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, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities:      
Net Income $ 4,910 $ 3,431 $ 4,844
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 2,282 2,224 2,084
Pension and postretirement benefit expense 1,643 3,725 1,189
Pension and postretirement benefit contributions (7,794) (2,668) (1,229)
Self-insurance reserves 0 (21) (80)
Deferred tax expense 1,230 123 540
Stock compensation expense 584 591 574
Other (gains) losses 37 (198) (185)
Changes in assets and liabilities, net of effect of acquisitions:      
Accounts receivable (1,022) (704) (452)
Other assets (982) (14) 414
Accounts payable 592 461 (147)
Accrued wages and withholdings 193 109 (63)
Other liabilities (241) (561) (6)
Other operating activities 47 (25) (53)
Net cash from operating activities 1,479 6,473 7,430
Cash Flows From Investing Activities:      
Capital expenditures (5,227) (2,965) (2,379)
Proceeds from disposals of property, plant and equipment 24 88 26
Purchases of marketable securities (1,634) (4,816) (7,415)
Sales and maturities of marketable securities 1,990 5,724 6,388
Net decrease in finance receivables 5 9 5
Cash paid for business acquisitions (134) (547) (1,904)
Other investing activities 1 (59) (30)
Net cash used in investing activities (4,975) (2,566) (5,309)
Cash Flows From Financing Activities:      
Net change in short-term debt (250) (88) 2,529
Proceeds from long-term borrowings 12,016 5,927 3,783
Repayments of long-term borrowings (3,939) (3,805) (2,724)
Purchases of common stock (1,813) (2,678) (2,702)
Issuances of common stock 247 245 249
Dividends (2,771) (2,643) (2,525)
Other financing activities (203) (98) (175)
Net cash used in financing activities 3,287 (3,140) (1,565)
Effect Of Exchange Rate Changes On Cash And Cash Equivalents 53 (21) (117)
Net Increase (Decrease) In Cash And Cash Equivalents (156) 746 439
Cash And Cash Equivalents:      
Beginning of period 3,476 2,730 2,291
End of period 3,320 3,476 2,730
Cash Paid During The Period For:      
Interest (net of amount capitalized) 428 373 345
Income taxes, net of refunds and overpayments $ 1,559 $ 2,064 $ 1,913