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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income (loss) $ 728,315 $ (7,536)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 314,041 272,769
Impairment charges 0 641,754
Equity in net earnings from investments (59,040) (69,955)
Distributions received from unconsolidated affiliates 58,486 71,656
Deferred income tax expense (benefit) 226,963 (13,541)
Other, net 39,837 (25,944)
Changes in assets and liabilities:    
Accounts receivable (268,541) 220,558
NGLs and natural gas in storage (226,950) 103,043
Accounts payable 363,694 (240,841)
Risk-management assets and liabilities (158,927) (139,724)
Other assets and liabilities 60,105 (75,821)
Cash provided by operating activities 1,077,983 736,418
Investing activities    
Capital expenditures (less allowance for equity funds used during construction) (324,122) (1,543,961)
Distributions received from unconsolidated affiliates in excess of cumulative earnings 11,695 18,081
Other, net (12,138) (29,006)
Cash used in investing activities (324,565) (1,554,886)
Financing activities    
Dividends paid (833,083) (773,961)
Repayment of short-term borrowings, net 0 (220,000)
Issuance of long-term debt, net of discounts 0 3,244,777
Repayment of long-term debt (68,787) (1,406,119)
Issuance of common stock 16,327 954,423
Other (17,994) (55,878)
Cash provided by (used in) financing activities (903,537) 1,743,242
Change in cash and cash equivalents (150,119) 924,774
Cash and cash equivalents at beginning of period 524,496 20,958
Cash and cash equivalents at end of period $ 374,377 $ 945,732