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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES        
Net income $ 344 $ 506 $ 943 $ 981
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     1,635 2,191
Deferred income taxes     249 279
Provision for uncollectible accounts     56 53
Net gain on early retirement of debt     0 (8)
Stock-based compensation 25 42 48 62
Changes in current assets and liabilities:        
Accounts receivable     32 4
Accounts payable     79 (181)
Accrued income and other taxes     13 (29)
Other current assets and liabilities, net     (430) (208)
Retirement benefits     (86) (131)
Changes in other noncurrent assets and liabilities, net     136 120
Other, net     96 31
Net cash provided by operating activities     2,771 3,164
INVESTING ACTIVITIES        
Capital expenditures     (1,338) (1,362)
Proceeds from sale of property, plant and equipment and other assets     65 66
Other, net     3 1
Net cash used in investing activities     (1,270) (1,295)
FINANCING ACTIVITIES        
Net proceeds from issuance of long-term debt     0 1,881
Payments of long-term debt     (1,532) (2,464)
Net proceeds from (payments on) revolving line of credit     600 (150)
Dividends paid     (525) (568)
Other, net     (32) (49)
Net cash used in financing activities     (1,489) (1,350)
Net increase in cash, cash equivalents and restricted cash     12 519
Cash, cash equivalents and restricted cash at beginning of period     409 427
Cash, cash equivalents and restricted cash at end of period 421 946 421 946
Supplemental cash flow information:        
Income taxes paid, net     (58) (73)
Interest paid (net of capitalized interest of $32 and $26)     (699) (744)
Cash, cash equivalents and restricted cash:        
Cash and cash equivalents 360 935 360 935
Cash and cash equivalents included in Assets held for sale 48 0 48 0
Restricted cash included in Other current assets 1 2 1 2
Restricted cash included in Other, net noncurrent assets 12 9 12 9
Total $ 421 $ 946 $ 421 $ 946