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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES:      
Net income (loss) $ 714 $ 193 $ 2,509
Adjustments to reconcile to net cash provided (used) by operating activities:      
Depreciation and amortization 1,714 1,725 1,736
Provision (benefit) for deferred income taxes 376 220 (2,012)
Equity (earnings) losses (375) (396) (434)
Distributions from unconsolidated affiliates 657 693 784
Gain on disposition of equity-method investments (Note 6) (122) 0 (269)
Impairment of equity-method investments (Note 18) 186 32 0
(Gain) on sale of certain assets and businesses (Note 3) 2 (692) (1,095)
Impairment of certain assets (Note 18) 464 1,915 1,249
(Gain) loss on deconsolidation of businesses (Note 6) 29 (203) 0
Amortization of stock-based awards 57 55 78
Regulatory charges resulting from Tax Reform (Note 1) 0 (15) 776
Cash provided (used) by changes in current assets and liabilities:      
Accounts and notes receivable 34 (36) (88)
Inventories 5 (16) 8
Other current assets and deferred charges 21 17 (21)
Accounts payable (46) (93) 118
Accrued liabilities 153 23 (92)
Other, including changes in noncurrent assets and liabilities (176) (129) (158)
Net cash provided (used) by operating activities 3,693 3,293 3,089
FINANCING ACTIVITIES:      
Proceeds from (payments of) commercial paper – net (4) (2) (93)
Proceeds from long-term debt 767 3,926 3,333
Payments of long-term debt (909) (3,204) (5,925)
Proceeds from issuance of common stock 10 15 2,131
Proceeds from sale of partial interest in consolidated subsidiary (Note 3) 1,334 0 0
Common dividends paid (1,842) (1,386) (992)
Dividends and distributions paid to noncontrolling interests (124) (591) (822)
Contributions from noncontrolling interests 36 15 17
Payments for debt issuance costs 0 (26) (17)
Other – net (13) (46) (92)
Net cash provided (used) by financing activities (745) (1,299) (2,460)
INVESTING ACTIVITIES:      
Capital expenditures (2,109) (3,256) (2,399)
Dispositions – net (40) (7) (41)
Contributions in aid of construction 52 411 426
Proceeds from sale of businesses, net of cash divested (2) 1,296 2,067
Purchases of businesses, net of cash acquired (Note 3) (728) 0 0
Proceeds from dispositions of equity-method investments (Note 6) 485 0 200
Purchases of and contributions to equity-method investments (Note 6) (453) (1,132) (132)
Other – net (32) (37) (21)
Net cash provided (used) by investing activities (2,827) (2,725) 100
Increase (decrease) in cash and cash equivalents 121 (731) 729
Cash and cash equivalents at beginning of year 168 899 170
Cash and cash equivalents at end of year 289 168 899
(1) Increases to property, plant, and equipment (2,023) (3,021) (2,662)
Changes in related accounts payable and accrued liabilities (86) (235) 263
Capital expenditures $ (2,109) $ (3,256) $ (2,399)