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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net Income $ 5,152 $ 10,904
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, depletion and amortization 3,952 3,633
Impairments 1 4
Dry hole costs and leasehold impairments 102 104
Accretion on discounted liabilities 136 122
Deferred taxes 489 868
Undistributed equity earnings 652 591
Gain on dispositions (92) (1,079)
Gain on investment in Cenovus Energy 0 (251)
Other (7) (37)
Working capital adjustments    
Decrease (increase) in accounts and notes receivable 2,246 (1,861)
Increase in inventories (23) (53)
Decrease (increase) in prepaid expenses and other current assets 295 (283)
Increase (decrease) in accounts payable (1,614) 635
Decrease in taxes and other accruals (2,032) (315)
Net Cash Provided by Operating Activities 9,257 12,982
Cash Flows From Investing Activities    
Capital expenditures and investments (5,820) (5,129)
Working capital changes associated with investing activities 86 496
Acquisition of businesses, net of cash acquired 0 37
Proceeds from asset dispositions 426 2,951
Net (purchase) sale of investments 1,549 (1,104)
Collection of advances/loans—related parties 0 55
Other (5) (8)
Net Cash Used in Investing Activities (3,764) (2,702)
Cash Flows From Financing Activities    
Issuance of debt 1,093 2,897
Repayment of debt (1,200) (5,829)
Issuance of company common stock (95) 350
Repurchase of company common stock (3,000) (3,725)
Dividends paid (2,838) (1,852)
Other (11) (56)
Net Cash Used in Financing Activities (6,051) (8,215)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (162) (237)
Net Change in Cash, Cash Equivalents and Restricted Cash (720) 1,828
Cash, cash equivalents and restricted cash at beginning of period 6,694 [1] 5,398
Cash, Cash Equivalents and Restricted Cash at End of Period $ 5,974 [2] $ 7,226
[1] Restricted cash of $236 million is included in the "Other assets" line of our Consolidated Balance Sheet as of December 31, 2022.
[2] Restricted cash of $239 million is included in the "Other assets" line of our Consolidated Balance Sheet as of June 30, 2023.