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
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities:    
Net Income $ 3,806 $ 3,670
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,688 1,661
Pension and postretirement benefit expense 651 804
Pension and postretirement benefit contributions (2,585) (1,298)
Self-insurance reserves (17) (38)
Deferred tax (benefit) expense 295 (150)
Stock compensation expense 463 471
Other (gains) losses (21) (165)
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable 818 782
Other current assets 185 370
Accounts payable (411) (276)
Accrued wages and withholdings 117 46
Other current liabilities (580) (491)
Other current liabilities 9 (23)
Net cash from operating activities 4,418 5,363
Cash Flows From Investing Activities:    
Capital expenditures (3,708) (1,837)
Proceeds from disposals of property, plant and equipment 18 76
Purchases of marketable securities (1,468) (4,250)
Sales and maturities of marketable securities 1,582 4,038
Net (increase) decrease in finance receivables (1) 4
Cash paid for business acquisitions, net of cash and cash equivalents acquired (61) (3)
Other investing activities 20 (55)
Net cash used in investing activities (3,618) (2,027)
Cash Flows From Financing Activities:    
Net change in short-term debt (354) (689)
Proceeds from long-term borrowings 5,328 4,018
Repayments of long-term borrowings (2,450) (2,323)
Purchases of common stock (1,346) (2,007)
Issuances of common stock 177 196
Dividends (2,085) (1,987)
Other financing activities (184) 11
Net cash used in financing activities (914) (2,781)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 56 14
Net Increase (Decrease) in Cash and Cash Equivalents (58) 569
Cash and Cash Equivalents:    
Beginning of period 3,476 2,730
End of period $ 3,418 $ 3,299