Information Relating to the Consolidated Statement of Cash Flows

9 Months Ended

Sep. 30, 2020

Supplemental Cash Flow Elements [Abstract]

Information Relating to the Consolidated Statement of Cash Flows


	Nine Months Ended September 30
	2020		2019
	(Millions of dollars)
Distributions more (less) than income from equity affiliates includes the following:
Distributions from equity affiliates	$	1,209	$	1,533
(Income) loss from equity affiliates	1,040		(3,430)
Distributions more (less) than income from equity affiliates	$	2,249	$	(1,897)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	$	3,601	$	2,254
Decrease (increase) in inventories	201		(20)
Decrease (increase) in prepaid expenses and other current assets	632		(286)
Increase (decrease) in accounts payable and accrued liabilities	(3,609)		(981)
Increase (decrease) in income and other taxes payable	(846)		159
Net decrease (increase) in operating working capital	$	(21)	$	1,126
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	$	384	$	579
Income taxes	2,527		3,516
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	$	1,912	$	1,021
Returns of investment from equity affiliates	67		67
Proceeds and deposits related to asset sales and returns of investment	$	1,979	$	1,088
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	$	(2)	$	(1)
Marketable securities sold	37		3
Net sales (purchases) of marketable securities	$	35	$	2
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts:
Borrowing of loans by equity affiliates	$	(3,925)	$	(1,050)
Repayment of loans by equity affiliates	2,491		80
Net repayment (borrowing) of loans by equity affiliates	$	(1,434)	$	(970)
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations	$	8,863	$	1,821
Repayments of short-term obligations	(7,479)		(570)
Net borrowings (repayments) of short-term obligations with three months or less maturity	(1,990)		722
Net borrowings (repayments) of short-term obligations	$	(606)	$	1,973
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	$	206	$	944
Shares purchased under share repurchase and deferred compensation plans	(1,751)		(2,789)
Net sales (purchases) of treasury shares	$	(1,545)	$	(1,845)

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 third quarter 2020 and $3.87 per share in the first nine months of 2020. This compares to dividends of $1.19 and $3.57 per share paid in the corresponding year-ago periods.

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:


	Nine Months Ended September 30
	2020		2019
	(Millions of dollars)
Additions to properties, plant and equipment	$	6,576	$	9,713
Additions to investments	86		69
Current-year dry hole expenditures	226		111
Payments for other assets and liabilities, net	(33)		13
Capital expenditures	6,855		9,906
Expensed exploration expenditures	322		361
Assets acquired through finance lease obligations and other financing obligations	49		146
Payments for other assets and liabilities, net	33		(13)
Capital and exploratory expenditures, excluding equity affiliates	7,259		10,400
Company’s share of expenditures by equity affiliates	3,063		4,578
Capital and exploratory expenditures, including equity affiliates	$	10,322	$	14,978

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


	At September 30				At December 31
	2020		2019		2019		2018
	(Millions of dollars)
Cash and Cash Equivalents	$	6,866	$	11,697	$	5,686	$	9,342
Restricted cash included in “Prepaid expenses and other current assets”	169		370		452		341
Restricted cash included in “Deferred charges and other assets”	756		753		773		798
Total Cash, Cash Equivalents and Restricted Cash	$	7,791	$	12,820	$	6,911	$	10,481

Additional information related to “Restricted Cash” is included on page 19 in Note 14 under the heading “Restricted Cash.”