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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 1,850 $ 1,356
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 1,148 1,300
Deferred income tax expense 319 19
Derivative (gains) losses, net (1,195) 3,668
Cash receipts (payments) on derivative settlements, net 167 (2,845)
Share-based compensation 25 16
Gains on sales of assets (807) (298)
Exploration 9 10
Other 26 19
Changes in assets and liabilities 368 (170)
Net cash provided by operating activities 1,910 3,075
Cash flows from investing activities:    
Capital expenditures (1,450) (1,299)
Business combination, net 0 (1,967)
Contributions to investments (149) 0
Proceeds from divestitures of property and equipment 1,967 409
Net cash provided by (used in) investing activities 368 (2,857)
Cash flows from financing activities:    
Proceeds from New Credit Facility 1,125 0
Payments on New Credit Facility (2,175) 0
Proceeds from Exit Credit Facility 0 7,255
Payments on Exit Credit Facility 0 (6,805)
Funds held for transition services 91 0
Proceeds from warrant exercise 0 3
Cash paid to repurchase and retire common stock (313) (667)
Cash paid for common stock dividends (412) (788)
Net cash used in financing activities (1,684) (1,002)
Net increase (decrease) in cash, cash equivalents and restricted cash 594 (784)
Cash, cash equivalents and restricted cash, beginning of period 192 914
Cash, cash equivalents and restricted cash, end of period 786 130
Cash and cash equivalents 713 74
Restricted cash 73 56
Total cash, cash equivalents and restricted cash 786 130
Supplemental cash flow information:    
Interest paid, net of capitalized interest 90 107
Income taxes paid (refunds) received, net (18) 181
Supplemental disclosure of significant non-cash investing and financing activities:    
Common stock issued for business combination 0 764
Operating lease obligations recognized 65 25
Change in accrued drilling and completion costs    
Supplemental disclosure of significant non-cash investing and financing activities:    
Change in accrued drilling and completion costs $ (39) $ 193