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,
	2025		2024
Decrease in current assets:
Receivables, net	$	619	$	1,382
Inventories	529		574
Prepaid expenses and other	51		265
Increase (decrease) in current liabilities:
Accounts payable	(1,438)		(1,081)
Accrued expenses	264		(93)
Taxes other than income taxes payable	13		(114)
Income taxes payable	119		(138)
Changes in current assets and current liabilities	$	157	$	795

Changes in current assets and current liabilities for the nine months ended September 30, 2025 were primarily due to the following:

•The decrease in receivables was due to a decrease in refined petroleum product sales volumes in September 2025 compared to December 2024 and the collection of $246 million for a blender’s tax credit receivable, partially offset by an increase in related prices in September 2025 compared to December 2024;

•The decrease in inventories was primarily due to lower inventory levels in September 2025 compared to December 2024; and

•The decrease in accounts payable was due to a decrease in crude oil and other feedstock prices combined with a decrease in related volumes purchased in September 2025 compared to December 2024.

Changes in current assets and current liabilities for the nine months ended September 30, 2024 were primarily due to the following:

•The decrease in receivables was due to a decrease in refined petroleum product sales volumes combined with a decrease in related prices in September 2024 compared to December 2023;

•The decrease in inventories was primarily due to lower inventory levels in September 2024 compared to December 2023; and

•The decrease in accounts payable was due to a decrease in crude oil and other feedstock prices combined with a decrease in related volumes purchased in September 2024 compared to December 2023.


	Nine Months Ended September 30,
	2025		2024
Interest paid in excess of amount capitalized, including interest on finance leases	$	362	$	374
Income taxes paid, net	398		835

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


	Nine Months Ended September 30,
	2025				2024
	Operating Leases		Finance Leases		Operating Leases		Finance Leases
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$	394	$	84	$	392	$	87

Financing cash flows	—		196		—		173
Changes in lease balances resulting from new and modified leases	357		22		346		312

Noncash investing activities for the nine months ended September 30, 2025 included the recognition of expected asset retirement obligations of $337 million, as described in Note 2. There were no other significant noncash investing and financing activities during the nine months ended September 30, 2025, except as noted in the table above.

Noncash financing activities for the nine months ended September 30, 2024 included the conversion by IEnova of $457 million of outstanding borrowings under the IEnova Revolver to additional equity in Central Mexico Terminals. There were no other significant noncash investing and financing activities during the nine months ended September 30, 2024, except as noted in the table above.