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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 6 Months Ended
--- | ---
Jun. 30, 2024 | Jun. 30, 2023
Cash flows from operating activities |  |
Net income for the period | $ 4,480 | $ 13,229
Adjustments for: |  |
Pension and medical benefits | 2,135 | 759
Results of equity-accounted investments | 281 | (13)
Depreciation, depletion and amortization | 6,500 | 6,173
Impairment of assets (reversals), net | (46) | 404
Inventory write down (write-back) to net realizable value | (44) | 6
Allowance for credit loss on trade and other receivables, net | 48 | 34
Exploratory expenditure write-offs | 105 | 38
Gain on disposal/write-offs of assets | (286) | (1,187)
Foreign exchange, indexation and finance charges | 8,975 | 847
Income taxes | 2,120 | 6,172
Revision and unwinding of discount on the provision for decommissioning costs | 539 | 443
Results from co-participation agreements in bid areas | (103) | (28)
Early termination and cash outflows revision of lease agreements | (146) | (258)
Losses with legal, administrative and arbitration proceedings, net | 521 | 531
Decrease (Increase) in assets |  |
Trade and other receivables | 1,459 | 1,175
Inventories | (355) | 1,080
Judicial deposits | 574 | (782)
Other assets | (71) | 275
Increase (Decrease) in liabilities |  |
Trade payables | 242 | (291)
Other taxes payable | (1,862) | (964)
Pension and medical benefits | (482) | (451)
Provisions for legal proceedings | (200) | (219)
Other employee benefits | (370) | (216)
Provision for decommissioning costs | (463) | (338)
Other liabilities | (357) | (128)
Income taxes paid | (4,721) | (6,302)
Net cash provided by operating activities | 18,473 | 19,989
Cash flows from investing activities |  |
Acquisition of PP&E and intangible assets | (5,772) | (5,335)
Acquisition of equity interests | (6) | (17)
Proceeds from disposal of assets - Divestment | 766 | 3,461
Financial compensation from co-participation agreements | 397 | 391
Investment in marketable securities | (805) | (468)
Dividends received | 64 | 69
Net cash used in investing activities | (5,356) | (1,899)
Cash flows from financing activities |  |
Changes in non-controlling interest | 125 | (50)
Proceeds from finance debt | 567 | 62
Repayment of principal - finance debt | (2,318) | (1,482)
Repayment of interest - finance debt | (995) | (1,004)
Repayment of lease liability | (3,883) | (2,862)
Dividends paid to Shareholders of Petrobras | (10,578) | (10,397)
Share repurchase program | (380) |
Dividends paid to non-controlling interests | (77) | (48)
Net cash used in financing activities | (17,539) | (15,781)
Effect of exchange rate changes on cash and cash equivalents | (421) | 46
Net change in cash and cash equivalents | (4,843) | 2,355
Cash and cash equivalents at the beginning of the period | 12,727 | 7,996
Cash and cash equivalents at the end of the period | $ 7,884 | $ 10,351

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