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UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net income $ 2,516.9 $ 1,598.7
Reconciliation of net income to net cash flows provided by operating activities:    
Depreciation, amortization and accretion 963.1 873.8
Asset impairment and related charges 11.8 16.8
Equity in income of unconsolidated affiliates (292.0) (238.0)
Distributions received on earnings from unconsolidated affiliates 291.1 227.6
Net gains attributable to asset sales (2.5) (1.4)
Deferred income tax expense 4.2 10.0
Change in fair market value of derivative instruments (83.8) 459.0
Change in fair market value of Liquidity Option Agreement 84.4 16.4
Gain on step acquisition of unconsolidated affiliate 0.0 (39.4)
Net effect of changes in operating accounts (332.0) (228.5)
Other operating activities 22.5 2.8
Net cash flows provided by operating activities 3,183.7 2,697.8
Investing activities:    
Capital expenditures (2,260.8) (1,921.1)
Cash used for business combination 0.0 (149.7)
Investments in unconsolidated affiliates (59.9) (45.9)
Distributions received for return of capital from unconsolidated affiliates 23.4 25.9
Proceeds from asset sales 16.1 2.6
Other investing activities (5.3) (1.4)
Cash used in investing activities (2,286.5) (2,089.6)
Financing activities:    
Borrowings under debt agreements 40,318.1 38,566.4
Repayments of debt (39,617.3) (37,437.0)
Debt issuance costs (0.3) (24.3)
Cash distributions paid to limited partners (1,907.9) (1,847.3)
Cash payments made in connection with distribution equivalent rights (10.5) (8.6)
Cash distributions paid to noncontrolling interests (46.9) (28.3)
Cash contributions from noncontrolling interests 99.6 206.9
Net cash proceeds from the issuance of common units 82.2 261.0
Repurchase of common units under 2019 Buyback Program (81.1) 0.0
Other financing activities (35.9) (25.8)
Cash provided by (used in) financing activities (1,200.0) (337.0)
Net change in cash and cash equivalents, including restricted cash (302.8) 271.2
Cash and cash equivalents, including restricted cash, at beginning of period 410.1 70.3
Cash and cash equivalents, including restricted cash, at end of period $ 107.3 $ 341.5