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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:        
Net income (loss) $ 2,516 $ 2,662 $ 1,595  
Adjustments to reconcile net income (loss) to cash flows from operating activities:        
Impairments and other charges 116 0 366  
Depreciation, depletion and amortization 1,079 998 940  
Deferred Income Taxes and Tax Credits 148 196 70  
Changes in assets and liabilities:        
Receivables (312) (257) (1,151)  
Accounts payable 62 49 852  
Inventories 147 (303) (642)  
Other operating activities 109 113 212  
Total cash flows provided by operating activities 3,865 3,458 2,242  
Cash flows from investing activities:        
Capital expenditures (1,442) (1,379) (1,011)  
Proceeds from sales of property, plant and equipment 223 195 200  
Other investing activities (211) (114) (81)  
Total cash flows used in investing activities (1,654) (1,659) (967)  
Cash flows from financing activities:        
Dividends to shareholders (600) (576) (435)  
Proceeds from issuance of common stock 105 136 229  
Stock repurchase program (1,005) (800) (250)  
Payments on long-term borrowings (100) (305) (1,242)  
Other financing activities (130) (126) (100)  
Total cash flows used in financing activities (1,730) (1,671) (1,798)  
Cash and equivalents at beginning of year 2,264      
Cash and equivalents at end of year 2,618 2,264    
Cash payments (receipts) during the period for:        
Interest 441 460 487  
Income taxes 538 616 354  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total 354 (82) (698)  
Cash and equivalents 2,618 2,264 2,346 $ 3,044
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations (127) (210) (175)  
Payments to Acquire Marketable Securities (438) (492) (75)  
Proceeds from Sale and Maturity of Marketable Securities $ 214 $ 131 $ 0