Information Relating to the Consolidated Statement of Cash Flows

6 Months Ended

Jun. 30, 2020

Supplemental Cash Flow Elements [Abstract]

Information Relating to the Consolidated Statement of Cash Flows


	Six Months Ended June 30
	2020		2019
	(Millions of dollars)
Distributions less than income from equity affiliates includes the following:
Distributions from equity affiliates	$	728	$	971
(Income) loss from equity affiliates	1,550		(2,258)
Distributions less than income from equity affiliates	$	2,278	$	(1,287)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	$	4,769	$	910
Decrease (increase) in inventories	371		(878)
Decrease (increase) in prepaid expenses and other current assets	392		(303)
Increase (decrease) in accounts payable and accrued liabilities	(4,812)		284
Increase (decrease) in income and other taxes payable	(1,093)		(292)
Net decrease (increase) in operating working capital	$	(373)	$	(279)
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	$	328	$	443
Income taxes	2,142		2,590
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	$	1,821	$	891
Returns of investment from equity affiliates	31		46
Proceeds and deposits related to asset sales and returns of investment	$	1,852	$	937
Net maturities of (investments in) time deposits consisted of the following gross amounts:
Investments in time deposits	$	—	$	—
Maturities of time deposits	—		950
Net maturities of (investments in) time deposits	$	—	$	950
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	$	(1)	$	(1)
Marketable securities sold	—		3
Net sales (purchases) of marketable securities	$	(1)	$	2
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts:
Borrowing of loans by equity affiliates	$	(1,100)	$	(675)
Repayment of loans by equity affiliates	26		55
Net repayment (borrowing) of loans by equity affiliates	$	(1,074)	$	(620)
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations	$	7,922	$	614
Repayments of short-term obligations	(2,150)		(366)
Net borrowings (repayments) of short-term obligations with three months or less maturity	(3,201)		(437)
Net borrowings (repayments) of short-term obligations	$	2,571	$	(189)
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	$	201	$	699
Shares purchased under share repurchase and deferred compensation plans	(1,751)		(1,539)
Net sales (purchases) of treasury shares	$	(1,550)	$	(840)

The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash.

The “Other” line in the Operating Activities section includes changes in postretirement benefits obligations and other long-term liabilities.

The company paid dividends of $1.29 per share of common stock in second quarter 2020. This compares to dividends of $1.19 per share paid in the corresponding year-ago period.

The major components of “Capital expenditures” and the reconciliation of this amount to the reported capital and exploratory expenditures, including equity affiliates, are presented in the following table:


	Six Months Ended June 30
	2020		2019
	(Millions of dollars)
Additions to properties, plant and equipment	$	4,991	$	6,381
Additions to investments	44		40
Current-year dry hole expenditures	223		103
Payments for other assets and liabilities, net	(33)		13
Capital expenditures	5,225		6,537
Expensed exploration expenditures	208		207
Assets acquired through finance lease obligations and other financing obligations	6		147
Payments for other assets and liabilities, net	33		(13)
Capital and exploratory expenditures, excluding equity affiliates	5,472		6,878
Company’s share of expenditures by equity affiliates	2,258		3,144
Capital and exploratory expenditures, including equity affiliates	$	7,730	$	10,022

The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet:


	At June 30						At December 31
	2020		2019		2019		2018
	(Millions of dollars)
Cash and Cash Equivalents	$	6,855	$	8,513	$	5,686	$	9,342
Restricted cash included in “Prepaid expenses and other current assets”	161		428		452		341
Restricted cash included in “Deferred charges and other assets”	763		750		773		798
Total Cash, Cash Equivalents and Restricted Cash	$	7,779	$	9,691	$	6,911	$	10,481

Additional information related to “Restricted Cash” is included on page 20 in Note 14 under the heading “Restricted Cash.”