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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating Activities      
Net income $ 872,702 $ 798,081 [1] $ 837,621 [1]
Adjustments to reconcile net income to net cash provided by operating activities      
Income from discontinued operations (131,770) (18,522) [1] (123,767) [1]
Depreciation, depletion and amortization 1,093,406 1,114,529 [1] 870,999 [1]
Impairment of long-lived assets 368,600 0 [1] 5,240 [1]
Amortization of deferred major repair costs 23,076 15,561 [1] 7,348 [1]
Expenditures for asset retirements (24,692) (36,506) [1] (48,694) [1]
Dry hole costs 250,954 90,125 [1] 125,244 [1]
Amortization of undeveloped leases 118,211 108,026 [1] 83,213 [1]
Accretion of asset retirement obligations 37,701 31,857 [1] 26,154 [1]
Deferred and noncurrent income tax charges 171,565 135,225 [1] 95,245 [1]
Pretax gains from disposition of assets (22,679) (884) [1] (3,709) [1]
Net decrease (increase) in noncash operating working capital (825,154) 639,566 [1] (194,690) [1]
Other operating activities - net 67,955 151,012 [1] 90,001 [1]
Net cash provided by continuing operations 1,999,875 3,028,070 [1] 1,770,205 [1]
Net cash provided by discontinued operations 145,510 100,488 [1] 94,428 [1]
Net cash provided by operating activities 2,145,385 3,128,558 [1] 1,864,633 [1]
Investing Activities      
Property additions and dry hole costs (2,623,407) (2,199,049) [1] (1,866,114) [1]
Acquisition of ethanol plants 0 [2] (40,000) [1],[2] (10,000) [1],[2]
Proceeds from sale of property, plant and equipment 27,776 2,189 [1] 1,616 [1]
Expenditures for major repairs (5,409) (61,387) [1] (19,252) [1]
Purchase of investment securities (1,689,087) [3] (2,388,720) [1],[3] (2,531,515) [1],[3]
Proceeds from maturity of investment securities 1,773,552 [3] 2,551,187 [1],[3] 2,172,830 [1],[3]
Other investing activities - net 8,014 (38,157) [1] (34,050) [1]
Investing activities of discontinued operations      
Sales proceeds 950,010 0 [1] 78,908 [1]
Other (55,803) (154,875) [1] (124,330) [1]
Net cash required by investing activities (1,614,354) (2,328,812) [1] (2,331,907) [1]
Financing Activities      
Additions to long-term debt 0 0 [1] 243,500 [1]
Reductions of long-term debt (340,041) (332,038) [1] 0 [1]
Reductions of nonrecourse debt of a subsidiary 0 (82,000) [1] (2,572) [1]
Proceeds from exercise of stock options and employee stock purchase plans 15,551 42,995 [1] 12,746 [1]
Excess tax benefits related to exercise of stock options 4,838 11,672 [1] 4,143 [1]
Withholding tax on stock-based incentive awards (8,014) (5,170) [1] 0 [1]
Issue cost of debt facility (7,905) 0 [1] 0 [1]
Cash dividends paid (212,752) (201,405) [1] (190,788) [1]
Net cash provided (required) by financing activities (548,323) (565,946) [1] 67,029 [1]
Effect of exchange rate changes on cash and cash equivalents (4,660) 881 [1] 35,279 [1]
Net increase (decrease) in cash and cash equivalents (21,952) 234,681 [1] (364,966) [1]
Cash and cash equivalents at January 1 535,825 [1] 301,144 [1] 666,110 [1]
Cash and cash equivalents at December 31 $ 513,873 $ 535,825 [1] $ 301,144 [1]
[1] Reclassified to conform to current presentation.
[2] Excludes nonrecourse seller financing of $82 million related to the Company's acquisition of the Hankinson, North Dakota, ethanol plant in 2009.
[3] Investments are Canadian government securities with maturities greater than 90 days at the date of acquisition.