| | | | | | | | | | | |
| Six Months Ended
June 30 |
| 2025 | | 2024 |
| (Millions of dollars) |
| Distributions more (less) than income from equity affiliates included the following: | | |
| Distributions from equity affiliates | $ | 2,532 | | | $ | 2,019 | |
| (Income) loss from equity affiliates | (1,356) | | | (2,647) | |
| Distributions more (less) than income from equity affiliates | $ | 1,176 | | | $ | (628) | |
| Net decrease (increase) in operating working capital was composed of the following: |
| Decrease (increase) in accounts and notes receivable | $ | 3,089 | | | $ | (928) | |
| Decrease (increase) in inventories | 153 | | | (1,865) | |
| Decrease (increase) in prepaid expenses and other current assets | 214 | | | 44 | |
| Increase (decrease) in accounts payable and accrued liabilities | (3,962) | | | 419 | |
| Increase (decrease) in income and other taxes payable | (1,624) | | | (1,245) | |
| Net decrease (increase) in operating working capital | $ | (2,130) | | | $ | (3,575) | |
| Net cash provided by operating activities included the following cash payments: |
| Interest on debt (net of capitalized interest) | $ | 410 | | | $ | 238 | |
| Income taxes | 4,136 | | | 4,738 | |
| Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: |
| Proceeds and deposits related to asset sales | $ | 932 | | | $ | 103 | |
| Returns of investment from equity affiliates | 58 | | | 115 | |
| Proceeds and deposits related to asset sales and returns of investment | $ | 990 | | | $ | 218 | |
Net maturities of (investments in) time deposits consisted of the following gross amounts: |
| Investments in time deposits | $ | (9) | | | $ | — | |
| Maturities of time deposits | 9 | | | — | |
| Net maturities of (investments in) time deposits | $ | — | | | $ | — | |
| Net sales (purchases) of marketable securities consisted of the following gross amounts: |
| Marketable securities purchased | $ | — | | | $ | — | |
| Marketable securities sold | — | | | 45 | |
| Net sales (purchases) of marketable securities | $ | — | | | $ | 45 | |
Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts: |
| Borrowing of loans by equity affiliates | $ | (216) | | | $ | (154) | |
| Repayment of loans by equity affiliates | 40 | | | 36 | |
| Net repayment (borrowing) of loans by equity affiliates | $ | (176) | | | $ | (118) | |
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: |
| Proceeds from issuances of short-term debt obligations | $ | 6,779 | | | $ | — | |
| Repayments of short-term debt obligations | (3,957) | | | — | |
| Net borrowings (repayments) of short-term debt obligations with three months or less maturity | (931) | | | 3,119 | |
| Net borrowings (repayments) of short-term obligations | $ | 1,891 | | | $ | 3,119 | |
Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts: |
| Distributions to noncontrolling interests | $ | (34) | | | $ | (7) | |
| Contributions from noncontrolling interests | 4 | | | 9 | |
| Net contributions from (distributions to) noncontrolling interests | $ | (30) | | | $ | 2 | |
| Net sales (purchases) of treasury shares consisted of the following gross and net amounts: |
| Shares issued for share-based compensation plans | $ | 229 | | | $ | 158 | |
| Shares purchased under share repurchase and executive compensation plans | (6,515) | | | (5,979) | |
| Share Repurchase excise tax payment | (146) | | | — | |
| Net sales (purchases) of treasury shares | $ | (6,432) | | | $ | (5,821) | |