Table of Contents Index to Financial Statements SOUTHWESTERN ENERGY COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS The accompanying notes are an integral part of these consolidated financial statements. December 31, 2020 December 31, 2019 ASSETS (in millions, except share amounts) Current assets: Cash and cash equivalents $ 13  $ 5  Accounts receivable, net 368  345  Derivative assets 241  278  Other current assets 49  51  Total current assets 671  679  Natural gas and oil properties, using the full cost method, including $1,472 million as of December 31, 2020 and $1,506 million as of December 31, 2019 excluded from amortization 27,261  25,250  Other 523  520  Less: Accumulated depreciation, depletion and amortization (23,673) (20,503) Total property and equipment, net 4,111  5,267  Operating lease assets 163  159  Deferred tax assets —  407  Other long-term assets 215  205  Total long-term assets 378  771  TOTAL ASSETS $ 5,160  $ 6,717  LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 573  $ 525  Taxes payable 74  59  Interest payable 58  51  Derivative liabilities 245  125  Current operating lease liabilities 42  34  Other current liabilities 20  54  Total current liabilities 1,012  848  Long-term debt 3,150  2,242  Long-term operating lease liabilities 117  119  Long-term derivative liabilities 183  111  Pension and other postretirement liabilities 45  43  Other long-term liabilities 156  108  Total long-term liabilities 3,651  2,623  Commitments and contingencies ( Note 10 ) Equity: Common stock, $0.01 par value; 1,250,000,000 shares authorized; issued 718,795,700 shares as of December 31, 2020 and 585,555,923 as of December 31, 2019 7  6  Additional paid-in capital 5,093  4,726  Accumulated deficit (4,363) (1,251) Accumulated other comprehensive loss (38) (33) Common stock in treasury, 44,353,224 shares as of December 31, 2020 and 2019 (202) (202) Total equity 497  3,246  TOTAL LIABILITIES AND EQUITY $ 5,160  $ 6,717  77