v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating activities        
Net income $ 1,993 $ 1,876 $ 3,694 $ 3,502
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation 638 613 1,271 1,223
Deferred and other income taxes     93 (123)
Other operating activities, net     6 (43)
Changes in current assets and liabilities:        
Accounts receivable, net     (270) (21)
Materials and supplies     (132) (5)
Other current assets     (26) (49)
Accounts payable and other current liabilities     52 (203)
Income and other taxes     828 262
Cash provided by operating activities     5,516 4,543
Investing activities        
Capital investments     (1,810) (1,842)
Other investing activities, net     (254) 3
Cash used in investing activities     (2,064) (1,839)
Financing activities        
Dividends paid     (1,640) (1,599)
Debt repaid     (1,506) (409)
Share repurchase programs (Note 16)     (26) (2,679)
Debt issued (Note 14)     0 1,995
Other financing activities, net     63 43
Cash used in financing activities     (3,109) (2,649)
Net change in cash, cash equivalents, and restricted cash     343 55
Cash, cash equivalents, and restricted cash at beginning of year     1,280 1,028
Cash, cash equivalents, and restricted cash at end of period 1,623 1,083 1,623 1,083
Non-cash investing and financing activities:        
Capital investments accrued but not yet paid     140 157
Cash paid during the period for:        
Income taxes, net of refunds     (236) (785)
Interest, net of amounts capitalized     (638) (610)
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Statement of Financial Position:        
Cash and cash equivalents 1,614 1,060 1,614 1,060
Restricted cash equivalents in other current assets 2 18 2 18
Restricted cash equivalents in other assets 7 5 7 5
Total cash, cash equivalents, and restricted cash equivalents per above $ 1,623 $ 1,083 $ 1,623 $ 1,083