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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net earnings $ 2,942 $ 3,782 $ 6,037
Adjustments to reconcile net earnings to net cash from operating activities:      
Depreciation, depletion and amortization 3,255 2,554 2,223
Leasehold impairments 5 5 12
Accretion (amortization) of liabilities 8 (16) (31)
Total (gains) losses on commodity derivatives (21) (118) 658
Cash settlements on commodity derivatives 197 47 (1,356)
{Gains} losses on asset dispositions 11 (30) (44)
Deferred income tax expense 311 376 1,179
Share-based compensation 99 93 88
Other 10 (5) (10)
Changes in assets and liabilities, net (217) (144) (226)
Net cash from operating activities 6,600 6,544 8,530
Cash flows from investing activities:      
Capital expenditures (3,645) (3,883) (2,542)
Acquisitions of property and equipment (3,808) (64) (2,583)
Divestitures of property and equipment 24 26 39
Grayson Mill acquired cash 147 0 0
Distributions from investments 68 32 39
Contributions to investments and other (118) (53) (76)
Net cash from investing activities (7,332) (3,942) (5,123)
Cash flows from financing activities:      
Borrowings of long-term debt, net of issuance costs 3,219 0 0
Repayments of long-term debt (472) (242) 0
Repurchases of common stock (1,057) (979) (718)
Dividends paid on common stock (937) (1,858) (3,379)
Contributions from noncontrolling interests 52 37 0
Distributions to noncontrolling interests (51) (45) (30)
Shares exchanged for tax withholdings and other (48) (97) (86)
Net cash from financing activities 706 (3,184) (4,213)
Effect of exchange rate changes on cash (3) 3 (11)
Net change in cash, cash equivalents and restricted cash (29) (579) (817)
Cash, cash equivalents and restricted cash at beginning of period 875 1,454 2,271
Cash, cash equivalents and restricted cash at end of period 846 875 1,454
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 811 853 1,314
Restricted cash 35 22 140
Total cash, cash equivalents and restricted cash $ 846 $ 875 $ 1,454