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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,209 $ 3,033
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 1,185 1,196
Deferred income tax expense 19 128
(Gain) loss on sale of assets (12) 1
(Gain) loss on derivative instruments (129) 613
Net cash received (paid) in settlement of derivative instruments 238 (723)
Amortization of debt premium and debt issuance costs (13) (35)
Gain on debt extinguishment 0 (26)
Stock-based compensation and other 43 62
Changes in assets and liabilities:    
Accounts receivable, net 494 (382)
Income taxes 165 (99)
Inventories (1) (26)
Other current assets (5) (4)
Accounts payable and accrued liabilities (292) 194
Interest payable (6) (10)
Other assets and liabilities 3 50
Net cash provided by operating activities 2,898 3,972
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures for drilling, completion and other fixed asset additions (1,621) (1,199)
Capital expenditures for leasehold and property acquisitions (8) (6)
Proceeds from sale of assets 40 22
Net cash used in investing activities (1,589) (1,183)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of debt 0 (830)
Repayments of finance leases (4) (4)
Common stock repurchases (385) (740)
Dividends paid (739) (1,459)
Cash received for stock option exercises 1 11
Cash paid for conversion of redeemable preferred stock (1) (10)
Tax withholding on vesting of stock awards (1) (15)
Capitalized debt issuance costs (7) 0
Net cash used in financing activities (1,136) (3,047)
Net increase (decrease) in cash, cash equivalents and restricted cash 173 (258)
Cash, cash equivalents and restricted cash, beginning of period 683 1,046
Cash, cash equivalents and restricted cash, end of period $ 856 $ 788