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Statement of Consolidated Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows From Operating Activities      
Net income $ 3,152 $ 1,738 $ 2,447
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
(Gains) on asset sales, net (1) (2) (101)
Depreciation, depletion and amortization 2,487 2,046 1,703
Impairment 132 82 54
Exploratory dry hole costs 159 147 56
Exploration lease impairment 22 27 20
Pension prior service cost 35 0 0
Pension settlement loss 0 17 2
Stock compensation expense 100 87 83
Noncash (gains) losses on commodity derivatives, net 0 156 548
Provision (benefit) for deferred income taxes and other tax accruals 267 196 309
Changes in operating assets and liabilities:      
(Increase) decrease in accounts receivable (140) (324) (301)
(Increase) decrease in inventories (115) (87) 2
Increase (decrease) in accounts payable and accrued liabilities (115) 253 50
Increase (decrease) in taxes payable 13 38 (465)
Changes in other operating assets and liabilities (396) (432) (463)
Net cash provided by (used in) operating activities 5,600 3,942 3,944
Cash Flows From Investing Activities      
Additions to property, plant and equipment – E&P (4,640) (3,884) (2,487)
Additions to property, plant and equipment – Midstream (306) (224) (238)
Proceeds from asset sales, net of cash sold 16 3 178
Other, net (7) (8) (8)
Net cash provided by (used in) investing activities (4,937) (4,113) (2,555)
Cash Flows From Financing Activities      
Net borrowings (repayments) of debt with maturities of 90 days or less (325) 322 (86)
Debt with maturities of greater than 90 days – Borrowings 600 0 420
Debt with maturities of greater than 90 days – Repayments (313) (3) (510)
Cash dividends paid (579) (539) (465)
Common stock acquired and retired 0 (20) (630)
Proceeds from sale of Class A shares of Hess Midstream LP 0 167 146
Noncontrolling interests, net (551) (550) (510)
Employee stock options exercised 21 10 52
Payments on finance lease obligations (11) (10) (9)
Other, net (22) (4) (24)
Net cash provided by (used in) financing activities (1,180) (627) (1,616)
Net Increase (Decrease) in Cash and Cash Equivalents (517) (798) (227)
Cash and Cash Equivalents at Beginning of Year 1,688 2,486 2,713
Cash and Cash Equivalents at End of Year $ 1,171 $ 1,688 $ 2,486