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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOW FROM OPERATING ACTIVITIES      
Net income $ 3,078 $ 4,696 $ 13,304
Adjustments to reconcile net income to net cash from operating activities:      
Discontinued operations, net (182) 0 0
Depreciation, depletion and amortization of assets 7,371 6,865 6,926
Deferred income tax provision (benefit) (461) 57 (1,644)
Other noncash charges (benefit) to income 543 (100) (8)
Asset impairments and related items 1,281 209 0
Losses (gains) on sales of assets and other, net 60 (522) (308)
Undistributed losses (earnings) from equity investments (79) 144 (219)
Dry hole expense 106 299 84
Changes in operating assets and liabilities:      
(Increase) decrease in trade receivables (133) 1,088 (97)
Increase in inventories (46) (91) (230)
(Increase) decrease in joint interest receivables and other current assets 303 (13) (335)
Decrease in accounts payable and accrued liabilities (661) (549) (478)
Increase (decrease) in current domestic and foreign income taxes 559 225 (185)
Operating cash flow from continuing operations 11,739 12,308 16,810
Operating cash flow from discontinued operations (300) 0 0
Net cash provided by operating activities 11,439 12,308 16,810
CASH FLOW FROM INVESTING ACTIVITIES      
Capital expenditures (7,018) (6,270) (4,497)
Change in capital accrual 96 25 147
Purchases of assets, businesses and equity investments, net (9,129) (713) (990)
Proceeds from sale of assets and equity investments, net 1,673 448 584
Equity investments and other, net (212) (470) (116)
Net cash used by investing activities (14,590) (6,980) (4,872)
CASH FLOW FROM FINANCING ACTIVITIES      
Draws on receivables securitization facility 0 900 400
Payment of receivables securitization facility 0 (900) (400)
Proceeds from long-term debt, net 9,612 (46) 0
Payments of long-term debt, net (4,514) (22) (9,484)
Redemption of preferred stock 0 (1,661) 0
Purchases of treasury stock (27) (1,798) (3,099)
Cash dividends paid on common and preferred stock (1,446) (1,365) (1,184)
Proceeds from issuance of common stock 584 135 293
Contributions from noncontrolling interest 200 100 0
Financing portion of net cash paid for derivative instruments 0 0 (111)
Deferred payments for purchases of assets and businesses (318) 0 0
Other financing, net (247) (233) (130)
Net cash provided (used) by financing activities 3,844 (4,890) (13,715)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 693 438 (1,777)
Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of year 1,464 1,026 2,803
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of year $ 2,157 $ 1,464 $ 1,026