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Statement of Consolidated Cash Flows (Unaudited) (USD $)
In Millions
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income$ 3,395$ 2,343
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation, depletion and amortization3,0302,155
Asset retirement obligation accretion11474
Provision for deferred income taxes1,065706
Other(34)109
Changes in operating assets and liabilities:  
Receivables(417)(207)
Inventories(35)(21)
Drilling advances(23)14
Deferred charges and other(54)(137)
Accounts payable119139
Accrued expenses(38)(352)
Deferred credits and noncurrent liabilities49(23)
NET CASH PROVIDED BY OPERATING ACTIVITIES7,1714,800
CASH FLOWS FROM INVESTING ACTIVITIES:  
Additions to oil and gas property(4,758)(3,041)
Additions to gas gathering, transmission and processing facilities(472)(328)
Acquisition of Devon properties (1,018)
Acquisition of BP properties and facilities (2,472)
Acquisitions, other(509)(60)
Proceeds from sale of oil and gas properties202 
Deposit related to acquisition of BP properties (3,500)
Other, net(89)(37)
NET CASH USED IN INVESTING ACTIVITIES(5,626)(10,456)
CASH FLOWS FROM FINANCING ACTIVITIES:  
Commercial paper, credit facility and bank notes, net(940)(37)
Fixed-rate debt borrowings 1,484
Proceeds from issuance of common stock 2,258
Proceeds from issuance of mandatory convertible preferred stock 1,227
Dividends paid(230)(152)
Common stock activity4729
Treasury stock activity, net44
Cost of debt and equity transactions(2)(17)
Other2823
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES(1,093)4,819
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS452(837)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR1342,048
CASH AND CASH EQUIVALENTS AT END OF PERIOD5861,211
SUPPLEMENTARY CASH FLOW DATA:  
Interest paid, net of capitalized interest165176
Income taxes paid, net of refunds$ 1,335$ 969