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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income (loss) $ (39.9) $ (15.2)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization in interest expense 5.9 8.2
Compensation on equity grants 21.5 15.2
Depreciation and amortization expense 394.6 379.6
Goodwill impairment 0.0 24.0
Accretion of asset retirement obligations 2.2 2.3
Increase (decrease) in redemption value of mandatorily redeemable preferred interests 6.9 (14.6)
Deferred income tax expense (benefit) (34.5) 4.8
Equity (earnings) loss of unconsolidated affiliates 16.8 9.2
Distributions of earnings received from unconsolidated affiliates 4.0  
Risk management activities 10.0 3.2
(Gain) loss on sale or disposition of assets [1] 16.2 0.9
(Gain) loss from financing activities 16.5 (21.4)
Change in contingent considerations included in Other expense 1.2  
Changes in operating assets and liabilities, net of business acquisitions:    
Receivables and other assets 299.0 19.6
Inventories (68.6) 12.4
Accounts payable and other liabilities (187.3) 29.3
Net cash provided by operating activities 464.5 457.5
Cash flows from investing activities    
Outlays for property, plant and equipment (527.6) (307.7)
Outlays for business acquisition, net of cash acquired (570.8)  
Investments in unconsolidated affiliates (0.6)  
Return of capital from unconsolidated affiliates 3.2 3.9
Other, net (12.8) (1.4)
Net cash used in investing activities (1,108.6) (305.2)
Debt obligations:    
Proceeds from borrowings under credit facilities 1,926.0 1,067.0
Repayments of credit facilities (1,916.0) (1,457.0)
Proceeds from borrowings under accounts receivable securitization facility 218.5 121.4
Repayments of accounts receivable securitization facility (243.5) (115.7)
Open market purchases of senior notes   (534.3)
Redemption of senior notes and term loan (447.6)  
Proceeds from issuance of common stock 1,573.4 181.2
Proceeds from issuance of preferred stock and warrants   994.1
Costs incurred in connection with financing arrangements (14.9) (44.3)
Repurchase of shares and units under compensation plans (0.6) (0.4)
Purchase of noncontrolling interests in subsidiary (12.5)  
Contributions from noncontrolling interests 16.5 19.1
Distributions to noncontrolling interests (21.4) (6.3)
Distributions to Partnership unitholders (5.6) (144.7)
Dividends paid to common and preferred shareholders (403.0) (201.4)
Payments of distribution equivalent rights   (0.3)
Net cash provided by (used in) financing activities 669.3 (121.6)
Net change in cash and cash equivalents 25.2 30.7
Cash and cash equivalents, beginning of period 73.5 140.2
Cash and cash equivalents, end of period $ 98.7 $ 170.9
[1] Comprised primarily of a $16.1 million loss in the first quarter of 2017 due to the reduction in the carrying value of our ownership interest in VGS in connection with the April 4, 2017 sale.