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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net Income $ 9,784 $ 10,026
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 8,677 8,557
Employee retirement benefits 108 (121)
Deferred income taxes 633 1,514
Provision for expected credit losses 1,061 665
Equity in losses (earnings) of unconsolidated businesses, net of dividends received 49 (18)
Changes in current assets and liabilities, net of effects from acquisition/disposition of businesses (620) (1,959)
Other, net (1,672) (999)
Net cash provided by operating activities 18,020 17,665
Cash Flows from Investing Activities    
Capital expenditures (including capitalized software) (10,070) (10,491)
Cash received related to acquisitions of businesses, net 0 247
Acquisitions of wireless licenses (1,085) (2,275)
Collateral receipts (payments) related to derivative contracts, net 824 (2,075)
Other, net 131 (62)
Net cash used in investing activities (10,200) (14,656)
Cash Flows from Financing Activities    
Proceeds from long-term borrowings 1,503 3,617
Proceeds from asset-backed long-term borrowings 3,705 5,053
Net proceeds from (repayments of) short-term commercial paper (167) 2,560
Repayments of long-term borrowings and finance lease obligations (2,600) (7,405)
Repayments of asset-backed long-term borrowings (2,383) (2,695)
Dividends paid (5,487) (5,378)
Other, net (157) 411
Net cash used in financing activities (5,586) (3,837)
Increase (decrease) in cash, cash equivalents and restricted cash 2,234 (828)
Cash, cash equivalents and restricted cash, beginning of period 4,111 4,161
Cash, cash equivalents and restricted cash, end of period $ 6,345 $ 3,333