v3.19.3
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 941 $ 40
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization(1) [1] 585 642
Deferred income taxes 33 69
Impairment losses 55 0
Mark-to-market activity, net [2] (297) 73
(Income) from unconsolidated subsidiaries (14) (16)
Return on investments from unconsolidated subsidiaries 11 5
Stock-based compensation expense 0 57
Other 12 17
Change in operating assets and liabilities:    
Accounts receivable 138 35
Accounts payable (217) (35)
Margin deposits and other prepaid expense 14 (43)
Other assets and liabilities, net 169 (32)
Derivative instruments, net 1 61
Net cash provided by operating activities 1,431 873
Cash flows from investing activities:    
Purchases of property, plant and equipment (435) (314)
Proceeds from Sale of Property, Plant, and Equipment 303 10
Other (5) (9)
Net cash used in investing activities (137) (313)
Cash flows from financing activities:    
Borrowings under First Lien Term Loans 1,687 0
Repayment of CCFC Term Loan and First Lien Term Loans (1,496) (31)
Repurchases of Senior Unsecured Notes (44) 0
Borrowings under revolving facilities 280 525
Repayments of revolving facilities (250) (525)
Repayments of project financing, notes payable and other (311) (89)
Distribution to noncontrolling interest holder 0 (6)
Financing costs (20) (12)
Stock repurchases 0 (79)
Shares repurchased for tax withholding on stock-based awards 0 (7)
Dividends paid(2) [3] (401) (20)
Proceeds from (Payments for) Other Financing Activities 54 4
Net cash used in financing activities (501) (240)
Net increase in cash, cash equivalents and restricted cash 793 320
Cash, cash equivalents and restricted cash, beginning of period 406 443
Cash, cash equivalents and restricted cash, end of period(3) [4] 1,199 763
Cash paid during the period for:    
Interest, net of amounts capitalized 402 401
Income taxes 8 10
Supplemental disclosure of non-cash investing and financing activities:    
Change in capital expenditures included in accounts payable 6 (12)
Plant tax settlement offset in prepaid assets (4) 0
Asset retirement obligation adjustment offset in operating activities (10) 0
Merger Related Costs [Member]    
Cash flows from financing activities:    
Dividends paid(2) [3] $ 1 $ 20
[1] Includes amortization recorded in Commodity revenue and Commodity expense associated with intangible assets and amortization recorded in interest expense associated with debt issuance costs and discounts.
[2] In addition to changes in market value on derivatives not designated as hedges, changes in mark-to-market gain (loss) also includes adjustments to reflect changes in credit default risk exposure.
[3] Dividends paid during the nine months ended September 30, 2019 and 2018, includes approximately $1 million and $20 million, respectively, in certain Merger-related costs incurred by CPN Management, our parent.
[4] Our cash and cash equivalents, restricted cash, current and restricted cash, net of current portion are stated as separate line items on our Consolidated Condensed Balance Sheets.