Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income (loss) $ 2,635 $ (1,565) $ 501
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Unrealized foreign currency exchange gain, net (5) 0 0
Depreciation and amortization expense 1,119 1,011 932
Share-based compensation expense 205 140 110
Non-cash interest expense 26 19 51
Amortization of debt discount and debt issuance costs 57 72 114
Reduction of right-of-use assets 607 393 291
Loss on modification or extinguishment of debt 66 116 217
Total losses on derivative instruments, net 6,531 5,989 211
Net cash used for settlement of derivative instruments (904) (1,579) 74
Loss on equity method investments 55 24 126
Deferred taxes 440 (715) 40
Repayment of paid-in-kind interest related to repurchase of convertible notes (13) (190) (911)
Other, net 11 9 8
Changes in operating assets and liabilities:      
Trade and other receivables, net of current expected credit losses (502) (799) (154)
Inventory (123) (409) 21
Margin deposits 631 (741) (13)
Other current assets 67 (101) (14)
Accounts payable and accrued liabilities 250 1,144 54
Total deferred revenue 124 55 (23)
Total operating lease liabilities (622) (418) (277)
Other, net (132) 14 (93)
Net cash provided by operating activities 10,523 2,469 1,265
Cash flows from investing activities      
Property, plant, and equipment (1,830) (966) (1,839)
Proceeds from sale of fixed assets 1 68 0
Investment in equity method investment (15) 0 (100)
Other, net 0 (14) (8)
Net cash used in investing activities (1,844) (912) (1,947)
Cash flows from financing activities      
Proceeds from issuances of debt 1,575 5,911 7,823
Redemptions and repayments of debt (6,771) (6,810) (6,940)
Debt issuance and other financing costs (51) (53) (125)
Debt modification or extinguishment costs (28) (82) (172)
Distributions to non-controlling interest (947) (649) (626)
Payments related to tax withholdings for share-based compensation (63) (48) (43)
Repurchase of common stock (1,373) (9) (155)
Dividends to stockholders (349) (85) 0
Payments of finance lease liabilities (7) 0 0
Other, net 0 8 3
Net cash used in financing activities (8,014) (1,817) (235)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations 5 0 0
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 670 (260) (917)
Cash, cash equivalents and restricted cash and cash equivalents—beginning of period 1,817 2,077 2,994
Cash, cash equivalents and restricted cash and cash equivalents—end of period $ 2,487 $ 1,817 $ 2,077