Supplemental Cash Flow Information

9 Months Ended

Sep. 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):



	Nine Months Ended September 30,
	2017			2016
Decrease (increase) in current assets:
Receivables, net	$	74		$	(278	)
Inventories	(285		)	557
Prepaid expenses and other	138			137
Increase (decrease) in current liabilities:
Accounts payable	227			494
Accrued expenses	121			46
Taxes other than income taxes payable	78			8
Income taxes payable	191			(11		)
Changes in current assets and current liabilities	$	544		$	953

Noncash investing and financing activities during the nine months ended September 30, 2017 included the recognition of (i) a capital lease asset and related obligation associated with an agreement for storage tanks near three of our refineries as described in Note 4 and (ii) terminal assets and related obligation recorded under owner accounting as described in Note 5. There were no significant noncash investing and financing activities during the nine months ended September 30, 2016.

Cash flows reflected as “other financing activities, net” for the nine months ended September 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):



	Nine Months Ended September 30,
	2017		2016
Interest paid in excess of amount capitalized	$	356	$	312
Income taxes paid, net	357		305