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Information Relating to the Consolidated Statement of Cash Flows (Tables) | 6 Months Ended
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Jun. 30, 2025
Supplemental Cash Flow Elements [Abstract] |
Schedule of Information Relating to Consolidated Statement of Cash Flows |
| Six Months Ended June 30
| 2025 |  | 2024
| (Millions of dollars)
Distributions more (less) than income from equity affiliates included the following: |  |
Distributions from equity affiliates | $ | 2,532 |  |  | $ | 2,019 |
(Income) loss from equity affiliates | (1,356) |  |  | (2,647) |
Distributions more (less) than income from equity affiliates | $ | 1,176 |  |  | $ | (628) |
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable | $ | 3,089 |  |  | $ | (928) |
Decrease (increase) in inventories | 153 |  |  | (1,865) |
Decrease (increase) in prepaid expenses and other current assets | 214 |  |  | 44 |
Increase (decrease) in accounts payable and accrued liabilities | (3,962) |  |  | 419 |
Increase (decrease) in income and other taxes payable | (1,624) |  |  | (1,245) |
Net decrease (increase) in operating working capital | $ | (2,130) |  |  | $ | (3,575) |
Net cash provided by operating activities included the following cash payments:
Interest on debt (net of capitalized interest) | $ | 410 |  |  | $ | 238 |
Income taxes | 4,136 |  |  | 4,738 |
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales | $ | 932 |  |  | $ | 103 |
Returns of investment from equity affiliates | 58 |  |  | 115 |
Proceeds and deposits related to asset sales and returns of investment | $ | 990 |  |  | $ | 218 |
Net maturities of (investments in) time deposits consisted of the following gross amounts:
Investments in time deposits | $ | (9) |  |  | $ | — |
Maturities of time deposits | 9 |  |  | — |
Net maturities of (investments in) time deposits | $ | — |  |  | $ | — |
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased | $ | — |  |  | $ | — |
Marketable securities sold | — |  |  | 45 |
Net sales (purchases) of marketable securities | $ | — |  |  | $ | 45 |
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts:
Borrowing of loans by equity affiliates | $ | (216) |  |  | $ | (154) |
Repayment of loans by equity affiliates | 40 |  |  | 36 |
Net repayment (borrowing) of loans by equity affiliates | $ | (176) |  |  | $ | (118) |
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term debt obligations | $ | 6,779 |  |  | $ | — |
Repayments of short-term debt obligations | (3,957) |  |  | — |
Net borrowings (repayments) of short-term debt obligations with three months or less maturity | (931) |  |  | 3,119 |
Net borrowings (repayments) of short-term obligations | $ | 1,891 |  |  | $ | 3,119 |
Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts:
Distributions to noncontrolling interests | $ | (34) |  |  | $ | (7) |
Contributions from noncontrolling interests | 4 |  |  | 9 |
Net contributions from (distributions to) noncontrolling interests | $ | (30) |  |  | $ | 2 |
Net sales (purchases) of treasury shares consisted of the following gross and net amounts:
Shares issued for share-based compensation plans | $ | 229 |  |  | $ | 158 |
Shares purchased under share repurchase and executive compensation plans | (6,515) |  |  | (5,979) |
Share Repurchase excise tax payment | (146) |  |  | — |
Net sales (purchases) of treasury shares | $ | (6,432) |  |  | $ | (5,821) |
Schedule of Capital expenditures | The components of “Capital expenditures” are presented in the following table:
| Six Months Ended June 30
| 2025 |  | 2024
| (Millions of dollars)
Additions to properties, plant and equipment | $ | 7,377 |  |  | $ | 7,678 |
Additions to investments | 101 |  |  | 265 |
Current-year dry hole expenditures | 161 |  |  | $ | 112 |
Capital expenditures | $ | 7,639 |  |  | $ | 8,055 |
Schedule of Cash and Cash Equivalents | The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet:
| At June 30 |  | At December 31
| 2025 |  | 2024 |  | 2024 |  | 2023
| (Millions of dollars) |  | (Millions of dollars)
Cash and cash equivalents | $ | 4,061 |  |  | $ | 4,008 |  |  | $ | 6,781 |  |  | $ | 8,178 |
Restricted cash included in “Prepaid expenses and other current assets” | 237 |  |  | 145 |  |  | 281 |  |  | 275 |
Restricted cash included in “Deferred charges and other assets” | 1,077 |  |  | 812 |  |  | 1,200 |  |  | 822 |
Total cash, cash equivalents and restricted cash | $ | 5,375 |  |  | $ | 4,965 |  |  | $ | 8,262 |  |  | $ | 9,275 |
Schedule of Restrictions on Cash and Cash Equivalents | The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet:
| At June 30 |  | At December 31
| 2025 |  | 2024 |  | 2024 |  | 2023
| (Millions of dollars) |  | (Millions of dollars)
Cash and cash equivalents | $ | 4,061 |  |  | $ | 4,008 |  |  | $ | 6,781 |  |  | $ | 8,178 |
Restricted cash included in “Prepaid expenses and other current assets” | 237 |  |  | 145 |  |  | 281 |  |  | 275 |
Restricted cash included in “Deferred charges and other assets” | 1,077 |  |  | 812 |  |  | 1,200 |  |  | 822 |
Total cash, cash equivalents and restricted cash | $ | 5,375 |  |  | $ | 4,965 |  |  | $ | 8,262 |  |  | $ | 9,275 |

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