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, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows From Operating Activities:      
Net Income $ 11,548 $ 12,890 $ 1,343
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 3,188 2,953 2,698
Pension and postretirement benefit (income) expense (129) (2,456) 7,125
Pension and postretirement benefit contributions (2,342) (576) (3,125)
Self-insurance reserves (20) 178 503
Deferred tax (benefit) expense 531 1,645 (858)
Stock compensation expense 1,568 878 796
Other (gains) losses 123 137 917
Changes in assets and liabilities, net of effect of acquisitions:      
Accounts receivable (322) (2,147) (1,562)
Other assets 117 312 218
Accounts payable 34 1,265 904
Accrued wages and withholdings (189) (245) 1,631
Other liabilities (9) 151 (110)
Other operating activities 6 22 (21)
Net cash from operating activities 14,104 15,007 10,459
Cash Flows From Investing Activities:      
Capital expenditures (4,769) (4,194) (5,412)
Proceeds from disposal of businesses, property, plant and equipment   872  
Proceeds from disposal of businesses, property, plant and equipment 12   40
Purchases of marketable securities (1,906) (312) (254)
Sales and maturities of marketable securities 255 366 360
Net change in finance receivables 24 34 44
Acquisitions, net of cash acquired (755) (602) (20)
Other investing activities (333) 18 (41)
Net cash used in investing activities (7,472) (3,818) (5,283)
Cash Flows From Financing Activities:      
Net change in short-term debt 0 0 (2,462)
Proceeds from long-term borrowings 0 0 5,003
Repayments of long-term borrowings (2,304) (2,773) (3,392)
Purchases of common stock (3,500) (500) (224)
Issuances of common stock 262 251 285
Dividends (5,114) (3,437) (3,374)
Other financing activities (529) (364) (353)
Net cash used in financing activities (11,185) (6,823) (4,517)
Effect Of Exchange Rate Changes On Cash, Cash Equivalents and Restricted Cash (100) (21) 13
Net Increase (Decrease) In Cash, Cash Equivalents and Restricted Cash (4,653) 4,345 672
Cash, Cash Equivalents and Restricted Cash:      
Beginning of period 10,255 5,910 5,238
End of period 5,602 10,255 5,910
Cash Paid During The Period For:      
Interest (net of amount capitalized) 721 697 691
Income taxes (net of refunds) $ 2,574 $ 1,869 $ 1,138