SM ENERGY CO (SM) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-06-30

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SM ENERGY CO cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $736,000,000.00Depletion, depreciation, and amortization → Operating adjustments reconciliation: $1,024,000,000.00Net derivative (gain) loss → Operating adjustments reconciliation: $425,000,000.00Deferred income tax expense → Operating adjustments reconciliation: $231,000,000.00Stock-based compensation expense → Operating adjustments reconciliation: $36,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,007,000,000.00Operating adjustments reconciliation → Gain on divestiture activity: $262,000,000.00Operating adjustments reconciliation → Net derivative settlement gain (loss): $250,000,000.00Operating adjustments reconciliation → Net change in working capital: $149,000,000.00Operating adjustments reconciliation → Other, net: $38,000,000.00Operating adjustments reconciliation → Amortization of deferred financing costs and debt premiums, net: $10,000,000.00Net proceeds from the sale of oil and gas properties → investing reconciliation: $897,000,000.00investing reconciliation → Capital expenditures: $1,309,000,000.00investing reconciliation → Acquisition of business, net of cash acquired: $49,000,000.00investing reconciliation → Other: $24,000,000.00Net cash used in financing activities → financing reconciliation: $1,006,000,000.00Net proceeds from Senior Notes → financing reconciliation: $984,000,000.00Proceeds from revolving credit facility → financing reconciliation: $341,000,000.00financing reconciliation → Cash paid to repurchase Senior Notes: $1,743,000,000.00financing reconciliation → Repayment of revolving credit facility: $341,000,000.00financing reconciliation → Dividends paid: $135,000,000.00financing reconciliation → Repurchase of common stock: $87,000,000.00financing reconciliation → Other, net: $25,000,000.00Net cash used in investing activities → investing reconciliation: $485,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations → Cash sources and uses: $368,000,000.00Net cash from operating activities → Cash sources and uses: $1,743,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $620,000,000.00Cash sources and uses → Net cash used in investing activities: $485,000,000.00Cash sources and uses → Net cash used in financing activities: $1,006,000,000.00Net income: $736,000,000.00Net income+$736.00 MGain on divestiture activity: -$262,000,000.00Property sale gain & loss−$262.00 MDepletion, depreciation, and amortization: $1,024,000,000.00Depletion, depreciation & amort.+$1.02 BStock-based compensation expense: $36,000,000.00Stock-based compensation+$36.00 MNet derivative (gain) loss: $425,000,000.00Derivative gain & loss, pretax+$425.00 MNet derivative settlement gain (loss): -$250,000,000.00Derivative settlements, net−$250.00 MAmortization of deferred financing costs and debt premiums, net: -$10,000,000.00Debt cost amortization−$10.00 MDeferred income tax expense: $231,000,000.00Deferred income taxes+$231.00 MOther, net: -$38,000,000.00Other non-cash items−$38.00 MNet change in working capital: -$149,000,000.00Operating capital changes−$149.00 MNet cash from operating activities: $1,743,000,000.00Operating cash+$1.74 BOperating adjustments reconciliation: $1,716,000,000.00Proceeds from revolving credit facility: $341,000,000.00Credit line borrowings+$341.00 MRepayment of revolving credit facility: -$341,000,000.00Credit line repayments−$341.00 MNet proceeds from Senior Notes: $984,000,000.00Long-term debt issued, net+$984.00 MCash paid to repurchase Senior Notes: -$1,743,000,000.00Early senior debt repaid−$1.74 BRepurchase of common stock: -$87,000,000.00Common stock repurchases−$87.00 MDividends paid: -$135,000,000.00Common dividends paid−$135.00 MOther, net: -$25,000,000.00Other financing, net−$25.00 MNet cash used in financing activities: -$1,006,000,000.00. Cash required to fund net payments.Financing cash−$1.01 Bfinancing reconciliation: $2,331,000,000.00Net proceeds from the sale of oil and gas properties: $897,000,000.00Oil & gas property sales+$897.00 MCapital expenditures: -$1,309,000,000.00Oil & gas exploration spending−$1.31 BAcquisition of business, net of cash acquired: -$49,000,000.00Acquisitions, net of cash−$49.00 MOther: -$24,000,000.00Other investing, net−$24.00 MNet cash used in investing activities: -$485,000,000.00. Cash required to fund net payments.Investing cash−$485.00 Minvesting reconciliation: $1,382,000,000.00Cash sources and uses: $2,111,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $368,000,000.00Beginning cash$368.00 MEnding cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $620,000,000.00Ending cash$620.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flowNot availableCash flow / Net income2.37×Operating cash flow ÷ net incomeNet cash change+$252.00 MEnding cash − beginning cash
Chart details

SM ENERGY CO cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026

Cash flows for Jan 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Beginning cash: Dec 31, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
368,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
Operating activities
1,743,000,000 US dollars. Net cash provided.
Net income
736,000,000 US dollars
Gain on divestiture activity
negative 262,000,000 US dollars
Depletion, depreciation, and amortization
1,024,000,000 US dollars
Stock-based compensation expense
36,000,000 US dollars
Net derivative (gain) loss
425,000,000 US dollars
Net derivative settlement gain (loss)
negative 250,000,000 US dollars
Amortization of deferred financing costs and debt premiums, net
negative 10,000,000 US dollars
Deferred income tax expense
231,000,000 US dollars
Other, net
negative 38,000,000 US dollars
Net change in working capital
negative 149,000,000 US dollars
Investing activities
negative 485,000,000 US dollars. Net cash used.
Net proceeds from the sale of oil and gas properties
897,000,000 US dollars
Capital expenditures
negative 1,309,000,000 US dollars
Acquisition of business, net of cash acquired
negative 49,000,000 US dollars
Other
negative 24,000,000 US dollars
Financing activities
negative 1,006,000,000 US dollars. Net cash used.
Proceeds from revolving credit facility
341,000,000 US dollars
Repayment of revolving credit facility
negative 341,000,000 US dollars
Net proceeds from Senior Notes
984,000,000 US dollars
Cash paid to repurchase Senior Notes
negative 1,743,000,000 US dollars
Repurchase of common stock
negative 87,000,000 US dollars
Dividends paid
negative 135,000,000 US dollars
Other, net
negative 25,000,000 US dollars
Operating adjustment reconciliation
1,716,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
2,331,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
1,382,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Jun 30, 2026
620,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
Cash sources and uses
2,111,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
252,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
2.37×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.01B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
SM ENERGY CO (SM) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
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