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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income (loss) $ 1,221.7 $ 1,135.5
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization in interest expense 9.8 7.2
Compensation on equity grants 45.7 41.8
Depreciation and amortization expense 988.2 766.2
(Gain) loss on sale or disposition of assets (3.9) (8.1)
Write-downs of assets 6.0 3.7
Accretion of asset retirement obligations 4.5 3.5
Deferred income tax expense (benefit) 252.1 116.4
Equity (earnings) loss of unconsolidated affiliates (6.2) (8.7)
Distributions of earnings received from unconsolidated affiliates 9.6 11.0
Risk management activities (294.3) 295.0
(Gain) loss from financing activities   49.6
(Gain) loss from sale of equity method investment   (435.9)
Changes in operating assets and liabilities, net of acquisitions:    
Receivables and other assets 197.2 79.4
Inventories (134.1) (320.5)
Accounts payable, accrued liabilities and other liabilities 30.6 144.8
Interest payable (73.0) (37.6)
Net cash provided by operating activities 2,253.9 1,843.3 Close
Cash flows from investing activities    
Outlays for property, plant and equipment (1,665.4) (815.4)
Outlays for business acquisition, net of cash acquired 0.0 (3,514.8)
Outlays for asset acquisition, net of cash acquired 0.0 (203.7)
Proceeds from sale of assets 2.9 18.3
Investments in unconsolidated affiliates (14.9) (1.5)
Proceeds from sale of equity method investment   857.0
Return of capital from unconsolidated affiliates 4.5 12.5
Other, net (0.9)  
Net cash provided by (used in) investing activities (1,673.8) (3,647.6) Close
Debt obligations:    
Proceeds from borrowings under credit facilities 0.0 5,305.0
Repayments of credit facilities (290.0) (4,755.0)
Proceeds from borrowings of commercial paper notes 47,077.8 8,584.8
Repayments of commercial paper notes (46,936.5) (7,952.8)
Proceeds from borrowings under term loan facility   1,500.0
Proceeds from borrowings under accounts receivable securitization facility 103.1 1,180.0
Repayments of accounts receivable securitization facility (343.1) (580.0)
Proceeds from issuance of senior notes 1,717.0 2,741.4
Redemption of senior notes 0.0 (1,473.2)
Principal payments of finance leases (31.3) (10.8)
Costs incurred in connection with financing arrangements (5.0) (44.4)
Repurchase of shares (388.5) (227.9)
Contributions from noncontrolling interests 7.1 13.9
Distributions to noncontrolling interests (163.5) (252.0)
Repurchase of noncontrolling interests (1,091.9) (926.3)
Redemption of Series A Preferred Stock 0.0 (965.2)
Dividends paid to common and Series A Preferred shareholders (314.8) (298.8)
Net cash provided by (used in) financing activities (659.6) 1,838.7 Close
Net change in cash and cash equivalents (79.5) 34.4 Close
Cash and cash equivalents, beginning of period 219.0 158.5
Cash and cash equivalents, end of period $ 139.5 $ 192.9