XML 25 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net income $ 2,868 $ 2,555 $ 2,133
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,646 1,326 1,220
Inventory market valuation charge 370 0 0
Pension and other postretirement benefits, net 80 151 (124)
Deferred income taxes 134 (242) 23
Net gain on disposal of assets 7 21 6
Equity method investments, net 25 17 (18)
Changes in the fair value of derivative instruments 4 (3) (21)
Changes in:      
Current receivables 1,292 1,642 (940)
Inventories 80 (786) (305)
Current accounts payable and accrued liabilities (2,400) (1,547) 1,464
All other, net (31) 18 (21)
Net cash provided by operating activities 4,061 3,110 3,405
Investing activities:      
Additions to property, plant and equipment (1,998) (1,480) (1,206)
Acquisitions, net of cash acquired (1,218) (2,821) (1,515)
Disposal of assets 21 27 16
Investments – acquisitions, loans and contributions (331) (413) (151)
Investments—redemptions, repayments and return of capital 4 9 77
All other, net 81 135 23
Net cash used in investing activities (3,441) (4,543) (2,756)
Financing activities:      
Long-term debt – borrowings 2,993 3,793 0
Long-term debt – repayments (2,226) (548) (21)
Debt issuance costs (21) (22) (4)
Issuance of common stock 33 26 48
Common stock repurchased (965) (2,131) (2,793)
Dividends paid (613) (524) (484)
Net proceeds from issuance of MPLX LP common units 0 221 0
Distributions to noncontrolling interests (40) (27) (21)
Tax settlement with Marathon Oil Corporation 0 0 39
Contingent consideration payment (175) (172) 0
All other, net 27 19 19
Net cash provided by (used in) financing activities (987) 635 (3,217)
Net decrease in cash and cash equivalents (367) (798) (2,568)
Cash and cash equivalents at beginning of period 1,494 2,292 4,860
Cash and cash equivalents at end of period $ 1,127 $ 1,494 $ 2,292