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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating Activities        
Net income $ 1,673 $ 1,569 $ 3,314 $ 3,199
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation 596 577 1,190 1,149
Deferred and other income taxes     43 36
Other operating activities, net     (68) (126)
Changes in current assets and liabilities:        
Accounts receivable, net     (45) 70
Materials and supplies     (64) (1)
Other current assets     (127) (86)
Accounts payable and other current liabilities     (13) (340)
Income and other taxes     (197) (43)
Cash provided by operating activities     4,033 3,858
Investing Activities        
Capital investments     (1,699) (1,607)
Other investing activities, net     107 (67)
Cash used in investing activities     (1,592) (1,674)
Financing Activities        
Debt repaid     (1,807) (1,664)
Dividends paid     (1,588) (1,588)
Debt issued (Note 14)     800 1,599
Net issued/(paid) commercial paper (Note 14)     297 19
Share repurchase programs (Note 16)     (100) (705)
Other financing activities, net     30 11
Cash used in financing activities     (2,368) (2,328)
Net change in cash, cash equivalents, and restricted cash     73 (144)
Cash, cash equivalents, and restricted cash at beginning of year     1,074 987
Cash, cash equivalents, and restricted cash at end of period 1,147 843 1,147 843
Non-cash investing and financing activities:        
Capital investments accrued but not yet paid     173 207
Common shares repurchased but not yet paid     15 6
Cash paid during the period for:        
Income taxes, net of refunds     (1,146) (826)
Interest, net of amounts capitalized     (635) (628)
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Statement of Financial Position:        
Cash and cash equivalents 1,137 830 1,137 830
Restricted cash equivalents in other current assets 2 4 2 4
Restricted cash equivalents in other assets 8 9 8 9
Total cash, cash equivalents, and restricted cash equivalents per above $ 1,147 $ 843 $ 1,147 $ 843