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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOW FROM OPERATING ACTIVITIES    
Net income (loss) $ 4,876 $ (146)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Discontinued operations, net 0 445
Depreciation, depletion and amortization of assets 1,643 2,194
Deferred income tax benefit (2,240) (81)
Asset impairments and other charges 0 135
Gain on sales of assets, net (135) (111)
Other noncash reconciling items 34 (301)
Changes in operating assets and liabilities:    
Increase in receivables (1,238) (937)
Decrease (increase) in inventories 439 (311)
Increase in other current assets (158) (82)
Decrease in accounts payable and accrued liabilities (187) (42)
Increase in current domestic and foreign income taxes 205 25
Operating cash flow from continuing operations 3,239 788
Operating cash flow from discontinued operations, net of taxes 0 122
Net cash provided by operating activities 3,239 910
CASH FLOW FROM INVESTING ACTIVITIES    
Capital expenditures (858) (579)
Change in capital accrual (39) (75)
Purchases of businesses and assets, net (29) (105)
Proceeds from sales of assets, net 267 496
Equity investments and other, net (3) (10)
Investing cash flow from continuing operations (662) (273)
Investing cash flow from discontinued operations 0 (9)
Net cash used by investing activities (662) (282)
CASH FLOW FROM FINANCING ACTIVITIES    
Payments of long-term debt (3,259) (174)
Proceeds from issuance of common stock 27 9
Purchases of treasury stock (36) (3)
Cash dividends paid on common and preferred stock (216) (211)
Financing portion of net cash received for derivative instruments 79 45
Other financing, net (24) (18)
Financing cash flow from continuing operations (3,429) (352)
Financing cash flow from discontinued operations 0 (2)
Net cash used by financing activities (3,429) (354)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (852) 274
Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of period 2,803 2,194
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of period $ 1,951 $ 2,468