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Information Relating to the Consolidated Statement of Cash Flows (Tables) | 3 Months Ended
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Mar. 31, 2018
Supplemental Cash Flow Elements [Abstract] |
Net increase in operating working capital | The “Net increase in operating working capital” was composed of the following operating changes:
| Three Months Ended March 31
| 2018 |  | 2017
| (Millions of dollars)
(Increase) decrease in accounts and notes receivable | $ | (335 | ) |  | $ | 317 |
Increase in inventories | (543 | ) |  | (550 | )
(Increase) decrease in prepaid expenses and other current assets 1 | (608 | ) |  | 26 |
Decrease in accounts payable and accrued liabilities 1 | (807 | ) |  | (1,090 | )
Increase in income and other taxes payable | 189 |  |  | 245 |
Net increase in operating working capital 1 | $ | (2,104 | ) |  | $ | (1,052 | )
____________________ |  |  |
1 2017 adjusted to conform to Accounting Standards Update 2016-18.
Cash payment for interest on debt and for income taxes | “Net Cash Provided by Operating Activities” included the following cash payments for interest on debt and for income taxes:
| Three Months Ended March 31
| 2018 |  | 2017
| (Millions of dollars)
Interest on debt (net of capitalized interest) | $ | 105 |  |  | $ | — |
Income taxes | 843 |  |  | 494 |
Net sales of marketable securities | The “Net (purchases) sales of marketable securities” consisted of the following gross amounts:
| Three Months Ended March 31
| 2018 |  | 2017
| (Millions of dollars)
Marketable securities purchased | $ | (29 | ) |  | $ | — |
Marketable securities sold | — |  |  | 2 |
Net (purchases) sales of marketable securities | $ | (29 | ) |  | $ | 2 |
Schedule of net borrowing of loans by equity affiliates | The “Net repayment (borrowing) of loans by equity affiliates” consisted of the following gross amounts:
| Three Months Ended March 31
| 2018 |  | 2017
| (Millions of dollars)
Borrowing of loans by equity affiliates | $ | — |  |  | $ | (70 | )
Repayment of loans by equity affiliates | 26 |  |  | 64 |
Net repayment (borrowing) of loans by equity affiliates | $ | 26 |  |  | $ | (6 | )
Schedule of short-term debt | The “Net borrowings (repayments) of short-term obligations" consisted of the following gross and net amounts:
| Three Months Ended March 31
| 2018 |  | 2017
| (Millions of dollars)
Repayments of short-term obligations | $ | (1,377 | ) |  | $ | (2,952 | )
Proceeds from issuances of short-term obligations | 658 |  |  | 3,415 |
Net borrowings of short-term obligations with three months or less maturity | 3,933 |  |  | (4,391 | )
Net borrowings (repayments) of short-term obligations | $ | 3,214 |  |  | $ | (3,928 | )
Capital expenditures | The major components of “Capital expenditures” and the reconciliation of this amount to the capital and exploratory expenditures, including equity affiliates, are as follows:
| Three Months Ended March 31
| 2018 |  | 2017
| (Millions of dollars)
Additions to properties, plant and equipment | $ | 2,937 |  |  | $ | 3,305 |
Additions to investments | 15 |  |  | 3 |
Current year dry hole expenditures | 45 |  |  | 7 |
Capital expenditures | 2,997 |  |  | 3,315 |
Expensed exploration expenditures | 113 |  |  | 137 |
Assets acquired through capital lease obligations | — |  |  | 1 |
Capital and exploratory expenditures, excluding equity affiliates | 3,110 |  |  | 3,453 |
Company’s share of expenditures by equity affiliates | 1,295 |  |  | 939 |
Capital and exploratory expenditures, including equity affiliates | $ | 4,405 |  |  | $ | 4,392 |
Schedule of cash, cash equivalents and restricted cash | The table on the next page quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet:
|  | At March 31 |  | At December 31
|  | 2018 |  | 2017 |  | 2017 |  | 2016
|  | (Millions of dollars) |  | (Millions of dollars)
Cash and Cash Equivalents |  | $ | 6,466 |  |  | $ | 6,983 |  |  | $ | 4,813 |  |  | $ | 6,988 |
Restricted cash included in "Prepaid expenses and other current assets" |  | 316 |  |  | 306 |  |  | 405 |  |  | 488 |
Restricted cash included in "Deferred charges and other assets" |  | 735 |  |  | 784 |  |  | 725 |  |  | 938 |
Total Cash, Cash Equivalents and Restricted Cash |  | $ | 7,517 |  |  | $ | 8,073 |  |  | $ | 5,943 |  |  | $ | 8,414 |

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- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26626-111562 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27232-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26610-111562 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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