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Information Relating to the Consolidated Statement of Cash Flows | 12 Months Ended
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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 Note 25 Asset Retirement Obligations 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 |

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- Definition The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//230/tableOfContent + Details
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