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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities    
Net Income $ 10,904 $ 3,073
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, depletion and amortization 3,633 3,753
Impairments 4 (1)
Dry hole costs and leasehold impairments 104 7
Accretion on discounted liabilities 122 125
Deferred taxes 868 567
Undistributed equity earnings 591 317
Gain on dispositions (1,079) (292)
Gain on investment in Cenovus Energy (251) (726)
Other (37) (688)
Working capital adjustments    
Increase in accounts and notes receivable (1,861) (794)
Increase in inventories (53) (89)
Increase in prepaid expenses and other current assets (283) (388)
Increase in accounts payable 635 323
Increase (decrease) in taxes and other accruals (315) 1,144
Net Cash Provided by Operating Activities 12,982 6,331
Cash Flows From Investing Activities    
Capital expenditures and investments (5,129) (2,465)
Working capital changes associated with investing activities 496 2
Acquisition of businesses, net of cash acquired 37 382
Proceeds from asset dispositions 2,951 160
Net (purchase) sale of investments (1,104) 1,302
Collection of advances/loans—related parties 55 52
Other (8) 86
Net Cash Used in Investing Activities (2,702) (481)
Cash Flows From Financing Activities    
Issuance of debt 2,897 0
Repayment of debt (5,829) (44)
Issuance of company common stock 350 (25)
Repurchase of company common stock (3,725) (981)
Dividends paid (1,852) (1,171)
Other (56) 3
Net Cash Used in Financing Activities (8,215) (2,218)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (237) 9
Net Change in Cash, Cash Equivalents and Restricted Cash 1,828 3,641
Cash, cash equivalents and restricted cash at beginning of period 5,398 [1] 3,315
Cash, Cash Equivalents and Restricted Cash at End of Period $ 7,226 [2] $ 6,956
[1] Restricted cash of $152 million and $218 million are included in the "Prepaid expenses and other current assets" and "Other assets" lines, respectively, of our Consolidated Balance Sheet as of December 31, 2021.
[2] Restricted cash of $317 million is included in the "Other assets" line of our Consolidated Balance Sheet as of June 30, 2022.