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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 3,006 $ 9,149 $ 11,879
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 2,774 2,701 2,473
Gain on early retirement of debt, net 0 (11) (14)
Asset impairment loss 0 0 61
Deferred income tax expense (benefit) (87) 103 50
Changes in current assets and current liabilities 795 (2,326) (1,626)
Changes in deferred charges and credits and other operating activities, net 195 (387) (249)
Net cash provided by operating activities 6,683 9,229 12,574
Cash flows from investing activities:      
Purchases of available-for-sale (AFS) debt securities (29) (276) (100)
Proceeds from sales and maturities of AFS debt securities 81 314 5
Proceeds from sale of assets 0 0 32
Investments in nonconsolidated joint ventures 0 0 (1)
Other investing activities, net 24 13 (4)
Net cash used in investing activities (1,981) (1,865) (2,805)
Cash flows from financing activities:      
Premiums paid on early retirement of debt 0 (5) (56)
Purchases of common stock for treasury (2,875) (5,136) (4,577)
Payment of excise tax on purchases of common stock for treasury (49) 0 0
Common stock dividend payments (1,384) (1,452) (1,562)
Contributions from noncontrolling interests 90 75 265
Distributions to noncontrolling interests (182) (164) (93)
Other financing activities, net (1) 3 (16)
Net cash used in financing activities (5,049) (6,941) (8,849)
Effect of foreign exchange rate changes on cash (248) 139 (180)
Net increase (decrease) in cash, cash equivalents, and restricted cash (595) 562 740
Cash and cash equivalents at beginning of year 5,424 [1] 4,862 [1] 4,122
Cash, cash equivalents, and restricted cash at end of year [1] 4,829 5,424 4,862
Excluding Variable Interest Entities (VIEs) [Member]      
Cash flows from investing activities:      
Capital expenditures (649) (665) (788)
Deferred turnaround and catalyst cost expenditures (1,079) (946) (1,030)
Cash flows from financing activities:      
Proceeds from debt issuance and borrowings 6,700 1,750 2,239
Repayments of debt and finance lease obligations (7,086) (2,125) (5,067)
Diamond Green Diesel Holdings LLC (DGD) [Member]      
Cash flows from investing activities:      
Capital expenditures (250) (235) (853)
Deferred turnaround and catalyst cost expenditures (71) (59) (26)
Cash flows from financing activities:      
Proceeds from debt issuance and borrowings 410 550 809
Repayments of debt and finance lease obligations (686) (480) (823)
Other VIEs [Member]      
Cash flows from investing activities:      
Capital expenditures (8) (11) (40)
Cash flows from financing activities:      
Proceeds from debt borrowings of other VIEs 27 120 105
Repayments of debt and finance lease obligations $ (13) $ (77) $ (73)
[1] Restricted cash is included in prepaid expenses and other in our consolidated balance sheets.