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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 391,171 $ 386,176
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 153,858 157,120
Equity in net earnings from investments (36,340) (33,320)
Distributions received from unconsolidated affiliates 35,699 30,862
Deferred income taxes 110,531 119,194
Other, net 24,589 11,672
Changes in assets and liabilities:    
Accounts receivable (243,501) (85,212)
NGLs and natural gas in storage, net of commodity imbalances (46,788) (123,379)
Accounts payable 385,082 251,344
Accrued interest (99,154) (104,872)
Risk-management assets and liabilities (118,703) (19,302)
Other assets and liabilities, net (94,233) (56,966)
Cash provided by operating activities 462,211 533,317
Investing activities    
Capital expenditures (less allowance for equity funds used during construction) (256,978) (176,734)
Distributions received from unconsolidated affiliates in excess of cumulative earnings 9,795 10,191
Other, net 3,478 (4,148)
Cash used in investing activities (243,705) (170,691)
Financing activities    
Dividends paid (417,417) (416,229)
Short-term borrowings, net 78,000 0
Repayment of long-term debt 0 (56,492)
Other, net (10,870) (11,988)
Cash used in financing activities (350,287) (484,709)
Change in cash and cash equivalents (131,781) (122,083)
Cash and cash equivalents at beginning of period 146,391 524,496
Cash and cash equivalents at end of period $ 14,610 $ 402,413