Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 501 $ 742
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 309 277
Amortization of debt issuance costs, premium and discount 15 15
Loss on modification or extinguishment of debt 0 54
Losses (gains) on derivative instruments, net 819 (54)
Net cash provided by (used for) settlement of derivative instruments (37) 18
Other 16 13
Changes in operating assets and liabilities:    
Trade and other receivables, net of current expected credit losses (208) 32
Accounts receivable—affiliate (269) 119
Advances to affiliate 7 3
Inventory 4 (9)
Accounts payable and accrued liabilities 491 (48)
Accrued liabilities—related party 2 0
Due to affiliates 5 (13)
Deferred revenue (31) (32)
Other, net (39) (49)
Other, net—affiliate 1 7
Net cash provided by operating activities 1,586 1,075
Cash flows from investing activities    
Property, plant and equipment (239) (316)
Net cash used in investing activities (239) (316)
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 (20)
Debt extinguishment costs 0 (40)
Distributions to owners (1,132) (710)
Other 0 8
Net cash used in financing activities (1,132) (762)
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 215 (3)
Cash, Cash Equivalents—beginning of period 974 1,307
Cash, Cash Equivalents—end of period $ 1,189 $ 1,304