CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income		$ 3,439	$ 2,511
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	[1]	1,081	1,047
Amortization of capitalized software and acquired intangible assets		1,205	1,104
Stock-based compensation		636	556
Net (gain)/loss on divestitures, asset sales and other	[2]	(280)	(19)
Changes in operating assets and liabilities, net of acquisitions/divestitures	[2]	152	1,214
Net cash provided by operating activities		6,234	6,412
Cash flows from investing activities:
Payments for property, plant and equipment		(459)	(664)
Proceeds from disposition of property, plant and equipment/other		57	25
Investment in software		(358)	(305)
Acquisition of businesses, net of cash acquired		(235)	(356)
Divestitures of businesses, net of cash transferred		703	6
Purchases of marketable securities and other investments		(5,596)	(9,260)
Proceeds from disposition of marketable securities and other investments		3,917	2,600
Net cash provided by/(used in) investing activities		(1,971)	(7,953)
Cash flows from financing activities:
Proceeds from new debt		5,705	9,432
Payments to settle debt		(5,224)	(3,260)
Short-term borrowings/(repayments) less than 90 days — net		0	(3)
Common stock repurchases for tax withholdings		(350)	(240)
Financing — other		289	56
Cash dividends paid		(3,058)	(3,007)
Net cash provided by/(used in) financing activities		(2,638)	2,978
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(236)	(1)
Net change in cash, cash equivalents and restricted cash		1,389	1,436
Cash, cash equivalents and restricted cash at January 1		13,089	7,988
Cash, cash equivalents and restricted cash at June 30		$ 14,478	$ 9,425

[1] Includes operating lease right-of-use assets amortization expense of $0.4 billion in 2024 and $0.5 billion in 2023.

[2] Prior period has been reclassified to conform to the change in 2024 presentation.