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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net Income (Loss) $ 4,664 $ (605) $ 2,735
Items Not Requiring (Providing) Cash      
Depreciation, Depletion and Amortization 3,651 3,400 3,750
Impairments 376 2,100 518
Stock-Based Compensation Expenses 152 146 175
Deferred Income Taxes (122) (186) 632
(Gains) Losses on Asset Dispositions, Net (17) 47 (124)
Other, Net 13 12 4
Dry Hole Costs [1] 71 13 28
Mark-to-Market Commodity Derivative Contracts      
Total (Gains) Losses 1,152 (1,145) (180)
Net Cash Received from (Payments for) Settlements of Commodity Derivative Contracts (638) 1,071 231
Other, Net 7 1 1
Changes in Components of Working Capital and Other Assets and Liabilities      
Accounts Receivable (821) 467 (92)
Inventories (13) 123 90
Accounts Payable 456 (795) 169
Accrued Taxes Payable 312 (49) 40
Other Assets (136) 325 358
Other Liabilities (116) 8 (57)
Changes in Components of Working Capital Associated with Investing Activities (200) 75 (115)
Net Cash Provided by Operating Activities 8,791 5,008 8,163
Investing Cash Flows      
Additions to Oil and Gas Properties (3,638) (3,244) (6,152)
Additions to Other Property, Plant and Equipment (212) (221) (270)
Proceeds from Sales of Assets 231 192 140
Other Investing Activities 0 0 (10)
Changes in Components of Working Capital Associated with Investing Activities 200 (75) 115
Net Cash Used in Investing Activities (3,419) (3,348) (6,177)
Financing Cash Flows      
Long-Term Debt Borrowings 0 1,484 0
Long-Term Debt Repayments (750) (1,000) (900)
Dividends Paid (2,684) (821) (588)
Treasury Stock Purchased (41) (16) (25)
Proceeds from Stock Options Exercised and Employee Stock Purchase Plan 19 16 18
Debt Issuance Costs 0 (3) (5)
Repayment of Finance Lease Liabilities (37) (19) (13)
Net Cash Used in Financing Activities (3,493) (359) (1,513)
Effect of Exchange Rate Changes on Cash 1 0 (1)
Increase in Cash and Cash Equivalents 1,880 1,301 472
Cash and Cash Equivalents at Beginning of Year 3,329 2,028 1,556
Cash and Cash Equivalents at End of Year $ 5,209 $ 3,329 $ 2,028
[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, 2021.