Cash Flow Statement
Yearly figures
| (mln. USD) | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|
| Operating activities | ||||
| Net income | 3013 | 4658 | 4143 | 3661 |
| Reconciliation of net income to net cash provided by operating activities: | ||||
| Income from equity affiliates, net of dividends received | 11 | -230 | -331 | -220 |
| Deferred income tax expense (benefit) | -27 | 39 | 12 | 80 |
| Depreciation, depletion and amortization | 1475 | 1309 | 929 | 803 |
| Asset retirement obligation accretion expense net of spending on existing obligations | 27 | 13 | 22 | 21 |
| Allowance for doubtful accounts | 44 | -8 | -20 | |
| Gain on disposal of property, plant and equipment and investments | -6 | -16 | -16 | -24 |
| Changes in assets and liabilities: | ||||
| Accounts receivable | -393 | 413 | 123 | -451 |
| Inventories | -248 | -173 | -302 | -345 |
| Other current assets | -290 | 89 | 23 | -238 |
| Other non-current assets | -185 | -60 | -55 | -27 |
| Accounts payable and accrued liabilities | 156 | -70 | 485 | 110 |
| Income and other taxes payable | 188 | -572 | 330 | -30 |
| Net cash provided by operating activities | 3474 | 5483 | 5316 | 3320 |
| Investing activities | ||||
| Purchase of investments in associated entities | -2282 | -33 | -3747 | -124 |
| Loans and short-term investments received | 247 | 372 | 334 | 48 |
| Loans and short-term investments issued | -246 | -557 | -42 | -290 |
| Proceeds from disposals of property, plant and equipment and investments | 10 | 82 | 31 | 27 |
| Capital expenditures | -2607 | -3366 | -2212 | -1525 |
| Net cash used in investing activities | -4879 | -3502 | -5636 | -1864 |
| Financing activities | ||||
| Short and long-term loans proceeds received | 5702 | 2367 | 4906 | 772 |
| Short and long-term loans repaid | -4580 | -2096 | -3155 | -610 |
| Dividends paid | -937 | -792 | -2071 | -602 |
| Purchase of treasury shares | – | -45 | – | – |
| Net cash used in financing activities | 185 | -566 | -320 | -440 |
| Effect of exchange rate changes on cash | 13 | -61 | 26 | 14 |
| Change in cash and cash equivalents | -1207 | 1354 | -614 | 1030 |
| Cash and cash equivalents as of the beginning of the year | 2075 | 721 | 1335 | 305 |
| Cash and cash equivalents as of the end of the year | 868 | 2075 | 721 | 1335 |
| Supplemental disclosures of cash flows information | ||||
| Cash paid for interest (net of amount capitalized) | 329 | 159 | 158 | 131 |
| Cash paid for income taxes | 528 | 1819 | 1087 | 1104 |