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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 2,118 $ (200) $ 773
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depletion, depreciation and amortization 2,498 1,639 1,711
Exploration expenses 4 11 8
Deferred income taxes 583 (52) 240
(Gain) loss on disposition of assets, net 1,067 (9) 477
Loss on early extinguishment of debt 2 27 0
Accretion of discount on asset retirement obligations 7 9 10
Interest expense 10 34 5
Derivative-related activity (451) 325 (8)
Amortization of stock-based compensation 106 72 100
Investment valuation adjustments (1) 64 (15)
South Texas contingent consideration valuation adjustment 0 42 45
South Texas deficiency fee obligation, net (10) 80 0
Other 163 128 143
Change in operating assets and liabilities:      
Accounts receivable (607) 309 (227)
Inventories (125) (20) (20)
Operating lease right-of-use assets 52 64 0
Other assets (73) (40) (33)
Accounts payable 1,059 (179) (7)
Interest payable (53) (19) 0
Income taxes payable 41 1 (1)
Operating leases (55) (95) 0
Other liabilities (276) (108) (86)
Net cash provided by operating activities 6,059 2,083 3,115
Cash flows from investing activities:      
Proceeds from disposition of assets 3,244 60 149
Cash used in acquisitions, net of cash acquired (826) 0 0
Proceeds from investments 0 0 624
Additions to oil and gas properties (3,169) (1,602) (2,988)
Additions to other assets and other property and equipment (118) (126) (232)
Net cash used in investing activities (869) (1,668) (2,447)
Cash flows from financing activities:      
Proceeds from issuance of senior notes, net of discount 3,247 1,091 0
Proceeds from issuance of convertible senior notes 0 1,323 0
Purchase of derivatives related to issuance of convertible senior notes 0 (113) 0
Borrowings under credit facility 650 800 0
Repayment of credit facilities (1,287) (800) 0
Repayment of senior notes, including tender offer premiums (3,371) (1,198) 0
Payments of other liabilities (164) (173) (14)
Payments of financing fees (32) (36) 0
Purchases of treasury stock (269) (176) (653)
Exercise of long-term incentive plan stock options 13 9 6
Dividends paid (1,594) (346) (127)
Net cash provided by (used in) financing activities (2,807) 381 (788)
Net increase (decrease) in cash, cash equivalents and restricted cash 2,383 796 (120)
Cash, cash equivalents and restricted cash, beginning of period 1,501 705 825
Cash, cash equivalents and restricted cash, end of period $ 3,884 $ 1,501 $ 705