v3.26.1
STATEMENTS OF CONDENSED CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 1,835,378 $ 1,172,074
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income tax expense 491,617 304,878
Depreciation, depletion and amortization 1,344,384 1,244,246
Loss on sale/exchange of long-lived assets 3,552 3,221
Impairment and expiration of leases 10,055 5,915
Income from investments (122,241) (93,636)
Loss on debt extinguishment 29,869 17,569
Share-based compensation expense 42,381 28,535
Distributions from equity method investments 121,323 132,881
Other 10,509 3,358
Loss (gain) on derivatives 193,629 (41,045)
Net cash settlements paid on derivatives (231,048) (193,350)
Changes in other assets and liabilities:    
Accounts receivable 629,685 295,699
Accounts payable (209,653) 10,253
Income tax receivable and payable 25,320 97,378
Other current assets 8,611 (1,459)
Other items, net (80,312) (3,651)
Net cash provided by operating activities 4,103,059 2,982,866
Cash flows from investing activities:    
Capital expenditures (1,248,676) (1,049,289)
Cash paid for acquisitions 0 (100,167)
Net cash received (paid) for sale/exchange of assets 91 (6,284)
Cash paid for acquisitions of additional interests in equity method investments (216,209) 0
Capital contributions to equity method investments (56,520) (42,047)
Other investing activities (2,221) (245)
Net cash used in investing activities (1,523,535) (1,198,032)
Cash flows from financing activities:    
Proceeds from revolving credit facility borrowings 2,461,000 2,234,000
Repayment of revolving credit facility borrowings (2,497,000) (2,422,800)
Debt issuance costs 0 (7,238)
Repayment and retirement of debt (2,122,944) (813,017)
Net premiums paid on debt extinguishment (22,631) (24,802)
Dividends paid (206,278) (188,372)
Contribution from noncontrolling interests 98,357 0
Distributions to noncontrolling interests (238,031) (151,954)
Cash paid for taxes to net settle share-based incentive awards (46,135) (53,253)
Other financing activities (3,794) (3,999)
Net cash used in financing activities (2,577,456) (1,431,435)
Net change in cash and cash equivalents 2,068 353,399
Cash and cash equivalents at beginning of period 110,795 202,093
Cash and cash equivalents at end of period $ 112,863 $ 555,492