Table of Contents Index to Financial Statements SOUTHWESTERN ENERGY COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2019 December 31, 2018 ASSETS (in millions, except share amounts) Current assets: Cash and cash equivalents $ 5  $ 201  Accounts receivable, net 345  581  Derivative assets 278  130  Other current assets 51  44  Total current assets 679  956  Natural gas and oil properties, using the full cost method, including $1,506 million as of December 31, 2019 and $1,755 million as of December 31, 2018 excluded from amortization 25,250  24,180  Other 520  525  Less: Accumulated depreciation, depletion and amortization (20,503) (20,049) Total property and equipment, net 5,267  4,656  Operating lease assets 159  —  Deferred tax assets 407  —  Other long-term assets 205  185  Total long-term assets 771  185  TOTAL ASSETS $ 6,717  $ 5,797  LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 525  $ 609  Taxes payable 59  58  Interest payable 51  52  Derivative liabilities 125  79  Current operating lease liabilities 34  —  Other current liabilities 54  48  Total current liabilities 848  846  Long-term debt 2,242  2,318  Long-term operating lease liabilities 119  —  Pension and other postretirement liabilities 43  46  Other long-term liabilities 219  225  Total long-term liabilities 2,623  2,589  Commitments and contingencies ( Note 10 ) Equity: Common stock, $0.01 par value; 1,250,000,000 shares authorized; issued 585,555,923 shares as of December 31, 2019 and 585,407,107 as of December 31, 2018 6  6  Additional paid-in capital 4,726  4,715  Accumulated deficit (1,251) (2,142) Accumulated other comprehensive loss (33) (36) Common stock in treasury, 44,353,224 shares as of December 31, 2019 and 39,092,537 shares as of December 31, 2018 (202) (181) Total equity 3,246  2,362  TOTAL LIABILITIES AND EQUITY $ 6,717  $ 5,797  The accompanying notes are an integral part of these consolidated financial statements. 76