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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss [1] $ (48) $ (328)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 140 136
Intangible amortization – PPAs 20 20
Change in value of derivative contracts 4 86
Deferred income taxes (43) (41)
Equity in earnings of equity method investees, net of distributions received 10 30
Equity in earnings of non-economic ownership interests, net of distributions received 0 8
Goodwill impairment charge 0 253
Other – net 7 1
Changes in operating assets and liabilities:    
Current assets (43) (27)
Noncurrent assets 3 1
Current liabilities (54) (63)
Noncurrent liabilities (1) 14
Net cash provided by (used in) operating activities (5) 90
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures and other investments (25) (89)
Payments from related parties under CSCS agreement – net 6 34
Other – net 0 6
Net cash used in investing activities (19) (49)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common units – net 3 3
Issuances of long-term debt, including premiums and discounts 294 1,754
Retirements of long-term debt (169) (536)
Debt issuance costs (6) (19)
Partner contributions 9 5
Partner distributions (25) (21)
Payments to Class B noncontrolling interest investors (20) (21)
Proceeds from differential membership investors 187 81
Payments to differential membership investors (127) (8)
Buyout of differential membership investors (141) (20)
Other – net (3) (1)
Net cash provided by financing activities 2 1,217
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (22) 1,258
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – BEGINNING OF PERIOD 1,023 328
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – END OF PERIOD 1,001 1,586
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest, net of amounts capitalized 135 66
Cash received for income taxes – net 8 4
Accrued property additions $ 480 $ 339
[1] For each of the three months ended March 31, 2026 and 2025, XPLR recognized less than $1 million of other comprehensive income related to an equity method investee, which was primarily attributable to a noncontrolling interest.