v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 214 $ 372
Trade receivables 308 330
Inventories 91 90
Assets held for sale 10 10
Receivable from affiliate 43 46
Other current assets, net 133 176
Total current assets 799 1,024
PROPERTY, PLANT AND EQUIPMENT 6,808 6,738
Accumulated depreciation, depletion and amortization (1,190) (1,058)
Total property, plant and equipment, net 5,618 5,680
INVESTMENT IN UNCONSOLIDATED SUBSIDIARY 82 86
DEFERRED INCOME TAXES 60 73
OTHER NONCURRENT ASSETS 268 272
TOTAL ASSETS 6,827 7,135
CURRENT LIABILITIES    
Current portion of long-term debt 122 0
Accounts payable 340 369
Accrued liabilities 499 611
Total current liabilities 961 980
NONCURRENT LIABILITIES    
Long-term debt, net 888 1,132
Asset retirement obligations 989 995
Deferred tax liability 134 113
Other long-term liabilities 339 377
STOCKHOLDERS' EQUITY    
Preferred stock (20,000,000 shares authorized at $0.01 par value) no shares outstanding at March 31, 2025 and December 31, 2024 0 0
Common stock (200,000,000 shares authorized at $0.01 par value) (109,960,216 and 109,613,585 shares issued; 89,175,034 and 91,100,322 shares outstanding at March 31, 2025 and December 31, 2024) 1 1
Treasury stock (20,785,182 shares held at cost at March 31, 2025 and 18,513,263 shares held at cost at December 31, 2024) (897) (796)
Additional paid-in capital 2,580 2,578
Retained earnings 1,759 1,680
Accumulated other comprehensive income 73 75
Total stockholders' equity 3,516 3,538
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,827 $ 7,135