LyondellBasell Industries NV
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
LYB$60.60+1.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| Millions of dollars | 2023 | 2022 | 2021 |
| Cash flows from operating activities: | |||
| Net income | $2,121 | $3,889 | $5,617 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 1,534 | 1,267 | 1,393 |
| Impairments | 518 | 69 | 624 |
| Amortization of debt-related costs | 9 | 14 | 35 |
| Share-based compensation | 91 | 70 | 66 |
| Equity investments— | |||
| Equity loss (income) | 20 | (5) | (461) |
| Distributions of earnings, net of tax | 169 | 349 | 315 |
| Deferred income tax provision (benefit) | 43 | 369 | (198) |
| Changes in assets and liabilities that provided (used) cash: | |||
| Accounts receivable | 110 | 1,005 | (1,519) |
| Inventories | 18 | (91) | (742) |
| Accounts payable | 141 | (464) | 1,301 |
| Other, net | 168 | (353) | 1,264 |
| Net cash provided by operating activities | 4,942 | 6,119 | 7,695 |
| Cash flows from investing activities: | |||
| Expenditures for property, plant and equipment | (1,531) | (1,890) | (1,959) |
| Proceeds from sales and maturities of available-for-sale debt securities | — | — | 346 |
| Proceeds from equity securities | — | 8 | 335 |
| Proceeds from settlement of net investment hedges | 903 | 614 | 358 |
| Payments for settlement of net investment hedges | (820) | (501) | (355) |
| Other, net | (329) | (208) | (227) |
| Net cash used in investing activities | $(1,777) | $(1,977) | $(1,502) |
| Year Ended December 31, | |||
|---|---|---|---|
| Millions of dollars | 2023 | 2022 | 2021 |
| Cash flows from financing activities: | |||
| Repurchases of Company ordinary shares | $(211) | $(420) | $(463) |
| Dividends paid - common stock | (1,610) | (3,246) | (1,486) |
| Issuance of long-term debt | 500 | — | — |
| Payments of debt issuance costs | (5) | — | (3) |
| Repayments of long-term debt | (425) | — | (3,925) |
| Debt extinguishment costs | — | — | (150) |
| Net repayments of commercial paper | (200) | (4) | (296) |
| Net collateral received from interest rate derivatives | — | 238 | — |
| Proceeds from settlement of cash flow hedges | — | — | 855 |
| Payments for settlement of cash flow hedges | — | — | (904) |
| Other, net | 1 | 25 | (13) |
| Net cash used in financing activities | (1,950) | (3,407) | (6,385) |
| Effect of exchange rate changes on cash | 34 | (56) | (96) |
| Increase (decrease) in cash and cash equivalents and restricted cash | 1,249 | 679 | (288) |
| Cash and cash equivalents and restricted cash at beginning of period | 2,156 | 1,477 | 1,765 |
| Cash and cash equivalents and restricted cash at end of period | $3,405 | $2,156 | $1,477 |
| Supplemental Cash Flow Information: | |||
| Interest paid, net of capitalized interest | $487 | $297 | $414 |
| Net income taxes paid | 465 | 746 | 310 |
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