v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:        
Net earnings $ 1,911 $ 917 $ 2,031 $ 1,426
Adjustments to reconcile net earnings to net cash from operating activities:        
Depreciation, depletion and amortization 1,416 914 2,320 1,826
Asset impairments 0 0 0 254
Leasehold impairments 9 7 12 12
Accretion of liabilities 7 3 11 9
Total (gains) losses on commodity derivatives (414) (236) 287 (138)
Cash settlements on commodity derivatives (116) 67 (173) 57
Gains on asset dispositions (25) (307) (24) (305)
Deferred income tax expense 95 18 329 59
Share-based compensation 71 23 93 53
Other (204) 5 (182) (17)
Changes in assets and liabilities, net 924 134 625 251
Net cash from operating activities 3,674 1,545 5,329 3,487
Cash flows from investing activities:        
Cash acquired in Merger 581 0 581 0
Capital expenditures (1,318) (956) (2,157) (1,890)
Acquisitions of property and equipment (2,729) (16) (2,919) (24)
Divestitures of property, equipment and investments 88 372 90 505
Distributions from investments 13 11 22 20
Contributions to investments and other (10) (8) (12) (10)
Net cash from investing activities (3,375) (597) (4,395) (1,399)
Cash flows from financing activities:        
Repayments of long-term debt (500) 0 (500) 0
Repurchases of common stock (197) (249) (266) (550)
Dividends paid on common stock (366) (156) (521) (319)
Contributions from noncontrolling interests 0 0 0 14
Distributions to noncontrolling interests 0 (14) 0 (23)
Repayment of finance lease (2) 0 (5) (274)
Shares exchanged for tax withholdings and other (44) (5) (71) (24)
Net cash from financing activities (1,109) (424) (1,363) (1,176)
Effect of exchange rate changes on cash 4 1 4 1
Net change in cash, cash equivalents and restricted cash (806) 525 (425) 913
Cash, cash equivalents and restricted cash at beginning of period 1,815 1,234 1,434 846
Cash, cash equivalents and restricted cash at end of period 1,009 1,759 1,009 1,759
Reconciliation of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 950 1,713 950 1,713
Restricted cash 59 46 59 46
Total cash, cash equivalents and restricted cash $ 1,009 $ 1,759 $ 1,009 $ 1,759