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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities    
Net Income $ 7,950 $ 15,431
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, depletion and amortization 6,047 5,505
Impairments 12 6
Dry hole costs and leasehold impairments 151 136
Accretion on discounted liabilities 204 182
Deferred taxes 753 1,594
Undistributed equity earnings 920 569
Gain on dispositions (200) (1,039)
Gain on investment in Cenovus Energy 0 (251)
Other 16 (38)
Working capital adjustments    
Decrease (increase) in accounts and notes receivable 1,147 (1,317)
Increase in inventories (114) (64)
Decrease (increase) in prepaid expenses and other current assets 486 (469)
Increase (decrease) in accounts payable (837) 1,098
Increase (decrease) in taxes and other accruals (1,833) 379
Net Cash Provided by Operating Activities 14,702 21,722 Close
Cash Flows From Investing Activities    
Capital expenditures and investments (8,365) (7,626)
Working capital changes associated with investing activities (175) 542
Acquisition of businesses, net of cash acquired 0 37
Proceeds from asset dispositions 613 3,354
Net sales (purchases) of investments 1,860 (2,235)
Collection of advances/loans—related parties 0 114
Other (81) 7
Net Cash Used in Investing Activities (6,148) (5,807) Close
Cash Flows From Financing Activities    
Issuance of debt 3,787 2,897
Repayment of debt (1,243) (5,874)
Issuance of company common stock (57) 345
Repurchase of company common stock (4,300) (6,524)
Dividends paid (4,175) (3,336)
Other (34) (53)
Net Cash Used in Financing Activities (6,022) (12,545) Close
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (150) (452) Close
Net Change in Cash, Cash Equivalents and Restricted Cash 2,382 2,918 Close
Cash, cash equivalents and restricted cash at beginning of period [1] 6,694 5,398
Cash, Cash Equivalents and Restricted Cash at End of Period [1] $ 9,076 $ 8,316
[1] Restricted cash of $246 million and $236 million is included in the "Other assets" line of our Consolidated Balance Sheet as of September 30, 2023 and December 31, 2022, respectively.