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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOW FROM OPERATING ACTIVITIES    
Net income $ 2,123 $ 8,631
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization of assets 3,430 3,371
Deferred income tax provision (benefit) 98 (2,037)
Asset impairments and other charges 209 0
Gains on sales of assets, net (5) (158)
Noncash charges to income and other (51) (481)
Changes in operating assets and liabilities:    
(Increase) decrease in receivables 1,432 (2,155)
(Increase) decrease in inventories (75) 287
(Increase) decrease in other current assets (347) 12
Increase (decrease) in accounts payable and accrued liabilities (1,007) 771
Increase in current domestic and foreign income taxes 133 327
Net cash provided by operating activities 5,940 8,568
CASH FLOW FROM INVESTING ACTIVITIES    
Capital expenditures (3,107) (1,830)
Change in capital accrual 5 (68)
Purchases of businesses and assets, net (140) (309)
Proceeds from sales of assets, net 80 324
Equity investments and other, net (375) (72)
Net cash used by investing activities (3,537) (1,955)
CASH FLOW FROM FINANCING ACTIVITIES    
Draws on receivables securitization facility 0 400
Payment of receivables securitization facility 0 (400)
Payments of long-term debt, net (22) (7,108)
Proceeds from issuance of common stock 37 117
Redemption of preferred stock (982) 0
Purchases of treasury stock (1,177) (568)
Cash dividends paid on common and preferred stock (688) (539)
Financing portion of net cash received for derivative instruments 0 140
Other financing, net (64) (57)
Net cash used by financing activities (2,896) (8,015)
Decrease in cash, cash equivalents, restricted cash and restricted cash equivalents (493) (1,402)
Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of period 1,026 2,803
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of period $ 533 $ 1,401