EXPAND ENERGY Corp
For the period ended Sep 30, 2026. Filed Oct 27, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 27, 2026
EXE$87.94+2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| ($ in millions) | 2026 | 2025 |
| Cash flows from operating activities: | ||
| Net income | $2,200 | $1,266 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 2,183 | 2,221 |
| Deferred income tax expense | 550 | 320 |
| Derivative gains, net | (784) | (314) |
| Cash receipts on derivative settlements, net | 205 | 102 |
| Share-based compensation | 33 | 34 |
| Gains on sales of assets | (13) | (3) |
| Contract amortization | (137) | (171) |
| Gains on purchases, exchanges or extinguishments of debt | (37) | (4) |
| Other | 37 | 26 |
| Changes in assets and liabilities | 438 | 142 |
| Net cash provided by operating activities | 4,675 | 3,619 |
| Cash flows from investing activities: | ||
| Capital expenditures | (2,298) | (1,995) |
| Business combination, net | (1,395) | — |
| Property acquisitions | (9) | (69) |
| Receipts of deferred consideration | 161 | 116 |
| Contributions to investments | (2) | (14) |
| Distributions from investments | 10 | — |
| Proceeds from divestitures of property and equipment | 76 | 19 |
| Net cash used in investing activities | (3,457) | (1,943) |
| Cash flows from financing activities: | ||
| Proceeds from Credit Facility | 1,513 | 825 |
| Payments on Credit Facility | (1,063) | (825) |
| Payments on Twin Eagle Credit Facility | (141) | — |
| Proceeds from issuance of senior notes, net | 499 | — |
| Proceeds from warrant exercise | 15 | 22 |
| Debt issuance and other financing costs | (4) | (11) |
| Cash paid to repurchase and retire common stock | (900) | (100) |
| Cash paid to purchase debt | (1,287) | (663) |
| Cash paid for common stock dividends | (411) | (628) |
| Proceeds from accounts receivable financing | 86 | — |
| Net cash used in financing activities | (1,693) | (1,380) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (475) | 296 |
| Cash, cash equivalents and restricted cash, beginning of period | 696 | 395 |
| Cash, cash equivalents and restricted cash, end of period | $221 | $691 |
| Cash and cash equivalents | $118 | $613 |
| Restricted cash | 103 | 78 |
| Total cash, cash equivalents and restricted cash | $221 | $691 |
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