v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Operating activities        
Net income $ 2,076 $ 1,788 $ 5,770 $ 5,290
Adjustments to reconcile net income to cash provided by operating activities:        
Depreciation 643 618 1,914 1,841
Deferred and other income taxes     207 172
Other operating activities, net     32 6
Changes in current assets and liabilities:        
Accounts receivable, net     (280) (27)
Materials and supplies     (198) (13)
Other current assets     19 1
Accounts payable and other current liabilities     22 (324)
Income and other taxes     816 119
Cash provided by operating activities     8,302 7,065
Investing activities        
Capital investments     (2,834) (2,792)
Purchases of short-term investments     (975) 0
Maturities of short-term investments     350 0
Other investing activities, net     3 1
Cash used in investing activities     (3,456) (2,791)
Financing activities        
Dividends paid     (2,484) (2,418)
Debt repaid     (1,519) (1,424)
Share repurchase programs (Note 16)     (26) (2,679)
Debt issued (Note 14)     0 1,995
Other financing activities, net     121 54
Cash used in financing activities     (3,908) (4,472)
Net change in cash, cash equivalents, and restricted cash     938 (198)
Cash, cash equivalents, and restricted cash at beginning of year     1,280 1,028
Cash, cash equivalents, and restricted cash at end of period 2,218 830 2,218 830
Non-cash investing and financing activities:        
Capital investments accrued but not yet paid     198 190
Cash paid during the period for:        
Income taxes, net of refunds     (340) (841)
Interest, net of amounts capitalized     (1,070) (1,083)
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Statement of Financial Position:        
Cash and cash equivalents 2,211 808 2,211 808
Restricted cash equivalents in other current assets 1 17 1 17
Restricted cash equivalents in other assets 6 5 6 5
Total cash, cash equivalents, and restricted cash equivalents per above $ 2,218 $ 830 $ 2,218 $ 830