XML 20 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income (loss) $ 38.9 $ (110.5)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization in interest expense 2.7 3.1
Compensation on equity grants 13.2 10.8
Depreciation and amortization expense 198.1 191.1
Accretion of asset retirement obligations 0.9 1.3
Increase (decrease) in redemption value of mandatorily redeemable preferred interests (72.5) 2.5
Deferred income tax expense (benefit) 8.9 73.4
Equity (earnings) loss of unconsolidated affiliates (1.5) 12.6
Distributions of earnings received from unconsolidated affiliates 4.2 2.7
Risk management activities 30.1 8.5
(Gain) loss on sale or disposition of assets [1] (0.1) 16.1
(Gain) loss from financing activities   5.8
Change in contingent considerations included in Other expense (income) 56.1 3.3
Changes in operating assets and liabilities, net of business acquisitions:    
Receivables and other assets 104.5 241.2
Inventories 110.2 53.7
Accounts payable and other liabilities (139.3) (196.9)
Net cash provided by operating activities 354.4 318.7
Cash flows from investing activities    
Outlays for property, plant and equipment (595.9) (144.2)
Outlays for business acquisition, net of cash acquired   (480.8)
Investments in unconsolidated affiliates (88.0) (0.5)
Return of capital from unconsolidated affiliates 1.5  
Other, net 5.1  
Net cash used in investing activities (677.3) (625.5)
Debt obligations:    
Proceeds from borrowings under credit facilities 640.0 995.0
Repayments of credit facilities (280.0) (985.0)
Proceeds from borrowings under accounts receivable securitization facility   75.0
Repayments of accounts receivable securitization facility (50.0) (65.0)
Redemption of senior notes and term loan   (160.0)
Proceeds from issuance of common stock 58.1 664.8
Costs incurred in connection with financing arrangements (0.4) (7.7)
Repurchase of shares and units under compensation plans (0.4) (0.5)
Contributions from noncontrolling interests 280.1 8.9
Distributions to noncontrolling interests (16.5) (9.7)
Distributions to Partnership unitholders (2.8) (2.8)
Dividends paid to common and Series A preferred shareholders (222.6) (199.7)
Net cash provided by financing activities 405.5 313.3
Net change in cash and cash equivalents 82.6 6.5
Cash and cash equivalents, beginning of period 137.2 73.5
Cash and cash equivalents, end of period $ 219.8 $ 80.0
[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.