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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 1,342 $ 2,056
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 867 854
Deferred income taxes 78 225
Gains and losses on properties (14) (4)
Loss on asset disposal 385 0
Impairment of investment 99 0
Changes in assets and liabilities affecting operations:    
Accounts receivable 36 34
Materials and supplies (3) (59)
Other current assets 55 40
Current liabilities other than debt 104 (72)
Other – net (182) (77)
Net cash provided by operating activities 2,767 2,997
Cash flows from investing activities:    
Property additions (1,053) (1,494)
Property sales and other transactions 291 282
Investment purchases (6) (12)
Investment sales and other transactions (50) (99)
Net cash used in investing activities (818) (1,323)
Cash flows from financing activities:    
Dividends (722) (705)
Common stock transactions 53 21
Purchase and retirement of common stock (960) (1,550)
Proceeds from borrowings – net of issuance costs 784 1,404
Debt repayments (325) (750)
Net cash used in financing activities (1,170) (1,580)
Net increase in cash, cash equivalents, and restricted cash 779 94
Cash, cash equivalents, and restricted cash:    
At beginning of year 580 446
At end of period 1,359 540
Supplemental disclosures of cash flow information:    
Interest (net of amounts capitalized) 395 392
Income taxes (net of refunds) $ 118 $ 404