Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating Activities
Net income	$ 3,668	$ 4,057
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,848	1,788
Deferred income taxes	272	423
Long-term casualty and environmental liabilities, net	(11)	(35)
Other, net	(95)	(314)
Changes in current assets and liabilities:
Accounts receivable, net	141	(80)
Materials and supplies	66	34
Other current assets	(2)	(147)
Accounts payable and other current liabilities	(385)	71
Net cash provided by operating activities	5,502	5,797
Investing Activities
Capital expenditures excluding equipment	(2,300)	(2,363)
Acquisition of equipment	(181)	(181)
Purchases of investments and investments in time deposits	0	(6)
Proceeds from sales of investments and maturities of time deposits	30	19
Other, net	10	(37)
Net cash used in investing activities	(2,441)	(2,568)
Financing Activities
Proceeds from issuance of long-term debt	575	825
Payments on long-term debt and finance leases	(541)	(54)
Cash distributions	(3,100)	(3,400)
Other, net	(10)	(13)
Net cash used in financing activities	(3,076)	(2,642)
(Decrease) increase in cash and cash equivalents	(15)	587
Cash and cash equivalents:
Beginning of period	1,984	1,985
End of period	1,969	2,572
Supplemental Cash Flow Information
Interest paid, net of amounts capitalized	827	815
Capital investments accrued but not yet paid	199	227
Income taxes paid, net of refunds	947	959
Non-cash asset financing	$ 14	$ 8