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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net income $ 5,161 $ 5,481 $ 5,219
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 2,476 2,403 2,317
Deferred income taxes 289 553 381
Long-term casualty and environmental liabilities, net (19) (49) (18)
Other, net (108) (351) (147)
Changes in current assets and liabilities:      
Accounts receivable, net 122 134 (48)
Materials and supplies (14) 4 10
Other current assets 20 (110) (52)
Accounts payable and other current liabilities (27) 122 246
Net cash provided by operating activities 7,900 8,187 7,908
Investing Activities      
Capital expenditures excluding equipment (2,819) (3,193) (2,918)
Acquisition of equipment (244) (415) (269)
Purchases of investments and investments in time deposits 0 (6) (27)
Proceeds from sales of investments and maturities of time deposits 32 42 45
Other, net (32) (170) (11)
Net cash used for investing activities (3,063) (3,742) (3,180)
Financing Activities      
Proceeds from issuance of long-term debt 575 825 1,500
Payments on long-term debt and finance leases (570) (833) (746)
Cash distributions (4,830) (4,425) (5,450)
Other, net (10) (13) (22)
Net cash used for financing activities (4,835) (4,446) (4,718)
Increase (decrease) in cash and cash equivalents 2 (1) 10
Cash and cash equivalents:      
Beginning of period 1,984 1,985 1,975
End of period 1,986 1,984 1,985
Supplemental Cash Flow Information      
Interest paid, net of amounts capitalized 1,045 1,064 1,072
Capital investments accrued but not yet paid 156 245 251
Income taxes paid, net of refunds 1,278 1,196 905
Non-cash asset financing $ 19 $ 11 $ 8