Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 1,630 $ 1,183 $ 1,175
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 557 551 527
Amortization of debt issuance costs, premium and discount 29 32 34
Loss on modification or extinguishment of debt 101 43 13
Total losses (gains) on derivatives, net (29) 49 (72)
Total gains on derivatives, net—related party (2) 0 0
Net cash provided by (used for) settlement of derivative instruments (17) (4) 5
Impairment expense and loss on disposal of assets 10 5 7
Other 17 14 11
Other—affiliate 0 (2) (2)
Changes in operating assets and liabilities:      
Accounts and other receivables, net of current expected credit losses (204) (21) 16
Accounts receivable—affiliate (32) (80) 9
Accounts receivable—related party (1) 0 0
Advances to affiliate 2 8 (41)
Inventory (68) 8 (16)
Accounts payable and accrued liabilities 321 0 (126)
Accrued liabilities—related party (1) 4 0
Due to affiliates 1 9 6
Deferred revenue 18 (18) 39
Other, net (41) (28) (36)
Other, net—affiliate 0 (2) (2)
Net cash provided by operating activities 2,291 1,751 1,547
Cash flows from investing activities      
Property, plant and equipment (648) (972) (1,331)
Other 0 0 (1)
Net cash used in investing activities (648) (972) (1,332)
Cash flows from financing activities      
Proceeds from issuances of debt 3,182 1,995 2,230
Redemptions and repayments of debt (3,600) (2,000) (730)
Debt issuance and other financing costs (39) (35) (35)
Debt extinguishment costs (76) (39) (4)
Distributions to owners (1,451) (1,359) (1,260)
Other 8 4 5
Net cash provided by (used in) financing activities (1,976) (1,434) 206
Net increase (decrease) in cash, cash equivalents (333) (655) 421
Cash, Cash Equivalents—beginning of period 1,307 1,962 1,541
Cash, Cash Equivalents—end of period $ 974 $ 1,307 $ 1,962