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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 1,641 $ 1,630
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 594 572
Deferred and other income taxes 23 52
Other operating activities, net (80) (117)
Changes in current assets and liabilities:    
Accounts receivable, net (89) (59)
Materials and supplies (27) 13
Other current assets (55) (73)
Accounts payable and other current liabilities (220) (437)
Income and other taxes 335 259
Cash provided by operating activities 2,122 1,840
Investing Activities    
Capital investments (797) (772)
Other investing activities, net (5) (33)
Cash used in investing activities (802) (805)
Financing Activities    
Debt repaid (1,358) (647)
Dividends paid (795) (795)
Debt issued (Note 13) 400 1,199
Net issued/(paid) commercial paper (Note 13) 296 (102)
Share repurchase programs (Note 15) 0 (575)
Other financing activities, net 6 (7)
Cash used in financing activities (1,451) (927)
Net change in cash, cash equivalents, and restricted cash (131) 108
Cash, cash equivalents, and restricted cash at beginning of year 1,074 987
Cash, cash equivalents, and restricted cash at end of period 943 1,095
Non-cash investing and financing activities:    
Capital investments accrued but not yet paid 135 156
Common shares repurchased but not yet paid 5 15
Cash paid during the period for:    
Income taxes, net of refunds (46) (35)
Interest, net of amounts capitalized (463) (454)
Cash and cash equivalents 925 1,079
Restricted cash equivalents in other current assets 10 7
Restricted cash equivalents in other assets 8 9
Total cash, cash equivalents and restricted cash equivalents per above $ 943 $ 1,095