What is ConocoPhillips's lower 48 — severance expense?

ConocoPhillips (COP) reported lower 48 — severance expense of $21.75M in Q4 2025.

What does lower 48 — severance expense mean?

Expenses related to employee layoffs or restructuring within the Lower 48 segment.

How do you interpret lower 48 — severance expense?

High expenses indicate significant restructuring, which may lead to future cost savings.

How does lower 48 — severance expense compare across companies?

Commonly reported as 'Restructuring Costs' or 'Severance Charges' in segment operating expenses.

ConocoPhillips COP Lower 48 — Severance expense

Other segment segments

Corporate

$72M—

Europe, Middle East and North Africa

$48M—

Alaska

$43M—

Canada

$29M—

Asia Pacific

$7M—

Similar metrics at other companies

IPCorporate Segment — Severance costs

$15.25M—

SBUXNorth America — Employee severance, separation costs, and other

-$6.4M-125%

SBUXCorporate and Other — Employee severance, separation costs, and other

$11.1M-71.2%

FISEnterprise Cost Control Initiatives and Changes in Senior Management — Severance costs

$27M-54.2%

CVXAll Other — Severance after tax

$10M-80.8%

ENTGCorporate Segment — Employee Termination Benefits

$400K—

Other financials

Income statement

See full

Revenue$15.8B-4.6%

Gross profit$9.5B-8.2%

Net income$2.2B-23.4%

EPS (diluted)$1.78-20.2%

Balance sheet

See full

Cash & equivalents$6.2B-5.7%

Total debt$23.3B-4.5%

Total equity$64.5B-1.1%

Total assets$122.73B-1.2%

Cash flow

See full

Operating cash flow$4.3B-29.8%

Valuation

See full

Market cap$131.26B+21.2%

Enterprise value$148.31B+18.2%

P/E17.9×+6.6×

P/S2.3×+0.4×

Profitability

See full

Gross margin61.5%-2.2pp

Net margin12.6%-4.0pp

Returns & leverage

See full

Return on equity11.3%-5.4pp

Debt / equity0.4×0.0×

Current ratio1.3×0.0×

Where this comes from

Reported directly by ConocoPhillips in its filing.

Tagged under the XBRL concept us-gaap:SeveranceCosts1.

The official record: ConocoPhillips’s 10-K, filed February 17, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is ConocoPhillips's lower 48 — severance expense?: ConocoPhillips (COP) reported lower 48 — severance expense of $21.75M in Q4 2025.
What does lower 48 — severance expense mean?: Expenses related to employee layoffs or restructuring within the Lower 48 segment.
How do you interpret lower 48 — severance expense?: High expenses indicate significant restructuring, which may lead to future cost savings.
How does lower 48 — severance expense compare across companies?: Commonly reported as 'Restructuring Costs' or 'Severance Charges' in segment operating expenses.