v3.26.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows From Operating Activities    
Net income (loss) $ 6,114 $ 4,820
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation, depletion and amortization 5,889 5,584
Impairments 21 2
Dry hole costs and leasehold impairments 56 85
Accretion on discounted liabilities 196 189
Deferred taxes 149 78
Distributions more (less) than income from equity affiliates 110 (112)
(Gain) loss on dispositions (19) (396)
Other 47 (62)
Working capital adjustments    
Decrease (increase) in accounts and notes receivable (1,085) 973
Decrease (increase) in inventories (19) (84)
Decrease (increase) in prepaid expenses and other current assets (288) (229)
Increase (decrease) in accounts payable 331 (27)
Increase (decrease) in taxes and other accruals 227 (1,221)
Net cash provided by operating activities 11,729 9,600
Cash flows from investing activities    
Capital expenditures and investments (5,972) (6,664)
Working capital changes associated with investing activities 154 551
Proceeds from asset dispositions 190 1,341
Net sales (purchases) of investments (652) (8)
Other (39) (27)
Net cash used in investing activities (6,319) (4,807)
Cash flows from financing activities    
Repayment of debt (175) (806)
Issuance of company common stock (39) (55)
Repurchase of company common stock (3,006) (2,722)
Dividends paid (2,057) (1,982)
Other (79) (55)
Net cash used in financing activities (5,356) (5,620)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (5) 148
Net change in cash, cash equivalents and restricted cash 49 (679)
Cash, cash equivalents and restricted cash at beginning of period 6,916 5,905
Cash, cash equivalents and restricted cash at end of period $ 6,965 $ 5,226