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Information Relating to the Consolidated Statement of Cash Flows
 3 Months Ended
Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]  
Information Relating to the Consolidated Statement of Cash Flows Information Relating to the Consolidated Statement of Cash Flows
 
Three Months Ended
March 31
(Millions of dollars)
2019

 
2018

Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable
$
473

 
$
(335
)
Decrease (increase) in inventories
(1,098
)
 
(543
)
Decrease (increase) in prepaid expenses and other current assets
(667
)
 
(608
)
Increase (decrease) in accounts payable and accrued liabilities
(160
)
 
(807
)
Increase (decrease) in income and other taxes payable
242

 
189

Net decrease (increase) in operating working capital
$
(1,210
)
 
$
(2,104
)
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)
$
186

 
$
105

Income taxes
757

 
843

Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales
$
276

 
$
31

Returns of investment from equity affiliates
18

 
80

Proceeds and deposits related to asset sales and returns of investment
$
294

 
$
111

Net maturities of (investments in) time deposits consisted of the following gross amounts:
Investments in time deposits
$
—

 
$
—

Maturities of time deposits
950

 
—

Net maturities of (investments in) time deposits
$
950

 
$
—

Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased
$
(1
)
 
$
(29
)
Marketable securities sold
3

 
—

Net sales (purchases) of marketable securities
$
2

 
$
(29
)
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts:
Borrowing of loans by equity affiliates
$
(350
)
 
$
—

Repayment of loans by equity affiliates
29

 
26

Net repayment (borrowing) of loans by equity affiliates
$
(321
)
 
$
26

Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations
$
359

 
$
658

Repayments of short-term obligations
(134
)
 
(1,377
)
Net borrowings (repayments) of short-term obligations with three months or less maturity
711

 
3,933

Net borrowings (repayments) of short-term obligations
$
936

 
$
3,214

 
 
 
 

The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash.
"Other" includes changes in postretirement benefits obligations and other long-term liabilities.
The “Net sales (purchases) of treasury shares” represents the cost of common shares acquired less the cost of shares issued for share-based compensation plans. Purchases totaled $538 million for the first three months in 2019 and $1 million for the first three months in 2018. During the first three months in 2019, the company purchased 4.7 million shares under its share repurchase program for $537 million. No purchases were made under the company's share repurchase program in the first three months of 2018.
The company paid dividends of $1.19 per share of common stock in first quarter 2019. This compares to dividends of $1.12 per share paid in the corresponding year-ago period.

The major components of “Capital expenditures” and the reconciliation of this amount to the reported capital and exploratory expenditures, including equity affiliates, are presented in the following table:
 
Three Months Ended
March 31
(Millions of dollars)
2019

 
2018

Additions to properties, plant and equipment
$
2,865

 
$
2,937

Additions to investments
14

 
15

Current-year dry hole expenditures
74

 
45

Payments for other liabilities and assets, net
—

 
—

Capital expenditures
2,953

 
2,997

Expensed exploration expenditures
103

 
113

Assets acquired through finance lease obligations and other financing obligations
146

 
—

Capital and exploratory expenditures, excluding equity affiliates
3,202

 
3,110

Company's share of expenditures by equity affiliates
1,532

 
1,295

Capital and exploratory expenditures, including equity affiliates
$
4,734

 
$
4,405


The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet:
 
At March 31
 
At December 31
 
2019
 
2018
 
2018
 
2017
 
(Millions of dollars)
 
(Millions of dollars)
Cash and Cash Equivalents
$
8,699

 
$
6,466

 
$
9,342

 
$
4,813

Restricted cash included in "Prepaid expenses and other current assets"
195

 
316

 
341

 
405

Restricted cash included in "Deferred charges and other assets"
801

 
735

 
798

 
725

Total Cash, Cash Equivalents and Restricted Cash
$
9,695

 
$
7,517

 
$
10,481

 
$
5,943


Additional information related to "Restricted Cash" is included on page 23 in Note 14 under the heading "Restricted Cash."