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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net Income $ 5,018 $ 4,711
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 4,318 4,236
Employee retirement benefits 54 (210)
Deferred income taxes 331 627
Provision for expected credit losses 530 328
Equity in losses of unconsolidated businesses, net of dividends received 10 7
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses (774) (3,492)
Other, net (1,198) 614
Net cash provided by operating activities 8,289 6,821
Cash Flows from Investing Activities    
Capital expenditures (including capitalized software) (5,958) (5,821)
Acquisitions of wireless licenses (598) (1,838)
Collateral repayments (payments) related to derivative contracts, net 367 (277)
Other, net 79 (59)
Net cash used in investing activities (6,110) (7,995)
Cash Flows from Financing Activities    
Proceeds from long-term borrowings 504 3,604
Proceeds from asset-backed long-term borrowings 1,754 3,545
Net proceeds from short-term commercial paper 342 3,791
Repayments of long-term borrowings and finance lease obligations (1,325) (6,556)
Repayments of asset-backed long-term borrowings (931) (1,650)
Dividends paid (2,744) (2,654)
Other, net 17 165
Net cash provided by (used in) financing activities (2,383) 245
Decrease in cash, cash equivalents and restricted cash (204) (929)
Cash, cash equivalents and restricted cash, beginning of period 4,111 4,161
Cash, cash equivalents and restricted cash, end of period $ 3,907 $ 3,232