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, 2023
Mar. 31, 2022
Cash Flows From Operating Activities:    
Net income $ 1,895 $ 2,662
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 834 764
Pension and postretirement benefit (income) expense 243 201
Pension and postretirement benefit contributions (1,277) (45)
Self-insurance reserves (20) (45)
Deferred tax (benefit) expense 56 209
Stock compensation expense 126 386
Other (gains) losses (13) 44
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable 2,254 1,227
Other assets 62 7
Accounts payable (1,668) (743)
Accrued wages and withholdings (508) (343)
Other liabilities 405 173
Other operating activities (32) (17)
Net cash from operating activities 2,357 4,480
Cash Flows From Investing Activities:    
Capital expenditures (609) (548)
Proceeds from disposal of businesses, property, plant and equipment 5 0
Purchases of marketable securities (2,371) (68)
Sales and maturities of marketable securities 1,179 60
Acquisitions, net of cash acquired (34) 1
Other investing activities 17 (17)
Net cash used in investing activities (1,813) (572)
Cash Flows From Financing Activities:    
Net change in short-term debt 0 0
Proceeds from long-term borrowings 2,503 0
Repayments of long-term borrowings (65) (18)
Purchases of common stock (751) (254)
Issuances of common stock 49 67
Dividends (1,348) (1,284)
Other financing activities (384) (481)
Net cash from/(used in) financing activities 4 (1,970)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash 40 15
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 588 1,953
Cash, Cash Equivalents and Restricted Cash:    
Beginning of period 5,602 10,255
End of period $ 6,190 $ 12,208