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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities    
Net income $ 1,375 $ 1,313
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, depletion and amortization 1,171 1,122
Deferred income taxes 357 354
Amortization of excess cost of equity investments 25 36
Change in fair value of derivative contracts 52 (129)
Gain on divestitures, net (77) (13)
Earnings from equity investments (451) (373)
Distributions of equity investment earnings 416 367
Changes in components of working capital    
Accounts receivable 267 573
Inventories (7) 101
Other current assets (10) 89
Accounts payable (121) (370)
Accrued interest, net of interest rate swaps 25 (6)
Accrued taxes (48) (52)
Other current liabilities (78) (82)
Other, net (20) (47)
Net Cash Provided by Operating Activities 2,876 2,883
Cash Flows From Investing Activities    
Acquisition of assets (Note 2) (58) (14)
Capital expenditures (1,200) (1,042)
Contributions to investments (44) (136)
Distributions from equity investments in excess of cumulative earnings 81 118
Other, net 49 (12)
Net Cash Used in Investing Activities (1,172) (1,086)
Cash Flows From Financing Activities    
Issuances of debt 5,943 3,119
Payments of debt (6,239) (3,511)
Debt issue costs (19) (15)
Dividends (1,272) (1,264)
Repurchases of shares (7) (317)
Distributions to noncontrolling interests (81) (80)
Other, net (1) (3)
Net Cash Used in Financing Activities (1,676) (2,071)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Deposits 28 (274)
Cash and Cash Equivalents, beginning of period 83 745
Restricted Deposits, beginning of period 13 49
Cash, Cash Equivalents and Restricted Deposits, beginning of period 96 794
Cash and Cash Equivalents, end of period 98 497
Restricted Deposits, end of period 26 23
Cash, Cash Equivalents and Restricted Deposits, end of period 124 520
Non-cash Investing and Financing Activities    
ROU assets and operating lease obligations recognized including adjustments 25 31
Assets contributed to equity investment 0 16
Net increase in property, plant and equipment from both accruals and contractor retainage 74
Supplemental Disclosures of Cash Flow Information    
Cash paid during the period for interest (net of capitalized interest) 914 919
Cash paid during the period for income taxes, net $ 11 $ 9