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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 6,998 $ 6,523 $ 5,349
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 2,246 2,208 2,210
Deferred and other income taxes 262 154 340
Gain on non-operating asset dispositions (176) (98) (115)
Other operating activities, net 24 42 490
Changes in current assets and liabilities:      
Accounts receivable, net (169) (217) 90
Materials and supplies (120) 17 113
Other current assets 5 31 (34)
Accounts payable and other current liabilities 565 184 (73)
Income and other taxes (273) 188 170
Cash provided by operating activities 9,362 9,032 8,540
Investing Activities      
Capital investments (3,620) (2,936) (2,927)
Proceeds from asset sales 194 178 149
Maturities of short-term investments (Note 13) 46 94 141
Purchases of short-term investments (Note 13) (46) (70) (136)
Other investing activities, net (45) 25 97
Cash used in investing activities (3,471) (2,709) (2,676)
Financing Activities      
Share repurchase programs (Note 18) (6,282) (7,291) (3,705)
Debt issued (Note 14) 6,080 4,201 4,004
Dividends paid (3,159) (2,800) (2,626)
Debt repaid (2,291) (1,299) (2,053)
Net issued/(paid) commercial paper (Note 14) (205) 325 (127)
Debt exchange (Note 14) 0 (270) (328)
Other financing activities, net (30) (24) (67)
Cash used in financing activities (5,887) (7,158) (4,902)
Net change in cash, cash equivalents, and restricted cash 4 (835) 962
Cash, cash equivalents, and restricted cash at beginning of year 983 1,818 856
Cash, cash equivalents, and restricted cash at end of year 987 983 1,818
Non-cash investing and financing activities:      
Capital investments accrued but not yet paid 152 263 166
Term loan renewals (Note 14) 0 100 250
Cash paid during the year for:      
Income taxes, net of refunds (2,060) (1,658) (1,214)
Interest, net of amounts capitalized $ (1,156) $ (1,087) $ (1,050)