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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 886 $ 1,837
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 764 774
Deferred income tax expense 27 101
(Gain) loss on sale of assets (5) 1
(Gain) loss on derivative instruments (126) 457
Net cash received (paid) in settlement of derivative instruments 184 (464)
Amortization of debt premium and debt issuance costs (10) (19)
Stock-based compensation and other 24 38
Changes in assets and liabilities:    
Accounts receivable, net 617 (489)
Income taxes 71 (200)
Inventories (2) (9)
Other current assets (6) (6)
Accounts payable and accrued liabilities (336) 147
Interest payable 0 1
Other assets and liabilities 52 32
Net cash provided by operating activities 2,140 2,201
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures for drilling, completion and other fixed asset additions (1,075) (741)
Capital expenditures for leasehold and property acquisitions (6) (4)
Proceeds from sale of assets 33 4
Net cash used in investing activities (1,048) (741)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of finance leases (3) (3)
Common stock repurchases (325) (487)
Dividends paid (588) (940)
Cash received for stock option exercises 0 10
Cash paid for conversion of redeemable preferred stock (1) (10)
Tax withholding on vesting of stock awards (1) (7)
Capitalized debt issuance costs (7) 0
Net cash used in financing activities (925) (1,437)
Net increase in cash, cash equivalents and restricted cash 167 23
Cash, cash equivalents and restricted cash, beginning of period 683 1,046
Cash, cash equivalents and restricted cash, end of period $ 850 $ 1,069