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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,837 $ 156
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 774 186
Deferred income tax expense 101 15
Loss on sale of assets 1 0
Loss on derivative instruments 457 101
Net cash (paid) received in settlement of derivative instruments (464) 3
Amortization of premium and debt issuance costs (19) 1
Stock-based compensation and other 38 14
Changes in assets and liabilities:    
Accounts receivable, net (489) 32
Income taxes (200) (16)
Inventories (9) (2)
Other current assets (6) (3)
Accounts payable and accrued liabilities 147 (12)
Interest payable 1 (3)
Other assets and liabilities 32 (3)
Net cash provided by operating activities 2,201 469
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (745) (274)
Proceeds from sale of assets 4 0
Net cash used in investing activities (741) (274)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of debt 0 (88)
Repayments of finance leases (3) 0
Treasury stock repurchases (487) 0
Dividends paid (940) (84)
Cash received for stock option exercises 10 0
Cash paid for conversion of redeemable preferred stock (10) 0
Tax withholdings on vesting of stock awards (7) (6)
Net cash used in financing activities (1,437) (178)
Net increase in cash, cash equivalents and restricted cash 23 17
Cash, cash equivalents and restricted cash, beginning of period 1,046 152
Cash, cash equivalents and restricted cash, end of period $ 1,069 $ 169