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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
OPERATING ACTIVITIES:    
Net income (loss) $ 957 $ 392
Adjustments to reconcile to net cash provided (used) by operating activities:    
Depreciation and amortization 506 498
Provision (benefit) for deferred income taxes 283 115
Equity (earnings) losses (147) (136)
Distributions from equity-method investees 208 212
Net unrealized (gain) loss from derivative instruments (327) 123
Inventory write-downs 18 0
Amortization of stock-based awards 17 21
Cash provided (used) by changes in current assets and liabilities:    
Accounts receivable 1,269 (3)
Inventories 27 178
Other current assets and deferred charges (4) (65)
Accounts payable (1,017) (138)
Accrued and other current liabilities (318) (149)
Changes in current and noncurrent derivative assets and liabilities 82 101
Other, including changes in noncurrent assets and liabilities (40) (67)
Net cash provided (used) by operating activities 1,514 1,082
FINANCING ACTIVITIES:    
Proceeds from (Repayments of) Commercial Paper (352) 0
Proceeds from long-term debt 1,502 3
Payments of long-term debt (7) (1,256)
Proceeds from issuance of common stock 3 37
Purchases of treasury stock (74) 0
Common dividends paid (546) (518)
Dividends and distributions paid to noncontrolling interests (54) (37)
Contributions from noncontrolling interests 3 3
Payments for debt issuance costs (8) 0
Other – net (17) (30)
Net cash provided (used) by financing activities 450 (1,798)
INVESTING ACTIVITIES:    
Capital expenditures (1) (545) (291)
Dispositions – net (7) (6)
Contributions in aid of construction 11 (3)
Purchases of businesses, net of cash acquired (Note 3) (1,056) 0
Purchases of and contributions to equity-method investments (39) (56)
Other – net (3) (4)
Net cash provided (used) by investing activities (1,639) (360)
Increase (decrease) in cash and cash equivalents 325 (1,076)
Cash and cash equivalents at beginning of year 152 1,680
Cash and cash equivalents at end of period 477 604
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]    
(1) Increases to property, plant, and equipment (484) (260)
Changes in related accounts payable and accrued liabilities (61) (31)
Capital expenditures $ (545) $ (291)