Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 2,565 $ 2,001
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion expense 641 606
Share-based compensation expense 105 92
Amortization of discount and debt issuance costs 19 19
Reduction of right-of-use assets 310 330
Total gains on derivative instruments, net (958) (393)
Net cash provided by settlement of derivative instruments 193 36
Deferred taxes 454 41
Other, net (1) 20
Changes in operating assets and liabilities:    
Trade and other receivables (29) 387
Inventory 19 56
Margin deposits (22) (88)
Other non-current assets (25) (44)
Accounts payable and accrued liabilities (789) (324)
Total deferred revenue (36) (41)
Total operating lease liabilities (307) (324)
Other, net (80) (12)
Net cash provided by operating activities 2,059 2,362
Cash flows from investing activities    
Property, plant and equipment, net of proceeds on commissioning sales of LNG of $52 million and zero, respectively (1,647) (1,153)
Proceeds from Sale of Equity Method Investments 80 0
Investments in equity method investments 0 (12)
Other (8) (20)
Net cash used in investing activities (1,575) (1,185)
Cash flows from financing activities    
Proceeds from issuances of debt and borrowings 265 2,725
Redemptions and repayments of debt (565) (3,021)
Distributions to non-controlling interests (400) (451)
Contributions from redeemable non-controlling interest 49 0
Payments related to tax withholdings for share-based compensation (46) (41)
Repurchase of common stock, inclusive of excise taxes paid (690) (1,699)
Dividends to stockholders (223) (202)
Other, net (43) (57)
Net cash used in financing activities (1,653) (2,746)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents (4) (2)
Net decrease in cash, cash equivalents and restricted cash and cash equivalents (1,173) (1,571)
Cash, cash equivalents and restricted cash and cash equivalents—beginning of period 3,190 4,525
Cash, cash equivalents and restricted cash and cash equivalents—end of period $ 2,017 $ 2,954