XML 77 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income (loss) $ 2,089 $ 324 $ (1,982)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization expense 1,534 1,473 1,527
Asset impairment loss 0 2 607
Loss on shutdown and sales of refinery assets, net 12 888 1,868
Gain on sale of investment in Cameron Highway Oil Pipeline Company 0 (55) 0
Stock-based compensation expense 58 54 66
Deferred income tax expense (benefit) 461 347 (343)
Changes in current assets and current liabilities 81 68 255
Changes in deferred charges and credits and other operating activities, net (197) (56) (175)
Net cash provided by operating activities 4,038 3,045 1,823
Cash flows from investing activities:      
Capital expenditures (2,355) (1,730) (2,306)
Deferred turnaround and catalyst costs (629) (535) (415)
Acquisition of Pembroke Refinery, net of cash acquired (1,691) 0 0
Acquisition of Meraux Refinery (547) 0 0
Acquisitions of ethanol plants 0 (260) (577)
Minor acquisitions (37) 0 (29)
Proceeds from sale of investment in Cameron Highway Oil Pipeline Company 0 330 0
Other investing activities, net (39) 23 35
Net cash used in investing activities (5,298) (1,405) (3,292)
Non-bank debt:      
Borrowings 0 1,544 998
Repayments (774) (517) (285)
Bank credit agreements:      
Borrowings 0 0 39
Repayments (4) 0 (39)
Accounts receivable sales facility:      
Proceeds from the sale of receivables 150 1,225 950
Repayments 0 (1,325) (850)
Proceeds from the sale of common stock, net of issuance costs 0 0 799
Proceeds from the exercise of stock options 49 20 11
Purchase of common stock for treasury (349) (13) (4)
Common stock dividends (169) (114) (324)
Contributions from noncontrolling interests 22 0 0
Other financing activities, net 9 (4) (6)
Net cash provided by (used in) financing activities (1,066) 816 1,289
Effect of foreign exchange rate changes on cash 16 53 65
Net increase (decrease) in cash and temporary cash investments (2,310) 2,509 (115)
Cash and temporary cash investments at beginning of year 3,334 825 940
Cash and temporary cash investments at end of year $ 1,024 $ 3,334 $ 825