Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

ConocoPhillips, consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income (loss)	10,957)	18,680)	8,079)	(2,655)	7,257)
Depreciation, depletion and amortization	8,270)	7,504)	7,208)	5,521)	6,090)
Impairments	14)	(12)	674)	813)	405)
Dry hole costs and leasehold impairments	162)	340)	44)	1,083)	421)
Accretion on discounted liabilities	283)	250)	242)	252)	326)
Deferred taxes	1,145)	2,086)	1,346)	(834)	(444)
Distributions more (less) than income from equity affiliates	964)	942)	446)	645)	594)
Gain on dispositions	(228)	(1,077)	(486)	(549)	(1,966)
(Gain) loss on investment in Cenovus Energy	—)	(251)	(1,040)	855)	(649)
Other	(220)	86)	(788)	43)	(351)
(Increase) decrease in accounts and notes receivable	1,333)	(963)	(2,500)	521)	505)
(Increase) decrease in inventories	(103)	(38)	(160)	(25)	(67)
(Increase) decrease in prepaid expenses and other current assets	337)	(173)	(649)	76)	37)
Increase (decrease) in accounts payable	(1,118)	901)	1,399)	(249)	(378)
Increase (decrease) in taxes and other accruals	(1,831)	39)	3,181)	(695)	(676)
Working capital adjustments	(1,382)	(234)	1,271)	(372)	(579)
Adjustments to reconcile net income (loss) to net cash provided by operating activities	9,008)	9,634)	8,917)	7,457)	3,847)
Net cash provided by operating activities	19,965)	28,314)	16,996)	4,802)	11,104)
Capital expenditures and investments	(11,248)	(10,159)	(5,324)	(4,715)	(6,636)
Working capital changes associated with investing activities	30)	520)	134)	(155)	(103)
Acquisition of businesses, net of cash acquired	(2,724)	(60)	(8,290)	—)	—)
Proceeds from asset dispositions	632)	3,471)	1,653)	1,317)	3,012)
Net (purchases) sales of investments	1,373)	(2,629)	3,091)	(658)	(2,910)
Collection of advances/loans, related parties	—)	114)	105)	116)	127)
Other	(63)	2)	87)	(26)	(108)
Net cash used in investing activities	(12,000)	(8,741)	(8,544)	(4,121)	(6,618)
Issuance of debt	3,787)	2,897)	—)	300)	—)
Repayment of debt	(1,379)	(6,267)	(505)	(254)	(80)
Issuance of company common stock	(52)	362)	145)	(5)	(30)
Repurchase of company common stock	(5,400)	(9,270)	(3,623)	(892)	(3,500)
Dividends paid	(5,583)	(5,726)	(2,359)	(1,831)	(1,500)
Other	(34)	(49)	7)	(26)	(119)
Net cash used in financing activities	(8,661)	(18,053)	(6,335)	(2,708)	(5,229)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(99)	(224)	(34)	(20)	(46)
Net change in cash, cash equivalents and restricted cash	(795)	1,296)	2,083)	(2,047)	(789)
Cash, cash equivalents and restricted cash at beginning of period	6,694)	5,398)	3,315)	5,362)	6,151)
Cash, cash equivalents and restricted cash at end of period	5,899)	6,694)	5,398)	3,315)	5,362)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	ConocoPhillips net cash provided by operating activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	ConocoPhillips net cash used in investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	ConocoPhillips net cash used in financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

ConocoPhillips (NYSE:COP)

Cash Flow Statement