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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities:        
Net income (loss) $ (880) $ 138 $ (2,427) $ 732
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation, depletion and amortization 84 115 197 227
Amortization of debt issuance costs     4 2
Impairments 655 6 2,134 6
Deferred income taxes 0 15 408 (411)
Gain on derivatives, unsettled     (17) (96)
Stock-based compensation 1 2 2 4
Gain on early extinguishment of debt (7) 0 (35) 0
Loss on sale of assets 0 3 0 3
Other     0 10
Change in assets and liabilities:        
Accounts receivable     94 221
Accounts payable     (121) (129)
Taxes payable     (11) (6)
Interest payable     (1) 1
Inventories     6 4
Other assets and liabilities     21 (25)
Net cash provided by operating activities     254 543
Cash Flows From Investing Activities:        
Capital investments     (472) (586)
Proceeds from sale of property and equipment     2 26
Net cash used in investing activities     (470) (560)
Cash Flows From Financing Activities:        
Payments on long-term debt     (72) 0
Payments on revolving credit facility     (919) 0
Borrowings under revolving credit facility     1,221 0
Change in bank drafts outstanding     (8) (7)
Purchase of treasury stock     0 (21)
Cash paid for tax withholding     (1) (1)
Net cash provided by (used in) financing activities     221 (29)
Increase (decrease) in cash and cash equivalents     5 (46)
Cash and cash equivalents at beginning of year     5 201
Cash and cash equivalents at end of period $ 10 $ 155 $ 10 $ 155