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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 703 $ 673
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 302 292
Deferred income taxes 48 52
Gains and losses on properties (6) (8)
Changes in assets and liabilities affecting operations:    
Accounts receivable (94) (95)
Materials and supplies (46) (20)
Other current assets 21 9
Current liabilities other than debt 83 158
Other – net (17) (46)
Net cash provided by operating activities 994 1,015
Cash flows from investing activities    
Property additions (389) (265)
Property sales and other transactions 36 37
Investment purchases (1) 0
Investment sales and other transactions 19 26
Net cash used in investing activities (335) (202)
Cash flows from financing activities    
Dividends (297) (249)
Common stock transactions (18) (6)
Purchase and retirement of common stock (600) (591)
Proceeds from borrowings 989 0
Debt repayments (1) (84)
Net cash provided by (used in) financing activities 73 (930)
Net increase (decrease) in cash and cash equivalents 732 (117)
Cash and cash equivalents    
At beginning of year 839 1,115
At end of period 1,571 998
Supplemental disclosures of cash flow information    
Interest (net of amounts capitalized) 114 110
Income taxes (net of refunds) $ 9 $ 27