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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net earnings $ 3,782 $ 6,037 $ 2,833
Adjustments to reconcile net earnings to net cash from operating activities:      
Depreciation, depletion and amortization 2,554 2,223 2,158
Leasehold impairments 5 12 4
Amortization of liabilities (16) (31) (27)
Total (gains) losses on commodity derivatives (118) 658 1,544
Cash settlements on commodity derivatives 47 (1,356) (1,462)
Gains on asset dispositions (30) (44) (168)
Deferred income tax expense 376 1,179 49
Share-based compensation 93 88 99
Early retirement of debt 0 0 (30)
Other (5) (10) 15
Changes in assets and liabilities, net (144) (226) (116)
Net cash from operating activities 6,544 8,530 4,899 Close
Cash flows from investing activities:      
Capital expenditures (3,883) (2,542) (1,989)
Acquisitions of property and equipment (64) (2,583) (18)
Divestitures of property and equipment 26 39 79
WPX acquired cash 0 0 344
Distributions from investments 32 39 35
Contributions to investments and other (53) (76) (25)
Net cash from investing activities (3,942) (5,123) (1,574) Close
Cash flows from financing activities:      
Repayments of long-term debt (242) 0 (1,243)
Early retirement of debt 0 0 (59)
Repurchases of common stock (979) (718) (589)
Dividends paid on common stock (1,858) (3,379) (1,315)
Contributions from noncontrolling interests 37 0 4
Distributions to noncontrolling interests (45) (30) (21)
Acquisition of noncontrolling interests 0 0 (24)
Shares exchanged for tax withholdings and other (97) (86) (45)
Net cash from financing activities (3,184) (4,213) (3,292) Close
Effect of exchange rate changes on cash 3 (11) 1 Close
Net change in cash, cash equivalents and restricted cash (579) (817) 34 Close
Cash, cash equivalents and restricted cash at beginning of period 1,454 2,271 2,237
Cash, cash equivalents and restricted cash at end of period 875 1,454 2,271
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 853 1,314 2,099
Restricted cash 22 140 172
Total cash, cash equivalents and restricted cash $ 875 $ 1,454 $ 2,271