XML 22 R8.htm IDEA: XBRL DOCUMENT v3.24.2.u1Close
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income (loss) $ 691.6 $ 942.7
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization in interest expense 7.2 6.4
Compensation on equity grants 29.7 30.0
Depreciation and amortization expense 689.1 656.9
(Gain) loss on sale or disposition of assets 1.2 (3.2)
Write-downs of assets 1.2 2.6
Accretion of asset retirement obligations 3.2 3.1
Deferred income tax expense (benefit) 170.8 199.0
Equity (earnings) loss of unconsolidated affiliates (5.6) (3.2)
Distributions of earnings received from unconsolidated affiliates 11.2 4.8
Risk management activities 68.8 (327.7)
(Gain) loss from financing activities 0.8 0.0
Changes in operating assets and liabilities, net of acquisitions:    
Receivables and other assets 302.9 512.7
Inventories 60.2 89.2
Accounts payable, accrued liabilities and other liabilities (269.7) (319.9)
Interest payable 18.3 53.2
Net cash provided by operating activities 1,780.9 1,846.6 Close
Cash flows from investing activities    
Outlays for property, plant and equipment (1,410.1) (1,073.7)
Proceeds from sale of assets 2.0 1.9
Investments in unconsolidated affiliates (20.1) (6.2)
Return of capital from unconsolidated affiliates 1.0 4.0
Other, net (0.5) (0.6)
Net cash provided by (used in) investing activities (1,427.7) (1,074.6) Close
Debt obligations:    
Repayments of credit facilities 0.0 (290.0)
Proceeds from borrowings of commercial paper notes 36,477.0 28,982.8
Repayments of commercial paper notes (35,349.0) (29,331.5)
Repayment of term loan facility (500.0) 0.0
Proceeds from borrowings under accounts receivable securitization facility 125.0 51.0
Repayments of accounts receivable securitization facility (150.0) (303.1)
Proceeds from issuance of senior notes 0.0 1,717.1
Principal payments of finance leases (23.2) (20.7)
Costs incurred in connection with financing arrangements 0.0 (4.1)
Repurchase of shares (515.5) (234.9)
Contributions from noncontrolling interests 6.0 2.9
Distributions to noncontrolling interests (113.3) (99.6)
Repurchase of noncontrolling interests (1.3) (1,091.9)
Dividends paid to common and Series A Preferred shareholders (284.2) (199.6)
Net cash provided by (used in) financing activities (328.5) (821.6) Close
Net change in cash and cash equivalents 24.7 (49.6) Close
Cash and cash equivalents, beginning of period 141.7 219.0
Cash and cash equivalents, end of period $ 166.4 $ 169.4