Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income (loss) $ (781) $ 571
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization expense 271 236
Share-based compensation expense 43 32
Non-cash interest expense 2 8
Amortization of debt issuance costs, premium and discount 15 20
Reduction of right-of-use assets 134 85
Loss on modification or extinguishment of debt 18 55
Total losses on derivative instruments, net 3,592 74
Net cash provided by (used for) settlement of derivative instruments (314) 5
Impairment expense and loss (income) on equity method investments (5) (7)
Deferred taxes (206) 87
Repayment of paid-in-kind interest related to repurchase of convertible notes (13) 0
Other 0 1
Changes in operating assets and liabilities:    
Trade and other receivables, net of current expected credit losses (16) (3)
Inventory 133 (16)
Margin deposits 309 (17)
Other current assets 99 16
Accounts payable and accrued liabilities (386) 52
Deferred revenue (24) (36)
Operating lease liabilities (134) (86)
Finance lease liabilities 1 0
Other, net (83) (11)
Net cash provided by operating activities 2,655 1,066
Cash flows from investing activities    
Property, plant and equipment (178) (190)
Other 0 (10)
Net cash used in investing activities (178) (200)
Cash flows from financing activities    
Proceeds from issuances of debt 575 1,800
Redemptions and repayments of debt (1,615) (2,088)
Debt issuance and other financing costs 0 (19)
Debt modification or extinguishment costs (13) (40)
Distributions to non-controlling interest (171) (160)
Payments related to tax withholdings for share-based compensation (53) (42)
Repurchase of common stock (25) 0
Cash dividends to shareholders (86) 0
Other 0 4
Net cash used in financing activities (1,388) (545)
Net increase in cash, cash equivalents and restricted cash and cash equivalents 1,089 321
Cash, cash equivalents and restricted cash and cash equivalents—beginning of period 1,817 2,077
Cash, cash equivalents and restricted cash and cash equivalents—end of period $ 2,906 $ 2,398