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Supplementary Information - Condensed Consolidating Financial Information | 9 Months Ended
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Sep. 30, 2018
Supplementary Information - Condensed Consolidating Financial Information [Abstract] |
Supplementary Information - Condensed Consolidating Financial Information | Supplementary Information—Condensed Consolidating Financial Information We have various cross guarantees among ConocoPhillips, ConocoPhillips Company and ConocoPhillips Canada Funding Company I, with respect to publicly held debt securities. ConocoPhillips Company is 100 percent owned by ConocoPhillips. ConocoPhillips Canada Funding Company I is an indirect, 100 percent owned subsidiary of ConocoPhillips Company. ConocoPhillips and/or ConocoPh illips Company have fully and unconditionally guaranteed the payment obligations of ConocoPhillips Canada Funding Company I, with respect to its publicly held debt securities. Similarly, ConocoPhillips has fully and unconditionally guaranteed the payment obligations of ConocoPhillips Company with respect to its publicly held debt securities. In addition, ConocoPhillips Company has fully and unconditionally guaranteed the payment obligations of ConocoPhillips with respect to its publicly held debt securiti es. All guarantees are joint and several. The following condensed consolidating financial information presents the results of operations, financial position and cash flows for: ConocoPhillips, ConocoPhillips Company and ConocoPhillips Canada Funding Com pany I (in each case, reflecting investments in subsidiaries utilizing the equity method of accounting). All other nonguarantor subsidiaries of ConocoPhillips. The consolidating adjustments necessary to present ConocoPhillips’ results on a consolidated bas is. In March 2018, ConocoPhillips Company received a $1.2 billion loan repayment from a nonguarantor subsidiary to settle certain accumulated intercompany balances. This transaction had no impact on our consolidated financial statements. In June 2018, C onocoPhillips received a $2.5 billion return of capital from ConocoPhillips Company to settle certain accumulated intercompany balances. The transaction had no impact on our consolidated financial statements. In the second quarter of 2018, ConocoPhillips Company received $1.2 billion of loan repayments from a nonguarantor subsidiary to settle certain accumulated intercompany balances. This transaction had no impact on our consolidated financial statements. This condensed consolidating financial informat ion should be read in conjunction with the accompanying consolidated financial statements and notes.
|  |  | Millions of Dollars
|  |  | Three Months Ended September 30, 2018
Income Statement |  | ConocoPhillips |  | ConocoPhillips Company |  | ConocoPhillips Canada Funding Company I |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Revenues and Other Income |  |  |  |  |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | - |  | 4,330 |  | - |  | 5,119 |  | - |  | 9,449
Equity in earnings of affiliates |  | 1,903 |  | 2,166 |  | - |  | 256 |  | (4,031) |  | 294
Gain on dispositions |  | - |  | 75 |  | - |  | 38 |  | - |  | 113
Other income |  | - |  | (61) |  | - |  | 370 |  | - |  | 309
Intercompany revenues |  | 9 |  | 34 |  | 42 |  | 1,619 |  | (1,704) |  | -
Total Revenues and Other Income |  | 1,912 |  | 6,544 |  | 42 |  | 7,402 |  | (5,735) |  | 10,165
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |
Purchased commodities |  | - |  | 3,880 |  | - |  | 1,196 |  | (1,546) |  | 3,530
Production and operating expenses |  | - |  | 298 |  | - |  | 1,085 |  | (16) |  | 1,367
