Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2026

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,
	2026		2025
Decrease (increase) in current assets:
Receivables, net	$	(5,021)	$	619
Inventories	(15)		529
Prepaid expenses and other	(281)		51
Increase (decrease) in current liabilities:
Accounts payable	3,635		(1,438)
Accrued expenses	(27)		264
Taxes other than income taxes payable	73		13
Income taxes payable	1,513		119
Changes in current assets and current liabilities	$	(123)	$	157

Changes in current assets and current liabilities for the nine months ended September 30, 2026 were primarily due to the following:

•The increase in receivables was primarily due to an increase in refined petroleum product prices in September 2026 compared to December 2025;

•The increase in accounts payable was primarily due to an increase in crude oil and other feedstock prices in September 2026 compared to December 2025; and

•The increase in income taxes payable was primarily due to higher income before income tax expense in the third quarter of 2026.

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.

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


	Nine Months Ended September 30,
	2026		2025
Interest paid in excess of amount capitalized, including interest on finance leases	$	378	$	362
Income taxes paid, net	1,880		398

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


	Nine Months Ended September 30,
	2026				2025
	Operating Leases		Finance Leases		Operating Leases		Finance Leases
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$	424	$	89	$	394	$	84

Financing cash flows	—		185		—		196
Changes in lease balances resulting from new and modified leases	778		263		357		22

There were no significant noncash investing and financing activities during the nine months ended September 30, 2026, except as noted in the table above. 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.