Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 132 $ 440
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 547 494
Share-based compensation expense 79 63
Non-cash interest expense 5 14
Amortization of debt issuance costs, premium and discount 29 40
Reduction of right-of-use assets 280 172
Loss on modification or extinguishment of debt 46 59
Losses on derivative instruments, net 4,530 748
Net cash used for settlement of derivative instruments (487) (111)
Income on equity method investments (9) (8)
Deferred taxes (32) (7)
Repayment of paid-in-kind interest related to repurchase of convertible notes (13) (190)
Other 10 (1)
Changes in operating assets and liabilities:    
Trade and other receivables, net of current expected credit losses (445) 33
Inventory (44) (66)
Margin deposits 596 (125)
Other current assets 40 (38)
Accounts payable and accrued liabilities 278 88
Deferred revenue 9 (33)
Total operating lease liabilities (286) (173)
Other, net (93) (26)
Net cash provided by operating activities 5,172 1,373
Cash flows from investing activities    
Property, plant and equipment (1,023) (440)
Proceeds from sale of fixed assets 0 68
Investment in equity method investment (10) 0
Other 0 (11)
Net cash used in investing activities (1,033) (383)
Cash flows from financing activities    
Proceeds from issuances of debt 1,015 2,184
Redemptions and repayments of debt (2,715) (2,603)
Debt issuance and other financing costs (43) (20)
Debt modification or extinguishment costs (30) (41)
Distributions to non-controlling interest (427) (322)
Payments related to tax withholdings for share-based compensation (55) (43)
Repurchase of common stock (565) 0
Dividends to shareholders (170) 0
Other 0 8
Net cash used in financing activities (2,990) (837)
Net increase in cash, cash equivalents and restricted cash and cash equivalents 1,149 153
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 $ 2,966 $ 2,230