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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income (loss) $ 1,292 $ 2,516 $ 2,662
Adjustments to reconcile net income (loss) to net cash flows from operating activities:      
Depreciation, depletion and amortization 1,136 1,079 998
Impairments and other charges [1] 831 116 0
Deferred Income Taxes and Tax Credits 23 148 196
Changes in assets and liabilities:      
Receivables 188 (312) (257)
Inventories 80 147 (303)
Accounts payable (72) 62 49
Other operating activities (552) 109 113
Total cash flows provided by operating activities 2,926 3,865 3,458
Cash flows from investing activities:      
Capital expenditures (1,254) (1,442) (1,379)
Payments to Acquire Equity Method Investments (363) (139) 0
Payments to Acquire Marketable Securities (202) (438) (492)
Payments to Acquire Businesses, Net of Cash Acquired (185) (27) (13)
Proceeds from Sale and Maturity of Marketable Securities 444 214 131
Proceeds from sales of property, plant and equipment 185 223 195
Proceeds from Sale of Equity Method Investments 120 0 0
Other investing activities (70) (45) (101)
Total cash flows used in investing activities (1,325) (1,654) (1,659)
Cash flows from financing activities:      
Payments for Repurchase of Common Stock 1,007 1,005 800
Dividends to shareholders (579) (600) (576)
Repayments of Long-term Debt (389) (100) (305)
Proceeds from issuance of common stock 98 105 136
Other financing activities (110) (130) (126)
Total cash flows used in financing activities (1,987) (1,730) (1,671)
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Including Discontinued Operation (26) (127) (210)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (412) 354 (82)
Cash and equivalents at beginning of period 2,618 2,264 2,346
Cash and equivalents at end of period 2,206 2,618 2,264
Cash payments during the period for:      
Interest 432 441 460
Income taxes $ 639 $ 538 $ 616
Maximum Percentage Gross Trade Receivables From One Customer 10.00% 10.00%  
[1]
Impairments and other charges are as follows:
For the year ended December 31, 2025, amount includes approximately $556 million attributable to Completion and Production,
$247 million attributable to Drilling and Evaluation, and $28 million attributable to Corporate and other.
For the year ended December 31, 2024, amount includes approximately $45 million attributable to Completion and Production,
$34 million attributable to Drilling and Evaluation, and $37 million attributable to Corporate and other.