Selling, general and administrative expenses |  | 2 |  | 99 |  | - |  | 18 |  | - |  | 119
Exploration expenses |  | - |  | 41 |  | - |  | 62 |  | - |  | 103
Depreciation, depletion and amortization |  | - |  | 152 |  | - |  | 1,342 |  | - |  | 1,494
Impairments |  | - |  | 1 |  | - |  | 43 |  | - |  | 44
Taxes other than income taxes |  | - |  | 33 |  | - |  | 279 |  | - |  | 312
Accretion on discounted liabilities |  | - |  | 4 |  | - |  | 85 |  | - |  | 89
Interest and debt expense |  | 72 |  | 156 |  | 37 |  | 63 |  | (142) |  | 186
Foreign currency transaction (gains) losses |  | (12) |  | 3 |  | 42 |  | (28) |  | - |  | 5
Other expenses |  | - |  | 6 |  | - |  | 4 |  | - |  | 10
Total Costs and Expenses |  | 62 |  | 4,673 |  | 79 |  | 4,149 |  | (1,704) |  | 7,259
Income (Loss) before income taxes |  | 1,850 |  | 1,871 |  | (37) |  | 3,253 |  | (4,031) |  | 2,906
Income tax provision (benefit) |  | (11) |  | (32) |  | 1 |  | 1,075 |  | - |  | 1,033
Net income (loss) |  | 1,861 |  | 1,903 |  | (38) |  | 2,178 |  | (4,031) |  | 1,873
Less: net income attributable to noncontrolling interests |  | - |  | - |  | - |  | (12) |  | - |  | (12)
Net Income (Loss) Attributable to ConocoPhillips | $ | 1,861 |  | 1,903 |  | (38) |  | 2,166 |  | (4,031) |  | 1,861
Comprehensive Income Attributable to ConocoPhillips | $ | 2,056 |  | 2,098 |  | 5 |  | 2,330 |  | (4,433) |  | 2,056
Income Statement |  | Three Months Ended September 30, 2017*
Revenues and Other Income |  |  |  |  |  |  |  |  |  |  |  |
Sales and other operating revenues | $ | - |  | 2,997 |  | - |  | 3,691 |  | - |  | 6,688
Equity in earnings of affiliates |  | 486 |  | 348 |  | - |  | 119 |  | (757) |  | 196
Gain (Loss) on dispositions |  | - |  | 879 |  | - |  | (633) |  | - |  | 246
Other income |  | - |  | 12 |  | - |  | 53 |  | - |  | 65
Intercompany revenues |  | 10 |  | 77 |  | 43 |  | 774 |  | (904) |  | -
Total Revenues and Other Income |  | 496 |  | 4,313 |  | 43 |  | 4,004 |  | (1,661) |  | 7,195
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |
Purchased commodities |  | - |  | 2,666 |  | - |  | 1,001 |  | (741) |  | 2,926
Production and operating expenses |  | - |  | 216 |  | - |  | 1,007 |  | (1) |  | 1,222
Selling, general and administrative expenses |  | 2 |  | 97 |  | - |  | 11 |  | - |  | 110
Exploration expenses |  | - |  | 29 |  | - |  | 44 |  | - |  | 73
Depreciation, depletion and amortization |  | - |  | 203 |  | - |  | 1,405 |  | - |  | 1,608
Impairments |  | - |  | 1 |  | - |  | 5 |  | - |  | 6
Taxes other than income taxes |  | - |  | 29 |  | - |  | 146 |  | - |  | 175
Accretion on discounted liabilities |  | - |  | 8 |  | - |  | 81 |  | - |  | 89
Interest and debt expense |  | 86 |  | 169 |  | 37 |  | 121 |  | (162) |  | 251
Foreign currency transaction (gains) losses |  | (27) |  | 1 |  | 77 |  | (46) |  | - |  | 5
Other expenses |  | 50 |  | 29 |  | - |  | (2) |  | - |  | 77
Total Costs and Expenses |  | 111 |  | 3,448 |  | 114 |  | 3,773 |  | (904) |  | 6,542
Income (Loss) before income taxes |  | 385 |  | 865 |  | (71) |  | 231 |  | (757) |  | 653
Income tax provision (benefit) |  | (35) |  | 379 |  | 6 |  | (133) |  | - |  | 217
Net income (loss) |  | 420 |  | 486 |  | (77) |  | 364 |  | (757) |  | 436
Less: net income attributable to noncontrolling interests |  | - |  | - |  | - |  | (16) |  | - |  | (16)
Net Income (Loss) Attributable to ConocoPhillips | $ | 420 |  | 486 |  | (77) |  | 348 |  | (757) |  | 420
Comprehensive Income Attributable to ConocoPhillips | $ | 1,470 |  | 1,536 |  | 22 |  | 864 |  | (2,422) |  | 1,470
*Certain amounts have been reclassified to conform to the current-period presentation resulting from the adoption of ASU No. 2017-07.
