Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Union Pacific Corp., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	6,379)	6,998)	6,523)	5,349)	5,919)
Depreciation	2,318)	2,246)	2,208)	2,210)	2,216)
Deferred and other income taxes	117)	262)	154)	340)	566)
Other operating activities, net	(132)	(152)	(56)	375)	78)
Accounts receivable, net	(177)	(169)	(217)	90)	160)
Materials and supplies	(2)	(120)	17)	113)	(9)
Other current assets	(38)	5)	31)	(34)	87)
Accounts payable and other current liabilities	(215)	565)	184)	(73)	(179)
Income and other taxes	129)	(273)	188)	170)	(229)
Changes in current assets and liabilities	(303)	8)	203)	266)	(170)
Adjustments to reconcile net income to cash provided by operating activities	2,000)	2,364)	2,509)	3,191)	2,690)
Cash provided by operating activities	8,379)	9,362)	9,032)	8,540)	8,609)
Capital investments	(3,606)	(3,620)	(2,936)	(2,927)	(3,453)
Other investing activities, net	(61)	149)	227)	251)	18)
Cash used in investing activities	(3,667)	(3,471)	(2,709)	(2,676)	(3,435)
Dividends paid	(3,173)	(3,159)	(2,800)	(2,626)	(2,598)
Debt repaid	(2,190)	(2,291)	(1,299)	(2,053)	(817)
Debt issued	1,599)	6,080)	4,201)	4,004)	3,986)
Share repurchase programs	(705)	(6,282)	(7,291)	(3,705)	(5,804)
Other financing activities, net	(156)	(235)	31)	(522)	(413)
Cash used in financing activities	(4,625)	(5,887)	(7,158)	(4,902)	(5,646)
Net change in cash, cash equivalents, and restricted cash	87)	4)	(835)	962)	(472)
Cash, cash equivalents, and restricted cash at beginning of year	987)	983)	1,818)	856)	1,328)
Cash, cash equivalents, and restricted cash at end of year	1,074)	987)	983)	1,818)	856)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Union Pacific Corp. cash provided by operating activities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Union Pacific Corp. cash used in investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Union Pacific Corp. cash used in financing activities increased from 2021 to 2022 and from 2022 to 2023.

Union Pacific Corp. (NYSE:UNP)

Cash Flow Statement