Business combination, consideration transferred, equity interests issued and issuable



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| Notes to Consolidated Financial Statements | [Table of Contents](#if18581573a6045f6b6e889320c9d1887_7) |

Note 13—Cash Flow Information

|  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |
|  | Millions of Dollars |
|  | Six Months EndedJune 30 |
| Cash Payments | 2022 | 2021 |
| Interest | $ | 486  |  | 464  |  |
| Income taxes | 3,942  |  | 107  |  |
|  |  |  |
| Net Sales (Purchases) of Investments |  |  |
| Short-term investments purchased | $ | (1,253) |  | (5,439) |  |
| Short-term investments sold | 613  |  | 6,842  |  |
| Long-term investments purchased | (510) |  | (149) |  |
| Long-term investments sold | 46  |  | 48  |  |
|  | $ | (1,104) |  | 1,302  |  |

  
In the first quarter of 2021, we acquired Concho in an all-stock transaction for $13.1 billion. In connection with this transaction, we acquired cash of $382 million, which is included in "Cash Flows From Investing Activities" on our consolidated statement of cash flows.  
Note 14—Employee Benefit PlansPension and Postretirement Plans

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Millions of Dollars  |
|  | Pension Benefits |  | Other Benefits |
|  | 2022 |  | 2021 |  | 2022 |  | 2021 |
|  | U.S. |  | Int'l. |  | U.S. |  | Int'l. |  |  |  |  |
| Components of Net Periodic Benefit Cost |  |  |  |  |  |  |  |  |  |  |  |
| Three Months Ended June 30 |  |  |  |  |  |  |  |  |  |  |  |
| Service cost | $ | 16  |  |  | 13  |  |  | 18  |  |  | 16  |  |  | 1  |  |  | 1 |
| Interest cost | 12  |  |  | 21  |  |  | 15  |  |  | 20  |  |  | 1  |  |  | 1  |  |
| Expected return on plan assets | (13) |  |  | (34) |  |  | (20) |  |  | (30) |  |  | —  |  |  | —  |  |
| Amortization of prior service credit | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (10) |  |  | (10) |  |
| Recognized net actuarial loss | 5  |  |  | 2  |  |  | 12  |  |  | 8  |  |  | —  |  |  | 1  |  |
| Settlements | 18  |  |  | —  |  |  | 42  |  |  | —  |  |  | —  |  |  | —  |  |
| Net periodic benefit cost | $ | 38  |  |  | 2  |  |  | 67  |  |  | 14  |  |  | (8) |  |  | (7) |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
| Six Months Ended June 30  |  |  |  |  |  |  |  |  |  |  |  |
| Service cost | $ | 32  |  |  | 26  |  |  | 39  |  |  | 31  |  |  | 1  |  |  | 1  |  |
| Interest cost | 24  |  |  | 42  |  |  | 28  |  |  | 40  |  |  | 2  |  |  | 2  |  |
| Expected return on plan assets | (26) |  |  | (68) |  |  | (44) |  |  | (60) |  |  | —  |  |  | —  |  |
| Amortization of prior service credit | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (20) |  |  | (19) |  |
| Recognized net actuarial loss | 11  |  |  | 4  |  |  | 27  |  |  | 16  |  |  | —  |  |  | 1  |  |
| Settlements | 22  |  |  | —  |  |  | 44  |  |  | —  |  |  | —  |  |  | —  |  |
| Curtailments | —  |  |  | —  |  |  | 12  |  |  | —  |  |  | —  |  |  | —  |  |
| Special Termination Benefits | —  |  |  | —  |  |  | 9  |  |  | —  |  |  | —  |  |  | —  |  |
| Net periodic benefit cost | $ | 63  |  |  | 4  |  |  | 115  |  |  | 27  |  |  | (17) |  |  | (15) |  |



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| 25 | ConocoPhillips      2022 Q2 10-Q |  |