See Note 2—Changes in Accounting Principles, for additional information.
See Notes to Consolidated Financial Statements.
|  |  |  | Millions of Dollars
|  |  |  | Nine Months Ended September 30, 2018
Income Statement |  |  | ConocoPhillips |  | ConocoPhillips Company |  | ConocoPhillips Canada Funding Company I |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Revenues and Other Income |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and other operating revenues |  |  | $ | - |  | 11,774 |  | - |  | 14,977 |  | - |  | 26,751
Equity in earnings of affiliates |  |  |  | 4,562 |  | 5,398 |  | - |  | 833 |  | (10,026) |  | 767
Gain on dispositions |  |  |  | - |  | 78 |  | - |  | 97 |  | - |  | 175
Other income |  |  |  | - |  | 230 |  | - |  | 443 |  | - |  | 673
Intercompany revenues |  |  |  | 28 |  | 124 |  | 129 |  | 4,227 |  | (4,508) |  | -
Total Revenues and Other Income |  |  |  | 4,590 |  | 17,604 |  | 129 |  | 20,577 |  | (14,534) |  | 28,366
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchased commodities |  |  |  | - |  | 10,571 |  | - |  | 3,757 |  | (4,020) |  | 10,308
Production and operating expenses |  |  |  | - |  | 723 |  | - |  | 3,181 |  | (53) |  | 3,851
Selling, general and administrative expenses |  |  |  | 7 |  | 254 |  | - |  | 80 |  | (5) |  | 336
Exploration expenses |  |  |  | - |  | 132 |  | - |  | 135 |  | - |  | 267
Depreciation, depletion and amortization |  |  |  | - |  | 427 |  | - |  | 3,917 |  | - |  | 4,344
Impairments |  |  |  | - |  | (9) |  | - |  | 30 |  | - |  | 21
Taxes other than income taxes |  |  |  | - |  | 111 |  | - |  | 657 |  | - |  | 768
Accretion on discounted liabilities |  |  |  | - |  | 13 |  | - |  | 253 |  | - |  | 266
Interest and debt expense |  |  |  | 219 |  | 456 |  | 110 |  | 192 |  | (430) |  | 547
Foreign currency transaction (gains) losses |  |  |  | 22 |  | (6) |  | (43) |  | 34 |  | - |  | 7
Other expenses |  |  |  | - |  | 348 |  | - |  | 2 |  | - |  | 350
Total Costs and Expenses |  |  |  | 248 |  | 13,020 |  | 67 |  | 12,238 |  | (4,508) |  | 21,065
Income before income taxes |  |  |  | 4,342 |  | 4,584 |  | 62 |  | 8,339 |  | (10,026) |  | 7,301
Income tax provision (benefit) |  |  |  | (47) |  | 22 |  | (5) |  | 2,904 |  | - |  | 2,874
Net income |  |  |  | 4,389 |  | 4,562 |  | 67 |  | 5,435 |  | (10,026) |  | 4,427
Less: net income attributable to noncontrolling interests |  |  |  | - |  | - |  | - |  | (38) |  | - |  | (38)
Net Income Attributable to ConocoPhillips |  |  | $ | 4,389 |  | 4,562 |  | 67 |  | 5,397 |  | (10,026) |  | 4,389
Comprehensive Income (Loss) Attributable to ConocoPhillips |  |  | $ | 4,407 |  | 4,580 |  | (13) |  | 5,289 |  | (9,856) |  | 4,407
