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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 1,827 $ 3,270 $ 3,005
Reconciliation of net income to net cash provided by operating activities:      
Depreciation 1,298 1,221 1,181
Deferred income taxes (49) 83 184
Gains and losses on properties (49) (82) (86)
Changes in assets and liabilities affecting operations:      
Accounts receivable (2) (171) (133)
Materials and supplies (11) (35) 3
Other current assets (54) (18) (6)
Current liabilities other than debt 435 23 283
Other – net (216) (69) (176)
Net cash provided by operating activities 3,179 4,222 4,255
Cash flows from investing activities      
Property additions (2,349) (1,948) (1,470)
Property sales and other transactions 86 263 159
Investment purchases (124) (12) (10)
Investment sales and other transactions 205 94 99
Net cash used in investing activities (2,182) (1,603) (1,222)
Cash flows from financing activities      
Dividends (1,225) (1,167) (1,028)
Common Stock transactions 3 (4) 17
Purchase and retirement of Common Stock (622) (3,110) (3,390)
Proceeds from borrowings 3,293 1,832 1,676
Debt repayments (1,334) (553) (584)
Net cash provided by (used in) financing activities 115 (3,002) (3,309)
Net increase (decrease) in cash and cash equivalents 1,112 (383) (276)
Cash and cash equivalents      
At beginning of year 456 839 1,115
At end of year 1,568 456 839
Supplemental disclosures of cash flow information      
Interest (net of amounts capitalized) 653 619 579
Income taxes (net of refunds) $ 681 $ 750 $ 654