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STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities    
Net income (loss) $ 505 $ 336
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
(Gains) on asset sales, net (22) 0
Depreciation, depletion and amortization 337 396
Exploration lease and other impairment 6 4
Pension settlement loss 0 1
Stock compensation expense 33 25
Noncash (gains) losses on commodity derivatives, net 55 24
Provision (benefit) for deferred income taxes and other tax accruals 38 29
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (642) (329)
(Increase) decrease in inventories (20) 159
Increase (decrease) in accounts payable and accrued liabilities 81 (127)
Increase (decrease) in taxes payable (399) 87
Changes in other operating assets and liabilities (128) (14)
Net cash provided by (used in) operating activities (156) 591
Cash Flows From Investing Activities    
Additions to property, plant and equipment - E&P (491) (358)
Additions to property, plant and equipment - Midstream (55) (27)
Proceeds from asset sales, net of cash sold 24 0
Net cash provided by (used in) investing activities (522) (385)
Cash Flows From Financing Activities    
Net borrowings (repayments) of debt with maturities of 90 days or less 1 (10)
Debt with maturities of greater than 90 days – Borrowings 0 0
Debt with maturities of greater than 90 days - Repayments (505) (3)
Proceeds from sale of Class A shares of Hess Midstream LP 0 70
Payments on finance lease obligations (2) (2)
Cash dividends paid (119) (80)
Employee stock options exercised 33 12
Noncontrolling interests, net (74) (67)
Other, net 1 1
Net cash provided by (used in) financing activities (665) (79)
Net Increase (Decrease) in Cash and Cash Equivalents (1,343) 127
Cash and Cash Equivalents at Beginning of Year 2,713 1,739
Cash and Cash Equivalents at End of Period $ 1,370 $ 1,866