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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
OPERATING ACTIVITIES    
Net income $ 284,665 $ 763,243 [1]
Adjustments to reconcile net income to net cash provided by operating activities    
Loss (income) from discontinued operations 27,289 (320,671) [1]
Depreciation, depletion and amortization 855,242 744,526 [1]
Impairment of assets 0 21,587 [1]
Amortization of deferred major repair costs 4,313 4,415 [1]
Dry hole costs 127,827 81,305 [1]
Amortization of undeveloped leases 37,764 32,052 [1]
Accretion of asset retirement obligations 24,392 23,857 [1]
Deferred and noncurrent income tax charges 18,122 72,745 [1]
Pretax loss from disposition of assets 4,997 224 [1]
Net (increase) decrease in noncash operating working capital 48,449 (131,812) [1]
Other operating activities, net 22,106 (22,487) [1]
Net cash provided by continuing operations 1,455,166 1,268,984 [1]
Net cash provided by discontinued operations 4,517 400,026 [1]
Net cash provided by operating activities 1,459,683 1,669,010 [1]
INVESTING ACTIVITIES    
Property additions and dry hole costs (1,840,544) [2] (1,853,902) [1],[2]
Proceeds from sales of assets 3,089 130 [1]
Purchase of investment securities (372,861) [3] (373,196) [1],[3]
Proceeds from maturity of investment securities 320,331 [3] 358,915 [1],[3]
Investing activities of discontinued operations    
Sales proceeds 0 282,202 [1]
Property additions and other (9,092) (122,807) [1]
Other - net (13,007) 1,718 [1]
Net cash required by investing activities (1,912,084) (1,706,940) [1]
FINANCING ACTIVITIES    
Borrowings of long-term debt 850,000 [2] 461,978 [1],[2]
Purchase of treasury stock (375,000) (250,000) [1]
Proceeds from exercise of stock options and employee stock purchase plans 0 2,628 [1]
Withholding tax on stock-based incentive awards (6,784) (8,966) [1]
Cash dividends paid (112,126) (119,376) [1]
Other - net (1,224) (2,724) [1]
Net cash provided by financing activities 354,866 83,540 [1]
Effect of exchange rate changes on cash and cash equivalents 8,466 (18,500) [1]
Net increase (decrease) in cash and cash equivalents (89,069) 27,110 [1]
Cash and cash equivalents, beginning 750,155 947,316 [1]
Cash and cash equivalents, ending $ 661,086 $ 974,426 [1]
[1] Reclassified to conform to current presentation.
[2] Excludes non-cash asset and long-term obligation of $356,170 in 2013 associated with lease commencement for production equipment at the Kakap field offshore Malaysia.
[3] Investments are Canadian government securities with maturities greater than 90 days at the date of acquisition.