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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities      
Net Income (Loss) $ (604,572) $ 2,734,910 $ 3,419,040
Items Not Requiring (Providing) Cash      
Depreciation, Depletion and Amortization 3,400,353 3,749,704 3,435,408
Impairments 2,099,780 517,896 347,021
Stock-Based Compensation Expenses 146,396 174,738 155,337
Deferred Income Taxes (186,390) 631,658 894,156
(Gains) Losses on Asset Dispositions, Net 46,883 (123,613) (174,562)
Other, Net 12,826 4,496 7,066
Dry Hole Costs [1] 13,083 28,001 5,405
Mark-to-Market Commodity Derivative Contracts      
Total (Gains) Losses (1,144,737) (180,275) 165,640
Net Cash Received from (Payments for) Settlements of Commodity Derivative Contracts 1,070,647 231,229 (258,906)
Other, Net 1,354 962 3,108
Changes in Components of Working Capital and Other Assets and Liabilities      
Accounts Receivable 466,523 (91,792) (368,180)
Inventories 122,647 90,284 (395,408)
Accounts Payable (795,267) 168,539 439,347
Accrued Taxes Payable (49,096) 40,122 (92,461)
Other Assets 324,521 358,001 (125,435)
Other Liabilities 8,098 (56,619) 10,949
Changes in Components of Working Capital Associated with Investing and Financing Activities 74,734 (115,061) 301,083
Net Cash Provided by Operating Activities 5,007,783 8,163,180 7,768,608
Investing Cash Flows      
Additions to Oil and Gas Properties (3,243,474) (6,151,885) (5,839,294)
Additions to Other Property, Plant and Equipment (221,226) (270,641) (237,181)
Proceeds from Sales of Assets 191,928 140,292 227,446
Payments for (Proceeds from) Other Investing Activities 0 (10,000) (19,993)
Changes in Components of Working Capital Associated with Investing Activities (74,734) 115,061 (301,140)
Net Cash Used in Investing Activities (3,347,506) (6,177,173) (6,170,162)
Financing Cash Flows      
Long-Term Debt Repayments (1,000,000) (900,000) (350,000)
Dividends Paid (820,823) (588,200) (438,045)
Treasury Stock Purchased (16,130) (25,152) (63,456)
Proceeds from Stock Options Exercised and Employee Stock Purchase Plan 16,169 17,946 20,560
Debt Issuance Costs (2,649) (5,016) 0
Repayment of Capital Lease Obligation (19,444) (12,899) (8,219)
Other, Net 0 0 57
Net Cash Used in Financing Activities (359,025) (1,513,321) (839,103)
Effect of Exchange Rate Changes on Cash (296) (348) (37,937)
Increase in Cash and Cash Equivalents 1,300,956 472,338 721,406
Cash and Cash Equivalents at Beginning of Year 2,027,972 1,555,634 834,228
Cash and Cash Equivalents at End of Year 3,328,928 2,027,972 1,555,634
Proceeds from Issuance of Senior Long-term Debt $ 1,483,852 $ 0 $ 0
[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, 2020.