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
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities:    
Net income $ 3,976 $ 5,511
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 1,662 1,526
Pension and postretirement benefit (income) expense 486 433
Pension and postretirement benefit contributions (1,328) (123)
Self-insurance reserves 64 112
Deferred tax (benefit) expense 168 360
Stock compensation expense 165 617
Other (gains) losses (19) 11
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable 2,898 820
Other assets 187 (62)
Accounts payable (1,921) (508)
Accrued wages and withholdings (535) (348)
Other liabilities (132) 22
Other operating activities (77) (78)
Net cash from operating activities 5,594 8,293
Cash Flows From Investing Activities:    
Capital expenditures (1,820) (1,388)
Proceeds from disposal of businesses, property, plant and equipment 50 9
Purchases of marketable securities (2,970) (132)
Sales and maturities of marketable securities 1,903 130
Acquisitions, net of cash acquired (34) (99)
Other investing activities 12 (19)
Net cash used in investing activities (2,859) (1,499)
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 (1,596) (1,105)
Purchases of common stock (1,498) (1,242)
Issuances of common stock 119 136
Dividends (2,693) (2,567)
Other financing activities (417) (508)
Net cash used in financing activities (3,582) (5,286)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash 57 (28)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (790) 1,480
Cash, Cash Equivalents and Restricted Cash:    
Beginning of period 5,602 10,255
End of period $ 4,812 $ 11,735