Net repayments of short-term debt

[Index to Consolidated Financial Statements](#ibab9fb71d67648f0b758869f160b7f4b_100)  
Consolidated Statements of Cash Flows

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Years Ended December 31, |
| In millions | 2021 |  | 2020 |  | 2019 |
| Cash flows from operating activities: |   |  |   |  |  |
| Cash receipts from customers | $ | 284,219  |  |  | $ | 264,327  |  |  | $ | 248,393  |  |
| Cash paid for inventory and prescriptions dispensed by retail network pharmacies | (165,783) |  |  | (158,636) |  |  | (149,655) |  |
| Insurance benefits paid  | (63,598) |  |  | (55,124) |  |  | (52,242) |  |
| Cash paid to other suppliers and employees | (31,652) |  |  | (29,763) |  |  | (28,932) |  |
| Interest and investment income received | 743  |  |  | 894  |  |  | 955  |  |
| Interest paid | (2,469) |  |  | (2,904) |  |  | (2,954) |  |
| Income taxes paid | (3,195) |  |  | (2,929) |  |  | (2,717) |  |
| Net cash provided by operating activities | 18,265  |  |  | 15,865  |  |  | 12,848  |  |
|  |  |  |  |  |  |
| Cash flows from investing activities: |  |  |  |  |  |
| Proceeds from sales and maturities of investments | 7,246  |  |  | 6,467  |  |  | 7,049  |  |
| Purchases of investments | (9,963) |  |  | (9,639) |  |  | (7,534) |  |
| Purchases of property and equipment | (2,520) |  |  | (2,437) |  |  | (2,457) |  |
| Proceeds from sale-leaseback transactions | —  |  |  | 101  |  |  | 5  |  |
| Acquisitions (net of cash acquired) | (146) |  |  | (866) |  |  | (444) |  |
| Proceeds from sale of subsidiary | —  |  |  | 840  |  |  | —  |  |
| Other | 122  |  |  | —  |  |  | 42  |  |
| Net cash used in investing activities | (5,261) |  |  | (5,534) |  |  | (3,339) |  |
|  |  |  |  |  |  |
| Cash flows from financing activities: |  |  |  |  |  |
| Net repayments of short-term debt | —  |  |  | —  |  |  | (720) |  |
| Proceeds from issuance of long-term debt | 987  |  |  | 9,958  |  |  | 3,736  |  |
| Repayments of long-term debt | (10,254) |  |  | (15,631) |  |  | (8,336) |  |
| Derivative settlements | —  |  |  | (7) |  |  | (25) |  |
|  |  |  |  |  |  |
| Dividends paid | (2,625) |  |  | (2,624) |  |  | (2,603) |  |
| Proceeds from exercise of stock options | 549  |  |  | 264  |  |  | 210  |  |
| Payments for taxes related to net share settlement of equity awards | (168) |  |  | (88) |  |  | (112) |  |
| Other | 155  |  |  | 432  |  |  | 196  |  |
| Net cash used in financing activities | (11,356) |  |  | (7,696) |  |  | (7,654) |  |
|  |  |  |  |  |  |
| Net increase in cash, cash equivalents and restricted cash | 1,648  |  |  | 2,635  |  |  | 1,855  |  |
| Cash, cash equivalents and restricted cash at the beginning of the period | 11,043  |  |  | 8,408  |  |  | 6,553  |  |
| Cash, cash equivalents and restricted cash at the end of the period | $ | 12,691  |  |  | $ | 11,043  |  |  | $ | 8,408  |  |

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