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
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 1,252 $ 2,557
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 338 334
Amortization of discount and debt issuance costs 13 15
Loss on modification or extinguishment of debt 3 2
Total gains on derivative instruments, net (164) (1,502)
Net cash provided by settlement of derivative instruments 17 2
Other 9 11
Changes in operating assets and liabilities:    
Trade and other receivables 88 450
Trade receivables—affiliate 134 417
Advances to affiliate (38) 21
Inventory (3) 30
Accounts payable and accrued liabilities (146) (739)
Accrued liabilities—related party 0 (2)
Due to affiliates (18) (34)
Total deferred revenue (19) (21)
Other, net (62) 1
Other, net—affiliate (3) (4)
Net cash provided by operating activities 1,401 1,538
Cash flows from investing activities    
Property, plant and equipment, net (66) (149)
Other (3) (6)
Net cash used in investing activities (69) (155)
Cash flows from financing activities    
Proceeds from issuances of debt 1,228 1,397
Repayments of debt (1,530) (200)
Debt issuance and other financing costs (15) (27)
Distributions (1,224) (1,472)
Other (3) (2)
Net cash used in financing activities (1,544) (304)
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents (212) 1,079
Cash, Cash Equivalents—beginning of period 631 996
Cash, Cash Equivalents—end of period $ 419 $ 2,075