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Statement of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows From Operating Activities      
Net income (loss) $ (2,839) $ (240) $ (115)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
(Gains) on asset sales, net (87) (22) (32)
Depreciation, depletion and amortization 2,074 2,122 1,883
Impairment 2,126 0 0
Exploratory dry hole costs 192 49 165
Exploration lease and other impairment 51 17 37
Pension settlement loss 0 93 4
Stock compensation expense 79 85 72
Noncash (gains) losses on commodity derivatives, net 260 116 182
Provision (benefit) for deferred income taxes and other tax accruals (53) 17 (120)
Loss on debt extinguishment 0 0 53
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable 267 (383) (138)
(Increase) decrease in inventories (117) (16) (12)
Increase (decrease) in accounts payable and accrued liabilities (533) 4 88
Increase (decrease) in taxes payable (16) 16 (2)
Changes in other operating assets and liabilities (71) (216) (126)
Net cash provided by (used in) operating activities 1,333 1,642 1,939
Cash Flows From Investing Activities      
Additions to property, plant and equipment - E&P (1,896) (2,433) (1,854)
Additions to property, plant and equipment - Midstream (301) (396) (243)
Payments for Midstream equity investments 0 (33) (67)
Proceeds from asset sales, net of cash sold 493 22 607
Other, net (3) (3) (9)
Net cash provided by (used in) investing activities (1,707) (2,843) (1,566)
Cash Flows From Financing Activities      
Net borrowings (repayments) of debt with maturities of 90 days or less 152 32 0
Debt with maturities of greater than 90 days – Borrowings 1,000 760 0
Debt with maturities of greater than 90 days – Repayments 0 (8) (633)
Payments on finance lease obligations (7) (49) 0
Common stock acquired and retired 0 (25) (1,365)
Cash dividends paid (309) (316) (345)
Noncontrolling interests, net (261) (353) (211)
Other, net (7) 11 28
Net cash provided by (used in) financing activities 568 52 (2,526)
Net Increase (Decrease) in Cash and Cash Equivalents 194 (1,149) (2,153)
Cash and Cash Equivalents at Beginning of Year 1,545 2,694 4,847
Cash and Cash Equivalents at End of Year $ 1,739 $ 1,545 $ 2,694