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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities    
Net income $ 1,918 $ 633
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, depletion and amortization 1,157 988
Impairment and other 0 82
Exploratory dry hole costs 63 93
Exploration lease impairment 10 13
Stock compensation expense 59 53
Unrealized Gain (Loss) on Derivatives and Commodity Contracts 0 (52)
Provision for deferred income taxes and other tax accruals 114 92
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 15 (14)
(Increase) decrease in inventories (78) (61)
Increase (decrease) in accounts payable and accrued liabilities (194) (119)
Increase (decrease) in taxes payable 24 22
Changes in other operating assets and liabilities (310) (222)
Net cash provided by (used in) operating activities 2,778 1,612 Close
Cash Flows From Investing Activities    
Additions to property, plant and equipment - E&P (1,989) (1,551)
Additions to property, plant and equipment - Midstream (119) (107)
Other, net 2 4
Net cash provided by (used in) investing activities (2,110) (1,662) Close
Cash Flows From Financing Activities    
Net borrowings (repayments) of debt with maturities of 90 days or less (340) 180
Debt with maturities of greater than 90 days – Borrowings 600 0
Debt with maturities of greater than 90 days - Repayments (5) 0
Cash dividends paid (271) (271)
Payments for Repurchase of Common Stock 0 (20)
Proceeds from sale of Class A shares of Hess Midstream LP 0 167
Noncontrolling interests, net (305) (263)
Employee stock options exercised 13 4
Payments on finance lease obligations (5) (4)
Other, net (18) (3)
Net cash provided by (used in) financing activities (331) (210) Close
Net Increase (Decrease) in Cash and Cash Equivalents 337 (260) Close
Cash and Cash Equivalents at Beginning of Year 1,688 2,486
Cash and Cash Equivalents at End of Period $ 2,025 $ 2,226