v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 547 $ 750
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 352 346
Deferred income taxes 48 57
Gains and losses on properties (17) (23)
Changes in assets and liabilities affecting operations:    
Accounts receivable (135) (165)
Materials and supplies (41) 4
Other current assets 45 31
Current liabilities other than debt (388) 22
Other – net (67) (72)
Net cash provided by operating activities 344 950
Cash flows from investing activities    
Property additions (382) (449)
Property sales and other transactions 162 18
Investment purchases (3) (609)
Investment sales and other transactions 10 19
Net cash used in investing activities (213) (1,021)
Cash flows from financing activities    
Dividends (303) (306)
Common stock transactions (11) (9)
Purchase and retirement of common stock (5) (248)
Debt repayments (1) (1)
Net cash used in financing activities (320) (564)
Net decrease in cash and cash equivalents (189) (635)
Cash and cash equivalents    
At beginning of year 1,530 1,641
At end of period 1,341 1,006
Supplemental disclosures of cash flow information    
Interest (net of amounts capitalized) 185 192
Income taxes (net of refunds) $ 138 $ 1