XML 30 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities:      
Net income (loss) $ 1,046 [1] $ (2,643) $ (4,556)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 504 436 1,092
Impairment of natural gas and oil properties 0 2,321 6,950
Amortization of debt issuance costs 9 14 53
Deferred income taxes (71) (22) (2,003)
(Gain) loss on derivatives, unsettled (451) 373 155
Stock-based compensation 24 29 26
Gain on sale of assets, net (6)   (283)
Restructuring charges   30  
Loss on early extinguishment of debt 70 51  
Other 13 8 34
Change in assets and liabilities:      
Accounts receivable (65) (30) 203
Accounts payable 48 (69) (78)
Taxes payable 4 (5) (28)
Interest payable (2)   9
Other assets and liabilities (26) 5 6
Net cash provided by operating activities 1,097 498 1,580
Cash Flows From Investing Activities:      
Capital investments (1,268) (593) (1,798)
Acquisitions     (579)
Proceeds from sale of property and equipment 10 430 729
Other 6 1 10
Net cash used in investing activities (1,252) (162) (1,638)
Cash Flows From Financing Activities:      
Payments on current portion of long-term debt (328) (1) (1)
Payments on long-term debt (1,139) (1,175) (500)
Payments on short-term debt     (4,500)
Payments on revolving credit facility   (3,268) (3,024)
Borrowings under revolving credit facility   3,152 2,840
Payments on commercial paper   (242) (7,988)
Borrowings under commercial paper   242 7,988
Change in bank drafts outstanding 9 (20) 12
Proceeds from issuance of long-term debt 1,150 1,191 2,950
Payment of debt issuance costs (24) (17) (20)
Proceeds from issuance of common stock   1,247 669
Proceeds from issuance of mandatory convertible preferred stock     1,673
Preferred stock dividend (16) (27) (79)
Cash paid for tax withholding (2) (9)  
Other (2) (1)  
Net cash provided by (used in) financing activities (352) 1,072 20
Increase (decrease) in cash and cash equivalents (507) 1,408 (38)
Cash and cash equivalents at beginning of year 1,423 15 53
Cash and cash equivalents at end of year $ 916 $ 1,423 $ 15
[1] In 2017, deferred tax activity incurred in other comprehensive income was offset by a valuation allowance.