Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2022

Supplemental Cash Flow Information [Abstract]

10. SUPPLEMENTAL CASH FLOW INFORMATION

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


	Three Months Ended March 31,
	2022		2021
Decrease (increase) in current assets:
Receivables, net	$	(2,653)	$	(2,946)
Inventories	(940)		175

Prepaid expenses and other	(77)		(24)
Increase (decrease) in current liabilities:
Accounts payable	2,744		2,992
Accrued expenses	(120)		105
Taxes other than income taxes payable	36		(144)
Income taxes payable	288		26
Changes in current assets and current liabilities	$	(722)	$	184

Changes in current assets and current liabilities for the three months ended March 31, 2022 were primarily due to the following:

•The increase in receivables was primarily due to an increase in refined petroleum product prices in March 2022 compared to December 2021;

•The increase in inventories was primarily due to an increase in inventory unit prices and higher inventory levels in March 2022 compared to December 2021; and

•The increase in accounts payable was due to an increase in crude oil and other feedstock prices in March 2022 compared to December 2021, partially offset by a decrease in crude oil and other feedstock volumes purchased.

Changes in current assets and current liabilities for the three months ended March 31, 2021 were primarily due to the following:

•The increase in receivables was primarily due to an increase in refined petroleum product prices in March 2021 compared to December 2020 combined with an increase in sales volumes;

•The decrease in inventories was primarily due to lower inventory levels in March 2021 compared to December 2020; and

•The increase in accounts payable was due to an increase in crude oil and other feedstock prices in March 2021 compared to December 2020 combined with an increase in crude oil and other feedstock volumes purchased.

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


	Three Months Ended March 31,
	2022		2021
Interest paid in excess of amount capitalized, including interest on finance leases	$	93	$	103
Income taxes paid, net	204		36

Supplemental cash flow information related to our operating and finance leases was as follows (in millions):


	Three Months Ended March 31,
	2022				2021
	Operating Leases		Finance Leases		Operating Leases		Finance Leases
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$	97	$	20	$	100	$	18

Financing cash flows	—		41		—		31
Changes in lease balances resulting from new and modified leases	79		100		72		7

There were no significant noncash investing and financing activities during the three months ended March 31, 2022 and 2021, except as noted in the table above.