A heating and cooling system includes an evaporator, a compressor, and a condenser. A heat exchanger, which may be an outdoor heat exchanger, is configured to receive the refrigerant from the condenser, to selectively extract heat from or to add heat to the refrigerant, and to transfer the refrigerant to the evaporator. First control valving, disposed between the condenser and the heat exchanger, is configured to regulate flow of the refrigerant from the condenser to the heat exchanger in a first mode of operation. Second control valving, disposed between the condenser and the heat exchanger, is configured to regulate flow of the refrigerant from the heat exchanger to the evaporator in a second mode of operation. The system may be operated in a variety of modes by appropriate control of the valving and other system components.