XML 21 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 639 $ 1,049
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 254 162
Equity in net earnings from investments (76) (40)
Distributions received from unconsolidated affiliates 78 43
Deferred income taxes 180 285
Medford settlement gain 0 (779)
Medford settlement proceeds 0 502
Other, net 23 18
Changes in assets and liabilities:    
Accounts receivable 6 329
Inventories, net of commodity imbalances (179) 20
Accounts payable (29) (237)
Risk-management assets and liabilities (144) 26
Other assets and liabilities, net (156) (157)
Cash provided by operating activities 596 1,221
Investing activities    
Capital expenditures (less allowance for equity funds used during construction) (512) (289)
Purchases of and contributions to unconsolidated affiliates (92) (2)
Distributions received from unconsolidated affiliates in excess of cumulative earnings 25 8
Medford settlement proceeds 0 328
Other, net 1 2
Cash provided by (used in) investing activities (578) 47
Financing activities    
Dividends paid (578) (427)
Short-term borrowings, net 320 0
Issuance of long-term debt, net of discounts 0 50
Repayment of long-term debt 0 (425)
Other, net (33) (6)
Cash used in financing activities (291) (808)
Change in cash and cash equivalents (273) 460
Cash and cash equivalents at beginning of period 338 220
Cash and cash equivalents at end of period $ 65 $ 680