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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 750 $ 53
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 346 337
Deferred income taxes 57 (26)
Gains and losses on properties (23) (1)
Changes in assets and liabilities affecting operations:    
Accounts receivable (165) (51)
Materials and supplies 4 (6)
Other current assets 31 33
Current liabilities other than debt 22 560
Other – net (72) (60)
Net cash provided by operating activities 950 839
Cash flows from investing activities    
Property additions (449) (557)
Acquisition of assets of CSR 0 (1,642)
Property sales and other transactions 18 32
Investment purchases (609) (1)
Investment sales and other transactions 19 324
Net cash used in investing activities (1,021) (1,844)
Cash flows from financing activities    
Dividends (306) (305)
Common stock transactions (9) (6)
Purchase and retirement of common stock (248) 0
Proceeds from borrowings 0 400
Debt repayments (1) 0
Net cash provided by (used in) financing activities (564) 89
Net decrease in cash and cash equivalents (635) (916)
Cash and cash equivalents    
At beginning of year 1,641 1,568
At end of period 1,006 652
Supplemental disclosures of cash flow information    
Interest (net of amounts capitalized) 192 182
Income taxes (net of refunds) $ 1 $ (2)