XML 48 R26.htm IDEA: XBRL DOCUMENT v3.3.1.900
Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2015
Supplemental Cash Flow Information [Abstract]  
SUPPLEMENTAL CASH FLOW INFORMATION
18.
SUPPLEMENTAL CASH FLOW INFORMATION

In order to determine net cash provided by operating activities, net income is adjusted by, among other things, changes in current assets and current liabilities as follows (in millions):
 
Year Ended December 31,
 
2015
 
2014
 
2013
Decrease (increase) in current assets:
 
 
 
 
 
Receivables, net
$
1,294

 
$
2,753

 
$
(753
)
Inventories
(222
)
 
(1,014
)
 
(13
)
Income taxes receivable
(104
)
 
(23
)
 
10

Prepaid expenses and other
(45
)
 
(32
)
 
2

Increase (decrease) in current liabilities:
 
 
 
 
 
Accounts payable
(1,787
)
 
(3,149
)
 
977

Accrued expenses
(40
)
 
38

 
53

Taxes other than income taxes
(74
)
 
(64
)
 
337

Income taxes payable
(328
)
 
(319
)
 
309

Changes in current assets and current liabilities
$
(1,306
)
 
$
(1,810
)
 
$
922



The above changes in current assets and current liabilities differ from changes between amounts reflected in the applicable balance sheets for the respective periods for the following reasons:
•
the amounts shown above exclude changes in cash and temporary cash investments, deferred income taxes, and current portion of debt and capital lease obligations, as well as the effect of certain noncash investing and financing activities discussed below;
•
the amounts shown above for the year ended December 31, 2013 exclude the change in current assets and current liabilities resulting from the separation of our retail business as described in Note 3;
•
amounts accrued for capital expenditures and deferred turnaround and catalyst costs are reflected in investing activities when such amounts are paid;
•
amounts accrued for common stock purchases in the open market that are not settled as of the balance sheet date are reflected in financing activities when the purchases are settled and paid; and
•
certain differences between balance sheet changes and the changes reflected above result from translating foreign currency denominated balances at the applicable exchange rates as of each balance sheet date.

Noncash investing and financing activities for the year ended December 31, 2015 included the recognition of a capital lease asset and related obligation associated with an agreement for storage tanks near one of our refineries. Noncash financing activities for the year ended December 31, 2015 also included an accrual of $25 million for the purchase of 347,438 shares of our common stock, which was settled in early January 2016.

There were no significant noncash investing activities for the years ended December 31, 2014 and 2013.

There were no significant noncash financing activities for the year ended December 31, 2014. Noncash financing activities for the year ended December 31, 2013 included the exchange of CST’s senior unsecured bonds and the exchange of all of our remaining shares of CST common stock with third-party financial institutions in satisfaction of our short-term debt agreements as described in Note 10.

Cash flows related to interest and income taxes paid were as follows (in millions):
 
Year Ended December 31,
 
2015
 
2014
 
2013
Interest paid in excess of amount capitalized
$
416

 
$
392

 
$
361

Income taxes paid, net
2,093

 
1,624

 
387



Cash flows related to the discontinued operations of the Aruba Refinery were immaterial for the years ended December 31, 2014 and 2013.