Other Financial Information

12 Months Ended

Dec. 31, 2022

Other Financial Information [Abstract]

Other Financial Information

Note N – Other Financial Information

GAIN FROM FOREIGN CURRENCY TRANSACTIONS – Net gains (losses) from foreign currency transactions, including the effects of foreign currency contracts, included in the Consolidated Statements of Operations were $23.0 million in 2022, $1.0 million in 2021 and $(0.9) million in 2020.

Noncash operating working capital (increased) decreased during each of the three years ended December 31, 2022 as shown in the following table.

(Thousands of dollars)	2022		2021		2020
Net (increase) decrease in operating working capital, excluding cash and cash equivalents:
(Increase) decrease in accounts receivable ¹	$	(137,228)	$	8,056	$	164,613
(Increase) decrease in inventories	(1,534)		12,809		5,953
(Increase) decrease in prepaid expenses	(3,413)		2,003		7,178
Increase (decrease) in accounts payable and accrued liabilities ¹	69,854		95,166		(208,740)
Increase (decrease) in income taxes payable	6,593		423		(1,031)
Net (increase) decrease in noncash operating working capital	$	(65,728)	$	118,457	$	(32,027)
Supplementary disclosures:
Cash income taxes paid, net of refunds	$	24,853	$	2,138	$	(44,175)
Interest paid, net of amounts capitalized of $16.3 million in 2022, $16.1 million in 2021 and $8.0 million in 2020	149,957		165,699		191,561
Non-cash investing activities:
Asset retirement costs capitalized	$	(21,147)	$	54,439	$	14,736
(Increase) decrease in capital expenditure accrual	(31,397)		9,788		84,645

1  Excludes receivable/payable balances relating to mark-to-market of crude contracts.