In order to determine net cash provided by operating activities, net income is adjusted by, among other things, changes in current assets and current liabilities as follows (in millions):


	Six Months Ended June 30,
	2024		2023
Decrease (increase) in current assets:

Receivables, net	$	(801)	$	1,225
Inventories	(503)		(73)

Prepaid expenses and other	218		(55)
Increase (decrease) in current liabilities:
Accounts payable	2,021		(1,909)
Accrued expenses	(215)		(128)
Taxes other than income taxes payable	17		(136)
Income taxes payable	(108)		(652)
Changes in current assets and current liabilities	$	629	$	(1,728)

Changes in current assets and current liabilities for the six months ended June 30, 2024 were primarily due to the following:

•The increase in receivables was primarily due to an increase in refined petroleum product sales volumes in June 2024 compared to December 2023; and

•The increase in inventories was due to an increase in inventory volumes valued at higher unit prices in June 2024 compared to December 2023; and

•The increase in accounts payable was due to an increase in crude oil and other feedstock volumes purchased combined with an increase in related prices in June 2024 compared to December 2023.

Changes in current assets and current liabilities for the six months ended June 30, 2023 were primarily due to the following:

•The decrease in receivables was due to a decrease in refined petroleum product prices combined with a decrease in sales volumes in June 2023 compared to December 2022;

•The decrease in accounts payable was due to a decrease in crude oil and other feedstock prices combined with a decrease in related volumes purchased in June 2023 compared to December 2022; and

•The decrease in income taxes payable was primarily due to income tax payments made in 2023.


	Six Months Ended June 30,
	2024		2023
Interest paid in excess of amount capitalized, including interest on finance leases	$	283	$	273
Income taxes paid, net	659		2,410

Supplemental cash flow information related to our operating and finance leases was as follows (in millions):


	Six Months Ended June 30,
	2024				2023
	Operating Leases		Finance Leases		Operating Leases		Finance Leases
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$	250	$	58	$	206	$	54

Financing cash flows	—		113		—		107
Changes in lease balances resulting from new and modified leases	276		194		237		48

Noncash financing activities for the six months ended June 30, 2024 included the conversion by IEnova of $457 million of outstanding borrowings under the IEnova Revolver to additional equity in Central Mexico Terminals, as described in Note 4. There were no other significant noncash investing and financing activities during the six months ended June 30, 2024, except as noted in the table above.

There were no significant noncash investing and financing activities during the six months ended June 30, 2023, except as noted in the table above.