Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 159 $ 347
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 153 139
Amortization of debt issuance costs, premium and discount 7 8
Loss on modification or extinguishment of debt 0 54
Total losses on derivative instruments, net 525 2
Net cash provided by (used for) settlement of derivative instruments (9) 20
Other 4 3
Changes in operating assets and liabilities:    
Trade and other receivables, net of current expected credit losses 88 (56)
Accounts receivable—affiliate (74) 86
Advances to affiliate (8) 18
Inventory 25 4
Accounts payable and accrued liabilities 13 24
Accrued liabilities—related party 1 (1)
Due to affiliates (20) (20)
Deferred revenue (39) (36)
Other, net (24) (6)
Other, net—affiliate (1) 2
Net cash provided by operating activities 800 588
Cash flows from investing activities    
Property, plant and equipment (87) (146)
Net cash used in investing activities (87) (146)
Cash flows from financing activities    
Proceeds from issuances of debt 0 1,500
Redemptions and repayments of debt 0 (1,500)
Debt issuance and other financing costs 0 (19)
Debt extinguishment costs 0 (40)
Distributions to owners (395) (351)
Other 0 3
Net cash used in financing activities (395) (407)
Net increase in cash, cash equivalents and restricted cash and cash equivalents 318 35
Cash, Cash Equivalents—beginning of period 974 1,307
Cash, Cash Equivalents—end of period $ 1,292 $ 1,342