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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 1,143 $ 1,247
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 661 647
Deferred income taxes 45 71
Other, net (64) (47)
Changes in current assets and liabilities:    
Accounts receivable, net 95 (19)
Materials and supplies 20 18
Other current assets (26) (35)
Accounts payable and other current liabilities (183) (431)
Net cash provided by operating activities 1,691 1,451
Investing Activities    
Capital expenditures excluding equipment (647) (679)
Acquisition of equipment (75) (16)
Purchases of investments and investments in time deposits (23) (15)
Other, net (104) (134)
Net cash used in investing activities (849) (844)
Financing Activities    
Payments on long-term debt and finance leases (6) (708)
Cash distributions (500) 0
Net cash used in financing activities (506) (708)
Increase (decrease) in cash and cash equivalents 336 (101)
Cash and cash equivalents:    
Beginning of period 2,148 1,938
End of period 2,484 1,837
Supplemental Cash Flow Information    
Interest paid, net of amounts capitalized 269 300
Capital investments accrued but not yet paid 149 172
Income taxes paid, net of refunds $ 2 $ 8