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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOW FROM OPERATING ACTIVITIES    
Net income $ 1,266 $ 1,556
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization of assets 2,004 1,868
Deferred income tax provision 47 171
Other noncash charges to income 351 96
Asset impairments and related items 0 42
Gain on sale of assets, net (22) (43)
Undistributed earnings from equity investments (64) (20)
Dry hole expenses 21 15
Changes in operating assets and liabilities, net (642) (920)
Net cash provided by operating activities 2,961 2,765
CASH FLOW FROM INVESTING ACTIVITIES    
Capital expenditures (2,470) (2,319)
Change in capital accrual (108) (6)
Payments for purchases of assets and businesses (76) (242)
Sales of assets, net 32 330
Equity investments and other, net (81) (49)
Net cash used by investing activities (2,703) (2,286)
CASH FLOW FROM FINANCING ACTIVITIES    
Proceeds from long-term debt, net of issuance costs (108) 978
Payments of long-term debt 0 (500)
Preferred stock issuance costs (50) 0
Proceeds from issuance of common stock 37 13
Purchase of treasury stock (237) (97)
Cash dividends paid (1,178) (1,185)
Other financing, net (4) 2
Net cash used by financing activities (1,540) (789)
Decrease in cash and cash equivalents (1,282) (310)
Cash and cash equivalents — beginning of period 3,033 1,672
Cash and cash equivalents — end of period $ 1,751 $ 1,362