	(212)	(27)	(239)
Interest income	—	—	—	—	—	—	(80)	(80)
Interest and debt expense	—	—	—	—	—	—	182	182
Other**	324	6,299	457	431	148	7,659	143	7,802
Total	324	6,299	457	386	(19)	7,447	218	7,665
Net income (loss)	$522	2,584	320	346	389	4,161	(230)	3,931
#Includes revenue from physical contracts meeting the definition of a derivative that are outside the scope of ASC Topic 606 for the L48, Canada and EMENA segments of $0.5 billion, $0.1 billion and $0.4 billion, respectively.

Item 1. Financial Statements

FAQ

What is ConocoPhillips's lower 48 — interest and debt expense?: ConocoPhillips (COP) reported lower 48 — interest and debt expense of $0 in Q2 2026.
What does lower 48 — interest and debt expense mean?: Represents the interest costs associated with debt obligations specifically attributed to the Lower 48 segment's capital structure or project financing. It measures the cost of capital deployed to fund the segment's exploration and development activities.