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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 1,522 $ 1,492
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 606 586
Deferred income taxes 111 107
Gains and losses on properties (37) (75)
Changes in assets and liabilities affecting operations:    
Accounts receivable (230) (96)
Materials and supplies (71) (25)
Other current assets 30 30
Current liabilities other than debt 75 170
Other – net 5 (92)
Net cash provided by operating activities 2,011 2,097
Cash flows from investing activities    
Property additions (837) (627)
Property sales and other transactions 100 66
Investment purchases (7) (5)
Investment sales and other transactions 30 37
Net cash used in investing activities (714) (529)
Cash flows from financing activities    
Dividends (591) (496)
Common stock transactions (14) 6
Purchase and retirement of common stock (1,454) (1,525)
Proceeds from borrowings 1,732 1,087
Debt repayments (550) (85)
Net cash used in financing activities (877) (1,013)
Net increase in cash and cash equivalents 420 555
Cash and cash equivalents    
At beginning of year 839 1,115
At end of period 1,259 1,670
Supplemental disclosures of cash flow information    
Interest (net of amounts capitalized) 294 281
Income taxes (net of refunds) $ 321 $ 249