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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows From Operating Activities      
Net income (loss) $ 18,680 $ 8,079 $ (2,655)
Adjustments to reconcile net income (loss) to net cash provided by operating activities      
Depreciation, depletion and amortization 7,504 7,208 5,521
Impairments (12) 674 813
Dry hole costs and leasehold impairments 340 44 1,083
Accretion on discounted liabilities 250 242 252
Deferred taxes 2,086 1,346 (834)
Undistributed equity earnings 942 446 645
Gain on dispositions (1,077) (486) (549)
(Gain) loss on investment in Cenovus Energy (251) (1,040) 855
Other 86 (788) 43
Working capital adjustments      
Decrease (increase) in accounts and notes receivable (963) (2,500) 521
Increase in inventories (38) (160) (25)
Decrease (increase) in prepaid expenses and other current assets (173) (649) 76
Increase (decrease) in accounts payable 901 1,399 (249)
Increase (decrease) in taxes and other accruals 39 3,181 (695)
Net Cash Provided by Operating Activities 28,314 16,996 4,802
Cash Flows From Investing Activities      
Capital expenditures and investments (10,159) (5,324) (4,715)
Working capital changes associated with investing activities 520 134 (155)
Acquisition of businesses, net of cash acquired (60) (8,290) 0
Proceeds from asset dispositions 3,471 1,653 1,317
Net sales (purchases) of investments (2,629) 3,091 (658)
Collection of advances/loans—related parties 114 105 116
Other 2 87 (26)
Net Cash Used in Investing Activities (8,741) (8,544) (4,121)
Cash Flows From Financing Activities      
Issuance of debt 2,897 0 300
Repayment of debt (6,267) (505) (254)
Issuance of company common stock 362 145 (5)
Repurchase of company common stock (9,270) (3,623) (892)
Dividends paid (5,726) (2,359) (1,831)
Other (49) 7 (26)
Net Cash Used in Financing Activities (18,053) (6,335) (2,708)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (224) (34) (20)
Net Change in Cash, Cash Equivalents and Restricted Cash 1,296 2,083 (2,047)
Cash, cash equivalents and restricted cash at beginning of period 5,398 [1] 3,315 5,362
Cash, Cash Equivalents and Restricted Cash at End of Period $ 6,694 [2] $ 5,398 [1] $ 3,315
[1] Restricted cash of $152 million and $218 million is 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 $236 million is included in the “Other assets” line of our Consolidated Balance Sheet as of December 31, 2022.