2011 and 2010, respectively. Cash provided by investing activities included proceeds and deposits related to asset sales of $2.7 billion in 2012, $3.5 billion in 2011, and $2.0 billion in 2010.

     Restricted cash of $1.5 billion and $1.2 billion associated with tax payments, upstream abandonment activities, funds held in escrow for an asset acquisition and capital investment projects at December 31, 2012 and 2011, respectively, was invested in short-term marketable securities and recorded as “Deferred charges and other assets” on the Consolidated Balance Sheet.

     Dividends Dividends paid to common stockholders were $6.8 billion in 2012, $6.1 billion in 2011 and $5.7 billion in 2010. In April 2012, the company increased its quarterly dividend by 11.1 percent to 90 cents per common share.

Debt and capital lease obligations Total debt and capital lease obligations were $12.2 billion at December 31, 2012, up from $10.2 billion at year-end 2011.

     The $2.0 billion increase in total debt and capital lease obligations during 2012 included the net effect of a $4 billion bond issuance and the early redemption of a $2 billion bond due in March 2014. The company’s debt and capital lease obligations due within one year, consisting primarily of commercial paper, redeemable long-term obligations and the current portion of long-term debt, totaled $6.0 billion at December 31, 2012, compared with $5.9 billion at year-end 2011. Of these amounts, $5.9 billion and $5.6 billion were reclassified to long-term at the end of each period, respectively. At year-end 2012, settlement of these obligations was not expected to require the use of working capital in 2013, as the company had the intent and the ability, as evidenced by committed credit facilities, to refinance them on a long-term basis.

     At December 31, 2012, the company had $6.0 billion in committed credit facilities with various major banks, expiring in December 2016, which enable the refinancing of short-term obligations on a long-term basis. These facilities support commercial paper borrowing and can also be used for general corporate purposes. The company’s practice has been to continually replace expiring commitments with new commitments on substantially the same terms, maintaining levels management believes appropriate. Any borrowings under the facilities would be unsecured indebtedness at interest rates based on the London Interbank Offered Rate or an average of base lending rates published by specified banks and on terms reflecting the company’s strong credit rating. No borrowings were outstanding under these facilities at December 31, 2012. In addition, in November 2012, the company filed with the Securities and Exchange Commission a new registration statement that expires in November 2015. This registration statement is for an unspecified amount of nonconvertible debt securities issued or guaranteed by the company.

     The major debt rating agencies routinely evaluate the company’s debt, and the company’s cost of borrowing can increase or decrease depending on these debt ratings. The company has outstanding public bonds issued by Chevron Corporation, Chevron Corporation Profit