Quarterly report pursuant to Section 13 or 15(d)

STATEMENTS OF CONSOLIDATED CASH FLOWS

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STATEMENTS OF CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities:    
Net Income $ 2,733 $ 2,796
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,309 1,143
Pension and postretirement benefit expense 321 376
Pension and postretirement benefit contributions (263) (1,108)
Self-insurance reserves 293 (98)
Deferred tax (benefit) expense 284 275
Stock compensation expense 368 513
Other (gains) losses 97 108
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable 105 817
Other assets 301 398
Accounts payable (617) (782)
Accrued wages and withholdings 771 (256)
Other liabilities 239 57
Other liabilities 6 (32)
Net cash from operating activities 5,947 4,207
Cash Flows From Investing Activities:    
Capital expenditures (2,065) (2,861)
Proceeds from disposals of property, plant and equipment 2 6
Purchases of marketable securities (131) (383)
Sales and maturities of marketable securities 241 480
Net change in finance receivables 16 8
Cash paid for business acquisitions, net of cash and cash equivalents acquired 0 (1)
Other investing activities (6) (96)
Net cash used in investing activities (1,943) (2,847)
Cash Flows From Financing Activities:    
Net change in short-term debt (892) (51)
Proceeds from long-term borrowings 4,436 2,653
Repayments of long-term borrowings (1,826) (1,988)
Purchases of common stock (231) (503)
Issuances of common stock 131 129
Dividends (1,683) (1,599)
Other financing activities (334) (175)
Net cash used in financing activities (399) (1,534)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (29) 23
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 3,576 (151)
Cash, Cash Equivalents and Restricted Cash:    
Beginning of period 5,238 4,367
End of period $ 8,814 $ 4,216