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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities    
Net Income (Loss) $ 2,551 $ 2,920
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation, depletion and amortization 2,211 1,942
Impairments 0 1
Dry hole costs and leasehold impairments 19 68
Accretion on discounted liabilities 80 68
Deferred taxes 87 324
Distributions more (less) than income from equity affiliates 308 491
(Gain) loss on dispositions (93) (93)
Other (66) (35)
Working capital adjustments    
Decrease (increase) in accounts and notes receivable (76) 1,701
Decrease (increase) in inventories (55) (45)
Decrease (increase) in prepaid expenses and other current assets 74 255
Increase (decrease) in accounts payable (85) (1,266)
Increase (decrease) in taxes and other accruals 30 (928)
Net Cash Provided by Operating Activities 4,985 5,403 Close
Cash Flows From Investing Activities    
Capital expenditures and investments (2,916) (2,897)
Working capital changes associated with investing activities 169 208
Acquisition of businesses, net of cash acquired 49 0
Proceeds from asset dispositions 173 188
Net sales (purchases) of investments 405 1,065
Other (21) (12)
Net Cash Used in Investing Activities (2,141) (1,448) Close
Cash Flows From Financing Activities    
Repayment of debt (505) (43)
Issuance of company common stock (61) (97)
Repurchase of company common stock (1,325) (1,700)
Dividends paid (924) (1,488)
Other (10) 2
Net Cash Used in Financing Activities (2,825) (3,326) Close
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (73) (104) Close
Net Change in Cash, Cash Equivalents and Restricted Cash (54) 525 Close
Cash, cash equivalents and restricted cash at beginning of period [1] 5,899 6,694
Cash, Cash Equivalents and Restricted Cash at End of Period [1] $ 5,845 $ 7,219
[1]
Restricted cash of $271 million and $264 million is included in the "Other assets" line of our Consolidated Balance Sheet as of March 31, 2024 and December 31, 2023, respectively.