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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net Income $ 7,594 $ 7,759 $ 4,664
Items Not Requiring (Providing) Cash      
Depreciation, Depletion and Amortization 3,492 3,542 3,651
Impairments 202 382 376
Stock-Based Compensation Expenses 177 133 152
Deferred Income Taxes 683 (61) (122)
Gains on Asset Dispositions, Net (95) (74) (17)
Other, Net 27 0 13
Dry Hole Costs 1 45 71
Mark-to-Market Financial Commodity Derivative Contracts      
(Gains) Losses, Net (818) 3,982 1,152
Net Cash Payments for Settlements of Financial Commodity Derivative Contracts (112) (3,501) (638)
Other, Net (2) 45 7
Changes in Components of Working Capital and Other Assets and Liabilities      
Accounts Receivable (38) (347) (821)
Inventories (231) (534) (13)
Accounts Payable (119) 90 456
Accrued Taxes Payable 61 (113) 312
Other Assets 39 (364) (136)
Other Liabilities 184 (266) (116)
Changes in Components of Working Capital Associated with Investing Activities 295 375 (200)
Net Cash Provided by Operating Activities 11,340 11,093 8,791
Investing Cash Flows      
Additions to Oil and Gas Properties (5,385) (4,619) (3,638)
Additions to Other Property, Plant and Equipment (800) (381) (212)
Proceeds from Sales of Assets 140 349 231
Other Investing Activities 0 (30) 0
Changes in Components of Working Capital Associated with Investing Activities (295) (375) 200
Net Cash Used in Investing Activities (6,340) (5,056) (3,419)
Financing Cash Flows      
Long-Term Debt Repayments (1,250) 0 (750)
Dividends Paid (3,386) (5,148) (2,684)
Treasury Stock Purchased (1,038) (118) (41)
Proceeds from Stock Options Exercised and Employee Stock Purchase Plan 20 28 19
Debt Issuance Costs (8) 0 0
Repayment of Finance Lease Liabilities (32) (35) (37)
Net Cash Used in Financing Activities (5,694) (5,273) (3,493)
Effect of Exchange Rate Changes on Cash 0 (1) 1
Increase (Decrease) in Cash and Cash Equivalents (694) 763 1,880
Cash and Cash Equivalents at Beginning of Year 5,972 5,209 3,329
Cash and Cash Equivalents at End of Year $ 5,278 $ 5,972 $ 5,209