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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows From Operating Activities:    
Net income (loss) $ (1,547) $ 594
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 113 112
Amortization of debt issuance costs 1 1
Impairments 1,479 0
Deferred income taxes 408 (426)
(Gain) loss on derivatives, unsettled (246) 22
Stock-based compensation 1 2
Gain on early extinguishment of debt (28) 0
Other 0 1
Change in assets and liabilities:    
Accounts receivable 53 189
Accounts payable (86) (48)
Taxes payable (6) 4
Interest payable 1 2
Inventories 8 5
Other assets and liabilities 9 (16)
Net cash provided by operating activities 160 442
Cash Flows From Investing Activities:    
Capital investments (228) (258)
Net cash used in investing activities (228) (258)
Cash Flows From Financing Activities:    
Payments on long-term debt (52) 0
Payments on revolving credit facility (500) 0
Borrowings under revolving credit facility 615 0
Change in bank drafts outstanding 5 3
Purchase of treasury stock 0 (21)
Cash paid for tax withholding 0 (1)
Net cash provided by (used in) financing activities 68 (19)
Increase in cash and cash equivalents 0 165
Cash and cash equivalents at beginning of year 5 201
Cash and cash equivalents at end of period $ 5 $ 366