Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	6 Months Ended
Jun. 30, 2018	Jun. 30, 2017
Cash flows from operations
Net income	$ 732	$ 537
Adjustments to reconcile income from continuing operations to net cash from operating activities:
Depreciation and amortization	387	378
Deferred income taxes	(51)	(20)
Stock compensation	54	46
Net periodic pension benefit and OPEB costs	21	62
Other	40	45
Changes in balance sheet items
Accounts and other current receivables, net	43	43
Inventories	(134)	(38)
Accounts payable and accrued liabilities	(109)	(112)
Business optimization items	(47)	(79)
Other	(84)	(95)
Cash flows from operations – continuing operations	852	767
Cash flows from operations – discontinued operations		(49)
Cash flows from operations	852	718
Cash flows from investing activities
Capital expenditures	(311)	(279)
Acquisitions and investments, net of cash acquired	(228)	(36)
Divestitures and other investing activities, net		2
Cash flows from investing activities	(539)	(313)
Cash flows from financing activities
Issuance of debt		633
Payments of obligations	(1)
Cash dividends on common stock	(173)	(141)
Proceeds from stock issued under employee benefit plans	170	200
Purchases of treasury stock	(781)	(95)
Other	(23)	(31)
Cash flows from financing activities	(808)	566
Effect of foreign exchange rate changes on cash and equivalents	(42)	45
(Decrease) increase in cash and equivalents	(537)	1,016
Cash and equivalents at beginning of period	3,394	2,801
Cash and equivalents at end of period	$ 2,857	$ 3,817

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