Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2012
- Operating Profit Margin since 2012
- Total Asset Turnover since 2012
- Price to Sales (P/S) since 2012
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Diamondback Energy Inc., consolidated cash flow statement
US$ in millions
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Net Income (Loss)
- The net income exhibited significant volatility, increasing from $517 million in 2017 to a peak of $945 million in 2018, before dropping sharply to $315 million in 2019. A substantial loss of $4,672 million occurred in 2020, followed by a strong recovery to $2,276 million in 2021.
- Deferred Income Taxes
- The provision for deferred income taxes fluctuated, with a negative value of -$21 million in 2017, rising to $169 million in 2018, followed by smaller positive values and a substantial benefit of -$1,042 million in 2020, then rebounding to a provision of $606 million in 2021.
- Impairment of Oil and Natural Gas Properties
- No impairments were recorded in 2017 and 2018, but impairments increased markedly to $790 million in 2019 and soared to $6,021 million in 2020. No impairments were reported in 2021.
- Depreciation, Depletion, Amortization, and Accretion
- This expense increased significantly from $328 million in 2017 to $1,454 million in 2019, then remained relatively stable around $1,300 million through 2021.
- Loss on Extinguishment of Debt
- Losses were absent prior to 2019, with minor amounts in 2019 and 2020 ($56 million and $5 million respectively), followed by a higher loss of $75 million in 2021.
- Derivative Instruments (Gain/Loss and Cash Settlements)
- The net gain/loss on derivative instruments showed fluctuations, with gains in some years and losses in others, reaching a loss of $848 million in 2021. Cash settlements were negative in 2018 and 2021, with a particularly large outflow of $1,247 million in 2021.
- Equity-Based Compensation Expense
- This expense steadily increased from $26 million in 2017 to $51 million in 2021, reflecting rising compensation costs over the period.
- Other Operating Items and Working Capital Changes
- Working capital elements such as accounts receivable, prepaid expenses, and accounts payable experienced variability, affecting cash flow from operations. Changes in operating assets and liabilities were particularly volatile, ranging from -$167 million in 2019 to $97 million in 2020.
- Net Cash Provided by Operating Activities
- Operating cash flows increased consistently from $889 million in 2017 to $3,944 million in 2021, demonstrating improving core operational cash generation despite net income volatility.
- Capital Expenditures and Acquisitions
- Capital spending on drilling, completions, and infrastructure showed a peak spend in 2019 ($2,677 million), then declined significantly by 2021. Property acquisitions decreased markedly from $2,368 million in 2017 to $812 million in 2021, with the lowest activity in 2020. Proceeds from asset sales increased substantially in 2021 to $820 million.
- Investing Activities
- Overall investing cash outflows diminished over time from a high of -$3,888 million in 2019 to -$1,539 million in 2021, reflecting lower capital expenditures and asset purchases.
- Financing Activities
- Financing cash flows were positive in the earlier years, peaking in 2018 at $2,041 million, then turned negative in 2020 and 2021, with outflows of -$37 million and -$1,841 million respectively, driven by debt repayments, share repurchases, and dividend payments. Notably, dividends increased annually, reaching $312 million in 2021.
- Cash and Cash Equivalents
- Cash balances at year-end fluctuated considerably, declining sharply from $1,667 million at the start of 2017 to just $108 million at the end of 2020, before recovering to $672 million at the end of 2021. The net increase/decrease in cash reflected these movements, with large decreases in 2017, 2019, and 2020, and a positive increase in 2021.