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v3.20.1

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2020 | Mar. 31, 2019
Cash flows from operating activities: |  |
Net income (loss) | $ (1,754) | $ 167
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |
Depreciation and amortization expense | 582 | 551
LCM inventory valuation adjustment | 2,542 | 0
Deferred income tax benefit | (162) | (22)
Changes in current assets and current liabilities | (1,107) | 130
Changes in deferred charges and credits and other operating activities, net | (150) | 51
Net cash provided by (used in) operating activities | (49) | 877
Cash flows from investing activities: |  |
Investments in unconsolidated joint ventures | (19) | (63)
Other investing activities, net | 10 | (2)
Net cash used in investing activities | (757) | (747)
Cash flows from financing activities: |  |
Purchases of common stock for treasury | (147) | (36)
Common stock dividends | (401) | (375)
Acquisition of VLP publicly held common units | 0 | (950)
Other financing activities, net | (1) | (25)
Net cash used in financing activities | (195) | (378)
Effect of foreign exchange rate changes on cash | (67) | 43
Net decrease in cash and cash equivalents | (1,068) | (205)
Cash and cash equivalents at beginning of period | 2,583 | 2,982
Cash and cash equivalents at end of period | 1,515 | 2,777
Excluding Variable Interest Entities (VIEs) [Member] |  |
Cash flows from investing activities: |  |
Capital expenditures | (299) | (431)
Deferred turnaround and catalyst cost expenditures | (309) | (219)
Cash flows from financing activities: |  |
Proceeds from debt issuances and borrowings | 300 | 1,892
Repayments of debt and finance lease obligations | (15) | (906)
Variable Interest Entities (VIEs) [Member] |  |
Cash flows from financing activities: |  |
Proceeds from debt issuances and borrowings | 70 | 23
Repayments of debt and finance lease obligations | (1) | (1)
Diamond Green Diesel Holdings LLC (DGD) [Member] |  |
Cash flows from investing activities: |  |
Capital expenditures | (74) | (13)
Deferred turnaround and catalyst cost expenditures | (4) | 0
Other VIEs [Member] |  |
Cash flows from investing activities: |  |
Capital expenditures | $ (62) | $ (19)

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