Information Relating to the Consolidated Statement of Cash Flows

9 Months Ended

Sep. 30, 2021

Supplemental Cash Flow Elements [Abstract]

Information Relating to the Consolidated Statement of Cash Flows


	Nine Months Ended September 30
	2021		2020
	(Millions of dollars)
Distributions more (less) than income from equity affiliates includes the following:
Distributions from equity affiliates	$	1,838	$	1,209
(Income) loss from equity affiliates	(4,000)		1,040
Distributions more (less) than income from equity affiliates	$	(2,162)	$	2,249
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	$	(5,692)	$	3,601
Decrease (increase) in inventories	(353)		201
Decrease (increase) in prepaid expenses and other current assets	(94)		632
Increase (decrease) in accounts payable and accrued liabilities	3,842		(3,609)
Increase (decrease) in income and other taxes payable	838		(846)
Net decrease (increase) in operating working capital	$	(1,459)	$	(21)
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	$	427	$	384
Income taxes	2,943		2,527
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	$	563	$	1,912
Returns of investment from equity affiliates	23		67
Proceeds and deposits related to asset sales and returns of investment	$	586	$	1,979




Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	$	(3)	$	(2)
Marketable securities sold	2		37
Net sales (purchases) of marketable securities	$	(1)	$	35
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts:
Borrowing of loans by equity affiliates	$	—	$	(3,925)
Repayment of loans by equity affiliates	389		2,491
Net repayment (borrowing) of loans by equity affiliates	$	389	$	(1,434)
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations	$	4,449	$	8,863
Repayments of short-term obligations	(6,225)		(7,479)
Net borrowings (repayments) of short-term obligations with three months or less maturity	(1,851)		(1,990)
Net borrowings (repayments) of short-term obligations	$	(3,627)	$	(606)
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	$	388	$	206
Shares purchased under share repurchase and deferred compensation plans	(633)		(1,751)
Net sales (purchases) of treasury shares	$	(245)	$	(1,545)
Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts:
Distributions to noncontrolling interests	$	(51)	$	(10)
Contributions from noncontrolling interests	17		—
Net contributions from (distributions to) noncontrolling interests	$	(34)	$	(10)

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 $1.34 per share of common stock in third quarter 2021. 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:


	Nine Months Ended September 30
	2021		2020
	(Millions of dollars)
Additions to properties, plant and equipment	$	5,087	$	6,576
Additions to investments	309		86
Current-year dry hole expenditures	55		226
Payments for other assets and liabilities, net	(1)		(33)
Capital expenditures	5,450		6,855
Expensed exploration expenditures	302		322
Assets acquired through finance lease obligations and other financing obligations	49		49
Payments for other assets and liabilities, net	1		33
Capital and exploratory expenditures, excluding equity affiliates	5,802		7,259
Company’s share of expenditures by equity affiliates	2,258		3,063
Capital and exploratory expenditures, including equity affiliates	$	8,060	$	10,322

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
	2021		2020		2020		2019
	(Millions of dollars)
Cash and cash equivalents	$	5,998	$	6,866	$	5,596	$	5,686
Restricted cash included in “Prepaid expenses and other current assets”	246		169		365		452
Restricted cash included in “Deferred charges and other assets”	781		756		776		773
Total cash, cash equivalents and restricted cash	$	7,025	$	7,791	$	6,737	$	6,911

Additional information related to restricted cash is included on page 19 in Note 13 under the heading “Restricted Cash.”