Diamondback Energy Inc
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
FANG$178.08-0.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In millions) | |||
| Cash flows from operating activities: | |||
| Net income (loss) | $3,701 | $3,336 | $4,562 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Provision for (benefit from) deferred income taxes | 15 | 378 | 720 |
| Depreciation, depletion, amortization and accretion | 2,850 | 1,746 | 1,344 |
| (Gain) loss on extinguishment of debt | (2) | 4 | 99 |
| (Gain) loss on derivative instruments, net | (137) | 259 | 586 |
| Cash received (paid) on settlement of derivative instruments | (51) | (110) | (850) |
| (Income) loss from equity investment, net | (21) | (48) | (77) |
| Equity-based compensation expense | 65 | 54 | 55 |
| Other | 89 | 5 | 85 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (42) | (71) | (47) |
| Income tax receivable | 9 | 283 | (283) |
| Prepaid expenses and other current assets | 54 | (89) | 21 |
| Accounts payable and accrued liabilities | (376) | 57 | (47) |
| Income taxes payable | 87 | (5) | 17 |
| Revenues and royalties payable | 168 | 123 | 156 |
| Other | 4 | (2) | (16) |
| Net cash provided by (used in) operating activities | 6,413 | 5,920 | 6,325 |
| Cash flows from investing activities: | |||
| Drilling, completions, infrastructure and midstream additions to oil and natural gas properties | (2,867) | (2,701) | (1,938) |
| Property acquisitions | (8,920) | (2,013) | (1,675) |
| Proceeds from sale of assets | 467 | 1,407 | 327 |
| Other | 99 | (16) | (44) |
| Net cash provided by (used in) investing activities | (11,221) | (3,323) | (3,330) |
| Cash flows from financing activities: | |||
| Proceeds under term loan agreement | 1,000 | — | — |
| Repayments under term loan agreement | (100) | — | — |
| Proceeds from borrowings under credit facilities | 3,375 | 4,779 | 5,204 |
| Repayments under credit facilities | (3,377) | (4,668) | (5,551) |
| Proceeds from senior notes | 5,500 | 400 | 2,500 |
| Repayment of senior notes | (25) | (134) | (2,410) |
| Proceeds from (repayments to) joint venture | — | — | (74) |
| Premium on extinguishment of debt | — | — | (63) |
| Repurchased shares under buyback program | (959) | (840) | (1,098) |
| Repurchased shares/units under Viper's buyback program | — | (95) | (153) |
| 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 | (1,578) | (1,444) | (1,572) |
| Dividends/distributions to non-controlling interest | (227) | (129) | (217) |
| Other | (149) | (45) | (69) |
| Net cash provided by (used in) financing activities | 4,387 | (2,176) | (3,503) |
| Net increase (decrease) in cash and cash equivalents | (421) | 421 | (508) |
| Cash, cash equivalents and restricted cash at beginning of period | 585 | 164 | 672 |
| Cash, cash equivalents and restricted cash at end of period | $164 | $585 | $164 |
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