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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 53 $ 466
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 337 321
Deferred income taxes (26) (15)
Gains and losses on properties (1) (4)
Changes in assets and liabilities affecting operations:    
Accounts receivable (51) (22)
Materials and supplies (6) (9)
Other current assets 33 12
Current liabilities other than debt 560 480
Other – net (60) (56)
Net cash provided by operating activities 839 1,173
Cash flows from investing activities    
Property additions (557) (428)
Acquisition of assets of CSR (1,642) 0
Property sales and other transactions 32 20
Investment purchases (1) 0
Investment sales and other transactions 324 17
Net cash used in investing activities (1,844) (391)
Cash flows from financing activities    
Dividends (305) (307)
Common stock transactions (6) (10)
Purchase and retirement of common stock 0 (163)
Proceeds from borrowings 400 594
Debt repayments 0 (800)
Net cash provided by (used in) financing activities 89 (686)
Net increase (decrease) in cash and cash equivalents (916) 96
Cash and cash equivalents    
At beginning of year 1,568 456
At end of period 652 552
Supplemental disclosures of cash flow information    
Interest (net of amounts capitalized) 182 129
Income taxes (net of refunds) $ (2) $ (1)