Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 1,232 $ 1,200 $ 563
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 794 449 356
Share-based compensation expense 131 113 91
Non-cash interest expense 143 74 75
Amortization of debt issuance costs, deferred commitment fees, premium and discount 103 69 69
Non-cash operating lease costs 350 0 0
Loss on modification or extinguishment of debt 55 27 100
Total losses (gains) on derivatives, net (400) 51 62
Net cash provided by (used for) settlement of derivative instruments 138 17 (106)
Impairment expense and loss on disposal of assets 23 8 19
Impairment or loss on equity method investments 88 0 0
Deferred taxes (521) (5) (3)
Other 0 (5) (1)
Changes in operating assets and liabilities:      
Accounts and other receivables 1 (133) (141)
Inventory 11 (73) (73)
Other current assets (18) (15) (34)
Accounts payable and accrued liabilities 52 188 225
Deferred revenue 22 26 34
Operating lease liabilities (366) 0 0
Finance lease liabilities 1 0 0
Other, net (6) (1) (5)
Net cash provided by operating activities 1,833 1,990 1,231
Cash flows from investing activities      
Property, plant and equipment, net (3,056) (3,643) (3,357)
Investment in equity method investment (105) (25) (41)
Other (2) 14 17
Net cash used in investing activities (3,163) (3,654) (3,381)
Cash flows from financing activities      
Proceeds from issuances of debt 6,434 4,285 6,854
Repayments of debt (4,346) (1,391) (3,632)
Debt issuance and deferred financing costs (51) (66) (89)
Debt extinguishment costs (15) (17) 0
Distributions and dividends to non-controlling interest (590) (576) (185)
Payments related to tax withholdings for share-based compensation (19) (20) (12)
Repurchase of common stock (249) 0 0
Other 4 (8) 0
Net cash provided by financing activities 1,168 2,207 2,936
Net increase (decrease) in cash, cash equivalents and restricted cash (162) 543 786
Cash, cash equivalents and restricted cash—beginning of period 3,156 2,613 1,827
Cash, cash equivalents and restricted cash—end of period $ 2,994 $ 3,156 $ 2,613