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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities    
Net income (loss) $ 336 $ (2,366)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation, depletion and amortization 396 561
Impairment 0 2,126
Exploratory dry hole costs 0 135
Exploration lease and other impairment 4 32
Pension settlement loss 1 0
Stock compensation expense 25 29
Noncash (gains) losses on commodity derivatives, net 24 70
Provision (benefit) for deferred income taxes and other tax accruals 29 (85)
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (329) 258
(Increase) decrease in inventories 159 31
Increase (decrease) in accounts payable and accrued liabilities (127) (263)
Increase (decrease) in taxes payable 87 (63)
Changes in other operating assets and liabilities (14) (20)
Net cash provided by (used in) operating activities 591 445
Cash Flows From Investing Activities    
Additions to property, plant and equipment - E&P (358) (740)
Additions to property, plant and equipment - Midstream (27) (78)
Net cash provided by (used in) investing activities (385) (818)
Cash Flows From Financing Activities    
Net borrowings (repayments) of debt with maturities of 90 days or less (10) 60
Debt with maturities of greater than 90 days – Borrowings 0 1,000
Debt with maturities of greater than 90 days - Repayments (3) 0
Proceeds from sale of Class A shares of Hess Midstream LP 70 0
Payments on finance lease obligations (2) (1)
Cash dividends paid (80) (81)
Noncontrolling interests, net (67) (63)
Other, net 13 (7)
Net cash provided by (used in) financing activities (79) 908
Net Increase (Decrease) in Cash and Cash Equivalents 127 535
Cash and Cash Equivalents at Beginning of Year 1,739 1,545
Cash and Cash Equivalents at End of Period $ 1,866 $ 2,080