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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 1,628 $ 758
Adjustments to reconcile net income to cash provided by operating activities:    
Impairments and other charges 184 723
Depreciation and amortization [1] 2,637 2,931
Stock-based compensation expense 259 261
Pension and other postretirement benefits funding (69) (107)
Earnings of equity method investments, less dividends received (41) (52)
Change in assets and liabilities:    
Increase in receivables [2] (114) (1,049)
(Increase) decrease in inventories [2] (68) 14
Decrease (increase) in other current assets [2] 78 (86)
(Increase) decrease in other assets [2] (167) 202
Decrease in accounts payable and accrued liabilities [2] (1,011) (533)
(Decrease) increase in estimated liability for taxes on income [2] (32) 181
Decrease in other liabilities [2] (6) (74)
Other [2] 104 243
NET CASH PROVIDED BY OPERATING ACTIVITIES 3,382 3,412
Cash flows from investing activities:    
Capital expenditures (1,539) (1,482)
SPM investments (719) (492)
Multiclient seismic data costs capitalized (63) (223)
Business acquisitions and investments, net of cash acquired (290) (382)
Sale of investments, net 1,922 3,310
Other (36) (92)
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (725) 639
Cash flows from financing activities:    
Dividends paid (2,077) (2,086)
Proceeds from employee stock purchase plan 227 212
Proceeds from exercise of stock options 29 49
Stock repurchase program (300) (868)
Proceeds from issuance of long-term debt 220 681
Repayment of long-term debt (900) (2,206)
Net decrease in short-term borrowings (103) (1,110)
Other (47) 17
NET CASH USED IN FINANCING ACTIVITIES (2,951) (5,311)
Net decrease in cash before translation effect (294) (1,260)
Translation effect on cash (12) 21
Cash, beginning of period 1,799 2,929
Cash, end of period $ 1,493 $ 1,690
[1] Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and SPM investments.
[2] Net of the effect of business acquisitions.