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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net income $ 633 $ 1,259
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
(Gains) losses on asset sales, net 0 (25)
Depreciation, depletion and amortization 988 728
Impairment and other 82 0
Exploratory dry hole costs 93 0
Exploration lease impairment 13 10
Pension settlement loss 0 2
Stock compensation expense 53 49
Noncash (gains) losses on commodity derivatives, net 52 218
Provision for deferred income taxes and other tax accruals 92 174
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (14) (529)
(Increase) decrease in inventories (61) (94)
Increase (decrease) in accounts payable and accrued liabilities (119) 100
Increase (decrease) in taxes payable 22 (387)
Changes in other operating assets and liabilities (222) (152)
Net cash provided by (used in) operating activities 1,612 1,353 Close
Cash Flows From Investing Activities    
Additions to property, plant and equipment - E&P (1,551) (1,098)
Additions to property, plant and equipment - Midstream (107) (111)
Proceeds from asset sales, net of cash sold 0 28
Other, net 4 0
Net cash provided by (used in) investing activities (1,662) (1,181) Close
Cash Flows From Financing Activities    
Net borrowings (repayments) of debt with maturities of 90 days or less 180 (13)
Debt with maturities of greater than 90 days – Borrowings 0 400
Debt with maturities of greater than 90 days - Repayments 0 (510)
Cash dividends paid (271) (235)
Payments for Repurchase of Common Stock (20) (190)
Proceeds from sale of Class A shares of Hess Midstream LP 167 146
Noncontrolling interests, net (263) (351)
Employee stock options exercised 4 40
Payments on finance lease obligations (4) (4)
Other, net (3) (9)
Net cash provided by (used in) financing activities (210) (726) Close
Net Increase (Decrease) in Cash and Cash Equivalents (260) (554) Close
Cash and Cash Equivalents at Beginning of Year 2,486 2,713
Cash and Cash Equivalents at End of Period $ 2,226 $ 2,159