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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income $ 2,511 $ 3,035
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,300 1,247
Deferred income taxes 111 (62)
Other, net (81) (115)
Changes in current assets and liabilities:    
Accounts receivable, net 72 (239)
Materials and supplies 17 (198)
Other current assets (21) 5
Accounts payable and other current liabilities (812) 88
Net cash provided by operating activities 3,097 3,761
Investing Activities    
Capital expenditures excluding equipment (1,605) (1,402)
Acquisition of equipment (72) (39)
Purchases of investments and investments in time deposits (21) 0
Other, net (176) (149)
Net cash used in investing activities (1,874) (1,590)
Financing Activities    
Proceeds from issuance of long-term debt 1,600 1,000
Payments on long-term debt and finance leases (737) (831)
Cash distributions (1,100) (2,100)
Other, net (13) (14)
Net cash used in financing activities (250) (1,945)
Increase (decrease) in cash and cash equivalents 973 226
Cash and cash equivalents:    
Beginning of period 1,938 1,758
End of period 2,911 1,984
Supplemental Cash Flow Information    
Interest paid, net of amounts capitalized 517 516
Capital investments accrued but not yet paid 362 205
Income taxes paid, net of refunds 825 934
Non-cash asset financing $ 0 $ 3