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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOW FROM OPERATING ACTIVITIES    
Net income $ 3,498 $ 11,377
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization of assets 5,142 5,107
Deferred income tax provision (benefit) 148 (1,765)
Asset impairments and other charges 209 0
Gains on sales of assets, net (197) (232)
Noncash charges (benefit) to income and other 343 (461)
Changes in operating assets and liabilities:    
Decrease in receivables 609 138
Increase in inventories (44) (96)
Increase in other current assets (367) (313)
Decrease in accounts payable and accrued liabilities (583) (815)
Increase (decrease) in current domestic and foreign income taxes 311 (105)
Net cash provided by operating activities 9,069 12,835
CASH FLOW FROM INVESTING ACTIVITIES    
Capital expenditures (4,726) (2,977)
Change in capital accrual (48) 2
Purchases of businesses and assets, net (220) (466)
Proceeds from sales of assets, net 405 562
Equity investments and other, net (422) (95)
Net cash used by investing activities (5,011) (2,974)
CASH FLOW FROM FINANCING ACTIVITIES    
Draws on receivables securitization facility 900 400
Payment of receivables securitization facility (900) (400)
Payments of long-term debt, net (22) (8,325)
Proceeds from issuance of common stock 92 291
Redemption of preferred stock (1,661) 0
Purchases of treasury stock (1,611) (2,467)
Cash dividends paid on common and preferred stock (1,035) (863)
Financing portion of net cash received for derivative instruments 0 61
Other financing, net (198) (82)
Net cash used by financing activities (4,435) (11,385)
Decrease in cash, cash equivalents, restricted cash and restricted cash equivalents (377) (1,524)
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 $ 649 $ 1,279