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, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows From Operating Activities:      
Net Income $ 3,431 $ 4,844 $ 3,032
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 2,224 2,084 1,923
Pension and postretirement benefit expense 3,725 1,189 3,040
Pension and postretirement benefit contributions (2,668) (1,229) (1,258)
pension obligation settlement 0 0 (2,271)
Self-insurance reserves (21) (80) (201)
Deferred tax expense 123 540 385
Stock compensation expense 591 574 536
Other (gains) losses (198) (185) 218
Changes in assets and liabilities, net of effect of acquisitions:      
Accounts receivable (704) (452) (523)
Other current assets (14) 414 112
Accounts payable 461 (147) 276
Accrued wages and withholdings 109 (63) 106
Other current liabilities (561) (6) 317
Other operating activities (25) (53) 34
Net cash from operating activities 6,473 7,430 5,726
Cash Flows From Investing Activities:      
Capital expenditures (2,965) (2,379) (2,328)
Proceeds from disposals of property, plant and equipment 88 26 53
Purchases of marketable securities (4,816) (7,415) (3,525)
Sales and maturities of marketable securities 5,724 6,388 3,106
Net decrease in finance receivables 9 5 44
Cash paid for business acquisitions (547) (1,904) (88)
Other investing activities (59) (30) (63)
Net cash used in investing activities (2,566) (5,309) (2,801)
Cash Flows From Financing Activities:      
Net change in short-term debt (88) 2,529 0
Proceeds from long-term borrowings 5,927 3,783 1,525
Repayments of long-term borrowings (3,805) (2,724) (1,694)
Purchases of common stock (2,678) (2,702) (2,695)
Issuances of common stock 245 249 274
Dividends (2,643) (2,525) (2,366)
Other financing activities (98) (175) (205)
Net cash used in financing activities (3,140) (1,565) (5,161)
Effect Of Exchange Rate Changes On Cash And Cash Equivalents (21) (117) (138)
Net Increase (Decrease) In Cash And Cash Equivalents 746 439 (2,374)
Cash And Cash Equivalents:      
Beginning of period 2,730 2,291 4,665
End of period 3,476 2,730 2,291
Cash Paid During The Period For:      
Interest (net of amount capitalized) 373 345 366
Income taxes $ 2,064 $ 1,913 $ 1,524