MURPHY OIL CORP
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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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.
FY2025 · Filed Feb 25, 2026
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) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Operating Activities | |||
| Net income including noncontrolling interest | $138,799 | $486,485 | $723,681 |
| Adjustments to reconcile net income to net cash provided by continuing operations activities | |||
| Depreciation, depletion and amortization | 977,753 | 865,753 | 861,602 |
| Unsuccessful exploration well costs and previously suspended exploration costs | 30,095 | 73,201 | 169,795 |
| Deferred income tax expense | 34,673 | 72,434 | 179,823 |
| Impairment of assets | 115,002 | 62,909 | — |
| Accretion of asset retirement obligations | 57,730 | 52,511 | 46,059 |
| Long-term non-cash compensation | 45,128 | 45,057 | 61,953 |
| Amortization of undeveloped leases | 11,634 | 9,587 | 10,925 |
| (Income) loss from discontinued operations | (485) | 2,812 | 1,467 |
| Unrealized (gain) loss on derivative instruments | (1,706) | 1,707 | — |
| Contingent consideration payment | — | — | (139,574) |
| Unrealized loss on contingent consideration | — | — | 7,113 |
| Other operating activities, net | (86,763) | (18,349) | (74,728) |
| Net decrease (increase) in non-cash working capital | (74,052) | 74,883 | (99,361) |
| Net cash provided by continuing operations activities | 1,247,808 | 1,728,990 | 1,748,755 |
| Investing Activities | |||
| Property additions and dry hole costs1 | (1,020,611) | (900,108) | (1,066,015) |
| Acquisition of oil and natural gas properties1 | (29,034) | (8,056) | (35,578) |
| Proceeds from sales of property, plant and equipment | 20,719 | — | 102,913 |
| Net cash required by investing activities | (1,028,926) | (908,164) | (998,680) |
| Financing Activities | |||
| Retirement of debt | — | (650,112) | (498,175) |
| Early redemption of debt cost | — | (15,700) | — |
| Debt issuance | — | 600,000 | — |
| Debt issuance cost | — | (10,145) | — |
| Borrowings on revolving credit facility | 550,000 | 350,000 | 600,000 |
| Repayment of revolving credit facility | (450,000) | (350,000) | (600,000) |
| Issue costs of revolving credit facility | (418) | (14,718) | (20) |
| Repurchase of common stock | (102,620) | (301,350) | (150,022) |
| Cash dividends paid | (186,205) | (179,961) | (170,978) |
| Distributions to noncontrolling interest | (63,841) | (118,580) | (29,382) |
| Withholding tax on stock-based incentive awards | (9,743) | (25,310) | (14,276) |
| Finance lease obligation payments | (1,238) | (665) | (622) |
| Contingent consideration payment | — | — | (60,243) |
| Net cash required by financing activities | (264,065) | (716,541) | (923,718) |
| Effect of exchange rate changes on cash and cash equivalents | (1,190) | 2,210 | (1,246) |
| Net increase (decrease) in cash and cash equivalents | (46,373) | 106,495 | (174,889) |
| Cash and cash equivalents at beginning of period | 423,569 | 317,074 | 491,963 |
| Cash and cash equivalents at end of period | $377,196 | $423,569 | $317,074 |
1 Prior period amounts have been reclassified to conform to current period presentation.
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