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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Cash flows from operating activities      
Net income $ 673 $ 381  
Reconciliation of net income to net cash provided by operating activities:      
Depreciation 292 292  
Deferred income taxes 52 11  
Gains and losses on properties (8) (8)  
Loss on asset disposal 0 385  
Changes in assets and liabilities affecting operations:      
Accounts receivable (95) 32  
Materials and supplies (20) (21)  
Other current assets 9 (33)  
Current liabilities other than debt 158 (40)  
Other – net (46) (44)  
Net cash provided by operating activities 1,015 955  
Cash flows from investing activities      
Property additions (265) (366)  
Property sales and other transactions 37 158  
Investment sales and other transactions 26 (25)  
Net cash used in investing activities (202) (233)  
Cash flows from financing activities      
Dividends (249) (242)  
Common stock transactions (6) 14  
Purchase and retirement of common stock (591) (466)  
Debt repayments (84) 0  
Net cash used in financing activities (930) (694)  
Net increase (decrease) in cash and cash equivalents (117) 28  
Cash and cash equivalents      
At beginning of year 1,115 580 $ 580
At end of period 998 608 $ 1,115
Supplemental disclosures of cash flow information      
Interest (net of amounts capitalized) 110 121  
Income taxes (net of refunds) $ 27 $ 16