DEVON ENERGY CORPDE
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
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FY2024 · Filed Feb 19, 2025
DVN$43.41+2.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net earnings | $2,942 | $3,782 | $6,037 |
| Adjustments to reconcile net earnings to net cash from operating activities: | |||
| Depreciation, depletion and amortization | 3,255 | 2,554 | 2,223 |
| Leasehold impairments | 5 | 5 | 12 |
| Accretion (amortization) of liabilities | 8 | (16) | (31) |
| Total (gains) losses on commodity derivatives | (21) | (118) | 658 |
| Cash settlements on commodity derivatives | 197 | 47 | (1,356) |
| (Gains) losses on asset dispositions | 11 | (30) | (44) |
| Deferred income tax expense | 311 | 376 | 1,179 |
| Share-based compensation | 99 | 93 | 88 |
| Other | 10 | (5) | (10) |
| Changes in assets and liabilities, net | (217) | (144) | (226) |
| Net cash from operating activities | 6,600 | 6,544 | 8,530 |
| Cash flows from investing activities: | |||
| Capital expenditures | (3,645) | (3,883) | (2,542) |
| Acquisitions of property and equipment | (3,808) | (64) | (2,583) |
| Divestitures of property and equipment | 24 | 26 | 39 |
| Grayson Mill acquired cash | 147 | — | — |
| Distributions from investments | 68 | 32 | 39 |
| Contributions to investments and other | (118) | (53) | (76) |
| Net cash from investing activities | (7,332) | (3,942) | (5,123) |
| Cash flows from financing activities: | |||
| Borrowings of long-term debt, net of issuance costs | 3,219 | — | — |
| Repayments of long-term debt | (472) | (242) | — |
| Repurchases of common stock | (1,057) | (979) | (718) |
| Dividends paid on common stock | (937) | (1,858) | (3,379) |
| Contributions from noncontrolling interests | 52 | 37 | — |
| Distributions to noncontrolling interests | (51) | (45) | (30) |
| Shares exchanged for tax withholdings and other | (48) | (97) | (86) |
| Net cash from financing activities | 706 | (3,184) | (4,213) |
| Effect of exchange rate changes on cash | (3) | 3 | (11) |
| Net change in cash, cash equivalents and restricted cash | (29) | (579) | (817) |
| Cash, cash equivalents and restricted cash at beginning of period | 875 | 1,454 | 2,271 |
| Cash, cash equivalents and restricted cash at end of period | $846 | $875 | $1,454 |
| Reconciliation of cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents | $811 | $853 | $1,314 |
| Restricted cash | 35 | 22 | 140 |
| Total cash, cash equivalents and restricted cash | $846 | $875 | $1,454 |
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