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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities    
Net Loss $ (32) $ (15)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Equity in earnings of unconsolidated affiliates (27) (33)
Distributions from unconsolidated affiliates 19 21
Depreciation, amortization and accretion 502 471
Amortization of financing costs and debt discounts 11 10
Amortization of intangibles 137 137
Loss on debt extinguishment 7 3
Reduction in carrying amount of right-of-use assets 12 11
Changes in deferred income taxes (26) 23
Changes in derivative instruments and amortization of accumulated OCI/OCL 4 34
Changes in other working capital (96) (84)
Net Cash Provided by Operating Activities 511 578
Cash Flows from Investing Activities    
Acquisitions, net of cash acquired (324) 0
Acquisition of Drop Down Assets, net of cash acquired (219) (671)
Capital expenditures (213) (237)
Return of investment from unconsolidated affiliates 14 38
Decrease in note receivable — affiliate 0 184
Other 3 12
Net Cash Used in Investing Activities (739) (674)
Cash Flows from Financing Activities    
Contributions from noncontrolling interests, net of distributions 734 1,385
Payments of dividends and distributions (266) (249)
Pro-rata distributions to CEG (7) 0
Buyout of noncontrolling interest (3) 0
Proceeds from the revolving credit facility 480 0
Payments for the revolving credit facility (75) 0
Proceeds from the issuance of long-term debt 472 255
Payments of debt issuance costs (7) (7)
Payments for long-term debt (1,191) (1,664)
Other (1) (1)
Net Cash Provided by (Used in) Financing Activities 136 (281)
Net Decrease in Cash, Cash Equivalents and Restricted Cash (92) (377)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 733 1,051
Cash, Cash Equivalents and Restricted Cash at End of Period $ 641 $ 674