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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,316 $ 1,383
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 994 905
Deferred income taxes and investment tax credits 379 193
Equity earnings (701) (631)
Foreign currency transaction losses (gains), net 22 (7)
Share-based compensation expense 32 34
Fixed-price contracts and other derivatives 122 199
Other 101 54
Net change in working capital components (3) (63)
Insurance receivable for Aliso Canyon costs 16 31
Distributions from investments 403 532
Changes in other noncurrent assets and liabilities, net (317) (375)
Net cash provided by operating activities 2,364 2,255
CASH FLOWS FROM INVESTING ACTIVITIES    
Expenditures for property, plant and equipment (2,361) (2,424)
Expenditures for investments and acquisitions (181) (165)
Purchases of nuclear decommissioning trust assets (397) (542)
Proceeds from sales of nuclear decommissioning trust assets 397 542
Advances to unconsolidated affiliates 0 (8)
Distributions from investments 0 4
Other 7 5
Net cash used in investing activities (2,535) (2,588)
CASH FLOWS FROM FINANCING ACTIVITIES    
Common dividends paid (711) (634)
Preferred dividends paid (22) (68)
Issuances of common stock 3 5
Repurchases of common stock (476) (38)
Issuances of debt (maturities greater than 90 days) 4,818 285
Payments on debt (maturities greater than 90 days) and finance leases (1,543) (1,432)
(Decrease) increase in short-term debt, net (2,011) 1,584
Advances from unconsolidated affiliates 18 20
Proceeds from sale of noncontrolling interests, net 1,732 7
Purchases of noncontrolling interests 0 (10)
Distributions to noncontrolling interests (106) 0
Contributions from noncontrolling interests 13 0
Other (30) (1)
Net cash provided by (used in) financing activities 1,685 (282)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2) 1
Increase (decrease) in cash, cash equivalents and restricted cash 1,512 (614)
Cash, cash equivalents and restricted cash, January 1 581 985
Cash, cash equivalents and restricted cash, June 30 2,093 371
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest payments, net of amounts capitalized 466 488
Income tax payments, net of refunds 233 73
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Increase in Cameron LNG JV investment for guarantee 0 22
Repayment of advances from unconsolidated affiliate in lieu of distribution 32 0
Accrued capital expenditures 476 526
Increase in finance lease obligations for investment in PP&E 22 24
Increase in ARO for investment in PP&E 55 8
Issuance of common stock in exchange for NCI and related AOCI 0 1,373
Conversion of mandatory convertible preferred stock 0 1,693
Preferred stock    
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Dividends declared but not paid 11 20
Common stock    
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Dividends declared but not paid $ 359 $ 347