Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income $ 501 $ 1,232 $ 1,200
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 932 794 449
Share-based compensation expense 110 131 113
Non-cash interest expense 51 143 74
Amortization of debt issuance costs, premium and discount 114 103 69
Non-cash operating lease costs 291 350 0
Loss on modification or extinguishment of debt 217 55 27
Total losses (gains) on derivatives, net 211 (400) 51
Net cash provided by settlement of derivative instruments 74 138 17
Impairment expense and loss on disposal of assets 6 23 8
Impairment or loss on equity method investments 126 88 0
Deferred taxes 40 (521) (5)
Repayment of paid-in-kind interest related to repurchase of convertible notes (911) 0 0
Other 2 0 (5)
Changes in operating assets and liabilities:      
Accounts and other receivables, net (154) 1 (133)
Inventory 21 11 (73)
Other current assets (27) (18) (15)
Accounts payable and accrued liabilities 54 52 188
Deferred revenue (23) 22 26
Operating lease liabilities (277) (366) 0
Finance lease liabilities 0 1 0
Other, net (93) (6) (1)
Net cash provided by operating activities 1,265 1,833 1,990
Cash flows from investing activities      
Property, plant and equipment, net (1,839) (3,056) (3,643)
Investment in equity method investment (100) (105) (25)
Other (8) (2) 14
Net cash used in investing activities (1,947) (3,163) (3,654)
Cash flows from financing activities      
Proceeds from issuances of debt 7,823 6,434 4,285
Repayments of debt (6,940) (4,346) (1,391)
Debt issuance and other financing costs (125) (51) (66)
Debt modification or extinguishment costs (172) (15) (17)
Distributions and dividends to non-controlling interest (626) (590) (576)
Payments related to tax withholdings for share-based compensation (43) (19) (20)
Repurchase of common stock (155) (249) 0
Other 3 4 (8)
Net cash provided by (used in) financing activities (235) 1,168 2,207
Net decrease in cash, cash equivalents and restricted cash (917) (162) 543
Cash, cash equivalents and restricted cash—beginning of period 2,994 3,156 2,613
Cash, cash equivalents and restricted cash—end of period $ 2,077 $ 2,994 $ 3,156