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.

Devon Energy Corp., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net earnings (loss)	6,037)	2,833)	(2,671)	(353)	3,224)
Net (earnings) loss from discontinued operations, net of income taxes	—)	—)	128)	274)	(2,460)
Depreciation, depletion and amortization	2,223)	2,158)	1,300)	1,497)	1,658)
Asset impairments	—)	—)	2,693)	—)	156)
Leasehold impairments	12)	4)	152)	18)	95)
Accretion (amortization) of liabilities	(31)	(27)	32)	33)	61)
Total (gains) losses on commodity derivatives	658)	1,544)	(155)	454)	(608)
Cash settlements on commodity derivatives	(1,356)	(1,462)	316)	166)	(84)
Gains on asset dispositions	(44)	(168)	(1)	(48)	(263)
Deferred income tax expense (benefit)	1,179)	49)	(328)	(25)	226)
Share-based compensation	88)	99)	88)	115)	161)
Early retirement of debt	—)	(30)	—)	—)	312)
Other	(10)	15)	5)	(6)	(107)
Accounts receivable	(142)	(526)	231)	(3)	88)
Other current assets	(119)	30)	(97)	(7)	(128)
Other long-term assets	90)	12)	(9)	17)	(28)
Accounts payable and revenues and royalties payable	152)	539)	(109)	(46)	153)
Other current liabilities	(97)	(18)	(68)	(66)	(150)
Other long-term liabilities	(110)	(153)	(43)	23)	(78)
Changes in assets and liabilities, net	(226)	(116)	(95)	(82)	(143)
Adjustments to reconcile net earnings (loss) to net cash from operating activities	2,493)	2,066)	4,135)	2,396)	(996)
Net cash from operating activities	8,530)	4,899)	1,464)	2,043)	2,228)
Capital expenditures	(2,542)	(1,989)	(1,153)	(1,910)	(2,451)
Acquisitions of property and equipment	(2,583)	(18)	(8)	(31)	(55)
Divestitures of property and equipment	39)	79)	34)	390)	1,013)
WPX acquired cash	—)	344)	—)	—)	—)
Distributions from investments	39)	35)	—)	—)	—)
Contributions to investments	(76)	(25)	—)	—)	—)
Net cash from investing activities	(5,123)	(1,574)	(1,127)	(1,551)	(1,493)
Repayments of long-term debt	—)	(1,243)	—)	(162)	(922)
Early retirement of debt	—)	(59)	—)	—)	(304)
Repurchases of common stock	(718)	(589)	(38)	(1,849)	(2,956)
Dividends paid on common stock	(3,379)	(1,315)	(257)	(140)	(149)
Contributions from noncontrolling interests	—)	4)	21)	116)	—)
Distributions to noncontrolling interests	(30)	(21)	(14)	—)	—)
Acquisition of noncontrolling interests	—)	(24)	—)	—)	—)
Shares exchanged for tax withholdings and other	(86)	(45)	(18)	(26)	(55)
Net cash from financing activities	(4,213)	(3,292)	(306)	(2,061)	(4,386)
Operating activities	—)	—)	(110)	28)	476)
Investing activities	—)	—)	481)	2,472)	2,548)
Financing activities	—)	—)	—)	(1,578)	183)
Effect of exchange rate changes on cash	—)	—)	(9)	45)	—)
Net change in cash, cash equivalents and restricted cash of discontinued operations	—)	—)	362)	967)	3,207)
Effect of exchange rate changes on cash, continuing operations	(11)	1)	—)	—)	206)
Net change in cash, cash equivalents and restricted cash	(817)	34)	393)	(602)	(238)
Cash, cash equivalents and restricted cash at beginning of period	2,271)	2,237)	1,844)	2,446)	2,684)
Cash, cash equivalents and restricted cash at end of period	1,454)	2,271)	2,237)	1,844)	2,446)

Based on: 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), 10-K (reporting date: 2018-12-31).

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Cash flow statement item	Description	The company
Net cash from 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.	Devon Energy Corp. net cash from operating activities increased from 2020 to 2021 and from 2021 to 2022.
Net cash from 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.	Devon Energy Corp. net cash from investing activities decreased from 2020 to 2021 and from 2021 to 2022.
Net cash from 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.	Devon Energy Corp. net cash from financing activities decreased from 2020 to 2021 and from 2021 to 2022.

Devon Energy Corp. (NYSE:DVN)

Cash Flow Statement