| Information Relating to the Consolidated Statement of Cash Flows |
Information Relating to the Consolidated Statement of Cash Flows | | | | | | | | | | | | | Three Months Ended
March 31 | | 2026 | | 2025 | | (Millions of dollars) | | Distributions more (less) than income from equity affiliates included the following: | | Distributions from equity affiliates | $ | 345 | | | $ | 1,088 | | | (Income) loss from equity affiliates | (745) | | | (820) | | | Distributions more (less) than income from equity affiliates | $ | (400) | | | $ | 268 | | | Net decrease (increase) in operating working capital was composed of the following: | | Decrease (increase) in accounts and notes receivable | $ | (7,199) | | | $ | 1,137 | | | Decrease (increase) in inventories | (843) | | | (201) | | | Decrease (increase) in prepaid expenses and other current assets | (488) | | | (769) | | | Increase (decrease) in accounts payable and accrued liabilities | 3,460 | | | (1,307) | | | Increase (decrease) in income and other taxes payable | 445 | | | (1,268) | | | Net decrease (increase) in operating working capital | $ | (4,625) | | | $ | (2,408) | | | Net cash provided by operating activities included the following cash payments: | | Interest on debt (net of capitalized interest) | $ | 292 | | | $ | 124 | | | Income taxes | 1,512 | | | 2,552 | | | Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: | | Proceeds and deposits related to asset sales | $ | 29 | | | $ | 593 | | | Returns of investment from equity affiliates | 43 | | | 7 | | | Proceeds and deposits related to asset sales and returns of investment | $ | 72 | | | $ | 600 | | Net maturities of (investments in) time deposits consisted of the following gross amounts: | | Investments in time deposits | $ | (4) | | | $ | (4) | | | Maturities of time deposits | 4 | | | 4 | | | Net maturities of (investments in) time deposits | $ | — | | | $ | — | | | | | | | | | | | | | | | Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts: | | Borrowing of loans by equity affiliates | $ | (41) | | | $ | (87) | | | Repayment of loans by equity affiliates | 1,020 | | | 21 | | | Net repayment (borrowing) of loans by equity affiliates | $ | 979 | | | $ | (66) | | Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: | | Proceeds from issuances of short-term debt obligations | $ | 4,081 | | | $ | 2,317 | | | Repayments of short-term debt obligations | (856) | | | (1,933) | | | Net borrowings (repayments) of short-term debt obligations with three months or less maturity | 2,192 | | | (784) | | | Net borrowings (repayments) of short-term obligations | $ | 5,417 | | | $ | (400) | | Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts: | | Distributions to noncontrolling interests | $ | (154) | | | $ | (15) | | | Contributions from noncontrolling interests | 2 | | | 4 | | | Net contributions from (distributions to) noncontrolling interests | $ | (152) | | | $ | (11) | | | Net sales (purchases) of treasury shares consisted of the following gross and net amounts: | | Shares issued for share-based compensation plans | $ | 1,160 | | | $ | 218 | | | Shares purchased under share repurchase and executive compensation plans | (2,572) | | | (3,917) | | | Share repurchase excise tax payment | — | | | — | | | Net sales (purchases) of treasury shares | $ | (1,412) | | | $ | (3,699) | |
The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash. The “Other” line in the Operating Activities section includes changes in asset retirement obligations, abandonment and decommissioning obligations associated with previously sold assets, postretirement benefits obligations, equity-based compensation adjustments, and other long-term liabilities. The company paid dividends of $1.78 per share of common stock in first quarter 2026. This compares to dividends of $1.71 per share paid in the year-ago corresponding period. The components of “Capital expenditures” are presented in the following table: | | | | | | | | | | | | | Three Months Ended
March 31 | | 2026 | | 2025 | | (Millions of dollars) | Additions to properties, plant and equipment | $ | 3,969 | | | $ | 3,761 | | | Additions to investments | 25 | | | 60 | | | Current-year dry hole expenditures | 69 | | | $ | 106 | | | | | | | Capital expenditures | $ | 4,063 | | | $ | 3,927 | |
The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: | | | | | | | | | | | | | | | | | | | | | | | | | At March 31 | | At December 31 | | 2026 | | 2025 | | 2025 | | 2024 | | (Millions of dollars) | | (Millions of dollars) | | Cash and cash equivalents | $ | 5,323 | | | $ | 4,638 | | | $ | 6,293 | | | $ | 6,781 | | | Restricted cash included in “Prepaid expenses and other current assets” | 199 | | | 325 | | | 174 | | | 281 | | | Restricted cash included in “Deferred charges and other assets” | 794 | | | 1,203 | | | 818 | | | 1,200 | | | Total cash, cash equivalents and restricted cash | $ | 6,316 | | | $ | 6,166 | | | $ | 7,285 | | | $ | 8,262 | |
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