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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows from Operating Activities  
Net income (loss)$ (2,229)$ 692
Adjustments to reconcile net income (loss) to net cash provided by operating activities:  
Depreciation, depletion, and amortization2,9022,845
Deferred income taxes(1,195)(142)
Dry hole expense and impairments of unproved properties423473
Impairments287147
(Gains) losses on divestitures, net243(12)
Unrealized (gains) losses on derivatives, net767(66)
Deepwater Horizon settlement and related costs4,055[1]2[1]
Other151145
Changes in assets and liabilities:  
(Increase) decrease in accounts receivable(939)15
Increase (decrease) in accounts payable and accrued expenses215(293)
Other items - net(88)126
Net cash provided by (used in) operating activities4,5923,932
Cash Flows from Investing Activities  
Additions to properties and equipment and dry hole costs(4,110)(3,563)
Acquisition of midstream businesses(802) 
Divestitures of properties and equipment and other assets7544
Other - net(52)(30)
Net cash provided by (used in) investing activities(4,889)(3,549)
Cash Flows from Financing Activities  
Borrowings, net of issuance costs1,0513,199
Repayments of debt(1,154)(1,173)
Repayment of midstream subsidiary note payable to a related party (1,599)
Increase (decrease) in accounts payable, banks39(70)
Dividends paid(135)(136)
Repurchase of common stock(31)(35)
Issuance of common stock, including tax benefit on stock option exercises5790
Sale of subsidiary units32897
Distributions to noncontrolling interest owners(57)(36)
Other financing activities9(24)
Net cash provided by (used in) financing activities107313
Effect of Exchange Rate Changes on Cash(3)(9)
Net Increase (Decrease) in Cash and Cash Equivalents(193)687
Cash and Cash Equivalents at Beginning of Period3,6803,531
Cash and Cash Equivalents at End of Period$ 3,487$ 4,218
[1]In the third quarter of 2011, the Company revised the definition of Adjusted EBITDAX to exclude the Deepwater Horizon settlement and related costs. The prior periods have been adjusted to reflect this change.