Chevron 2014 Annual Report Download - page 36

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Consolidated Statement of Cash Flows
Millions of dollars
Year ended December 31
2014 2013 2012
Operating Activities
Net Income $ 19,310 $ 21,597 $ 26,336
Adjustments
Depreciation, depletion and amortization 16,793 14,186 13,413
Dry hole expense 875 683 555
Distributions less than income from equity affiliates (2,202) (1,178) (1,351)
Net before-tax gains on asset retirements and sales (3,540) (639) (4,089)
Net foreign currency effects (277) (103) 207
Deferred income tax provision 1,572 1,876 2,015
Net (increase) decrease in operating working capital (540) (1,331) 363
(Increase) decrease in long-term receivables (9) 183 (169)
Decrease (increase) in other deferred charges 263 (321) 1,047
Cash contributions to employee pension plans (392) (1,194) (1,228)
Other (378) 1,243 1,713
Net Cash Provided by Operating Activities 31,475 35,002 38,812
Investing Activities
Capital expenditures (35,407) (37,985) (30,938)
Proceeds and deposits related to asset sales 5,729 1,143 2,777
Net sales of time deposits —700 3,250
Net (purchases) sales of marketable securities (148) 3 (3)
Net repayment of loans by equity affiliates 140 314 328
Net (purchases) sales of other short-term investments (207) 216 (210)
Net Cash Used for Investing Activities (29,893) (35,609) (24,796)
Financing Activities
Net borrowings of short-term obligations 3,431 2,378 264
Proceeds from issuances of long-term debt 4,000 6,000 4,007
Repayments of long-term debt and other financing obligations (43) (132) (2,224)
Cash dividends - common stock (7,928) (7,474) (6,844)
Distributions to noncontrolling interests (47) (99) (41)
Net purchases of treasury shares (4,412) (4,494) (4,142)
Net Cash Used for Financing Activities (4,999) (3,821) (8,980)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (43) (266) 39
Net Change in Cash and Cash Equivalents (3,460) (4,694) 5,075
Cash and Cash Equivalents at January 1 16,245 20,939 15,864
Cash and Cash Equivalents at December 31 $ 12,785 $ 16,245 $ 20,939
See accompanying Notes to the Consolidated Financial Statements.
34 Chevron Corporation 2014 Annual Report