Income Statement |  |  | Nine Months Ended September 30, 2017*
Revenues and Other Income |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sales and other operating revenues |  |  | $ | - |  | 9,066 |  | - |  | 11,921 |  | - |  | 20,987
Equity in earnings (losses) of affiliates |  |  |  | (2,092) |  | (776) |  | - |  | 432 |  | 3,010 |  | 574
Gain on dispositions |  |  |  | - |  | 908 |  | - |  | 1,236 |  | - |  | 2,144
Other income |  |  |  | 1 |  | 27 |  | - |  | 115 |  | - |  | 143
Intercompany revenues |  |  |  | 39 |  | 222 |  | 126 |  | 2,360 |  | (2,747) |  | -
Total Revenues and Other Income |  |  |  | (2,052) |  | 9,447 |  | 126 |  | 16,064 |  | 263 |  | 23,848
Costs and Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchased commodities |  |  |  | - |  | 8,068 |  | - |  | 3,229 |  | (2,257) |  | 9,040
Production and operating expenses |  |  |  | - |  | 483 |  | - |  | 3,358 |  | (3) |  | 3,838
Selling, general and administrative expenses |  |  |  | 8 |  | 244 |  | - |  | 55 |  | (5) |  | 302
Exploration expenses |  |  |  | - |  | 433 |  | - |  | 287 |  | - |  | 720
Depreciation, depletion and amortization |  |  |  | - |  | 658 |  | - |  | 4,554 |  | - |  | 5,212
Impairments |  |  |  | - |  | 1,075 |  | - |  | 5,400 |  | - |  | 6,475
Taxes other than income taxes |  |  |  | - |  | 114 |  | - |  | 490 |  | - |  | 604
Accretion on discounted liabilities |  |  |  | - |  | 28 |  | - |  | 248 |  | - |  | 276
Interest and debt expense |  |  |  | 340 |  | 505 |  | 110 |  | 399 |  | (482) |  | 872
Foreign currency transaction (gains) losses |  |  |  | (49) |  | 3 |  | 145 |  | (71) |  | - |  | 28
Other expenses |  |  |  | 267 |  | 159 |  | - |  | (5) |  | - |  | 421
Total Costs and Expenses |  |  |  | 566 |  | 11,770 |  | 255 |  | 17,944 |  | (2,747) |  | 27,788
Loss before income taxes |  |  |  | (2,618) |  | (2,323) |  | (129) |  | (1,880) |  | 3,010 |  | (3,940)
Income tax provision (benefit) |  |  |  | (184) |  | (231) |  | 12 |  | (1,146) |  | - |  | (1,549)
Net loss |  |  |  | (2,434) |  | (2,092) |  | (141) |  | (734) |  | 3,010 |  | (2,391)
Less: net income attributable to noncontrolling interests |  |  |  | - |  | - |  | - |  | (43) |  | - |  | (43)
Net Loss Attributable to ConocoPhillips |  |  | $ | (2,434) |  | (2,092) |  | (141) |  | (777) |  | 3,010 |  | (2,434)
Comprehensive Income (Loss) Attributable to ConocoPhillips |  |  | $ | (1,533) |  | (1,191) |  | 39 |  | (37) |  | 1,189 |  | (1,533)
*Certain amounts have been reclassified to conform to the current-period presentation resulting from the adoption of ASU No. 2017-07.
See Note 2—Changes in Accounting Principles, for additional information.
See Notes to Consolidated Financial Statements.
