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Statement of Consolidated Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 1,676 $ 2,138 $ 807
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation, depletion and amortization 2,406 2,317 2,200
(Income) loss from equity investment in HOVENSA L.L.C. 1,073 522 229
Asset impairments 358 532 54
Exploratory dry hole costs 438 237 267
Lease impairment 301 266 231
Stock compensation expense 104 112 128
Gains on asset sales (446) (1,208) 0
Provision (benefit) for deferred income taxes (623) (495) (438)
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (243) (760) 320
(Increase) decrease in inventories 4 (16) (137)
Increase (decrease) in accounts payable and accrued liabilities 544 1,141 (542)
Increase (decrease) in taxes payable 46 95 (81)
Changes in other assets and liabilities (654) (351) 8
Net cash provided by operating activities 4,984 4,530 3,046
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (7,006) (5,492) (2,918)
Proceeds from asset sales 490 183 0
Other, net (50) 50 (6)
Net cash used in investing activities (6,566) (5,259) (2,924)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net borrowings (repayments) of debt with maturities of 90 days or less 100 0 (850)
Debt with maturities of greater than 90 days      
Borrowings 422 1,278 1,991
Repayments (100) (180) (694)
Cash dividends paid (136) (131) (131)
Noncontrolling interests, net (49) (46) (2)
Employee stock options exercised, including income tax benefits 88 54 18
Net cash provided by financing activities 325 975 332
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (1,257) 246 454
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 1,608 1,362 908
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 351 $ 1,608 $ 1,362