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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities:    
Net income (loss) $ 1,939 $ (2,675)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 313 275
Amortization of debt issuance costs 2 2
Deferred income taxes 12 0
(Gain) loss on derivatives, unsettled (1,524) 3,232
Stock-based compensation 1 1
Loss on early extinguishment of debt 19 2
Other 2 (1)
Change in assets and liabilities, excluding impact from acquisitions:    
Accounts receivable 734 89
Accounts payable (257) 126
Taxes payable (27) (13)
Interest payable (33) (16)
Inventories (14) 4
Other assets and liabilities (30) (54)
Net cash provided by operating activities 1,137 972
Cash Flows From Investing Activities:    
Capital investments (670) (500)
Net cash used in investing activities (670) (500)
Cash Flows From Financing Activities:    
Payments on current portion of long-term debt 0 (202)
Payments on long-term debt (437) (21)
Payments on revolving credit facility (1,357) (2,803)
Borrowings under revolving credit facility 1,317 2,517
Change in bank drafts outstanding (33) 34
Cash paid for tax withholding (4) (4)
Net cash used in financing activities (514) (479)
Decrease in cash and cash equivalents (47) (7)
Cash and cash equivalents at beginning of year 50 28
Cash and cash equivalents at end of period $ 3 $ 21