Other Financial Information

12 Months Ended

Dec. 31, 2023

Other Financial Information [Abstract]

Other Financial Information

Note M – Other Financial Information

GAIN FROM FOREIGN CURRENCY TRANSACTIONS – Net gains (losses) from foreign currency transactions, including the effects of foreign currency contracts, included in the Consolidated Statements of Operations were $10.8 million loss in 2023, $23.0 million gain in 2022 and $1.0 million gain in 2021.

Noncash operating working capital (increased) decreased during each of the three years presented as shown in the following table.

(Thousands of dollars)	2023		2022		2021
Net (increase) decrease in operating working capital, excluding cash and cash equivalents:
(Increase) decrease in accounts receivable	$	47,151	$	(137,228)	$	8,056
(Increase) decrease in inventories	329		(1,534)		12,809
(Increase) decrease in prepaid expenses	(1,293)		(3,413)		2,003
Increase (decrease) in accounts payable and accrued liabilities ¹	(140,011)		69,854		95,166
Increase (decrease) in income taxes payable	(5,537)		6,593		423
Net (increase) decrease in noncash operating working capital	$	(99,361)	$	(65,728)	$	118,457
Supplementary disclosures:
Cash income taxes paid, net of refunds	$	12,356	$	24,853	$	2,138
Interest paid, net of amounts capitalized of $14.5 million in 2023, $16.3 million in 2022 and $16.1 million in 2021	108,912		149,957		165,699
Non-cash investing activities:
Asset retirement costs capitalized	$	32,975	$	(21,147)	$	54,439
(Increase) decrease in capital expenditure accrual	17,517		(31,397)		9,788

1  Excludes receivable/payable balances relating to mark-to-market of crude contracts.