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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 26 $ 1,389
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 399 390
Deferred income tax expense 7 378
Derivative gains, net (172) (930)
Cash receipts (payments) on derivative settlements, net 228 (285)
Share-based compensation 9 7
Gains on sales of assets (8) (335)
Other (13) 12
Changes in assets and liabilities 76 263
Net cash provided by operating activities 552 889
Cash flows from investing activities:    
Capital expenditures (421) (497)
Receipts of deferred consideration 60 0
Contributions to investments (19) (39)
Proceeds from divestitures of property and equipment 6 931
Net cash provided by (used in) investing activities (374) 395
Cash flows from financing activities:    
Proceeds from Credit Facility 0 1,000
Payments on Credit Facility 0 (2,050)
Cash paid to repurchase and retire common stock 0 (54)
Cash paid for common stock dividends (77) (175)
Net cash used in financing activities (77) (1,279)
Net increase in cash, cash equivalents and restricted cash 101 5
Cash, cash equivalents and restricted cash, beginning of period 1,153 192
Cash, cash equivalents and restricted cash, end of period 1,254 197
Cash and cash equivalents 1,179 130
Restricted cash 75 67
Total cash, cash equivalents and restricted cash 1,254 197
Supplemental cash flow information:    
Interest paid, net of capitalized interest 20 41
Income taxes paid (refunds received), net 0 0
Supplemental disclosure of significant non-cash investing and financing activities:    
Operating lease obligations recognized 0 48
Change in accrued drilling and completion costs    
Supplemental disclosure of significant non-cash investing and financing activities:    
Change in accrued drilling and completion costs $ (59) $ 56