v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) [1] $ 58 $ (355)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 429 419
Intangible amortization – PPAs 61 61
Change in value of derivative contracts (105) 214
Deferred income taxes 27 (41)
Equity in earnings of equity method investees, net of distributions received (20) 16
Equity in earnings of non-economic ownership interests, net of distributions received 0 16
Gains on disposal of businesses/assets – net (34) (9)
Goodwill impairment charge 0 253
Other – net 20 21
Changes in operating assets and liabilities:    
Current assets (10) (33)
Noncurrent assets (11) (5)
Current liabilities (9) (21)
Noncurrent liabilities 1 17
Net cash provided by operating activities 407 553
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures and other investments (510) (684)
Proceeds from sale of equity method investments 0 1,139
Investments in equity method investees (13) 0
Payments from related parties under CSCS agreement – net 7 114
Distributions from non-economic ownership interests 0 309
Other – net 49 19
Net cash provided by (used in) investing activities (467) 897
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common units – net 3 4
Issuances of long-term debt, including premiums and discounts 602 2,166
Retirements of long-term debt (714) (1,585)
Debt issuance costs (10) (49)
Partner contributions 89 5
Partner distributions (85) (395)
Payments to Class B noncontrolling interest investors (67) (71)
Buyout of Class B noncontrolling interest investors (149) (1,150)
Proceeds from differential membership investors 261 178
Payments to differential membership investors (142) (28)
Buyout of differential membership investors (181) (75)
Other – net (4) (3)
Net cash used in financing activities (397) (1,003)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (457) 447
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – BEGINNING OF PERIOD 1,023 328
CASH, CASH EQUIVALENTS AND RESTRICTED CASH – END OF PERIOD 566 775
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest, net of amounts capitalized 314 125
Cash received for income taxes – net 84 3
Accrued property additions $ 151 $ 310
[1] For each of the three and nine months ended September 30, 2026 and 2025, XPLR recognized less than $1 million and approximately $1 million, respectively, of other comprehensive income related to an equity method investee, which was primarily attributable to a noncontrolling interest.