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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities    
Net income $ 1,235 $ 1,865
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
(Gains) losses on asset sales, net (2) (25)
Depreciation, depletion and amortization 1,487 1,199
Impairment and other 82 54
Exploratory dry hole costs 97 19
Exploration lease impairment 24 14
Pension settlement loss 0 2
Stock compensation expense 69 66
Noncash (gains) losses on commodity derivatives, net 104 383
Provision for deferred income taxes and other tax accruals 159 243
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (455) (500)
(Increase) decrease in inventories (116) (55)
Increase (decrease) in accounts payable and accrued liabilities 208 37
Increase (decrease) in taxes payable 62 (361)
Changes in other operating assets and liabilities (356) (249)
Net cash provided by (used in) operating activities 2,598 2,692 Close
Cash Flows From Investing Activities    
Additions to property, plant and equipment - E&P (2,504) (1,755)
Additions to property, plant and equipment - Midstream (160) (177)
Proceeds from asset sales, net of cash sold 3 28
Other, net 5 4
Net cash provided by (used in) investing activities (2,666) (1,908) Close
Cash Flows From Financing Activities    
Net borrowings (repayments) of debt with maturities of 90 days or less 258 (61)
Debt with maturities of greater than 90 days – Borrowings 0 420
Debt with maturities of greater than 90 days - Repayments 0 (510)
Cash dividends paid (405) (350)
Payments for Repurchase of Common Stock (20) (340)
Proceeds from sale of Class A shares of Hess Midstream LP 167 146
Noncontrolling interests, net (399) (430)
Employee stock options exercised 10 44
Payments on finance lease obligations (7) (5)
Other, net (4) (27)
Net cash provided by (used in) financing activities (400) (1,113) Close
Net Increase (Decrease) in Cash and Cash Equivalents (468) (329) Close
Cash and Cash Equivalents at Beginning of Year 2,486 2,713
Cash and Cash Equivalents at End of Period $ 2,018 $ 2,384