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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net (loss)/income $ (1,387) $ 2,035
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Amortization of deferred financing costs 44 29
Depreciation and amortization [1] 992 916
Goodwill and Intangible Asset Impairment 2,165 0
Deferred income taxes (1) 1
Retirement Expenditures 0 1
Loss/(gain) on disposal of assets 1 (3)
Loss/(income) from equity method investments(1) 1,012 [2],[3] (255)
Distributions from unconsolidated affiliates 350 379
Changes in:    
Current receivables 69 38
Inventories (8) (3)
Fair value of derivatives 1 (4)
Current accounts payable and accrued liabilities (27) (81)
Current assets/current liabilities - related parties 36 (148)
Increase (Decrease) in Other Operating Assets and Liabilities, Net (2) 6
Deferred revenue 85 58
All other, net 6 23
Net cash provided by operating activities 3,336 2,990
Investing activities:    
Additions to property, plant and equipment (982) (1,720)
Proceeds from Contributions from Affiliates 0 6
Disposal of assets 54 14
Investments in unconsolidated affiliates (244) (494)
Distributions from unconsolidated affiliates - return of capital 112 2
Payments for (Proceeds from) Other Investing Activities 0 (3)
Net cash used in investing activities (1,060) (2,189)
Financing activities:    
Long-term debt - borrowings 5,990 8,674
Long-term debt - repayments (5,372) (7,423)
Related party debt - borrowings 4,870 7,708
Related party debt - repayments (5,464) (7,583)
Distributions to noncontrolling interests (26) (20)
Distributions to unitholders and general partner (2,162) (1,731)
Proceeds from Contributions from Parent 34 52
Contributions from noncontrolling interests 0 94
All other, net (8) (12)
Net cash used in financing activities (2,263) (845)
Net increase/(decrease) in cash, cash equivalents and restricted cash 13 (44)
Cash, cash equivalents and restricted cash at beginning of period 15 85
Cash, cash equivalents and restricted cash at end of period 28 41
Equity Method Investment, Other than Temporary Impairment 1,264  
Payments of Debt Issuance Costs 23 20
Series A Preferred Stock [Member] | Preferred Partner [Member]    
Financing activities:    
Distributions to preferred unitholders (61) (61)
Series B Preferred Stock [Member] | Preferred Partner [Member]    
Financing activities:    
Distributions to preferred unitholders (41) (21)
Payments of Distributions on Preferred Units from Predecessor $ 0 $ 502
[1] Depreciation and amortization attributable to L&S was $164 million and $440 million for the three and nine months ended September 30, 2020, respectively, and $113 million and $373 million for the three and nine months ended September 30, 2019, respectively. Depreciation and amortization attributable to G&P was $182 million and $552 million for the three and nine months ended September 30, 2020, respectively, and $189 million and $543 million for the three and nine months ended September 30, 2019, respectively.
[2]
The 2020 period includes $1,264 million of impairment expense. See Note 4.
[3]
The nine months ended September 30, 2020 includes $1,264 million of impairment expense. See Note 4.