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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 608 $ 126
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 360 94
Deferred income tax expense 36 12
Gain on sale of assets (2) 0
Loss on derivative instruments 391 13
Net cash (paid) received in settlement of derivative instruments (171) 3
Amortization of premium and debt issuance costs (10) 1
Stock-based compensation and other 20 11
Changes in assets and liabilities:    
Accounts receivable, net (57) 17
Income taxes 124 24
Inventories (2) (1)
Other current assets 2 1
Accounts payable and accrued liabilities 21 4
Interest payable 1 (13)
Other assets and liabilities 1 (2)
Net cash provided by operating activities 1,322 290
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (271) (123)
Proceeds from sale of assets 2 0
Net cash used in investing activities (269) (123)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of debt 0 (88)
Repayments of finance leases (2) 0
Share repurchases (184) 0
Dividends paid (456) (40)
Cash received for stock option exercises 6 0
Tax withholdings on vesting of stock awards (6) (6)
Net cash used in financing activities (642) (134)
Net increase in cash, cash equivalents and restricted cash 411 33
Cash, cash equivalents and restricted cash, beginning of period 1,046 152
Cash, cash equivalents and restricted cash, end of period $ 1,457 $ 185