|  | Millions of Dollars
|  | September 30, 2018
Balance Sheet | ConocoPhillips |  | ConocoPhillips Company |  | ConocoPhillips Canada Funding Company I |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | - |  | 16 |  | - |  | 3,700 |  | - |  | 3,716
Short-term investments |  | - |  | - |  | - |  | 875 |  | - |  | 875
Accounts and notes receivable |  | 6 |  | 2,614 |  | 1 |  | 5,301 |  | (3,423) |  | 4,499
Investment in Cenovus Energy |  | - |  | 2,086 |  | - |  | - |  | - |  | 2,086
Inventories |  | - |  | 198 |  | - |  | 1,041 |  | - |  | 1,239
Prepaid expenses and other current assets |  | - |  | 159 |  | 7 |  | 2,169 |  | (27) |  | 2,308
Total Current Assets |  | 6 |  | 5,073 |  | 8 |  | 13,086 |  | (3,450) |  | 14,723
Investments, loans and long-term receivables* |  | 31,249 |  | 51,482 |  | 2,623 |  | 20,829 |  | (96,295) |  | 9,888
Net properties, plants and equipment |  | - |  | 4,495 |  | - |  | 40,709 |  | (468) |  | 44,736
Other assets |  | 19 |  | 484 |  | 178 |  | 1,458 |  | (930) |  | 1,209
Total Assets | $ | 31,274 |  | 61,534 |  | 2,809 |  | 76,082 |  | (101,143) |  | 70,556
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | - |  | 3,444 |  | 7 |  | 3,890 |  | (3,423) |  | 3,918
Short-term debt |  | (3) |  | 12 |  | 7 |  | 88 |  | (9) |  | 95
Accrued income and other taxes |  | - |  | 104 |  | - |  | 1,478 |  | - |  | 1,582
Employee benefit obligations |  | - |  | 476 |  | - |  | 150 |  | - |  | 626
Other accruals |  | 57 |  | 404 |  | 51 |  | 695 |  | (27) |  | 1,180
Total Current Liabilities |  | 54 |  | 4,440 |  | 65 |  | 6,301 |  | (3,459) |  | 7,401
Long-term debt |  | 3,790 |  | 7,152 |  | 1,698 |  | 2,740 |  | (478) |  | 14,902
Asset retirement obligations and accrued environmental costs |  | - |  | 424 |  | - |  | 7,130 |  | - |  | 7,554
Deferred income taxes |  | - |  | - |  | - |  | 5,968 |  | (433) |  | 5,535
Employee benefit obligations |  | - |  | 1,315 |  | - |  | 440 |  | - |  | 1,755
Other liabilities and deferred credits* |  | 2,042 |  | 11,064 |  | 981 |  | 7,643 |  | (20,400) |  | 1,330
Total Liabilities |  | 5,886 |  | 24,395 |  | 2,744 |  | 30,222 |  | (24,770) |  | 38,477
Retained earnings |  | 25,972 |  | 17,591 |  | (614) |  | 16,906 |  | (27,360) |  | 32,495
Other common stockholders’ equity |  | (584) |  | 19,548 |  | 679 |  | 28,825 |  | (49,013) |  | (545)
Noncontrolling interests |  | - |  | - |  | - |  | 129 |  | - |  | 129
Total Liabilities and Stockholders’ Equity | $ | 31,274 |  | 61,534 |  | 2,809 |  | 76,082 |  | (101,143) |  | 70,556
*Includes intercompany loans.
