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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 2,246 $ 3,006 $ 9,149
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 3,158 2,774 2,701
Gain on early retirement of debt, net 0 0 (11)
Asset impairment loss 1,131 0 0
Deferred income tax expense (benefit) (197) (87) 103
Changes in operating assets and liabilities:      
Current assets and current liabilities (see Note 18) (192) 795 (2,326)
Deferred charges and other assets (171) (579) (210)
Long-term liabilities (136) 296 (127)
Other operating activities, net (13) 478 (50)
Net cash provided by operating activities 5,826 6,683 9,229
Cash flows from investing activities:      
Purchases of available-for-sale (AFS) debt securities (27) (29) (276)
Proceeds from sales and maturities of AFS debt securities 30 81 314
Investments in nonconsolidated joint ventures (3) 0 0
Other investing activities, net 40 24 13
Net cash used in investing activities (1,845) (1,981) (1,865)
Cash flows from financing activities:      
Premiums paid on early retirement of debt 0 0 (5)
Purchases of common stock for treasury (2,598) (2,875) (5,136)
Payment of excise tax on purchases of common stock for treasury (28) (49) 0
Common stock dividend payments (1,405) (1,384) (1,452)
Contributions from noncontrolling interests 328 90 75
Distributions to noncontrolling interests (369) (182) (164)
Other financing activities, net (16) (1) 3
Net cash used in financing activities (4,182) (5,049) (6,941)
Effect of foreign exchange rate changes on cash 237 (248) 139
Net increase (decrease) in cash, cash equivalents, and restricted cash 36 (595) 562
Cash, cash equivalents, and restricted cash at beginning of year [1] 4,829 5,424 4,862
Cash, cash equivalents, and restricted cash at end of year [1] 4,865 4,829 5,424
Excluding Variable Interest Entities (VIEs) [Member]      
Cash flows from investing activities:      
Capital expenditures (719) (649) (665)
Deferred turnaround and catalyst cost expenditures (990) (1,079) (946)
Cash flows from financing activities:      
Proceeds from debt issuance and borrowings 6,899 6,700 1,750
Repayments of debt and finance lease obligations (6,931) (7,086) (2,125)
Diamond Green Diesel Holdings LLC (DGD) [Member]      
Cash flows from investing activities:      
Capital expenditures (71) (250) (235)
Deferred turnaround and catalyst cost expenditures (99) (71) (59)
Cash flows from financing activities:      
Proceeds from debt issuance and borrowings 675 410 550
Repayments of debt and finance lease obligations (702) (686) (480)
Other VIEs [Member]      
Cash flows from investing activities:      
Capital expenditures (6) (8) (11)
Cash flows from financing activities:      
Proceeds from debt borrowings of other VIEs 0 27 120
Repayments of debt and finance lease obligations $ (35) $ (13) $ (77)
[1] Restricted cash is included in prepaid expenses and other in our consolidated balance sheets.