Diamondback Energy Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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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, 2024 · Filed Nov 7, 2024
FANG$178.08-0.1%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, | ||
|---|---|---|
| 2024 | 2023 | |
| (In millions) | ||
| Cash flows from operating activities: | ||
| Net income (loss) | $2,411 | $2,325 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Provision for (benefit from) deferred income taxes | 180 | 185 |
| Depreciation, depletion, amortization and accretion | 1,694 | 1,277 |
| (Gain) loss on extinguishment of debt | (2) | 4 |
| (Gain) loss on derivative instruments, net | (101) | 358 |
| Cash received (paid) on settlement of derivative instruments | (36) | (62) |
| (Income) loss from equity investment, net | (23) | (39) |
| Equity-based compensation expense | 49 | 40 |
| Other | 77 | (23) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 61 | (218) |
| Income tax receivable | 12 | 267 |
| Prepaid expenses and other current assets | 78 | 5 |
| Accounts payable and accrued liabilities | (490) | 46 |
| Income taxes payable | (51) | 4 |
| Revenues and royalties payable | 109 | 139 |
| Other | 104 | (12) |
| Net cash provided by (used in) operating activities | 4,072 | 4,296 |
| Cash flows from investing activities: | ||
| Drilling, completions, infrastructure and midstream additions to oil and natural gas properties | (1,934) | (2,052) |
| Property acquisitions | (7,994) | (1,193) |
| Proceeds from sale of assets | 459 | 1,400 |
| Other | 103 | (14) |
| Net cash provided by (used in) investing activities | (9,366) | (1,859) |
| Cash flows from financing activities: | ||
| Proceeds under term loan agreement | 1,000 | — |
| Proceeds from borrowings under credit facilities | 1,185 | 4,466 |
| Repayments under credit facilities | (1,333) | (4,368) |
| Proceeds from senior notes | 5,500 | — |
| Repayment of senior notes | (25) | (134) |
| Repurchased shares under buyback program | (557) | (709) |
| Repurchased shares/units under Viper's buyback program | — | (67) |
| Proceeds from partial sale of investment in Viper Energy, Inc. | 451 | — |
| Net proceeds from Viper's issuance of common stock | 476 | — |
| Dividends paid to stockholders | (1,316) | (841) |
| Dividends/distributions to non-controlling interest | (157) | (84) |
| Other | (142) | (34) |
| Net cash provided by (used in) financing activities | 5,082 | (1,771) |
| Net increase (decrease) in cash and cash equivalents | (212) | 666 |
| Cash, cash equivalents and restricted cash at beginning of period | 585 | 164 |
| Cash, cash equivalents and restricted cash at end of period | $373 | $830 |
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