Cash Flow Statement
Quarterly Data
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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- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Aggregate Accruals
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ONEOK Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Net Income (Loss)
- Net income generally shows a positive trend, increasing from $266 million in March 2018 to a peak of $1,049 million in March 2023. There is a notable dip to a loss of $142 million in March 2020 during the early stages of the COVID-19 pandemic, followed by a strong recovery and growth thereafter.
- Depreciation and Amortization
- This expense has steadily increased over the periods, from $104 million in March 2018 to $170 million by June 2023, reflecting ongoing capital investment.
- Impairment Charges
- A significant impairment charge of $642 million occurred in September 2020. Aside from this one-off event, impairment charges are minimal or absent in other periods.
- Equity in Net Earnings from Investments
- These earnings are consistently negative and relatively stable, fluctuating between approximately -$25 million and -$45 million, indicating sustained losses or costs in affiliated investments.
- Distributions Received from Unconsolidated Affiliates
- Distributions have generally decreased slightly over time from $41-$46 million in early 2018 to around $37-$43 million in 2023, suggesting a modest decline or stabilization in returns from these affiliates.
- Deferred Income Taxes
- Deferred taxes fluctuate significantly, with positive values in most periods, except for a negative $56 million in March 2020, likely related to shifting tax positions or impacts from net loss events. There is a notable spike to $285 million in March 2023.
- Medford Settlement
- A significant negative gain of $779 million was recorded in March 2023, offsetting earlier proceeds recorded the same year, reflecting a settlement with a major one-time financial effect.
- Other, Net
- The 'Other, net' category displays volatility with values ranging from negative to positive, with a particularly large positive amount of $53 million in December 2020 and fluctuations thereafter. This indicates variable miscellaneous income or expenses impacting results.
- Accounts Receivable
- Accounts receivable figures fluctuate widely between positive and negative values, indicating variability in collections or billing practices. Large negative spikes occur in late 2020 and 2021, while higher positive balances reappear in 2023.
- NGLs and Natural Gas in Storage, Net of Commodity Imbalances
- This asset fluctuates markedly between positive and negative values over the periods, signifying changing inventory levels or commodity market effects.
- Accounts Payable
- Accounts payable also show significant volatility, with sharp switches between positive and negative balances over periods. This suggests irregular payment cycles or timing differences in settling liabilities.
- Risk-Management Assets and Liabilities
- These balances are highly volatile, with values moving from positive to deeply negative and back, indicating active and fluctuating use of risk-management instruments.
- Other Assets and Liabilities, Net
- There is significant oscillation in this category with both positive and negative figures over time, reflecting substantial fluctuations in other operational asset and liability accounts.
- Changes in Assets and Liabilities
- There are large swings both positive and negative in this category, highlighting variability in working capital and operational adjustments quarter-to-quarter.
- Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
- These adjustments vary widely, with some very large positive spikes such as $676 million in December 2021, showing fluctuating non-cash items and working capital impacts affecting cash flow conversion.
- Cash Provided by Operating Activities
- Operating cash flow generally trends upward from $495 million in March 2018 to $1,221 million in March 2023. There are fluctuations reflecting operational challenges or timing effects, with a large jump in late 2021.
- Capital Expenditures
- Capital expenditures have shown an overall downward trend from -$832 million in December 2018 to a relatively lower range around -$289 to -$305 million by mid-2023, indicating a possible reduction in investment intensity.
- Cash Provided by (Used in) Investing Activities
- Investing cash flows are consistently negative throughout the periods, reflecting capital expenditures and acquisition activity, except for a positive $47 million in March 2023 correlating with settlement proceeds.
- Dividends Paid
- Dividends paid have steadily increased from around -$316 million in early 2018 to approximately -$428 million in mid-2023, indicating gradual dividend growth and a commitment to shareholder returns.
- Borrowings and Debt Issuance/Repayment
- Short-term borrowings fluctuate with some net issuances and repayments occurring intermittently. Long-term debt issuance is substantial in several periods, such as $1.9 billion in September 2019, while repayments also appear periodically. This pattern indicates active debt management and financing strategies.
- Issuance of Common Stock
- Issuance of common stock occurs sporadically with notable spikes in March 2018 ($1.182 billion) and March 2020 ($954 million), showing occasional equity financing.
- Cash Provided by (Used in) Financing Activities
- Financing cash flow shows high variability with both positive and negative values, reflecting mixed impacts of debt, equity transactions, dividends, and other financing activities. Recent periods (2022-2023) show predominantly negative financing cash flow.
- Change in Cash and Cash Equivalents
- The change in cash position varies considerably over time, with some quarters showing significant inflows (e.g., $460 million in March 2023) and others showing drawdowns, indicating active liquidity management in response to operational and financial needs.