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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 29 $ 21
Accounts receivable, net 491 680
Derivative assets 640 614
Other current assets 91 100
Total current assets 1,251 1,415
Natural gas and oil properties, using the full cost method, including $2,037 million as of March 31, 2024 and $2,075 million as of December 31, 2023 excluded from amortization 38,308 37,772
Other 573 566
Less: Accumulated depreciation, depletion and amortization (30,784) (28,425)
Total property and equipment, net 8,097 9,913
Operating lease assets 144 154
Long-term derivative assets 131 175
Deferred tax assets 674 238
Other long-term assets 101 96
Total long-term assets 1,050 663
TOTAL ASSETS 10,398 11,991 CloseClose
Current liabilities:     Close
Current portion of long-term debt 389 0 Close
Accounts payable 1,299 1,384 Close
Taxes payable 123 128 Close
Interest payable 26 77 Close
Derivative liabilities 116 79 Close
Current operating lease liabilities 43 44 Close
Other current liabilities 28 17 Close
Total current liabilities 2,024 1,729
Long-term debt 3,609 3,947 Close
Long-term operating lease liabilities 100 107 Close
Long-term derivative liabilities 75 100 Close
Other long-term liabilities 224 220 Close
Total long-term liabilities 4,008 4,374
Commitments and contingencies (Note 11) Close
Equity:    
Total Liabilities 6032.0 6103.0 0 0 0 Close
Common stock, $0.01 par value; 2,500,000,000 shares authorized; issued 1,164,459,599 shares as of March 31, 2024 and 1,163,077,745 shares as of December 31, 2023 12 12 Close
Additional paid-in capital 7,199 7,188
Accumulated deficit (2,517) (982)
Accumulated other comprehensive loss (1) (3)
Common stock in treasury, 61,614,693 shares as of March 31, 2024 and December 31, 2023 (327) (327)
Total equity 4,366 5,888 CloseClose
TOTAL LIABILITIES AND EQUITY $ 10,398 $ 11,991