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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 1,214 $ 1,143
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 675 661
Deferred income taxes 12 45
Other, net (153) (64)
Changes in current assets and liabilities:    
Accounts receivable, net (44) 95
Materials and supplies 31 20
Other current assets 113 (26)
Accounts payable and other current liabilities 99 (183)
Net cash provided by operating activities 1,947 1,691
Investing Activities    
Capital expenditures excluding equipment (621) (647)
Acquisition of equipment (31) (75)
Purchases of investments and investments in time deposits 0 (23)
Other, net (66) (104)
Net cash used in investing activities (718) (849)
Financing Activities    
Payments on long-term debt and finance leases (2) (6)
Cash distributions (700) (500)
Net cash used in financing activities (702) (506)
Increase (decrease) in cash and cash equivalents 527 336
Cash and cash equivalents:    
Beginning of period 2,004 2,148
End of period 2,531 2,484
Supplemental Cash Flow Information    
Interest paid, net of amounts capitalized 311 269
Capital investments accrued but not yet paid 131 149
Income taxes paid, net of refunds $ 2 $ 2