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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 2,013 $ 2,722 $ 2,666
Reconciliation of net income to net cash provided by operating activities:      
Depreciation 1,154 1,139 1,104
Deferred income taxes 142 330 173
Gains and losses on properties (39) (42) (171)
Loss on asset disposal 385 0 0
Impairment of investment 99 0 0
Changes in assets and liabilities affecting operations:      
Accounts receivable 71 87 (70)
Materials and supplies 23 (37) 15
Other current assets 3 (4) (46)
Current liabilities other than debt 34 (185) 223
Other – net (248) (118) (168)
Net cash provided by operating activities 3,637 3,892 3,726
Cash flows from investing activities:      
Property additions (1,494) (2,019) (1,951)
Property sales and other transactions 333 377 204
Investment purchases (13) (18) (10)
Investment sales and other transactions (1) (104) 99
Net cash used in investing activities (1,175) (1,764) (1,658)
Cash flows from financing activities:      
Dividends (960) (949) (844)
Common Stock transactions 69 27 40
Purchase and retirement of Common Stock (1,439) (2,099) (2,781)
Proceeds from borrowings – net of issuance costs 784 2,192 2,023
Debt repayments (381) (1,188) (750)
Other 0 23 0
Net cash used in financing activities (1,927) (1,994) (2,312)
Net increase (decrease) in cash, cash equivalents, and restricted cash 535 134 (244)
Cash, cash equivalents, and restricted cash:      
At beginning of year 580 446 690
At end of year 1,115 580 446
Supplemental disclosures of cash flow information:      
Interest (net of amounts capitalized) 577 555 496
Income taxes (net of refunds) $ 311 $ 543 $ 519