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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ (7,368) $ 430
Adjustments to reconcile net income (loss) income to cash provided by operating activities:    
Impairments and other charges 8,523  
Depreciation and amortization [1] 792 903
Deferred taxes (781) (72)
Stock-based compensation expense 108 108
Earnings of equity method investments, less dividends received (10) 3
Change in assets and liabilities:    
Decrease (increase) in receivables [2] 233 (280)
Increase in inventories [2] (42) (197)
Decrease (increase) in other current assets [2] 15 (93)
(Increase) decrease in other assets [2] (7) 2
Decrease in accounts payable and accrued liabilities [2] (640) (483)
(Decrease) increase in estimated liability for taxes on income [2] (48) 5
Decrease in other liabilities [2] (37) (42)
Other [2] 46 42
NET CASH PROVIDED BY OPERATING ACTIVITIES 784 326
Cash flows from investing activities:    
Capital expenditures (407) (413)
APS investments (163) (151)
Multiclient seismic data costs capitalized (35) (45)
(Purchase) sale of investments, net (941) 420
Net proceeds from asset divestitures 298  
Other (64) (41)
NET CASH USED IN INVESTING ACTIVITIES (1,312) (230)
Cash flows from financing activities:    
Dividends paid (692) (692)
Proceeds from employee stock purchase plan 85 85
Proceeds from exercise of stock options   22
Stock repurchase program (26) (98)
Proceeds from issuance of long-term debt 1,475 1,812
Repayment of long-term debt (90) (1,368)
Net increase (decrease) in short-term borrowings 34 (38)
Other (9) (20)
NET CASH PROVIDED (USED) IN FINANCING ACTIVITIES 777 (297)
Net increase (decrease) in cash before translation effect 249 (201)
Translation effect on cash (11) (2)
Cash, beginning of period 1,137 1,433
Cash, end of period $ 1,375 $ 1,230
[1] Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and APS investments.
[2] Net of the effect of business acquisitions.