XML 71 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 3,112 $ 2,659 $ 1,722
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,134 769 626
Equity in net earnings from investments (Note O) (439) (202) (148)
Distributions received from unconsolidated affiliates 390 202 147
Deferred income taxes (Note N) 889 829 464
Gain on sale of business (Note B) (227) 0 0
Medford settlement gain (Note C) 0 (779) 0
Medford settlement proceeds (Note C) 0 502 61
Other, net 72 83 92
Changes in assets and liabilities:      
Accounts receivable 49 107 (148)
Inventories, net of commodity imbalances 17 118 (62)
Accounts payable 114 (62) (26)
Risk-management assets and liabilities (58) 96 197
Other assets and liabilities, net (165) 99 (19)
Cash provided by operating activities 4,888 4,421 2,906
Investing activities      
Capital expenditures (less allowance for equity funds used during construction) (2,021) (1,595) (1,202)
Cash paid for acquisitions, net of cash acquired (Note B) (5,829) (5,015) 0
Proceeds from the sale of business (Note B) 1,200 0 0
Purchases of and contributions to unconsolidated affiliates (Note O) (111) (207) (3)
Distributions received from unconsolidated affiliates in excess of cumulative earnings 52 50 20
Medford settlement proceeds (Note C) 0 328 39
Other, net 97 35 7
Cash used in investing activities (6,612) (6,404) (1,139)
Financing activities      
Dividends paid (2,313) (1,839) (1,672)
Issuance of long-term debt, net of discounts (Note H) 7,094 5,298 869
Repayment of long-term debt (Note H) (2,003) (1,300) (896)
Debt financing costs (67) (71) (8)
Repurchase of common stock (Note I) (159) 0 0
Repurchase of EnLink’s Series C Preferred Units (365) 0 0
Other, net (68) 13 14
Cash provided by (used in) financing activities 2,119 2,101 (1,693)
Change in cash and cash equivalents 395 118 74
Cash and cash equivalents at beginning of period 338 220 146
Cash and cash equivalents at end of period 733 338 220
Supplemental cash flow information:      
Cash paid for interest, net of amounts capitalized 1,297 653 582
Cash paid for income taxes, net of refunds $ 102 $ 37 $ 59