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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (170) $ 412
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depletion, depreciation and amortization 1,243 1,271
Impairment of inventory and other property and equipment 2 34
Exploration expenses, including dry holes 8 6
Deferred income taxes (8) 127
(Gain) loss on disposition of assets, net (7) 477
Loss on early extinguishment of debt 27 0
Accretion of discount on asset retirement obligations 7 7
Interest expense 34 4
Derivative-related activity 28 (116)
Amortization of stock-based compensation 54 81
Investment in affiliate valuation adjustment 119 22
South Texas contingent consideration valuation adjustment 42 61
South Texas deficiency fee obligation 69 0
Other 94 96
Change in operating assets and liabilities:    
Accounts receivable 371 (47)
Inventories 13 (55)
Other assets 22 (15)
Accounts payable (164) 1
Interest payable (37) (29)
Other liabilities (201) (50)
Net cash provided by operating activities 1,546 2,287
Cash flows from investing activities:    
Proceeds from disposition of assets 58 82
Proceeds from investments 0 568
Purchase of investments (1) 0
Additions to oil and gas properties (1,297) (2,380)
Additions to other assets and other property and equipment (102) (184)
Net cash used in investing activities (1,342) (1,914)
Cash flows from financing activities:    
Proceeds from issuance of senior notes, net of discount 1,091 0
Proceeds from issuance of convertible senior notes 1,323 0
Purchase of derivatives related to issuance of convertible senior notes (113) 0
Borrowing under credit facility 800 0
Repayment of credit facility (800) 0
Repayment of senior notes, including tender offer premiums (1,198) 0
Payments of other liabilities (162) (10)
Payments of financing fees, net (36) 0
Purchases of treasury stock (174) (627)
Exercise of long-term incentive plan stock options and employee stock purchases 6 6
Dividends paid (255) (54)
Net cash provided by (used in) financing activities 482 (685)
Net increase (decrease) in cash, cash equivalents and restricted cash 686 (312)
Cash, cash equivalents and restricted cash, beginning of period 705 825
Cash, cash equivalents and restricted cash, end of period $ 1,391 $ 513