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Information Relating to the Consolidated Statement of Cash Flows
 12 Months Ended
Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]  
Information Relating to the Consolidated Statement of Cash Flows
Note 3
Information Relating to the Consolidated Statement of Cash Flows
 
     Year ended December 31   
     
2023
     2022     2021   
Distributions more (less) than income from equity affiliates includes the following:
       
Distributions from equity affiliates
   
$
4,246
 
   $ 3,855     $ 3,659   
(Income) loss from equity affiliates
   
 
(5,131
) 
     (8,585 )      (5,657)  
Distributions more (less) than income from equity affiliates
   
$
(885
) 
   $ (4,730 )    $ (1,998)  
Net decrease (increase) in operating working capital was composed of the following:
       
Decrease (increase) in accounts and notes receivable
   
$
1,187
 
   $ (2,317 )    $ (7,548)  
Decrease (increase) in inventories
   
 
(320
) 
     (930 )      (530)  
Decrease (increase) in prepaid expenses and other current assets
   
 
(1,202
) 
     (226 )      19   
Increase (decrease) in accounts payable and accrued liabilities
   
 
(49
) 
     2,750       5,475   
Increase (decrease) in income and other taxes payable
   
 
(2,801
) 
     2,848          1,223   
Net decrease (increase) in operating working capital
   
$
(3,185
) 
   $ 2,125     $ (1,361)  
Net cash provided by operating activities includes the following cash payments:
       
Interest on debt (net of capitalized interest)
   
$
465
 
   $ 525     $ 699   
Income taxes
   
 
   10,416
 
     9,148       4,355   
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:       
Proceeds and deposits related to asset sales
   
$
446
 
   $ 1,435     $ 1,352   
Returns of investment from equity affiliates
   
 
223
 
        1,200       439   
Proceeds and deposits related to asset sales and returns of investment
   
$
669
 
   $ 2,635     $ 1,791   
Net sales (purchases) of marketable securities consisted of the following gross amounts:
       
Marketable securities purchased
   
$
(289
) 
   $ (7 )    $ (4)  
Marketable securities sold
   
 
464
 
     124       3   
Net sales (purchases) of marketable securities
   
$
175
 
   $ 117     $ (1)  
Net repayment (borrowing) of loans by equity affiliates:
       
Borrowing of loans by equity affiliates
   
$
(368
) 
   $ (108 )    $ —   
Repayment of loans by equity affiliates
   
 
66
 
     84       401   
Net repayment (borrowing) of loans by equity affiliates
   
$
(302
) 
   $ (24 )    $ 401   
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:       
Repayments of short-term obligations
   
$
—
 
   $ —     $ (6,906)  
Proceeds from issuances of short-term debt obligations
   
 
—
 
     —       4,448   
Net borrowings (repayments) of short-term obligations with three months or less maturity
   
 
135
 
     263       (3,114)  
Net borrowings (repayments) of short-term obligations
   
$
135
 
   $ 263     $ (5,572)  
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
       
Shares issued for share-based compensation plans
   
$
261
 
   $ 5,838     $ 1,421   
Shares purchased under share repurchase and deferred compensation plans
   
 
(14,939
) 
     (11,255 )      (1,383)  
Net sales (purchases) of treasury shares
   
$
(14,678
) 
   $ (5,417 )    $ 38   
Net contributions from (distributions to) noncontrolling interests consisted of the following gross and net amounts:
       
Distributions to noncontrolling interests
   
$
(54
) 
   $ (118 )    $ (53)  
Contributions from noncontrolling interests
   
 
14
 
     4       17   
Net contributions from (distributions to) noncontrolling interests
   
$
(40
) 
   $ (114 )    $ (36)  
The “Other” line in the Operating Activities section includes changes in postretirement benefits obligations and other long-term liabilities.
The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash. “Depreciation, depletion and amortization” and “Deferred income tax provision” collectively include approximately $1,765 in
non-cash
reductions to “Properties, plant and equipment” and “Investments and advances” in 2023 relating to impairments, mainly of upstream assets in California. “Other income (loss)” and “Deferred income tax provision” collectively include a $1,950 charge related to
non-cash
increases to “Deferred credits and other noncurrent obligations” related to abandonment and decommissioning obligations from previously sold oil and gas production assets in the U.S. Gulf of Mexico. The cash outlays for these abandonment and decommissioning obligations are expected to take place over the next decade.
 
 
Refer also to
for a discussion of revisions to the company’s AROs that also did not involve cash receipts or payments for the three years ending December 31, 2023.
The components of “Capital expenditures” are presented in the following table:
 
     Year ended December 31   
     
2023
     2022      2021   
Additions to properties, plant and equipment
*
   
$
14,788
 
   $ 10,349      $ 7,515   
Additions to investments
   
 
690
 
     1,147        460   
Current-year dry hole expenditures
   
 
326
 
     309        83   
Payments for other assets and liabilities, net
   
 
25
 
     169        (2)  
Capital expenditures
   
$
   15,829
 
   $    11,974      $    8,056   
*
Excludes
non-cash
movements of $1,559 in 2023, $334 in 2022 and $316 in 2021.
The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet:
 
     Year ended December 31   
     
2023
     2022      2021   
Cash and cash equivalents
   
$
8,178
 
   $ 17,678      $ 5,640   
Restricted cash included in “Prepaid expenses and other current assets”
   
 
275
 
     630        333   
Restricted cash included in “Deferred charges and other assets”
   
 
822
 
     813        822   
Total cash, cash equivalents and restricted cash
   
$
    9,275
 
   $    19,121      $    6,795