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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 1,120,333 $ 304,780
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 468,583 426,014
Impairment charges 0 641,754
Equity in net earnings from investments (87,613) (108,001)
Distributions received from unconsolidated affiliates 88,389 109,595
Deferred income tax expense 344,808 93,174
Other, net 57,479 (17,599)
Changes in assets and liabilities:    
Accounts receivable (687,031) 111,629
NGLs and natural gas in storage (400,300) 4,349
Accounts payable 756,072 (198,809)
Risk-management assets and liabilities (254,163) (136,543)
Other assets and liabilities 84,605 (127,215)
Cash provided by operating activities 1,491,162 1,103,128
Investing activities    
Capital expenditures (less allowance for equity funds used during construction) (490,329) (1,924,003)
Distributions received from unconsolidated affiliates in excess of cumulative earnings 19,188 22,280
Other, net (4,286) (80,148)
Cash used in investing activities (475,427) (1,981,871)
Financing activities    
Dividends paid (1,250,204) (1,189,575)
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) (1,433,480)
Issuance of common stock 21,871 959,653
Other (18,774) (56,461)
Cash provided by (used in) financing activities (1,315,894) 1,304,914
Change in cash and cash equivalents (300,159) 426,171
Cash and cash equivalents at beginning of period 524,496 20,958
Cash and cash equivalents at end of period $ 224,337 $ 447,129