Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 603 $ 337
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 233 144
Share-based compensation expense 29 28
Non-cash interest expense 17 33
Amortization of debt issuance costs, premium and discount 32 18
Non-cash operating lease costs 96 79
Loss on modification or extinguishment of debt 1 0
Total gains on derivatives, net (459) (122)
Net cash provided by settlement of derivative instruments 91 16
Impairment expense and loss on disposal of assets 5 2
Impairment or loss on equity method investments 1 0
Deferred taxes 129 0
Changes in operating assets and liabilities:    
Accounts and other receivables 23 99
Inventory 74 44
Other current assets 13 (15)
Accounts payable and accrued liabilities (176) (146)
Deferred revenue (67) (31)
Operating lease liabilities (90) (85)
Finance lease liabilities 0 1
Other, net 19 10
Net cash provided by operating activities 574 412
Cash flows from investing activities    
Property, plant and equipment, net (556) (625)
Investment in equity method investment (90) (24)
Other (8) (2)
Net cash used in investing activities (654) (651)
Cash flows from financing activities    
Proceeds from issuances of debt 596 692
Repayments of debt (300) (441)
Debt issuance and other financing costs (33) 0
Distributions and dividends to non-controlling interest (154) (144)
Payments related to tax withholdings for share-based compensation (39) (12)
Repurchase of common stock (155) 0
Other 0 (1)
Net cash provided by (used in) financing activities (85) 94
Net decrease in cash, cash equivalents and restricted cash (165) (145)
Cash, cash equivalents and restricted cash—beginning of period 2,994 3,156
Cash, cash equivalents and restricted cash—end of period $ 2,829 $ 3,011