Balance Sheet | December 31, 2017
Assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | - |  | 234 |  | 4 |  | 6,087 |  | - |  | 6,325
Short-term investments |  | - |  | - |  | - |  | 1,873 |  | - |  | 1,873
Accounts and notes receivable |  | 24 |  | 2,255 |  | 35 |  | 4,870 |  | (2,864) |  | 4,320
Investment in Cenovus Energy |  | - |  | 1,899 |  | - |  | - |  | - |  | 1,899
Inventories |  | - |  | 163 |  | - |  | 897 |  | - |  | 1,060
Prepaid expenses and other current assets |  | 1 |  | 278 |  | 6 |  | 779 |  | (29) |  | 1,035
Total Current Assets |  | 25 |  | 4,829 |  | 45 |  | 14,506 |  | (2,893) |  | 16,512
Investments, loans and long-term receivables* |  | 29,400 |  | 47,974 |  | 2,533 |  | 15,050 |  | (84,897) |  | 10,060
Net properties, plants and equipment |  | - |  | 4,230 |  | - |  | 41,930 |  | (477) |  | 45,683
Other assets |  | 15 |  | 1,146 |  | 186 |  | 1,302 |  | (1,542) |  | 1,107
Total Assets | $ | 29,440 |  | 58,179 |  | 2,764 |  | 72,788 |  | (89,809) |  | 73,362
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | - |  | 3,094 |  | 1 |  | 3,799 |  | (2,864) |  | 4,030
Short-term debt |  | (5) |  | 2,505 |  | 7 |  | 77 |  | (9) |  | 2,575
Accrued income and other taxes |  | - |  | 107 |  | - |  | 931 |  | - |  | 1,038
Employee benefit obligations |  | - |  | 554 |  | - |  | 171 |  | - |  | 725
Other accruals |  | 85 |  | 314 |  | 48 |  | 612 |  | (30) |  | 1,029
Total Current Liabilities |  | 80 |  | 6,574 |  | 56 |  | 5,590 |  | (2,903) |  | 9,397
Long-term debt |  | 3,787 |  | 9,321 |  | 1,703 |  | 2,794 |  | (477) |  | 17,128
Asset retirement obligations and accrued environmental costs |  | - |  | 432 |  | - |  | 7,199 |  | - |  | 7,631
Deferred income taxes |  | - |  | - |  | - |  | 6,263 |  | (981) |  | 5,282
Employee benefit obligations |  | - |  | 1,335 |  | - |  | 519 |  | - |  | 1,854
Other liabilities and deferred credits* |  | 1,528 |  | 5,229 |  | 926 |  | 9,215 |  | (15,629) |  | 1,269
Total Liabilities |  | 5,395 |  | 22,891 |  | 2,685 |  | 31,580 |  | (19,990) |  | 42,561
Retained earnings |  | 22,867 |  | 13,317 |  | (681) |  | 11,958 |  | (18,070) |  | 29,391
Other common stockholders’ equity |  | 1,178 |  | 21,971 |  | 760 |  | 29,056 |  | (51,749) |  | 1,216
Noncontrolling interests |  | - |  | - |  | - |  | 194 |  | - |  | 194
Total Liabilities and Stockholders’ Equity | $ | 29,440 |  | 58,179 |  | 2,764 |  | 72,788 |  | (89,809) |  | 73,362
*Includes intercompany loans. |  |
|  | Millions of Dollars
| Nine Months Ended September 30, 2018
Statement of Cash Flows |  | ConocoPhillips |  | ConocoPhillips Company |  | ConocoPhillips Canada Funding Company I |  | All Other Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Cash Flows From Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | 2,331 |  | 863 |  | (121) |  | 8,937 |  | (2,859) |  | 9,151
Cash Flows From Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures and investments |  | - |  | (771) |  | - |  | (4,369) |  | 7 |  | (5,133)
Working capital changes associated with investing activities |  | - |  | (77) |  | - |  | 20 |  | - |  | (57)
Proceeds from asset dispositions |  | - |  | 307 |  | - |  | 199 |  | (112) |  | 394
Sales of short-term investments |  | - |  | - |  | - |  | 996 |  | - |  | 996
Long-term advances/loans—related parties |  | - |  | (36) |  | - |  | (127) |  | 163 |  | -
Collection of advances/loans—related parties |  | - |  | 3,432 |  | - |  | 129 |  | (3,442) |  | 119
Intercompany cash management |  | 514 |  | 3,426 |  | - |  | (3,940) |  | - |  | -
Other |  | - |  | - |  | - |  | 16 |  | - |  | 16
Net Cash Provided by (Used in) Investing Activities |  | 514 |  | 6,281 |  | - |  | (7,076) |  | (3,384) |  | (3,665)
