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
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows From Operating Activities:    
Net Income $ 965 $ 1,111
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 648 568
Pension and postretirement benefit expense 160 188
Pension and postretirement benefit contributions (222) (214)
Self-insurance reserves 124 (74)
Deferred tax (benefit) expense 86 78
Stock compensation expense 231 308
Other (gains) losses 33 40
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable 1,223 1,301
Other assets 209 128
Accounts payable (1,101) (1,143)
Accrued wages and withholdings 83 (94)
Other liabilities 102 87
Other liabilities 9 (7)
Net cash from operating activities 2,550 2,277
Cash Flows From Investing Activities:    
Capital expenditures (933) (1,514)
Proceeds from disposals of property, plant and equipment 1 4
Purchases of marketable securities (80) (248)
Sales and maturities of marketable securities 80 349
Net change in finance receivables 3 10
Cash paid for business acquisitions, net of cash and cash equivalents acquired 0 (1)
Other investing activities (5) (16)
Net cash used in investing activities (934) (1,416)
Cash Flows From Financing Activities:    
Net change in short-term debt (91) (1,217)
Proceeds from long-term borrowings 4,253 2,141
Repayments of long-term borrowings (687) (439)
Purchases of common stock (220) (246)
Issuances of common stock 70 47
Dividends (840) (799)
Other financing activities (318) (182)
Net cash from (used in) financing activities 2,167 (695)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (65) 9
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 3,718 175
Cash, Cash Equivalents and Restricted Cash:    
Beginning of period 5,238 4,367
End of period $ 8,956 $ 4,542