Information Relating to the Consolidated Statement of Cash Flows

12 Months Ended

Dec. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Information Relating to the Consolidated Statement of Cash Flows


	Year ended December 31
	2020		2019		2018
Distributions more (less) than income from equity affiliates includes the following:
Distributions from equity affiliates	$	1,543	$	1,895	$	2,747
(Income) loss from equity affiliates	472		(3,968)		(6,327)
Distributions more (less) than income from equity affiliates	$	2,015	$	(2,073)	$	(3,580)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	$	2,423	$	1,852	$	437
Decrease (increase) in inventories	284		7		(424)
Decrease (increase) in prepaid expenses and other current assets	(87)		(323)		(149)
Increase (decrease) in accounts payable and accrued liabilities	(3,576)		(109)		(494)
Increase (decrease) in income and other taxes payable	(696)		67		(88)
Net decrease (increase) in operating working capital	$	(1,652)	$	1,494	$	(718)
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	$	720	$	810	$	736
Income taxes	2,987		4,817		4,748
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	$	2,891	$	2,809	$	2,000
Returns of investment from equity affiliates	77		142		392
Proceeds and deposits related to asset sales and returns of investment	$	2,968	$	2,951	$	2,392
Net maturities (investments) of time deposits consisted of the following gross amounts:
Investments in time deposits	$	—	$	—	$	(950)
Maturities of time deposits	—		950		—
Net maturities of (investments in) time deposits	$	—	$	950	$	(950)
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	$	—	$	(1)	$	(51)
Marketable securities sold	35		3		—
Net sales (purchases) of marketable securities	$	35	$	2	$	(51)
Net repayment (borrowing) of loans by equity affiliates:
Borrowing of loans by equity affiliates	$	(3,925)	$	(1,350)	$	—
Repayment of loans by equity affiliates	2,506		105		111
Net repayment (borrowing) of loans by equity affiliates	$	(1,419)	$	(1,245)	$	111
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations	$	10,846	$	2,586	$	2,486
Repayments of short-term obligations	(9,771)		(1,430)		(4,136)
Net borrowings (repayments) of short-term obligations with three months or less maturity	(424)		(3,977)		3,671
Net borrowings (repayments) of short-term obligations	$	651	$	(2,821)	$	2,021
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	$	226	$	1,104	$	1,147
Shares purchased under share repurchase and deferred compensation plans	(1,757)		(4,039)		(1,751)
Net sales (purchases) of treasury shares	$	(1,531)	$	(2,935)	$	(604)

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. "Distributions more (less) than income from equity affiliates," “Depreciation, depletion and amortization,” “Deferred income tax provision,” “Dry hole expense,” and "Net decrease (increase) in operating working capital" collectively include approximately $4.8 billion in non-cash reductions in 2020 relating to impairments and other non-cash charges. “Depreciation, depletion and amortization,” “Deferred income tax provision,” and “Dry hole expense” collectively include approximately $9.3 billion in non-cash reductions recorded in 2019 relating to impairments and other non-cash charges.

Refer also to Note 23, on page 94, 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, 2020.

Refer also to Note 29 on page 96 for a discussion of the all-stock acquisition of Noble. The cash received as a result of the acquisition is reflected on the Consolidated Statement of Cash Flows as “Cash acquired from Noble Energy, Inc.” Other changes to the Consolidated Balance Sheet resulting from the acquisition that did not affect cash are not reflected on the Consolidated Statement of Cash Flows.

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.


	Year ended December 31
	2020		2019		2018
Additions to properties, plant and equipment *	$	8,492	$	13,839	$	13,384
Additions to investments	136		140		65
Current-year dry hole expenditures	327		124		344
Payments for other assets and liabilities, net	(33)		13		(1)
Capital expenditures	8,922		14,116		13,792
Expensed exploration expenditures	500		598		523
Assets acquired through finance leases and other obligations	53		181		75
Payments for other assets and liabilities, net	42		(13)		—
Capital and exploratory expenditures, excluding equity affiliates	9,517		14,882		14,390
Company’s share of expenditures by equity affiliates	3,982		6,112		5,716
Capital and exploratory expenditures, including equity affiliates	$	13,499	$	20,994	$	20,106

* Excludes non-cash movements of $816 in 2020, $(239) in 2019 and $25 in 2018.

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
		2020		2019		2018
Cash and cash equivalents		$	5,596	$	5,686	$	9,342
Restricted cash included in “Prepaid expenses and other current assets”		365		452		341
Restricted cash included in “Deferred charges and other assets”		776		773		798
Total cash, cash equivalents and restricted cash		$	6,737	$	6,911	$	10,481