Cash Flow Statement
Quarterly Data
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.
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Income (Loss)
- The net income exhibited significant volatility over the periods analyzed. A substantial loss occurred in the middle of 2020, followed by a strong recovery that extended through the end of 2021. The net income peaked notably in mid-2022 before gradually declining through 2023 and into early 2024, with fluctuating but generally positive values thereafter.
- Depreciation, Depletion, and Amortization
- This expense showed variability but remained generally stable within a range, with a noticeable increase toward the end of 2023 and early 2024, indicating potentially increased asset usage or acquisitions requiring amortization during these periods.
- Dry Hole Expense
- Dry hole expenses were erratic, with spikes particularly around 2020 and some increases in late 2022 and early 2024, suggesting periods of unsuccessful exploration activities.
- Distributions More (Less) Than Income from Equity Affiliates
- This item fluctuated considerably, with negative values predominating but intermittent positive spikes, particularly in late 2023 and early 2024, which may reflect differences in timing between earnings recognition and cash distributions from affiliates.
- Net Before-Tax Gains (Losses) on Asset Retirements and Sales
- Generally exhibiting negative or low values, this category showed some modest fluctuations but no clear trend, indicating minor impacts from asset sales or retirements on overall income.
- Net Foreign Currency Effects
- Foreign currency effects were inconsistent, with alternating positive and negative values, reflecting exposure to currency fluctuations without a persistent directional trend.
- Deferred Income Tax Provision
- The deferred income tax provision showed notable swings, including significant negative values in early 2020 and during 2023, with recovery trends in some subsequent quarters, possibly tied to changes in taxable income or tax legislation.
- Net Increase (Decrease) in Operating Working Capital
- This item was highly volatile, moving between significant inflows and outflows, peaking with large decreases at times in 2023 and early 2024, which could indicate fluctuating operational cash needs or inventory and receivable management.
- Capital Expenditures
- Capital spending demonstrated an increasing trend from 2020 through 2023, peaking in late 2023, then maintaining high levels into 2024, suggesting sustained investment in property, plant, and equipment.
- Proceeds and Deposits Related to Asset Sales and Returns of Investment
- Proceeds from asset sales showed fluctuations without a clear upward or downward trend but had some significant spikes in early 2025, which may indicate strategic divestitures or returns from investments.
- Net Cash Provided by Operating Activities
- Operating cash flow recovered strongly after the downturn in mid-2020, reaching new highs in late 2021 and throughout 2022. There was some moderation in 2023 and early 2024 but values remained robust overall, reflecting solid operational cash generation capacity.
- Net Cash Used for Investing Activities
- Investing cash flows were predominantly negative, consistent with ongoing capital expenditures and acquisitions. There was an anomalous positive spike in early 2025 correlating with asset sale proceeds, signaling a temporary inflow.
- Net Cash Provided by (Used for) Financing Activities
- Financing cash flows shifted from positive in early 2020 to predominantly negative throughout the subsequent periods, suggesting net repayments of debt and share repurchases exceeding new borrowings or financing inflows.
- Debt Activities
- Proceeds from long-term debt issuance showed intermittent activity with some spikes in mid-2024 and early 2025. Repayments of long-term debt were consistent and substantial over time, indicating an emphasis on managing debt levels.
- Shareholder Distributions and Stock Repurchases
- Dividend payments were relatively stable, with a slight upward trend over time. Share repurchases fluctuated greatly, including large buys in early 2022 and consistent repurchases through 2024, reflecting an active capital return program.
- Net Change in Cash, Cash Equivalents and Restricted Cash
- Cash balances varied widely with positive inflows in certain quarters, notably early 2022 and parts of 2023, and significant outflows in others, including multiple quarters in 2023 and early 2024, pointing to dynamic liquidity management responsive to operational and investing cash flows.