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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 755 $ (10,796)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Impairments and other charges   12,247
Depreciation and amortization [1] 1,058 1,396
Deferred taxes (18) (1,050)
Stock-based compensation expense 156 213
Earnings of equity method investments, less dividends received (15) (26)
Change in assets and liabilities:    
(Increase) decrease in receivables [2] (114) 1,910
Decrease (increase) in inventories [2] 86 (74)
Decrease in other current assets [2] 538 129
(Increase) decrease in other assets [2] (28) 16
Decrease in accounts payable and accrued liabilities [2] (700) (2,204)
Decrease in estimated liability for taxes on income [2] (91) (184)
Increase (decrease) in other liabilities [2] 13 (42)
Other [2] 9 52
NET CASH PROVIDED BY OPERATING ACTIVITIES 1,649 1,587
Cash flows from investing activities:    
Capital expenditures (421) (658)
APS investments (188) (224)
Multiclient seismic data costs capitalized (12) (61)
Business acquisitions and investments, net of cash acquired (35) (30)
Net proceeds from divestitures   298
Sale (purchase) of investments, net 921 (1,099)
Other (39) (85)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 226 (1,859)
Cash flows from financing activities:    
Dividends paid (349) (1,386)
Proceeds from employee stock purchase plan 62 85
Stock repurchase program   (26)
Proceeds from issuance of long-term debt 34 4,985
Repayment of long-term debt (887) (3,070)
Net (decrease) increase in short-term borrowings (83) 73
Other (59) (51)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (1,282) 610
Net increase in cash before translation effect 593 338
Translation effect on cash 2 (13)
Cash, beginning of period 844 1,137
Cash, end of period $ 1,439 $ 1,462
[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.