Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2017

Supplemental Cash Flow Information [Abstract]


11.	SUPPLEMENTAL CASH FLOW INFORMATION

In order to determine net cash provided by operating activities, net income is adjusted by, among other things, changes in current assets and current liabilities as follows (in millions):



	Six Months Ended June 30,
	2017			2016
Decrease (increase) in current assets:
Receivables, net	$	1,396		$	(467	)
Inventories	123			422
Income taxes receivable	45			169
Prepaid expenses and other	41			14
Increase (decrease) in current liabilities:
Accounts payable	(942		)	1,090
Accrued expenses	262			(113		)
Taxes other than income taxes	(41		)	7
Income taxes payable	(25		)	8
Changes in current assets and current liabilities	$	859		$	1,130

Noncash investing and financing activities during the six months ended June 30, 2017 included the recognition of a capital lease asset and related obligation associated with an agreement for storage tanks near three of our refineries. This noncash transaction is further described in Note 4. There were no significant noncash investing or financing activities during the six months ended June 30, 2016.

Cash flows reflected as “other financing activities, net” for the six months ended June 30, 2016 included the payment of a long-term liability of $137 million owed to a joint venture partner associated with an owner-method joint venture investment.

Cash flows related to interest and income taxes were as follows (in millions):



	Six Months Ended June 30,
	2017		2016
Interest paid in excess of amount capitalized	$	235	$	213
Income taxes paid, net	263		137