Income tax payable

[Table of Contents](#i31241139a24240ee889881d54ce4b5f1_7)Diamondback Energy, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited)

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | Six Months Ended June 30, |
|  | 2022 |  | 2021 |
|  | (In millions) |
| Cash flows from operating activities: |  |  |  |
| Net income (loss)  | $ | 2,264  |  |  | $ | 551  |  |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |  |
| Provision for (benefit from) deferred income taxes | 273  |  |  | 155  |  |
|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
| Depreciation, depletion, amortization and accretion | 643  |  |  | 614  |  |
|  |  |  |  |
| (Gain) loss on extinguishment of debt | 58  |  |  | 61  |  |
|  |  |  |  |
| (Gain) loss on derivative instruments, net | 653  |  |  | 661  |  |
| Cash received (paid) on settlement of derivative instruments | (720) |  |  | (484) |  |
| (Income) loss from equity investment | (37) |  |  | (2) |  |
|  |  |  |  |
| Equity-based compensation expense | 28  |  |  | 23  |  |
|  |  |  |  |
| (Gain) loss on sale of equity method investments | —  |  |  | (23) |  |
|  |  |  |  |
| Other | 36  |  |  | 15  |  |
| Changes in operating assets and liabilities: |  |  |  |
| Accounts receivable | (380) |  |  | (172) |  |
|  |  |  |  |
| Income tax receivable | 1  |  |  | 99  |  |
|  |  |  |  |
| Prepaid expenses and other | 15  |  |  | 18  |  |
| Accounts payable and accrued liabilities | (21) |  |  | (26) |  |
|  |  |  |  |
|  |  |  |  |
| Income tax payable | (14) |  |  | —  |  |
| Revenues and royalties payable | 163  |  |  | 100  |  |
|  |  |  |  |
| Other | (3) |  |  | (12) |  |
| Net cash provided by (used in) operating activities | 2,959  |  |  | 1,578  |  |
| Cash flows from investing activities: |  |  |  |
| Drilling, completions and infrastructure additions to oil and natural gas properties | (863) |  |  | (645) |  |
|  |  |  |  |
|  |  |  |  |
| Additions to midstream assets | (42) |  |  | (17) |  |
|  |  |  |  |
| Property acquisitions | (381) |  |  | (421) |  |
|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
| Proceeds from sale of assets | 72  |  |  | 100  |  |
|  |  |  |  |
| Funds held in escrow | 12  |  |  | 51  |  |
|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
| Other | (30) |  |  | 34  |  |
| Net cash provided by (used in) investing activities | (1,232) |  |  | (898) |  |
| Cash flows from financing activities: |  |  |  |
| Proceeds from borrowings under credit facilities | 1,579  |  |  | 661  |  |
| Repayments under credit facilities | (1,563) |  |  | (780) |  |
| Proceeds from senior notes | 750  |  |  | 2,200  |  |
| Repayment of senior notes | (1,865) |  |  | (2,107) |  |
| Proceeds from (repayments to) joint venture | (17) |  |  | (10) |  |
| Premium on extinguishment of debt | (49) |  |  | (166) |  |
|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
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|  |  |  |  |
|  |  |  |  |
|  |  |  |  |
| Repurchased shares under buyback program | (310) |  |  | —  |  |
| Repurchased units under buyback program | (71) |  |  | (36) |  |
|  |  |  |  |
| Dividends to stockholders | (648) |  |  | (140) |  |
|  |  |  |  |
| Distributions to non-controlling interest | (110) |  |  | (41) |  |
|  |  |  |  |
|  |  |  |  |
| Financing portion of net cash received (paid) for derivative instruments | —  |  |  | 59  |  |
| Other | (36) |  |  | (32) |  |
| Net cash provided by (used in) financing activities | (2,340) |  |  | (392) |  |
| Net increase (decrease) in cash and cash equivalents | (613) |  |  | 288  |  |
| Cash, cash equivalents and restricted cash at beginning of period | 672  |  |  | 108  |  |
| Cash, cash equivalents and restricted cash at end of period(1) | $ | 59  |  |  | $ | 396  |  |
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(1) See [Note 2—Summary of Significant Accounting Policies](#i31241139a24240ee889881d54ce4b5f1_43).  
  
  
  
  
See accompanying notes to condensed consolidated financial statements.6
