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, 2018
Sep. 30, 2017
Cash Flows From Operating Activities:    
Net Income $ 4,338 $ 3,809
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,662 1,688
Pension and postretirement benefit expense 461 651
Pension and postretirement benefit contributions (137) (2,585)
Self-insurance reserves (127) (17)
Deferred tax (benefit) expense 218 298
Stock compensation expense 507 463
Other (gains) losses 243 (21)
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable 1,096 818
Other assets 1,299 151
Accounts payable (391) (398)
Accrued wages and withholdings 200 134
Other liabilities 35 (582)
Other liabilities 18 9
Net cash from operating activities 9,422 4,418
Cash Flows From Investing Activities:    
Capital expenditures (4,490) (3,708)
Proceeds from disposals of property, plant and equipment 45 18
Purchases of marketable securities (634) (1,465)
Sales and maturities of marketable securities 612 1,582
Net (increase) decrease in finance receivables (7) (1)
Cash paid for business acquisitions, net of cash and cash equivalents acquired (2) (61)
Other investing activities (23) 20
Net cash used in investing activities (4,499) (3,615)
Cash Flows From Financing Activities:    
Net change in short-term debt (77) (354)
Proceeds from long-term borrowings 1,052 5,328
Repayments of long-term borrowings (2,122) (2,450)
Purchases of common stock (770) (1,346)
Issuances of common stock 176 177
Dividends (2,260) (2,085)
Other financing activities (259) (184)
Net cash used in financing activities (4,260) (914)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (57) 56
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 606 (55)
Cash, Cash Equivalents and Restricted Cash:    
Beginning of period 3,769 3,921
End of period $ 4,375 $ 3,866