Cash Flows From Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Issuance of debt |  | - |  | 10 |  | 117 |  | 36 |  | (163) |  | -
Repayment of debt |  | - |  | (4,865) |  | - |  | (3,547) |  | 3,442 |  | (4,970)
Issuance of company common stock |  | 234 |  | - |  | - |  | - |  | (113) |  | 121
Repurchase of company common stock |  | (2,073) |  | - |  | - |  | - |  | - |  | (2,073)
Dividends paid |  | (1,009) |  | - |  | - |  | (452) |  | 452 |  | (1,009)
Other |  | 3 |  | (2,511) |  | - |  | (228) |  | 2,625 |  | (111)
Net Cash Provided by (Used in) Financing Activities |  | (2,845) |  | (7,366) |  | 117 |  | (4,191) |  | 6,243 |  | (8,042)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash |  | - |  | 4 |  | - |  | (44) |  | - |  | (40)
Net Change in Cash, Cash Equivalents and Restricted Cash |  | - |  | (218) |  | (4) |  | (2,374) |  | - |  | (2,596)
Cash, cash equivalents and restricted cash at beginning of period* |  | - |  | 234 |  | 4 |  | 6,298 |  | - |  | 6,536
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | - |  | 16 |  | - |  | 3,924 |  | - |  | 3,940
Statement of Cash Flows | Nine Months Ended September 30, 2017
Cash Flows From Operating Activities |  |  |  |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities | $ | (161) |  | 634 |  | 22 |  | 6,868 |  | (2,767) |  | 4,596
Cash Flows From Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures and investments |  | - |  | (1,230) |  | - |  | (2,711) |  | 867 |  | (3,074)
Working capital changes associated with investing activities |  | - |  | 36 |  | - |  | (54) |  | - |  | (18)
Proceeds from asset dispositions |  | 5,000 |  | 10,974 |  | - |  | 12,737 |  | (14,971) |  | 13,740
Purchases of short-term investments |  | - |  | - |  | - |  | (2,583) |  | - |  | (2,583)
Long-term advances/loans—related parties |  | - |  | (74) |  | - |  | (20) |  | 94 |  | -
Collection of advances/loans—related parties |  | 658 |  | 127 |  | - |  | 2,196 |  | (2,866) |  | 115
Intercompany cash management |  | 2,903 |  | (2,474) |  | - |  | (429) |  | - |  | -
Other |  | - |  | - |  | - |  | 51 |  | - |  | 51
Net Cash Provided by Investing Activities |  | 8,561 |  | 7,359 |  | - |  | 9,187 |  | (16,876) |  | 8,231
Cash Flows From Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Issuance of debt |  | - |  | 20 |  | - |  | 74 |  | (94) |  | -
Repayment of debt |  | (5,459) |  | (3,146) |  | - |  | (855) |  | 2,866 |  | (6,594)
Issuance of company common stock |  | 87 |  | - |  | - |  | - |  | (152) |  | (65)
Repurchase of company common stock |  | (2,045) |  | - |  | - |  | - |  | - |  | (2,045)
Dividends paid |  | (986) |  | - |  | - |  | (2,919) |  | 2,919 |  | (986)
Other |  | 3 |  | (5,000) |  | - |  | (9,187) |  | 14,104 |  | (80)
Net Cash Used in Financing Activities |  | (8,400) |  | (8,126) |  | - |  | (12,887) |  | 19,643 |  | (9,770)
Effect of Exchange Rate Changes on Cash and Cash Equivalents |  | - |  | 1 |  | - |  | 243 |  | - |  | 244
Net Change in Cash and Cash Equivalents |  | - |  | (132) |  | 22 |  | 3,411 |  | - |  | 3,301
Cash and cash equivalents at beginning of period |  | - |  | 358 |  | 13 |  | 3,239 |  | - |  | 3,610
Cash and Cash Equivalents at End of Period | $ | - |  | 226 |  | 35 |  | 6,650 |  | - |  | 6,911
*Restated to include $211 million of restricted cash at January 1, 2018. See Note 2—Changes in Accounting Principles for additional information relating to the adoption of ASU
| No. 2016-18.
Restricted cash totaling $224 million is included in the "Other assets" line of our Consolidated Balance Sheet as of September 30, 2018.

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