Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities
Net income	$ 3,035	$ 2,767
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,247	1,231
Deferred income taxes	(62)	143
Long-term casualty and environmental liabilities, net	(9)	8
Other, net	(106)	(81)
Changes in current assets and liabilities:
Accounts receivable, net	(239)	(99)
Materials and supplies	(198)	(75)
Other current assets	5	(42)
Accounts payable and other current liabilities	88	(77)
Net cash provided by operating activities	3,761	3,775
Investing Activities
Capital expenditures excluding equipment	(1,402)	(1,220)
Acquisition of equipment	(39)	(69)
Proceeds from sales of investments and maturities of time deposits	0	1
Other, net	(149)	(59)
Net cash used in investing activities	(1,590)	(1,347)
Financing Activities
Proceeds from issuance of long-term debt	1,000	925
Payments on long-term debt and finance leases	(831)	(886)
Cash distributions	(2,100)	(2,400)
Other, net	(14)	(10)
Net cash used in financing activities	(1,945)	(2,371)
Increase (decrease) in cash and cash equivalents	226	57
Cash and cash equivalents:
Beginning of period	1,758	1,986
End of period	1,984	2,043
Supplemental Cash Flow Information
Interest paid, net of amounts capitalized	516	518
Capital investments accrued but not yet paid	205	159
Income taxes paid, net of refunds	934	738
Non-cash asset financing	$ 3	$ 7