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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOW FROM OPERATING ACTIVITIES    
Net income (loss) $ 8,631 $ (43)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Discontinued operations, net 0 442
Depreciation, depletion and amortization of assets 3,371 4,565
Deferred income tax benefit (2,037) (212)
Asset impairments and other charges 0 156
Gain on sales of assets, net (158) (114)
Other noncash reconciling items (481) 51
Changes in operating assets and liabilities:    
Increase in receivables (2,155) (1,179)
Decrease in inventories 287 58
(Increase) decrease in other current assets 12 (105)
Increase in accounts payable and accrued liabilities 771 475
Increase in current domestic and foreign income taxes 327 18
Operating cash flow from continuing operations 8,568 4,112
Operating cash flow from discontinued operations, net of taxes 0 112
Net cash provided by operating activities 8,568 4,224
CASH FLOW FROM INVESTING ACTIVITIES    
Capital expenditures (1,830) (1,277)
Change in capital accrual (68) (94)
Purchases of businesses and assets, net (309) (113)
Proceeds from sales of assets, net 324 503
Equity investments and other, net (72) (27)
Investing cash flow from continuing operations (1,955) (1,008)
Investing cash flow from discontinued operations 0 (28)
Net cash used by investing activities (1,955) (1,036)
CASH FLOW FROM FINANCING ACTIVITIES    
Draws on receivables securitization facility 400 0
Payment of receivables securitization facility (400) 0
Payments of long-term debt (7,108) (174)
Proceeds from issuance of common stock 117 11
Purchases of treasury stock (568) (3)
Cash dividends paid on common and preferred stock (539) (420)
Financing portion of net cash received for derivative instruments 140 2
Other financing, net (57) (27)
Financing cash flow from continuing operations (8,015) (611)
Financing cash flow from discontinued operations 0 (5)
Net cash used by financing activities (8,015) (616)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (1,402) 2,572
Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of period 2,803 2,194
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of period $ 1,401 $ 4,766