Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net income $ 1,007 $ 339
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 466 348
Share-based compensation expense 57 61
Non-cash interest expense 34 93
Amortization of debt issuance costs, premium and discount 70 44
Non-cash operating lease costs 166 158
Loss on modification or extinguishment of debt 44 0
Total gains on derivatives, net (361) (147)
Net cash provided by settlement of derivative instruments 117 62
Impairment expense and loss on disposal of assets 5 6
Impairment or loss on equity method investments 1 2
Deferred taxes 192 0
Changes in operating assets and liabilities:    
Accounts and other receivables, net (155) 59
Inventory 104 33
Other current assets (37) (46)
Accounts payable and accrued liabilities (369) (80)
Deferred revenue (138) (2)
Operating lease liabilities (145) (163)
Other, net (30) (7)
Net cash provided by operating activities 1,028 760
Cash flows from investing activities    
Property, plant and equipment, net (983) (1,508)
Investment in equity method investment (100) (34)
Other (7) 0
Net cash used in investing activities (1,090) (1,542)
Cash flows from financing activities    
Proceeds from issuances of debt 2,597 2,021
Repayments of debt (2,380) (630)
Debt issuance and other financing costs (59) (20)
Debt extinguishment costs (40) 0
Distributions and dividends to non-controlling interest (310) (290)
Payments related to tax withholdings for share-based compensation (41) (14)
Repurchase of common stock (155) (3)
Other 0 2
Net cash provided by (used in) financing activities (388) 1,066
Net increase (decrease) in cash, cash equivalents and restricted cash (450) 284
Cash, cash equivalents and restricted cash—beginning of period 2,994 3,156
Cash, cash equivalents and restricted cash—end of period $ 2,544 $ 3,440