Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF CONSOLIDATED CASH FLOWS

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STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows From Operating Activities:      
Net Income $ 1,343 $ 4,440 $ 4,791
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 2,698 2,360 2,207
Pension and postretirement benefit expense 7,125 3,141 2,242
Pension and postretirement benefit contributions (3,125) (2,362) (186)
Self-insurance reserves 503 (185) (86)
Deferred tax (benefit) expense (858) 100 758
Stock compensation expense 796 915 634
Other (gains) losses 917 74 293
Changes in assets and liabilities, net of effect of acquisitions:      
Accounts receivable (1,562) (717) (421)
Other assets 218 698 754
Accounts payable 904 419 1,034
Accrued wages and withholdings 1,631 (446) 505
Other liabilities (110) 182 170
Other operating activities (21) 20 16
Net cash from operating activities 10,459 8,639 12,711
Cash Flows From Investing Activities:      
Capital expenditures (5,412) (6,380) (6,283)
Proceeds from disposals of property, plant and equipment 40 65 37
Purchases of marketable securities (254) (561) (973)
Sales and maturities of marketable securities 360 883 886
Net change in finance receivables 44 13 4
Cash paid for business acquisitions, net of cash and cash equivalents acquired (20) (6) (2)
Other investing activities (41) (75) 1
Net cash (used in) investing activities (5,283) (6,061) (6,330)
Cash Flows From Financing Activities:      
Net change in short-term debt (2,462) 310 63
Proceeds from long-term borrowings 5,003 5,205 1,202
Repayments of long-term borrowings (3,392) (3,096) (2,887)
Purchases of common stock (224) (1,004) (1,011)
Issuances of common stock 285 218 240
Dividends (3,374) (3,194) (3,011)
Other financing activities (353) (166) (288)
Net cash (used in) financing activities (4,517) (1,727) (5,692)
Effect Of Exchange Rate Changes On Cash, Cash Equivalents and Restricted Cash 13 20 (91)
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash 672 871 598
Cash And Cash Equivalents:      
Beginning of period 5,238 4,367 3,769
End of period 5,910 5,238 4,367
Cash Paid During The Period For:      
Interest (net of amount capitalized) 691 628 595
Income taxes (net of refunds and overpayments) $ 1,138 $ 514 $ 2