Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.25.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income $ 3,861 $ 3,208
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion expense 979 912
Share-based compensation expense 140 140
Amortization of discount and debt issuance costs 29 32
Reduction of right-of-use assets 465 500
Total gains on derivative instruments, net (1,629) (861)
Net cash provided by settlement of derivative instruments 286 0
Deferred taxes 1,227 93
Other, net 11 27
Changes in operating assets and liabilities:    
Trade and other receivables (587) 427
Inventory 42 50
Margin deposits 25 (85)
Other non-current assets (148) (55)
Accounts payable and accrued liabilities (672) (207)
Total deferred revenue (10) 24
Total operating lease liabilities (459) (489)
Other, net (76) 37
Net cash provided by operating activities 3,484 3,753
Cash flows from investing activities    
Property, plant and equipment, net of proceeds on commissioning sales of LNG of $94 million and zero, respectively (2,334) (1,669)
Other, net 71 (37)
Net cash used in investing activities (2,263) (1,706)
Cash flows from financing activities    
Proceeds from issuances of debt and borrowings 1,262 2,725
Redemptions and repayments of debt (1,617) (3,171)
Distributions to NCI (600) (648)
Contributions from redeemable NCI 108 6
Payments related to tax withholdings for share-based compensation (50) (45)
Repurchase of common stock, inclusive of excise taxes paid (1,687) (1,981)
Dividends to stockholders (332) (300)
Other, net (94) (79)
Net cash used in financing activities (3,010) (3,493)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents (3) (3)
Net decrease in cash, cash equivalents and restricted cash and cash equivalents (1,792) (1,449)
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 $ 1,398 $ 3,076