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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net income $ 593,519 $ 743,499 $ 379,195
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 406,335 391,585 354,620
Impairment charges 20,240 0 264,256
Noncash contribution of preferred stock, net of tax 12,600 0 0
Equity in net earnings from investments (159,278) (139,690) (125,300)
Distributions received from unconsolidated affiliates 167,372 144,673 122,003
Deferred income taxes 437,917 211,638 137,737
Share-based compensation expense 26,262 40,563 16,435
Pension and postretirement benefit expense, net of contributions 4,079 11,643 14,814
Allowance for equity funds used during construction (107) (209) (2,179)
Gain on sale of assets (924) (9,635) (5,629)
Changes in assets and liabilities:      
Accounts receivable (330,521) (285,806) 157,051
Natural gas and natural gas liquids in storage (202,259) (11,950) 6,050
Accounts payable 261,305 287,632 (205,143)
Commodity imbalances, net 43,699 45,971 (4,083)
Settlement of exit activities liabilities (9,707) (19,906) (38,536)
Accrued interest 22,795 (16,529) 24,166
Risk-management assets and liabilities 37,617 (78,136) (32,370)
Other assets and liabilities, net (15,532) 37,998 (40,259)
Cash provided by operating activities 1,315,412 1,353,341 1,022,828
Investing activities      
Capital expenditures (less allowance for equity funds used during construction) (512,393) (624,634) (1,188,312)
Contributions to unconsolidated affiliates (87,861) (68,275) (27,540)
Distributions received from unconsolidated affiliates in excess of cumulative earnings 28,742 52,044 33,915
Proceeds from sale of assets 3,879 25,420 3,825
Other 0 0 (12,607)
Cash used in investing activities (567,633) (615,445) (1,190,719)
Financing activities      
Dividends paid (829,414) (517,601) (509,197)
Distributions to noncontrolling interests (276,260) (549,419) (535,825)
Borrowing (repayment) of short-term borrowings, net (495,604) 563,937 (508,956)
Issuance of long-term debt, net of discounts 1,190,496 1,000,000 1,291,506
Debt financing costs (11,425) (2,770) (17,515)
Repayment of long-term debt (994,776) (1,108,040) (7,753)
Issuance of common stock 471,358 21,971 20,669
Issuance of common units, net of issuance costs 0 0 375,660
Other (13,836) 5,403 (15,848)
Cash provided (used in) by financing activities (959,461) (586,519) 92,741
Change in cash and cash equivalents (211,682) 151,377 (75,150)
Change in cash and cash equivalents included in discontinued operations 0 (121) (43)
Change in cash and cash equivalents from continuing operations (211,682) 151,256 (75,193)
Cash and cash equivalents at beginning of period 248,875 97,619 172,812
Cash and cash equivalents at end of period 37,193 248,875 97,619
Supplemental cash flow information:      
Cash paid for interest, net of amounts capitalized 432,210 461,208 367,835
Cash paid for income taxes $ 6,633 $ 361 $ 3,324