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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,027 $ 572
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 1,085 879
Deferred income tax expense (benefit) 61 (23)
Gain on sale of assets (4) 0
(Gain) loss on derivatives (120) 16
Net cash received on settlement of derivative instruments 13 62
Amortization of debt premium, discount and debt issuance costs, net (9) (9)
Stock-based compensation and other 30 25
Changes in assets and liabilities:    
Accounts receivable, net 91 (14)
Income taxes (65) (18)
Inventories (8) 14
Other current assets 12 (8)
Accounts payable and accrued liabilities (97) (17)
Interest payable 43 9
Other assets and liabilities 21 (74)
Net cash provided by operating activities 2,080 1,414
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures for drilling, completion and other fixed asset additions (1,092) (936)
Capital expenditures for leasehold and property acquisitions (57) (3)
Cash consideration paid for business combinations, net of cash received (3,222) 0
Purchases of short-term investments 0 (250)
Proceeds from sale of assets 4 1
Other (3) 0
Net cash used in investing activities (4,370) (1,188)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of debt 1,350 499
Repayments of debt (700) 0
Common stock repurchases (47) (290)
Dividends paid (346) (314)
Tax withholding on vesting of stock awards (24) 0
Other (4) (7)
Net cash provided by (used in) financing activities 229 (112)
Net (decrease) increase in cash, cash equivalents and restricted cash (2,061) 114
Cash, cash equivalents and restricted cash, beginning of period 2,277 965
Cash, cash equivalents and restricted cash, end of period $ 216 $ 1,079