Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net income $ 1,716 $ 3,861
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion expense 1,146 979
Share-based compensation expense 190 140
Reduction of right-of-use assets 419 465
Total losses (gains) on derivative instruments, net 3,015 (1,629)
Net cash provided by (used for) settlement of derivative instruments (659) 286
Deferred taxes (4) 1,227
Other, net 61 40
Changes in operating assets and liabilities:    
Trade and other receivables (50) (587)
Inventory (219) 42
Accounts payable and accrued liabilities 279 (672)
Total operating lease liabilities (428) (459)
Other non-current liabilities (216) 0
Other, net (126) (209)
Net cash provided by operating activities 5,124 3,484
Cash flows from investing activities    
Property, plant and equipment, net of proceeds from commissioning sales of LNG of $115 million and $94 million, respectively (2,648) (2,334)
Other, net (37) 71
Net cash used in investing activities (2,685) (2,263)
Cash flows from financing activities    
Proceeds from issuances of debt and borrowings 4,446 1,262
Redemptions and repayments of debt and borrowings (3,317) (1,617)
Distributions to NCI (594) (600)
Contributions from redeemable NCI 0 108
Redemption of redeemable NCI (136) 0
Payments related to tax withholdings for share-based compensation (40) (50)
Repurchase of common stock, inclusive of excise taxes paid (1,819) (1,687)
Dividends to stockholders (347) (332)
Other, net (160) (94)
Net cash used in financing activities (1,967) (3,010)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents 0 (3)
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 472 (1,792)
Cash, cash equivalents and restricted cash and cash equivalents—beginning of period 1,584 3,190
Cash, cash equivalents and restricted cash and cash equivalents—end of period $ 2,056 $ 1,398