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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 6,523 $ 5,349 $ 5,919
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 2,208 2,210 2,216
Deferred and other income taxes 154 340 566
Gain on non-operating asset dispositions (98) (115) (20)
Other operating activities, net 42 490 98
Changes in current assets and liabilities:      
Accounts receivable, net (217) 90 160
Materials and supplies 17 113 (9)
Other current assets 31 (34) 87
Accounts payable and other current liabilities 184 (73) (179)
Income and other taxes 188 170 (229)
Cash provided by operating activities 9,032 8,540 8,609
Investing Activities      
Capital investments (2,936) (2,927) (3,453)
Proceeds from asset sales 178 149 74
Maturities of short-term investments (Note 13) 94 141 130
Purchases of short-term investments (Note 13) (70) (136) (115)
Other investing activities, net 25 97 (71)
Cash used in investing activities (2,709) (2,676) (3,435)
Financing Activities      
Share repurchase programs (Note 18) (7,291) (3,705) (5,804)
Debt issued (Note 14) 4,201 4,004 3,986
Dividends paid (2,800) (2,626) (2,598)
Debt repaid (1,299) (2,053) (817)
Net issued/(paid) commercial paper (Note 14) 325 (127) (6)
Debt exchange (Note 14) (270) (328) (387)
Other financing activities, net (24) (67) (20)
Cash used in financing activities (7,158) (4,902) (5,646)
Net change in cash, cash equivalents, and restricted cash (835) 962 (472)
Cash, cash equivalents, and restricted cash at beginning of year 1,818 856 1,328
Cash, cash equivalents, and restricted cash at end of year 983 1,818 856
Non-cash investing and financing activities:      
Term loan renewals (Note 14) 100 250 250
Capital investments accrued but not yet paid 263 166 224
Locomotives sold for material credits 0 0 18
Cash paid during the year for:      
Income taxes, net of refunds (1,658) (1,214) (1,382)
Interest, net of amounts capitalized $ (1,087) $ (1,050) $ (1,033)