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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (10,796) $ 923
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Impairments and other charges 12,247  
Depreciation and amortization [1] 1,396 1,841
Deferred taxes (1,050) (101)
Stock-based compensation expense 213 194
Earnings of equity method investments, less dividends received (26)  
Change in assets and liabilities:    
Decrease (increase) in receivables [2] 1,910 (581)
Increase in inventories [2] (74) (332)
Decrease (increase) in other current assets [2] 129 (57)
Decrease (increase) in other assets 16 (16)
Decrease in accounts payable and accrued liabilities [2] (2,204) (422)
Decrease in estimated liability for taxes on income (184) (68)
Decrease in other liabilities [2] (42) (39)
Other [2] 52 92
NET CASH PROVIDED BY OPERATING ACTIVITIES 1,587 1,434
Cash flows from investing activities:    
Capital expenditures (658) (817)
APS investments (224) (332)
Multiclient seismic data costs capitalized (61) (109)
Business acquisitions and investments, net of cash acquired (30) (17)
(Purchase) sale of investments, net (1,099) 464
Net proceeds from asset divestitures 298  
Other (85) (63)
NET CASH USED IN INVESTING ACTIVITIES (1,859) (874)
Cash flows from financing activities:    
Dividends paid (1,386) (1,385)
Proceeds from employee stock purchase plan 85 85
Proceeds from exercise of stock options   21
Stock repurchase program (26) (199)
Proceeds from issuance of long-term debt 4,985 2,350
Repayment of long-term debt (3,070) (1,413)
Net increase (decrease) in short-term borrowings 73 (22)
Other (51) 32
NET CASH PROVIDED BY (USED) IN FINANCING ACTIVITIES 610 (531)
Net increase in cash before translation effect 338 29
Translation effect on cash (13) 4
Cash, beginning of period 1,137 1,433
Cash, end of period $ 1,462 $ 1,466
[1] Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs, and APS investments.
[2] Net of the effect of business acquisitions and divestitures.