Information Relating to the Consolidated Statement of Cash Flows

9 Months Ended

Sep. 30, 2023

Supplemental Cash Flow Elements [Abstract]

Information Relating to the Consolidated Statement of Cash Flows

Information Relating to the Consolidated Statement of Cash Flows

	Nine Months Ended September 30
	2023		2022
	(Millions of dollars)
Distributions more (less) than income from equity affiliates included the following:
Distributions from equity affiliates	$	1,868	$	2,194
(Income) loss from equity affiliates	(4,141)		(6,962)
Distributions more (less) than income from equity affiliates	$	(2,273)	$	(4,768)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	$	(890)	$	(4,428)
Decrease (increase) in inventories	(1,136)		(2,170)
Decrease (increase) in prepaid expenses and other current assets	(1,121)		(479)
Increase (decrease) in accounts payable and accrued liabilities	1,706		5,282
Increase (decrease) in income and other taxes payable	(2,740)		2,967
Net decrease (increase) in operating working capital	$	(4,181)	$	1,172
Net cash provided by operating activities included the following cash payments:
Interest on debt (net of capitalized interest)	$	292	$	320
Income taxes	8,189		6,750
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	$	218	$	1,406
Returns of investment from equity affiliates	192		1,079
Proceeds and deposits related to asset sales and returns of investment	$	410	$	2,485
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	$	(289)	$	(9)
Marketable securities sold	373		91
Net sales (purchases) of marketable securities	$	84	$	82
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts:
Borrowing of loans by equity affiliates	$	(296)	$	(27)
Repayment of loans by equity affiliates	54		65
Net repayment (borrowing) of loans by equity affiliates	$	(242)	$	38
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term debt obligations	$	—	$	—
Repayments of short-term debt obligations	—		—
Net borrowings (repayments) of short-term debt obligations with three months or less maturity	(33)		278
Net borrowings (repayments) of short-term obligations	$	(33)	$	278
Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts:
Distributions to noncontrolling interests	$	(54)	$	(107)
Contributions from noncontrolling interests	10		4
Net contributions from (distributions to) noncontrolling interests	$	(44)	$	(103)
Net sales (purchases) of treasury shares consisted of the following gross and net amounts:
Shares issued for share-based compensation plans	$	237	$	5,505
Shares purchased under share repurchase and deferred compensation plans	(11,518)		(7,505)
Net sales (purchases) of treasury shares	$	(11,281)	$	(2,000)

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 $1.51 per share of common stock in third quarter 2023. This compares to dividends of $1.42 per share paid in the year-ago corresponding period.

The components of “Capital expenditures” are presented in the following table:

	Nine Months Ended September 30
	2023		2022
	(Millions of dollars)
Additions to properties, plant and equipment	$	10,602	$	6,901
Additions to investments	636		932
Current-year dry hole expenditures	205		137
Payments for other assets and liabilities, net	25		169
Capital expenditures	$	11,468	$	8,139

The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet:

	At September 30				At December 31
	2023		2022		2022		2021
	(Millions of dollars)				(Millions of dollars)
Cash and cash equivalents	$	5,797	$	15,164	$	17,678	$	5,640
Restricted cash included in “Prepaid expenses and other current assets”	306		742		630		333
Restricted cash included in “Deferred charges and other assets”	903		791		813		822
Total cash, cash equivalents and restricted cash	$	7,006	$	16,697	$	19,121	$	6,795

Additional information related to restricted cash is included in Note 12 Fair Value Measurements under the heading “Restricted Cash.”