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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net income $ 2,270 $ 113
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 859 1,028
Impairments 2 47
Exploratory dry well costs and unproved property impairments 14 39
Net (gain) loss on disposal of assets 1 (1)
Loss on early extinguishment of debt 0 19
Deferred income taxes (319) (7)
Unrealized loss on derivative instruments, net 71 157
Pension and other post retirement benefits, net (16) (14)
Stock-based compensation 18 17
Equity method investments, net (85) (17)
Changes in:    
Current receivables (376) (253)
Inventories (16) (2)
Current accounts payable and accrued liabilities 278 121
Other current assets and liabilities (7) 73
All other operating, net 51 (43)
Net cash provided by operating activities 2,745 1,277
Investing activities:    
Additions to property, plant and equipment (687) (483)
Acquisitions, net of cash acquired 2 0
Disposal of assets, net of cash transferred to the buyer 4 15
Equity method investments - return of capital 7 6
All other investing, net 0 (1)
Net cash used in investing activities (674) (463)
Financing activities:    
Debt repayment (32) (500)
Debt extinguishment costs 0 (19)
Shares repurchased under buyback programs (1,352) 0
Dividends paid (108) (55)
Purchases of shares for tax withholding obligations (21) (9)
All other financing, net 24 (3)
Net cash used in financing activities (1,489) (586)
Net increase in cash and cash equivalents 582 228
Cash and cash equivalents at beginning of period 580 742
Cash and cash equivalents at end of period $ 1,162 $ 970