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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net Income $ 2,734,910 $ 3,419,040 $ 2,582,579
Items Not Requiring (Providing) Cash      
Depreciation, Depletion and Amortization 3,749,704 3,435,408 3,409,387
Impairments 517,896 347,021 479,240
Stock-Based Compensation Expenses 174,738 155,337 133,849
Deferred Income Taxes 631,658 894,156 (1,473,872)
(Gains) Losses on Asset Dispositions, Net (123,613) (174,562) 99,096
Other, Net 4,496 7,066 6,546
Dry Hole Costs [1] 28,001 5,405 4,609
Mark-to-Market Commodity Derivative Contracts      
Total (Gains) Losses (180,275) 165,640 (19,828)
Net Cash Received from (Payments for) Settlements of Commodity Derivative Contracts 231,229 (258,906) 7,438
Other, Net 962 3,108 1,204
Changes in Components of Working Capital and Other Assets and Liabilities      
Accounts Receivable (91,792) (368,180) (392,131)
Inventories 90,284 (395,408) (174,548)
Accounts Payable 168,539 439,347 324,192
Accrued Taxes Payable 40,122 (92,461) (63,937)
Other Assets 358,001 (125,435) (658,609)
Other Liabilities (56,619) 10,949 (89,871)
Changes in Components of Working Capital Associated with Investing and Financing Activities (115,061) 301,083 89,992
Net Cash Provided by Operating Activities 8,163,180 7,768,608 4,265,336
Investing Cash Flows      
Additions to Oil and Gas Properties (6,151,885) (5,839,294) (3,950,918)
Additions to Other Property, Plant and Equipment (270,641) (237,181) (173,324)
Proceeds from Sales of Assets 140,292 227,446 226,768
Payments for (Proceeds from) Other Investing Activities (10,000) (19,993) 0
Changes in Components of Working Capital Associated with Investing Activities 115,061 (301,140) (89,935)
Net Cash Used in Investing Activities (6,177,173) (6,170,162) (3,987,409)
Financing Cash Flows      
Long-Term Debt Repayments (900,000) (350,000) (600,000)
Dividends Paid (588,200) (438,045) (386,531)
Treasury Stock Purchased (25,152) (63,456) (63,408)
Proceeds from Stock Options Exercised and Employee Stock Purchase Plan 17,946 20,560 20,840
Debt Issuance Costs (5,016) 0 0
Repayment of Capital Lease Obligation (12,899) (8,219) (6,555)
Other, Net 0 57 (57)
Net Cash Used in Financing Activities (1,513,321) (839,103) (1,035,711)
Effect of Exchange Rate Changes on Cash (348) (37,937) (7,883)
Increase (Decrease) in Cash and Cash Equivalents 472,338 721,406 (765,667)
Cash and Cash Equivalents at Beginning of Year 1,555,634 834,228 1,599,895
Cash and Cash Equivalents at End of Year $ 2,027,972 $ 1,555,634 $ 834,228
[1]
Excludes gains or losses on the mark-to-market of financial commodity derivative contracts, gains or losses on sales of reserves and related assets, interest charges and general corporate expenses for each of the three years in the period ended December 31, 2019.