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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOW FROM OPERATING ACTIVITIES    
Net income $ 2,058 $ 2,123
Adjustments to reconcile net income to net cash provided by operating activities:    
Discontinued operations, net (182) 0
Depreciation, depletion and amortization of assets 3,468 3,430
Deferred income tax provision (benefit) (135) 98
Asset impairments and other charges 0 209
Gains on sales of assets, net (27) (5)
Noncash charges (benefits) to income and other 308 (51)
Changes in operating assets and liabilities:    
(Increase) decrease in receivables (702) 1,432
Increase in inventories (787) (75)
(Increase) decrease in other current assets 146 (347)
Increase (decrease) in accounts payable and accrued liabilities 47 (1,007)
Increase in current domestic and foreign income taxes 207 133
Net cash provided by operating activities 4,401 5,940
CASH FLOW FROM INVESTING ACTIVITIES    
Capital expenditures (3,554) (3,107)
Change in capital accrual (24) 5
Purchases of assets and equity investments, net (187) (140)
Proceeds from sales of businesses and assets, net 148 80
Equity investments and other, net (64) (375)
Net cash used by investing activities (3,681) (3,537)
CASH FLOW FROM FINANCING ACTIVITIES    
Payments of long-term debt, net 0 (22)
Proceeds from issuance of common stock 504 37
Redemption of preferred stock 0 (982)
Purchases of treasury stock (9) (1,177)
Cash dividends paid on common and preferred stock (698) (688)
Contribution from noncontrolling interest 99 0
Other financing, net (185) (64)
Net cash used by financing activities (289) (2,896)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 431 (493)
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 $ 1,895 $ 533