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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities:      
Net Earnings $ 8,040 $ 6,345 $ 7,014
Adjustments to reconcile net earnings/(loss) to net cash provided by operating activities:      
Depreciation and amortization, net 9,760 10,276 10,686
Deferred income taxes (3,288) (2,738) (1,393)
Stock-based compensation 518 457 583
Impairment charges 255 179 1,207
Divestiture gains and royalties (884) (1,063) (684)
Acquired IPRD 913 815 1,159
Equity investment losses/(gains), net 160 801 (745)
Contingent consideration fair value adjustments (8) (9) (542)
Other adjustments 308 232 183
Changes in operating assets and liabilities:      
Receivables (995) (663) (1,054)
Inventories (751) (69) 13
Accounts payable 198 109 245
Rebates and discounts 904 427 863
Income taxes payable (603) (1,423) (1,063)
Other (667) (610) (265)
Net Cash Provided by Operating Activities 13,860 13,066 16,207
Cash Flows From Investing Activities:      
Sale and maturities of marketable debt securities 733 6,411 4,196
Purchase of marketable debt securities (1,774) (3,592) (5,478)
Proceeds from sales of equity investment securities 215 218 2,579
Capital expenditures (1,209) (1,118) (973)
Divestiture and other proceeds 909 1,305 748
Acquisition and other payments, net of cash acquired (1,169) (4,286) (1,610)
Net Cash Used in Investing Activities (2,295) (1,062) (538)
Cash Flows From Financing Activities:      
Short-term debt obligations, net (120) 194 (160)
Issuance of long-term debt 4,455 5,926 0
Repayment of long-term debt (3,879) (11,431) (6,022)
Repurchase of common stock (5,155) (8,001) (6,287)
Dividends (4,744) (4,634) (4,396)
Stock option proceeds and other, net 27 984 641
Net Cash Used in Financing Activities (9,416) (16,962) (16,224)
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash 45 (33) (102)
Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash 2,194 (4,991) (657)
Cash, Cash Equivalents and Restricted Cash at Beginning of Year 9,325 14,316 14,973
Cash, Cash Equivalents and Restricted Cash at End of Year $ 11,519 $ 9,325 $ 14,316