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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 4,065 $ 1,158 $ 201
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 1,635 693 391
Deferred income tax expense 235 126 72
Loss on sale of assets 1 2 0
Exploratory dry hole cost 0 0 4
Loss (gain) on derivative instruments 463 221 (61)
Net cash (paid) received in settlement of derivative instruments (762) (431) 35
Amortization of debt premium and debt issuance costs (40) (10) 3
Gain on debt extinguishment (28) 0 0
Stock-based compensation and other 73 52 40
Changes in assets and liabilities:      
Accounts receivable, net (184) (229) (6)
Income taxes (118) 34 124
Inventories (24) 5 (2)
Other current assets (4) (4) 0
Accounts payable and accrued liabilities 96 47 (30)
Interest payable (5) 6 (2)
Other assets and liabilities 53 (3) 9
Net cash provided by operating activities 5,456 1,667 778
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures for drilling, completion and other fixed asset additions (1,700) (723) (570)
Capital expenditures for leasehold and property acquisitions (10) (5) (6)
Proceeds from sale of assets 36 8 1
Cash received from Merger 0 1,033 0
Proceeds from sale of equity method investments 0 0 (9)
Net cash (used in) provided by investing activities (1,674) 313 (584)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings from debt 0 100 196
Repayments of debt (874) (288) (283)
Repayment of finance leases (6) (2) 0
Common stock repurchases (1,250) 0 0
Dividends paid (1,992) (780) (159)
Tax withholding on vesting of stock awards (25) (114) (10)
Capitalized debt issuance costs 0 (4) 0
Cash received for stock option exercises 12 2 0
Cash paid for conversion of redeemable preferred stock (10) 0 0
Net cash used in financing activities (4,145) (1,086) (256)
Net (decrease) increase in cash, cash equivalents and restricted cash (363) 894 (62)
Cash, cash equivalents and restricted cash, beginning of period 1,046 152 214
Cash, cash equivalents and restricted cash, end of period $ 683 $ 1,046 $ 152