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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities:    
Net income $ 2,700 $ 1,750
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,233 967
Pension and other postretirement benefits, net 51 123
Deferred income taxes (6) (126)
Net gain on disposal of assets (6) (14)
Equity method investments, net 8 (39)
Changes in the fair value of derivative instruments 9 (35)
Changes in:    
Current receivables 931 424
Inventories 86 (731)
Current accounts payable and accrued liabilities (1,707) 318
All other, net (46) 85
Net cash provided by operating activities 3,253 2,722
Investing activities:    
Additions to property, plant and equipment (1,277) (952)
Acquisitions, net of cash acquired 0 (2,831)
Disposal of assets 14 19
Investments – acquisitions, loans and contributions (221) (341)
Investments - redemptions, repayments and return of capital 4 3
All other, net 52 78
Net cash used in investing activities (1,428) (4,024)
Financing activities:    
Long-term debt – borrowings 528 2,903
Long-term debt – repayments (433) (32)
Debt issuance costs (4) (19)
Issuance of common stock 29 21
Common stock repurchased (773) (1,449)
Dividends paid (443) (386)
Distributions to noncontrolling interests (29) (20)
Contingent consideration payment (175) (172)
All other, net 25 18
Net cash provided by (used in) financing activities (1,275) 864
Net increase (decrease) in cash and cash equivalents 550 (438)
Cash and cash equivalents at beginning of period 1,494 2,292
Cash and cash equivalents at end of period $ 2,044 $ 1,854