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, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 682 $ 1,935
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 168 167
Amortization of discount and debt issuance costs 7 7
Total gains on derivative instruments, net (55) (1,260)
Net cash provided by (used for) settlement of derivative instruments 12 (11)
Other 5 6
Changes in operating assets and liabilities:    
Trade and other receivables 136 358
Trade receivables—affiliate 118 288
Advances to affiliate (25) 18
Inventory 8 10
Accounts payable and accrued liabilities (343) (617)
Accrued liabilities—related party 0 (2)
Due to affiliates (22) (40)
Total deferred revenue (21) (61)
Other, net 3 53
Other, net—affiliate (4) (4)
Net cash provided by operating activities 669 847
Cash flows from investing activities    
Property, plant and equipment, net (36) (89)
Other (1) (5)
Net cash used in investing activities (37) (94)
Cash flows from financing activities    
Repayments of debt (150) 0
Distributions (720) (754)
Other (1) (1)
Net cash used in financing activities (871) (755)
Net decrease in cash, cash equivalents and restricted cash and cash equivalents (239) (2)
Cash, Cash Equivalents—beginning of period 631 996
Cash, Cash Equivalents—end of period $ 392 $ 994