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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net income $ 5,919 $ 5,966 $ 10,712
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 2,216 2,191 2,105
Deferred and other income taxes 566 338 (5,067)
Net gain on non-operating asset dispositions (20) (30) (111)
Other operating activities, net 98 347 (282)
Changes in current assets and liabilities:      
Accounts receivable, net 160 (262) (235)
Materials and supplies (9) 7 (32)
Other current assets 87 (24) 9
Accounts payable and other current liabilities (179) (125) 182
Income and other taxes (229) 278 (51)
Cash provided by operating activities 8,609 8,686 7,230
Investing Activities      
Capital investments (3,453) (3,437) (3,238)
Maturities of short-term investments (Note 14) 130 90 90
Purchases of short-term investments (Note 14) (115) (90) (120)
Proceeds from asset sales 74 63 168
Other investing activities, net (71) (37) 14
Cash used in investing activities (3,435) (3,411) (3,086)
Financing Activities      
Common share repurchases (Note 19) (5,804) (8,225) (4,013)
Debt issued 3,986 6,892 2,735
Dividends paid (2,598) (2,299) (1,982)
Debt repaid (817) (1,736) (840)
Debt exchange (387)
Net issuance of commercial paper (6) 194  
Other financing activities, net (20) (48) (46)
Cash used in financing activities (5,646) (5,222) (4,146)
Net change in cash, cash equivalents and restricted cash (472) 53 (2)
Cash, cash equivalents, and restricted cash at beginning of year 1,328 1,275 1,277
Cash, cash equivalents, and restricted cash at end of year 856 1,328 1,275
Non-cash investing and financing activities:      
Term loan renewals 250 250  
Capital investments accrued but not yet paid 224 205 366
Locomotives sold for material credits 18    
Finance lease financings 12 19
Cash paid during the year for:      
Income taxes, net of refunds (1,382) (1,205) (2,112)
Interest, net of amounts capitalized $ (1,033) $ (728) $ (666)