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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOW FROM OPERATING ACTIVITIES    
Net income $ 888 $ 1,263
Adjustments to reconcile net income to net cash provided by operating activities:    
Discontinued operations, net (182) 0
Depreciation, depletion and amortization of assets 1,693 1,721
Deferred income tax provision (benefit) (91) 17
Noncash charges to income and other 138 152
Changes in operating assets and liabilities:    
(Increase) decrease in receivables (76) 1,010
Increase in inventories (110) (248)
(Increase) decrease in other current assets 6 (122)
Decrease in accounts payable and accrued liabilities (454) (1,174)
Increase in current domestic and foreign income taxes 195 251
Net cash provided by operating activities 2,007 2,870
CASH FLOW FROM INVESTING ACTIVITIES    
Capital expenditures (1,783) (1,461)
Change in capital accrual 51 (20)
Purchases of businesses and assets, net (142) (151)
Proceeds from sales of assets, net 98 54
Equity investments and other, net (34) (20)
Net cash used by investing activities (1,810) (1,598)
CASH FLOW FROM FINANCING ACTIVITIES    
Payments of long-term debt, net 0 (22)
Proceeds from issuance of common stock 88 30
Purchases of treasury stock 0 (732)
Cash dividends paid on common and preferred stock (332) (320)
Contribution from noncontrolling interest 57 0
Other financing, net (141) (36)
Net cash used by financing activities (328) (1,080)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (131) 192
Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of period 1,464 1,026
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of period $ 1,333 $ 1,218