v3.26.3
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows From Operating Activities    
Net income (loss) $ 10,115 $ 6,546
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation, depletion and amortization 8,894 8,501
Impairments 39 12
Dry hole costs and leasehold impairments 73 105
Accretion on discounted liabilities 295 283
Deferred taxes 256 432
Distributions more (less) than income from equity affiliates (26) 277
(Gain) loss on dispositions (73) (399)
Other 162 (203)
Working capital adjustments    
Decrease (increase) in accounts and notes receivable (1,974) 921
Decrease (increase) in inventories (116) 49
Decrease (increase) in prepaid expenses and other current assets (211) (117)
Increase (decrease) in accounts payable 943 (211)
Increase (decrease) in taxes and other accruals 547 (718)
Net cash provided by operating activities 18,924 15,478
Cash flows from investing activities    
Capital expenditures and investments (9,105) (9,530)
Working capital changes associated with investing activities 200 488
Proceeds from asset dispositions 1,756 1,632
Net sales (purchases) of investments (1,677) (556)
Other (13) (20)
Net cash used in investing activities (8,839) (7,986)
Cash flows from financing activities    
Repayment of debt (822) (851)
Issuance of debt 600 0
Issuance of company common stock (48) (65)
Repurchase of company common stock (5,407) (3,996)
Dividends paid (3,064) (2,957)
Other (80) (75)
Net cash used in financing activities (8,821) (7,944)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 37 146
Net change in cash, cash equivalents and restricted cash 1,301 (306)
Cash, cash equivalents and restricted cash at beginning of period 6,916 5,905
Cash, cash equivalents and restricted cash at end of period $ 8,217 $ 5,599