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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 761 $ 829
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization [1] 685 640
Deferred taxes 53 (37)
Stock-based compensation expense 101 91
Earnings of equity method investments, less dividends received 3 (10)
Change in assets and liabilities:    
Increase in receivables [2] (338) (472)
Increase in inventories [2] (224) (214)
(Increase) decrease in other current assets [2] (55) 80
Decrease (increase) in other assets [2] 3 (11)
Decrease in accounts payable and accrued liabilities [2] (383) (275)
Decrease in estimated liability for taxes on income [2] (102) (56)
(Decrease) increase in other liabilities [2] (26) 27
Other [2] 9 68
NET CASH PROVIDED BY OPERATING ACTIVITIES 487 660
Cash flows from investing activities:    
Capital expenditures (343) (398)
APS investments (103) (108)
Exploration data costs capitalized (64) (51)
Business acquisitions and investments, net of cash acquired (57) (37)
Sales of short-term investments, net 600 177
Other 0 (15)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 33 (432)
Cash flows from financing activities:    
Stock repurchase program (451) (2,300)
Dividends paid (426) (386)
Proceeds from employee stock purchase plan 104 105
Proceeds from exercise of stock options 74 8
Taxes paid on net settled stock-based compensation awards (59) (53)
Proceeds from issuance of long-term debt 782 1,805
Repayment of long-term debt (732) 0
Net decrease in short-term borrowings (3) (27)
Other (23) (30)
NET CASH USED IN FINANCING ACTIVITIES (734) (878)
Net decrease in cash before translation effect (214) (650)
Translation effect on cash (3) 42
Cash, beginning of period 3,036 3,544
Cash, end of period $ 2,819 $ 2,936
[1] Includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and Asset Performance Solutions ("APS") investments.
[2] Net of the effect of business acquisitions and divestitures.