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STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 1,152,367 $ (620,359)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Deferred income tax expense (benefit) 353,912 (164,677)
Depreciation and depletion 783,369 851,241
Impairment of long-lived assets and loss/gain on sale/exchange of long-lived assets 32,174 259,794
(Income) loss from investments (5,856) 17,208
(Gain) loss on debt extinguishment (1,144) 111,271
Share-based compensation expense 23,333 21,558
Distribution of earnings from equity method investments 16,616 13,640
Amortization, accretion and other 7,941 17,616
(Gain) loss on derivatives (989,238) 3,922,732
Net cash settlements received (paid) on derivatives 369,247 (2,639,271)
Net premiums (paid) received on derivative instruments (164,843) 14,073
Changes in other assets and liabilities:    
Accounts receivable 1,128,033 (626,620)
Accounts payable (532,223) 360,208
Other current assets 84,082 (190,358)
Other items, net (157,889) (96,416)
Net cash provided by operating activities 2,099,881 1,251,640
Cash flows from investing activities:    
Capital expenditures (981,795) (684,972)
Proceeds from sale of investment shares 0 189,249
Other investing activities (2,036) (11,962)
Net cash used in investing activities (983,831) (507,685)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 0 6,237,000
Repayment of credit facility borrowings 0 (6,137,000)
Debt issuance costs (3,557) (9,154)
Repayment and retirement of debt (1,012,877) (576,640)
Discounts received (premiums paid) on debt extinguishment 6,402 (15,128)
Dividends paid (108,318) (93,272)
Repurchase and retirement of common stock (201,029) (216,491)
Distribution to noncontrolling interest, net of contributions (2,043) (2,894)
Other financing activities (37,780) (594)
Net cash used in financing activities (1,359,202) (814,173)
Net change in cash and cash equivalents (243,152) (70,218)
Cash and cash equivalents at beginning of period 1,458,644 113,963
Cash and cash equivalents at end of period $ 1,215,492 $ 43,745