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STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 112,302 $ 1,152,367
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income tax (benefit) expense (22,583) 353,912
Depreciation and depletion 952,732 783,369
Gain/loss on sale/exchange of long-lived assets and impairments (273,114) 32,174
Income from investments (2,432) (5,856)
Loss (gain) on debt extinguishment 5,286 (1,144)
Share-based compensation expense 22,650 23,333
Distribution of earnings from equity method investment 8,975 16,616
Amortization, accretion and other 8,317 7,941
Gain on derivatives (167,844) (989,238)
Net cash settlements received on derivatives 749,185 369,247
Net premiums paid on derivatives (37,893) (164,843)
Changes in other assets and liabilities:    
Accounts receivable 238,579 1,128,033
Accounts payable (47,115) (532,223)
Other current assets (59,419) 84,082
Other items, net (9,918) (157,889)
Net cash provided by operating activities 1,477,708 2,099,881
Cash flows from investing activities:    
Capital expenditures (1,092,633) (981,795)
Cash paid for acquisitions (237,755) 0
Proceeds from sale of assets 453,864 0
Other investing activities (2,688) (2,036)
Net cash used in investing activities (879,212) (983,831)
Cash flows from financing activities:    
Proceeds from revolving credit facility borrowings 314,000 0
Repayment of revolving credit facility borrowings (267,000) 0
Proceeds from issuance of debt 750,000 0
Proceeds from net settlement of capped call transactions 93,290 0
Debt issuance costs (8,511) (3,557)
Repayment and retirement of debt (1,355,183) (1,012,877)
(Premiums paid) discounts received on debt extinguishment (1,178) 6,402
Dividends paid (138,963) (108,318)
Repurchase and retirement of common stock 0 (201,029)
Net distribution to noncontrolling interest 0 (2,043)
Other financing activities (35,954) (37,780)
Net cash used in financing activities (649,499) (1,359,202)
Net change in cash and cash equivalents (51,003) (243,152)
Cash and cash equivalents at beginning of period 80,977 1,458,644
Cash and cash equivalents at end of period $ 29,974 $ 1,215,492