MURPHY OIL CORP
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 23, 2024
MUR$34.72+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31 (Thousands of dollars) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Operating Activities | |||
| Net income including noncontrolling interest | $723,681 | $1,138,719 | $47,528 |
| Adjustments to reconcile net income to net cash provided by continuing operations activities | |||
| Depreciation, depletion and amortization | 861,602 | 776,817 | 795,105 |
| Deferred income tax expense (benefit) | 179,823 | 286,079 | (4,146) |
| Unsuccessful exploration well costs and previously suspended exploration costs | 169,795 | 82,085 | 17,339 |
| Contingent consideration payment | (139,574) | – | – |
| Long-term non-cash compensation | 61,953 | 89,246 | 63,382 |
| Accretion of asset retirement obligations | 46,059 | 46,243 | 46,613 |
| Amortization of undeveloped leases | 10,925 | 13,300 | 18,925 |
| Mark to market loss on contingent consideration | 7,113 | 78,285 | 63,147 |
| Mark to market (gain) loss on derivative instruments | – | (214,788) | 112,113 |
| Loss from discontinued operations | 1,467 | 2,078 | 1,225 |
| Gain from sale of assets | (12) | (17,899) | – |
| Impairment of assets | – | – | 196,296 |
| Other operating activities, net | (74,716) | (34,193) | (53,821) |
| Net (increase) decrease in noncash working capital | (99,361) | (65,728) | 118,457 |
| Net cash provided by continuing operations activities | 1,748,755 | 2,180,244 | 1,422,163 |
| Investing Activities | |||
| Property additions and dry hole costs 1 | (1,066,015) | (985,461) | (650,235) |
| Acquisition of oil and natural gas properties 1 | (35,578) | (128,538) | (20,244) |
| Proceeds from sales of property, plant and equipment | 102,913 | 4,528 | 270,503 |
| Property additions for King's Quay FPS | – | – | (17,734) |
| Net cash required by investing activities | (998,680) | (1,109,471) | (417,710) |
| Financing Activities | |||
| Borrowings on revolving credit facility | 600,000 | 400,000 | 165,000 |
| Repayment of revolving credit facility | (600,000) | (400,000) | (365,000) |
| Retirement of debt | (498,175) | (647,707) | (876,358) |
| Early redemption of debt cost | – | (8,295) | (39,335) |
| Repurchase of common stock | (150,022) | – | – |
| Contingent consideration paid | (60,243) | (81,742) | – |
| Cash dividends paid | (170,978) | (128,219) | (77,204) |
| Distributions to noncontrolling interest | (29,382) | (183,038) | (137,517) |
| Withholding tax on stock-based incentive awards | (14,276) | (17,631) | (5,209) |
| Finance lease obligation payments | (622) | (636) | (803) |
| Debt issuance, net of cost | – | – | 541,913 |
| Issue costs of debt facility | (20) | (14,353) | – |
| Net cash required by financing activities | (923,718) | (1,081,621) | (794,513) |
| Net cash required by discontinued operations | – | (14,500) | – |
| Effect of exchange rate changes on cash and cash equivalents | (1,246) | (3,873) | 638 |
| Net (decrease) increase in cash and cash equivalents | (174,889) | (29,221) | 210,578 |
| Cash and cash equivalents at beginning of period | 491,963 | 521,184 | 310,606 |
| Cash and cash equivalents at end of period | $317,074 | $491,963 | $521,184 |
1 Certain prior-period amounts have been reclassified to conform to the current period presentation.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.