Information Relating to the Consolidated Statement of Cash Flows

3 Months Ended

Mar. 31, 2022

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
	2022		2021
	(Millions of dollars)
Distributions more (less) than income from equity affiliates includes the following:
Distributions from equity affiliates	$	644	$	420
(Income) loss from equity affiliates	(2,085)		(911)
Distributions more (less) than income from equity affiliates	$	(1,441)	$	(491)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	$	(5,289)	$	(2,827)
Decrease (increase) in inventories	(222)		51
Decrease (increase) in prepaid expenses and other current assets	137		(102)
Increase (decrease) in accounts payable and accrued liabilities	3,768		1,599
Increase (decrease) in income and other taxes payable	669		377
Net decrease (increase) in operating working capital	$	(937)	$	(902)
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	$	47	$	70
Income taxes	1,071		629
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	$	747	$	147
Returns of investment from equity affiliates	536		11
Proceeds and deposits related to asset sales and returns of investment	$	1,283	$	158
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	$	(2)	$	(1)
Marketable securities sold	2		1
Net sales (purchases) of marketable securities	$	—	$	—
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts:
Borrowing of loans by equity affiliates	$	—	$	—
Repayment of loans by equity affiliates	12		25
Net repayment (borrowing) of loans by equity affiliates	$	12	$	25
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations	$	—	$	2,872
Repayments of short-term obligations	—		(1,792)
Net borrowings (repayments) of short-term obligations with three months or less maturity	61		157
Net borrowings (repayments) of short-term obligations	$	61	$	1,237
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	$	4,641	$	273
Shares purchased under share repurchase and deferred compensation plans	(1,255)		(6)
Net sales (purchases) of treasury shares	$	3,386	$	267
Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts:
Distributions to noncontrolling interests	$	(5)	$	(11)
Contributions from noncontrolling interests	—		—
Net contributions from (distributions to) noncontrolling interests	$	(5)	$	(11)

The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash.

The “Other” line in the Operating Activities section includes changes in postretirement benefits obligations and other long-term liabilities.

The company paid dividends of $1.42 per share of common stock in first quarter 2022. This compares to dividends of $1.29 per share paid in the year-ago corresponding 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
	2022		2021
	(Millions of dollars)
Additions to properties, plant and equipment	$	1,732	$	1,631
Additions to investments	158		109
Current-year dry hole expenditures	70		4
Payments for other assets and liabilities, net	—		2
Capital expenditures	1,960		1,746
Expensed exploration expenditures	74		82
Assets acquired through finance lease obligations and other financing obligations	(2)		—
Payments for other assets and liabilities, net	—		(2)
Capital and exploratory expenditures, excluding equity affiliates	2,032		1,826
Company’s share of expenditures by equity affiliates	725		678
Capital and exploratory expenditures, including equity affiliates	$	2,757	$	2,504

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
	2022		2021		2021		2020
	(Millions of dollars)
Cash and cash equivalents	$	11,671	$	7,076	$	5,640	$	5,596
Restricted cash included in “Prepaid expenses and other current assets”	317		412		333		365
Restricted cash included in “Deferred charges and other assets”	818		776		822		776
Total cash, cash equivalents and restricted cash	$	12,806	$	8,264	$	6,795	$	6,737

Additional information related to restricted cash is included in Note 13 Fair Value Measurements under the heading “Restricted Cash.”