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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 6,747 $ 6,379 $ 6,998
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 2,398 2,318 2,246
Deferred and other income taxes 28 117 262
Other operating activities, net (13) (132) (152)
Changes in current assets and liabilities:      
Accounts receivable, net 179 (177) (169)
Materials and supplies (26) (2) (120)
Other current assets (69) (38) 5
Accounts payable and other current liabilities 189 (215) 565
Income and other taxes (87) 129 (273)
Cash provided by operating activities 9,346 8,379 9,362
Investing Activities      
Capital investments (3,452) (3,606) (3,620)
Other investing activities, net 127 (61) 149
Cash used in investing activities (3,325) (3,667) (3,471)
Financing Activities      
Dividends paid (3,213) (3,173) (3,159)
Debt repaid (2,226) (2,190) (2,291)
Share repurchase programs (Note 18) (1,505) (705) (6,282)
Debt issued (Note 14) 800 1,599 6,080
Other financing activities, net 77 (156) (235)
Cash used in financing activities (6,067) (4,625) (5,887)
Net change in cash, cash equivalents, and restricted cash (46) 87 4
Cash, cash equivalents, and restricted cash at beginning of year 1,074 987 983
Cash, cash equivalents, and restricted cash at end of year 1,028 1,074 987
Non-cash investing and financing activities:      
Capital investments accrued but not yet paid 165 137 152
Cash paid during the year for:      
Income taxes, net of refunds (1,340) (1,486) (2,060)
Interest, net of amounts capitalized $ (1,260) $ (1,268) $ (1,156)