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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income (loss) $ 422.1 $ (1,325.0) $ 41.2
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Amortization in interest expense 10.3 11.1 10.3
Compensation on equity grants 59.2 66.2 60.3
Depreciation and amortization expense 870.6 865.1 971.6
Impairment of long-lived assets 452.3 2,442.8 225.3
(Gain) loss on sale or disposition of business and assets 2.0 58.4 71.1
Write-downs of assets [1] 10.3 55.6 17.9
Accretion of asset retirement obligations 4.0 3.6 4.7
Increase (decrease) in redemption value of mandatorily redeemable preferred interests 13.6    
Deferred income tax expense (benefit) 12.1 (232.7) (87.9)
Equity (earnings) loss of unconsolidated affiliates 23.9 (72.6) (39.0)
Distributions of earnings received from unconsolidated affiliates 84.0 86.8 49.6
Risk management activities 116.0 (228.2) 112.8
(Gain) loss from financing activities 16.6 (45.6) 1.4
(Gain) loss from sale of equity-method investment     (69.3)
Change in contingent considerations 0.1 (0.3) 8.7
Changes in operating assets and liabilities:      
Receivables and other assets (392.4) (25.6) (24.7)
Inventories 40.6 (27.7) (45.0)
Accounts payable, accrued liabilities and other liabilities 551.7 105.7 35.0
Interest payable 5.9 6.9 45.8
Net cash provided by operating activities 2,302.9 1,744.5 1,389.8
Cash flows from investing activities      
Outlays for property, plant and equipment (505.1) (951.6) (2,877.8)
Proceeds from sale of business and assets 12.2 198.7 14.8
Investments in unconsolidated affiliates (0.6) (2.7) (266.8)
Proceeds from sale of equity-method investment     70.3
Return of capital from unconsolidated affiliates 20.2 13.2 3.5
Other, net 0.1 4.3 (15.9)
Net cash used in investing activities (473.2) (738.1) (3,071.9)
Debt obligations:      
Proceeds from borrowings under credit facilities 620.0 2,195.0 3,100.0
Repayments of credit facilities (1,455.0) (1,795.0) (3,800.0)
Proceeds from borrowings under accounts receivable securitization facility 630.0 576.4 944.2
Repayments of accounts receivable securitization facility (830.0) (596.4) (854.2)
Proceeds from issuance of senior notes 1,000.0 1,000.0 2,500.0
Redemption of senior notes (1,132.0) (1,390.6) (749.4)
Principal payments of finance leases (12.5) (12.4) (11.5)
Costs incurred in connection with financing arrangements (9.6) (9.9) (35.5)
Payment of contingent consideration     (317.1)
Repurchase of shares and units (53.2) (97.4) (13.9)
Sale of ownership interests in subsidiaries     1,619.7
Contributions from noncontrolling interests 15.8 41.5 555.3
Redemption of Preferred Units   (125.0)  
Distributions to noncontrolling interests (500.0) (439.2) (191.7)
Partial repurchase of Series A Preferred Stock   (45.8)  
Distributions to Partnership unitholders   (11.7) (11.3)
Dividends paid to common and Series A Preferred shareholders (187.5) (384.2) (953.5)
Net cash provided by (used in) financing activities (1,914.0) (1,094.7) 1,781.1
Net change in cash and cash equivalents (84.3) (88.3) 99.0
Cash and cash equivalents, beginning of period 242.8 331.1 232.1
Cash and cash equivalents, end of period $ 158.5 $ 242.8 $ 331.1
[1] Related to the write-down of certain assets to their recoverable amounts.