Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 8

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 8
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 and equipment21 2,533 407 Proceeds from Credit Facility, net— — 1,050 Receipts of deferred consideration166 — — Proceeds from issuance of senior notes, net747 — — Proceeds from warrant exercise3 — 27 Capital expenditures(1,557)(1,829)(1,823)Contributions to investments(75)(231)(18)Payments on Credit Facility, net— (1,050)— Payments on Exit Credit Facility, net— — (221)Business combination, net(459)— (1,967)Cash paid to purchase debt(767)— — Debt issuance and other financing costs(11)— (17)Cash paid to repurchase and retire common stock— (355)(1,073)Cash paid for common stock dividends(388)(487)(1,212)Other(3)— — Net increase (decrease) in cash, cash equivalents and restricted cash$(758)$961 $(722)

Cash Flow from Operating Activities

Cash provided by operating activities was $1.57 billion, $2.38 billion and $4.12 billion during the years ended December 31, 2024, 2023 and 2022, respectively. The decrease in 2024 is primarily due to lower prices for the natural gas, oil and NGL we sold. The decrease in 2023 is primarily due to lower prices for the natural gas, oil and NGL we sold as well as decreased sales volumes related to our Eagle Ford divestitures. Cash flows from operations are largely affected by the same factors that affect our net income, excluding various non-cash items, such as depreciation, depletion and amortization, certain impairments, gains or losses on sales of assets, deferred income taxes and mark-to-market changes in our open derivative instruments. See further discussion below under Results of Operations.

Proceeds from Divestitures of Property and Equipment

In 2023, we sold our Eagle Ford assets through three separate transactions resulting in total cash proceeds of $2.5 billion after customary post-closing adjustments. In 2022, we sold our Powder River Basin assets to Continental Resources, Inc. for approximately $400 million after customary closing adjustments. See Note 2 of the notes to our consolidated financial statements included in Item 8 of Part II of this report for further discussion.

Proceeds from Credit Facility, net

In 2022, we borrowed a