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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income (loss) $ 856.2 $ 383.3
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization in interest expense 4.3 5.3
Compensation on equity grants 27.3 29.9
Depreciation and amortization expense 479.0 428.0
(Gain) loss on sale or disposition of assets (1.6) (0.2)
Write-downs of assets 1.0 4.7
Accretion of asset retirement obligations 2.2 2.0
Deferred income tax expense (benefit) 105.8 20.3
Equity (earnings) loss of unconsolidated affiliates (7.0) (24.6)
Distributions of earnings received from unconsolidated affiliates 7.3 42.2
Risk management activities 182.7 68.2
(Gain) loss from financing activities 49.6 16.6
(Gain) loss from sale of equity method investment (435.9)  
Changes in operating assets and liabilities, net of acquisitions:    
Receivables and other assets (250.9) 31.1
Inventories (51.2) 126.2
Accounts payable, accrued liabilities and other liabilities 421.6 166.1
Interest payable (6.7) 4.5
Net cash provided by operating activities 1,383.7 1,303.6
Cash flows from investing activities    
Outlays for property, plant and equipment (419.5) (198.9)
Outlays for asset acquisition, net of cash acquired (203.7)  
Proceeds from sale of assets 2.3 0.7
Investments in unconsolidated affiliates (1.5) (0.4)
Proceeds from sale of equity method investment 857.0  
Return of capital from unconsolidated affiliates 13.8 11.7
Other, net   1.0
Net cash provided by (used in) investing activities 248.4 (185.9)
Debt obligations:    
Proceeds from borrowings under credit facilities 3,425.0 480.0
Repayments of credit facilities (2,875.0) (1,145.0)
Proceeds from borrowings under accounts receivable securitization facility 380.0 530.0
Repayments of accounts receivable securitization facility (130.0) (520.0)
Proceeds from issuance of senior notes 1,493.6 1,000.0
Redemption of senior notes (1,473.2) (1,132.0)
Principal payments of finance leases (6.7) (6.2)
Costs incurred in connection with financing arrangements (27.0) (9.6)
Repurchase of shares (146.3) (8.6)
Contributions from noncontrolling interests 9.0 4.1
Distributions to noncontrolling interests (176.7) (251.5)
Repurchase of noncontrolling interests (926.3)  
Repurchase of Series A Preferred Stock (965.2)  
Dividends paid to common and Series A Preferred shareholders (217.8) (92.7)
Net cash provided by (used in) financing activities (1,636.6) (1,151.5)
Net change in cash and cash equivalents (4.5) (33.8)
Cash and cash equivalents, beginning of period 158.5 242.8
Cash and cash equivalents, end of period $ 154.0 $ 209.0