v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net income $ 2,680 $ 2,370
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,358 1,327
Deferred income taxes (69) 60
Other, net (179) (86)
Changes in current assets and liabilities:    
Accounts receivable, net 57 53
Materials and supplies (11) (17)
Other current assets 129 42
Accounts payable and other current liabilities (386) (570)
Net cash provided by operating activities 3,579 3,179
Investing Activities    
Capital expenditures excluding equipment (1,469) (1,524)
Acquisition of equipment (129) (232)
Purchases of investments and investments in time deposits (1) (29)
Other, net (60) (130)
Net cash used in investing activities (1,659) (1,915)
Financing Activities    
Proceeds from issuance of long-term debt 900 1,300
Payments on long-term debt and finance leases (531) (530)
Cash distributions (2,200) (2,100)
Other, net (12) (16)
Net cash used in financing activities (1,843) (1,346)
Increase (decrease) in cash and cash equivalents 77 (82)
Cash and cash equivalents:    
Beginning of period 2,004 2,148
End of period 2,081 2,066
Supplemental Cash Flow Information    
Interest paid, net of amounts capitalized 561 529
Capital investments accrued but not yet paid 163 184
Income taxes paid, net of refunds $ 885 $ 731