Information Relating to the Consolidated Statement of Cash Flows

9 Months Ended

Sep. 30, 2022

Supplemental Cash Flow Elements [Abstract]

Information Relating to the Consolidated Statement of Cash Flows

Information Relating to the Consolidated Statement of Cash Flows

	Nine Months Ended September 30
	2022		2021
	(Millions of dollars)
Distributions more (less) than income from equity affiliates includes the following:
Distributions from equity affiliates	$	2,194	$	1,838
(Income) loss from equity affiliates	(6,962)		(4,000)
Distributions more (less) than income from equity affiliates	$	(4,768)	$	(2,162)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	$	(4,428)	$	(5,692)
Decrease (increase) in inventories	(2,170)		(353)
Decrease (increase) in prepaid expenses and other current assets	(479)		(94)
Increase (decrease) in accounts payable and accrued liabilities	5,282		3,842
Increase (decrease) in income and other taxes payable	2,967		838
Net decrease (increase) in operating working capital	$	1,172	$	(1,459)
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	$	320	$	427
Income taxes	6,750		2,943
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	$	1,406	$	563
Returns of investment from equity affiliates	1,079		23
Proceeds and deposits related to asset sales and returns of investment	$	2,485	$	586
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	$	(9)	$	(3)
Marketable securities sold	91		2
Net sales (purchases) of marketable securities	$	82	$	(1)
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts:
Borrowing of loans by equity affiliates	$	(27)	$	—
Repayment of loans by equity affiliates	65		389
Net repayment (borrowing) of loans by equity affiliates	$	38	$	389
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations	$	—	$	4,449
Repayments of short-term obligations	—		(6,225)
Net borrowings (repayments) of short-term obligations with three months or less maturity	278		(1,851)
Net borrowings (repayments) of short-term obligations	$	278	$	(3,627)
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	$	5,505	$	388
Shares purchased under share repurchase and deferred compensation plans	(7,505)		(633)
Net sales (purchases) of treasury shares	$	(2,000)	$	(245)
Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts:
Distributions to noncontrolling interests	$	(107)	$	(51)
Contributions from noncontrolling interests	4		17
Net contributions from (distributions to) noncontrolling interests	$	(103)	$	(34)

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 $1.42 per share of common stock in third quarter 2022. This compares to dividends of $1.34 per share paid in the year-ago corresponding period.

The components of “Capital expenditures” are presented in the following table:

	Nine Months Ended September 30
	2022		2021
	(Millions of dollars)
Additions to properties, plant and equipment	$	6,901	$	5,087
Additions to investments	932		309
Current-year dry hole expenditures	137		55
Payments for other assets and liabilities, net	169		(1)
Capital expenditures	$	8,139	$	5,450

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
	2022		2021		2021		2020
	(Millions of dollars)
Cash and cash equivalents	$	15,164	$	5,998	$	5,640	$	5,596
Restricted cash included in “Prepaid expenses and other current assets”	742		246		333		365
Restricted cash included in “Deferred charges and other assets”	791		781		822		776
Total cash, cash equivalents and restricted cash	$	16,697	$	7,025	$	6,795	$	6,737

Additional information related to restricted cash is included in Note 13 Fair Value Measurements under the heading “Restricted Cash.”