Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net Income $ 347 $ 435
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 139 138
Amortization of debt issuance costs, premium and discount 8 9
Loss on modification or extinguishment of debt 54 1
Total losses (gains) on derivatives, net 2 (21)
Net cash provided by settlement of derivative instruments 20 5
Impairment expense and loss on disposal of assets 0 5
Other 3 3
Changes in operating assets and liabilities:    
Accounts and other receivables, net (56) 38
Accounts receivable—affiliate 86 67
Advances to affiliate 18 17
Inventory 4 19
Accounts payable and accrued liabilities 24 (100)
Accrued liabilities—related party (1) 0
Due to affiliates (20) (13)
Deferred revenue (36) (61)
Other, net (6) (3)
Other, net—affiliate 2 (4)
Net cash provided by operating activities 588 535
Cash flows from investing activities    
Property, plant and equipment, net (146) (317)
Net cash used in investing activities (146) (317)
Cash flows from financing activities    
Proceeds from issuances of debt 1,500 0
Repayments of debt (1,500) 0
Debt issuance and other financing costs (19) (7)
Debt extinguishment costs (40) 0
Distributions to owners (351) (330)
Other 3 0
Net cash used in financing activities (407) (337)
Net increase (decrease) in cash, cash equivalents and restricted cash 35 (119)
Cash, cash equivalents and restricted cash—beginning of period 1,307 1,962
Cash, cash equivalents and restricted cash—end of period $ 1,342 $ 1,843