XML 37 R6.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
OPERATING ACTIVITIES    
Net income $ 580,516 $ 421,180
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, depletion and amortization 548,156 580,892
Amortization of deferred major repair costs 23,520 16,150
Expenditures for asset retirements (16,441) (25,280)
Dry hole costs 105,307 29,841
Amortization of undeveloped leases 60,530 48,378
Accretion of asset retirement obligations 19,145 15,457
Deferred and noncurrent income tax charges 6,220 33,233
Pretax gain from disposition of assets (23,132) (789)
Net decrease (increase) in noncash operating working capital (455,655) 249,780
Other operating activities, net 69,776 78,901
Net cash provided by operating activities 917,942 1,447,743
INVESTING ACTIVITIES    
Property additions and dry hole costs (1,258,731) (992,256)
Proceeds from sales of assets 27,538 1,792
Purchase of investment securities (675,606) [1] (1,263,026) [1]
Proceeds from maturity of investment securities 754,082 [1] 1,239,290 [1]
Expenditures for major repairs (680) (89,102)
Other - net 6,753 (23,110)
Net cash required by investing activities (1,146,644) (1,126,412)
FINANCING ACTIVITIES    
Borrowings (repayments) of notes payable 594,980 (122,019)
Repayment of nonrecourse debt of a subsidiary 0 (2,269)
Proceeds from exercise of stock options and employee stock purchase plans 7,900 14,798
Excess tax benefits related to exercise of stock options 4,068 483
Withholding tax on stock-based incentive awards (8,014) (5,170)
Issue cost of debt facility (7,672) 0
Cash dividends paid (106,312) (95,700)
Net cash provided (required) by financing activities 484,950 (209,877)
Effect of exchange rate changes on cash and cash equivalents 9,173 (13,778)
Net increase in cash and cash equivalents 265,421 97,676
Cash and cash equivalents, beginning 535,825 301,144
Cash and cash equivalents, ending $ 801,246 $ 398,820
[1] Investments are Canadian government securities with maturities greater than 90 days at the date of acquisition.