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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 790 $ 822
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 672 642
Deferred income taxes 5 (35)
Gains and losses on properties (25) (25)
Changes in assets and liabilities affecting operations:    
Accounts receivable (43) 57
Materials and supplies (44) (19)
Other current assets 57 36
Current liabilities other than debt 596 460
Other – net (133) (92)
Net cash provided by operating activities 1,875 1,846
Cash flows from investing activities    
Property additions (1,125) (948)
Acquisition of assets of CSR (1,643) 0
Property sales and other transactions 70 61
Investment purchases (206) (6)
Investment sales and other transactions 337 152
Net cash used in investing activities (2,567) (741)
Cash flows from financing activities    
Dividends (610) (615)
Common stock transactions (5) (9)
Purchase and retirement of common stock 0 (303)
Proceeds from borrowings 600 724
Debt repayments (202) (802)
Net cash used in financing activities (217) (1,005)
Net increase (decrease) in cash and cash equivalents (909) 100
Cash and cash equivalents    
At beginning of year 1,568 456
At end of period 659 556
Supplemental disclosures of cash flow information    
Interest (net of amounts capitalized) 373 318
Income taxes (net of refunds) $ 107 $ 315