Non-GAAP Reconciliation A non-GAAP reconciliation for price-normalized cash margin per barrel is included at the end of the Management’s Discussion and Analysis of Financial Condition and Results of Operations in  our 2014 Annual Report on Form 10-K, enclosed in this report. A copy of this non-GAAP reconciliation can be found at  www.conocophillips.com/nongaap . 1 Includes Kashagan, Algeria and Nigeria. 2 Total equity plus total debt. ($ Millions, except as indicated)  2014 2013  2012 Adjusted Earnings Net Income Attributable to ConocoPhillips $  6,869  9,156  8,428 Adjustments Impairments  641 269  901 Net gain on asset sales  (38) (1,075)  (1,532) Bohai Bay incidents  — —  89 Tax loss carryforward utilization  — (1)  (236) International tax law changes  — —  167 Deferred tax adjustment  (59) —  (72) FCCL IFRS depreciation adjustment  — (33)  — Loss on capacity agreements  83 —  — Separation costs  — —  84 Pension settlement expense  — 41  87 Qatar depreciation adjustment  28 —  — Tax bene fi t on interest expense  (61) —  — Pending claims and settlements  (268) (118)  (235) Premium on early debt retirement  — —  68 Freeport LNG termination agreement  545 —  — Discontinued operations—Phillips 66  — —  (1,232) Discontinued operations—Other 1 (1,131) (1,178)  217 Adjusted Earnings $  6,609  7,061  6,734 Earnings per share of common stock  (dollars) $  5.51  7.38  6.72 Adjusted earnings per share of common stock  (dollars) $  5.30  5.70  5.37 Return on Capital Employed  Numerator:  Net Income Attributable to ConocoPhillips  $  6,869  9,156  8,428 Adjustment to exclude special items  (260)   (2,095)   (1,694) Net income attributable to noncontrolling interests  69   59  70  After-tax interest expense  421  398  461 ROCE earnings  $  7,099  7,518  7,265  Denominator:  Average capital employed 2 $ 75,773  71,730  78,281  Adjustment to exclude discontinued operations   —   —   (10,928) Adjusted average capital employed  $ 75,773  71,730  67,353  ROCE  (percent) 9%  10  11 ConocoPhillips  2014 ANNUAL REPORT 13