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CONSOLIDATED CASH FLOW STATEMENTS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES      
Net Earnings $ 2,889 $ 3,470 $ 3,668
Adjustments to Reconcile Net Earnings to Net Cash      
Depreciation and Amortization 1,680 1,658 1,607
Goodwill Impairment (Note 18) 164 108 0
Deferred Income Taxes 194 12 126
Other Operating Activities (70) (75) (41)
Changes in Operating Assets and Liabilities:      
Accounts Receivable 88 82 (51)
Other Current Assets (87) 45 (112)
Accounts Payable 40 3 74
Income and Other Taxes Payable (399) (19) 430
Other Current Liabilities 114 (37) (187)
Net Cash Provided by Operating Activities 4,613 5,247 5,514
INVESTING ACTIVITIES      
Property Additions (2,902) (2,529) (2,257)
Purchases of Short-term Investments 0 (66) (104)
Proceeds from Sales of Short-term Investments 80 91 153
Proceeds and Advances from Property Dispositions 78 66 88
Business Acquisition, Net of Cash Acquired (16) (70) (31)
Other Investing Activities (91) (97) (76)
Net Cash Used in Investing Activities (2,851) (2,605) (2,227)
FINANCING ACTIVITIES      
Shares Repurchased (1,396) (2,237) (3,482)
Dividends Paid (972) (930) (882)
Long-term Debt Repaid (613) (558) (153)
Long-term Debt Issued (Note 10) 900 550 600
Other Financing Activities 56 113 50
Net Cash Used in Financing Activities (2,025) (3,062) (3,867)
Net Decrease in Cash and Cash Equivalents (263) (420) (580)
CASH AND CASH EQUIVALENTS      
Cash and Cash Equivalents at Beginning of Period 933 1,353 1,933
Cash and Cash Equivalents at End of Period 670 933 1,353
SUPPLEMENTAL CASH FLOW INFORMATION      
Interest Paid - Net of Amounts Capitalized 870 850 806
Income Taxes Paid (Note 12) 1,102 1,076 630
Capital Expenditures Accrued but Not Yet Paid $ 231 $ 247 $ 186