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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 516 $ 352
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 506 432
Deferred income tax expense (benefit) 11 (22)
Loss on sale of assets 0 1
Loss on derivative instruments 112 0
Net cash (paid) received on settlement of derivative instruments (22) 26
Amortization of debt premium, discount and debt issuance costs (3) (4)
Stock-based compensation and other 15 12
Changes in assets and liabilities:    
Accounts receivable, net (4) (35)
Income taxes 107 100
Inventories (8) 7
Other current assets 10 2
Accounts payable and accrued liabilities (73) (4)
Interest payable 14 (4)
Other assets and liabilities (37) (7)
Net cash provided by operating activities 1,144 856
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures for drilling, completion and other fixed asset additions (472) (457)
Capital expenditures for leasehold and property acquisitions (37) (1)
Cash consideration paid for business combinations (3,219) 0
Purchases of short-term investments 0 (250)
Net cash used in investing activities (3,728) (708)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of debt 1,000 499
Repayments of debt (250) 0
Common stock repurchases (24) (150)
Dividends paid (178) (158)
Tax withholding on vesting of stock awards (21) 0
Other 1 (6)
Net cash provided by financing activities 528 185
Net (decrease) increase in cash, cash equivalents and restricted cash (2,056) 333
Cash, cash equivalents and restricted cash, beginning of period 2,277 965
Cash, cash equivalents and restricted cash, end of period $ 221 $ 1,298