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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities    
Net income (loss) $ 1,259 $ 349
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
(Gains) on asset sales, net (25) 0
Depreciation, depletion and amortization 728 781
Impairment and other 0 147
Exploratory dry hole costs 0 9
Exploration lease and other impairment 10 10
Pension settlement loss 2 4
Stock compensation expense 49 44
Noncash (gains) losses on commodity derivatives, net 218 88
Provision (benefit) for deferred income taxes and other tax accruals 174 42
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (529) (315)
(Increase) decrease in inventories (94) 137
Increase (decrease) in accounts payable and accrued liabilities 100 (56)
Increase (decrease) in taxes payable (387) 187
Changes in other operating assets and liabilities (152) (51)
Net cash provided by (used in) operating activities 1,353 1,376
Cash Flows From Investing Activities    
Additions to property, plant and equipment - E&P (1,098) (687)
Additions to property, plant and equipment - Midstream (111) (53)
Proceeds from asset sales, net of cash sold 28 297
Other, net 0 2
Net cash provided by (used in) investing activities (1,181) (445)
Cash Flows From Financing Activities    
Net borrowings (repayments) of debt with maturities of 90 days or less (13) (75)
Debt with maturities of greater than 90 days – Borrowings 400 0
Debt with maturities of greater than 90 days - Repayments (510) (5)
Proceeds from sale of Class A shares of Hess Midstream LP 146 70
Common stock acquired and retired (190) 0
Payments on finance lease obligations (4) (4)
Cash dividends paid (235) (157)
Employee stock options exercised 40 75
Noncontrolling interests, net (351) (137)
Other, net (9) (7)
Net cash provided by (used in) financing activities (726) (240)
Net Increase (Decrease) in Cash and Cash Equivalents (554) 691
Cash and Cash Equivalents at Beginning of Year 2,713 1,739
Cash and Cash Equivalents at End of Period $ 2,159 $ 2,430