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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 1,626 $ 1,641
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 610 594
Deferred and other income taxes (7) 23
Other operating activities, net (22) (80)
Changes in current assets and liabilities:    
Accounts receivable, net (71) (89)
Materials and supplies 22 (27)
Other current assets (75) (55)
Accounts payable and other current liabilities (236) (220)
Income and other taxes 363 335
Cash provided by operating activities 2,210 2,122
Investing activities    
Capital investments (906) (797)
Other investing activities, net (32) (5)
Cash used in investing activities (938) (802)
Financing activities    
Debt issued (Note 13) 1,996 400
Share repurchase programs (Note 15) (1,420) 0
Dividends paid (804) (795)
Debt repaid (370) (1,358)
Accelerated share repurchase programs pending final settlement (Note 15) (300) 0
Net Issued/(paid) commercial paper (Note 12) 0 296
Other financing activities, net 20 6
Cash used in financing activities (878) (1,451)
Net change in cash, cash equivalents, and restricted cash 394 (131)
Cash, cash equivalents, and restricted cash at beginning of year 1,028 1,074
Cash, cash equivalents, and restricted cash at end of period 1,422 943
Non-cash investing and financing activities:    
Capital investments accrued but not yet paid 173 135
Cash paid during the period for:    
Income taxes, net of refunds (61) (46)
Interest, net of amounts capitalized (439) (463)
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Statement of Financial Position:    
Cash and cash equivalents 1,411 925
Restricted cash equivalents in other current assets 3 10
Restricted cash equivalents in other assets 8 8
Total cash, cash equivalents, and restricted cash equivalents per above $ 1,422 $ 943