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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income (loss) $ 946 $ (1,451) $ 480
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 2,066 2,316 2,397
Impairments 60 144 24
Exploratory dry well costs and unproved property impairments 125 159 114
Net (gain) loss on disposal of assets 19 (9) (50)
Loss on early extinguishment of debt 121 28 3
Deferred income taxes (27) (22) (34)
Unrealized (gain) loss on derivative instruments, net (16) 27 124
Pension and other post retirement benefits, net (31) (43) (52)
Stock-based compensation 40 57 60
Equity method investments, net (76) 210 18
Changes in:      
Current receivables (389) 367 52
Inventories (1) (4) 3
Current accounts payable and accrued liabilities 369 (381) (187)
Other current assets and liabilities 46 75 (4)
All other operating, net (13) 0 (199)
Net cash provided by operating activities 3,239 1,473 2,749
Investing activities:      
Additions to property, plant and equipment (1,046) (1,343) (2,550)
Additions to other assets 0 15 36
Acquisitions, net of cash acquired (47) (1) (293)
Disposal of assets, net of cash transferred to the buyer 22 18 (76)
Equity method investments - return of capital 61 7 64
All other investing, net 0 1 1
Net cash used in investing activities (1,010) (1,303) (2,818)
Financing activities:      
Borrowings 0 400 600
Debt repayments (1,400) (500) (600)
Debt extinguishment costs (117) (27) (2)
Purchases of common stock (734) (92) (362)
Dividends paid (141) (64) (162)
All other financing, net 1 (3) (9)
Net cash used in financing activities (2,391) (286) (535)
Net increase (decrease) in cash and cash equivalents (162) (116) (604)
Cash and cash equivalents at beginning of period 742 858 1,462
Cash and cash equivalents at end of period $ 580 $ 742 $ 858