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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 1,889 $ 1,300
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 1,011 968
Deferred income taxes 141 (53)
Gains and losses on properties (425) (34)
Changes in assets and liabilities affecting operations:    
Accounts receivable (156) (65)
Materials and supplies (24) (50)
Other current assets 80 37
Current liabilities other than debt 774 538
Other – net (189) (135)
Net cash provided by operating activities 3,101 2,506
Cash flows from investing activities    
Property additions (1,706) (1,491)
Acquisition of assets of CSR (1,643) (5)
Property sales and other transactions 527 62
Investment purchases (318) (120)
Investment sales and other transactions 349 160
Net cash used in investing activities (2,791) (1,394)
Cash flows from financing activities    
Dividends (915) (920)
Common stock transactions 15 (9)
Purchase and retirement of common stock 0 (503)
Proceeds from borrowings 1,051 2,303
Debt repayments (1,054) (933)
Net cash used in financing activities (903) (62)
Net increase (decrease) in cash and cash equivalents (593) 1,050
Cash and cash equivalents    
At beginning of year 1,568 456
At end of period 975 1,506
Supplemental disclosures of cash flow information    
Interest (net of amounts capitalized) 571 451
Income taxes (net of refunds) $ 284 $ 521