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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 773 $ 1,399
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 574 567
Deferred income taxes 56 133
Gains and losses on properties (11) (7)
Loss on asset disposal 385 0
Changes in assets and liabilities affecting operations:    
Accounts receivable 98 (30)
Materials and supplies (13) (49)
Other current assets 30 55
Current liabilities other than debt 0 (30)
Other – net (134) (86)
Net cash provided by operating activities 1,758 1,952
Cash flows from investing activities:    
Property additions (735) (979)
Property sales and other transactions 258 214
Investment purchases (5) (12)
Investment sales and other transactions (58) (75)
Net cash used in investing activities (540) (852)
Cash flows from financing activities:    
Dividends (482) (458)
Common stock transactions 26 18
Purchase and retirement of common stock (669) (1,050)
Proceeds from borrowings 784 1,054
Debt repayments (314) (750)
Net cash used in financing activities (655) (1,186)
Net increase (decrease) in cash, cash equivalents, and restricted cash 563 (86)
Cash, cash equivalents, and restricted cash:    
At beginning of year 580 446
At end of period 1,143 360
Supplemental disclosures of cash flow information:    
Interest (net of amounts capitalized) 287 271
Income taxes (net of refunds) $ 1 $ 215