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, 2023
Sep. 30, 2022
Cash Flows From Operating Activities:    
Net income $ 5,103 $ 8,095
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 2,499 2,300
Pension and postretirement benefit (income) expense 729 666
Pension and postretirement benefit contributions (1,363) (2,106)
Self-insurance reserves 81 182
Deferred tax (benefit) expense 327 466
Stock compensation expense 186 850
Other (gains) losses 89 (25)
Changes in assets and liabilities, net of effects of business acquisitions:    
Accounts receivable 2,880 1,022
Other assets (252) (98)
Accounts payable (2,058) (952)
Accrued wages and withholdings (155) (59)
Other liabilities (157) 481
Other operating activities (82) (50)
Net cash from operating activities 7,827 10,772
Cash Flows From Investing Activities:    
Capital expenditures (3,109) (2,278)
Proceeds from disposal of businesses, property, plant and equipment 167 12
Purchases of marketable securities (3,347) (195)
Sales and maturities of marketable securities 2,397 193
Acquisitions, net of cash acquired (39) (106)
Other investing activities 2 (34)
Net cash used in investing activities (3,929) (2,408)
Cash Flows From Financing Activities:    
Net change in short-term debt 415 0
Proceeds from long-term borrowings 2,546 0
Repayments of long-term borrowings (1,625) (1,124)
Purchases of common stock (2,250) (2,194)
Issuances of common stock 190 198
Dividends (4,034) (3,842)
Other financing activities (427) (513)
Net cash used in financing activities (5,185) (7,475)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (4) (99)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (1,291) 790
Cash, Cash Equivalents and Restricted Cash:    
Beginning of period 5,602 10,255
End of period $ 4,311 $ 11,045