MURPHY OIL CORP
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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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.
FY2024 · Filed Feb 27, 2025
MUR$34.72+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31 (Thousands of dollars) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating Activities | |||
| Net income including noncontrolling interest | $486,485 | $723,681 | $1,138,719 |
| Adjustments to reconcile net income to net cash provided by continuing operations activities | |||
| Depreciation, depletion and amortization | 865,753 | 861,602 | 776,817 |
| Unsuccessful exploration well costs and previously suspended exploration costs | 73,201 | 169,795 | 82,085 |
| Deferred income tax expense | 72,434 | 179,823 | 286,079 |
| Impairment of assets | 62,909 | — | — |
| Accretion of asset retirement obligations | 52,511 | 46,059 | 46,243 |
| Long-term non-cash compensation | 45,057 | 61,953 | 89,246 |
| Amortization of undeveloped leases | 9,587 | 10,925 | 13,300 |
| Loss from discontinued operations | 2,812 | 1,467 | 2,078 |
| Mark-to-market loss (gain) on derivative instruments | 1,707 | — | (214,788) |
| Contingent consideration payment | — | (139,574) | — |
| Mark-to-market loss on contingent consideration | — | 7,113 | 78,285 |
| Gain from sale of assets | — | — | (17,899) |
| Other operating activities, net | (18,349) | (74,728) | (34,193) |
| Net decrease (increase) in non-cash working capital | 74,883 | (99,361) | (65,728) |
| Net cash provided by continuing operations activities | 1,728,990 | 1,748,755 | 2,180,244 |
| Investing Activities | |||
| Property additions and dry hole costs | (908,164) | (1,066,015) | (985,461) |
| Acquisition of oil and natural gas properties | — | (35,578) | (128,538) |
| Proceeds from sales of property, plant and equipment | — | 102,913 | 4,528 |
| Net cash required by investing activities | (908,164) | (998,680) | (1,109,471) |
| Financing Activities | |||
| Retirement of debt | (650,112) | (498,175) | (647,707) |
| Early redemption of debt cost | (15,700) | — | (8,295) |
| Debt issuance | 600,000 | — | — |
| Debt issuance cost | (10,145) | — | — |
| Borrowings on revolving credit facility | 350,000 | 600,000 | 400,000 |
| Repayment of revolving credit facility | (350,000) | (600,000) | (400,000) |
| Issue costs of revolving credit facility | (14,718) | (20) | (14,353) |
| Repurchase of common stock | (301,350) | (150,022) | — |
| Cash dividends paid | (179,961) | (170,978) | (128,219) |
| Distributions to noncontrolling interest | (118,580) | (29,382) | (183,038) |
| Withholding tax on stock-based incentive awards | (25,310) | (14,276) | (17,631) |
| Finance lease obligation payments | (665) | (622) | (636) |
| Contingent consideration payment | — | (60,243) | (81,742) |
| Net cash required by financing activities | (716,541) | (923,718) | (1,081,621) |
| Net cash required by discontinued operations | — | — | (14,500) |
| Effect of exchange rate changes on cash and cash equivalents | 2,210 | (1,246) | (3,873) |
| Net increase (decrease) in cash and cash equivalents | 106,495 | (174,889) | (29,221) |
| Cash and cash equivalents at beginning of period | 317,074 | 491,963 | 521,184 |
| Cash and cash equivalents at end of period | $423,569 | $317,074 | $491,963 |
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