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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 2,719 $ 904 $ 650
Adjusted for the following items:      
Earnings from investments in associates and joint ventures, net of distributions received 69 36 30
Depreciation and amortization expense 2,036 1,705 1,214
Mark-to-market on hedging items, provisions and other (1,768) 51 153
Deferred income tax expense 240 54 28
Changes in non-cash working capital, net (524) (220) 68
Cash from operating activities 2,772 2,530 2,143
Investing Activities      
Acquisition of subsidiaries, net of cash acquired (2,923) (3,405) (10,271)
Disposal of subsidiaries and assets held for sale, net of cash disposed 3,284 745 272
Investments in associates and joint ventures 0 (369) (539)
Disposal of investments in associates and joint ventures 412 0 135
Purchase of long lived assets (2,067) (1,472) (1,182)
Disposal of long lived assets 85 46 38
Purchase of financial assets (1,324) (1,170) (176)
Sale of financial assets 1,341 933 278
Net settlement of foreign exchange hedging items 19 83 73
Cash used by investing activities (1,173) (4,609) (11,372)
Financing Activities      
Distributions to general partner (209) (185) (158)
Distributions to other unitholders (1,048) (949) (869)
Subsidiary distributions to non-controlling interest (955) (1,278) (1,216)
Capital provided by non-controlling interest 3,071 3,091 6,902
Capital provided to non-controlling interest (1,560) (828) 0
Disposal of partial interest to non-controlling interest, net of taxes. 0 168 165
Acquisition of partial interest from non-controlling interest (1,399) (150) 0
Net proceeds from commercial paper program 431 0 0
Deposit (repaid to) received from parent (545) 545 0
Proceeds from corporate borrowings 244 657 376
Repayment of corporate borrowings 0 (339) (288)
Proceeds from corporate credit facility 5,928 3,183 4,651
Repayment of corporate credit facility (7,059) (2,872) (4,341)
Proceeds from non-recourse borrowings [1] 16,510 5,196 8,625
Repayment of non-recourse borrowings (14,499) (4,077) (5,052)
Lease liability repaid and other (966) (240) (106)
Net preferred units (redeemed) issued (12) 195 72
Partnership units issued, net of costs and repurchases 1,073 9 781
Cash (used by) from financing activities (995) 2,126 9,542
Cash and cash equivalents      
Change during the year 604 47 313
Impact of foreign exchange on cash (65) (7) (13)
Cash reclassified as held for sale 0 0 (13)
Cash and cash equivalents at beginning of period 867 827 540
Cash and cash equivalents at end of period $ 1,406 $ 867 $ 827
[1] Includes proceeds from the settlement of cross-currency interest rate swaps at our Australian export terminal.