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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities:    
Net income $ 1,839 $ 903
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 561 562
Amortization of purchased intangibles 29 28
Restructuring, impairment and other charges 78
Stock compensation charges 23 25
Equity in earnings of affiliated companies (100) (156)
Dividends received from affiliated companies 20 95
Deferred tax (benefit) provision (898) 31
Restructuring payments (7) (23)
Employee benefit payments less than (in excess of) expense 15 (8)
Losses (gains) on foreign currency hedges related to translated earnings 2,058 (191)
Unrealized translation (gains) losses on transactions (124) 236
Gain on realignment of equity investment (2,676)
Changes in certain working capital items:    
Trade accounts receivable (103) (25)
Inventories (66) (54)
Other current assets (71) (100)
Accounts payable and other current liabilities (115) (191)
Other, net (20) 16
Net cash provided by operating activities 443 1,148
Cash Flows from Investing Activities:    
Capital expenditures (533) (641)
Acquisitions of business, net of cash acquired (279) (531)
Investment in unconsolidated entities (14) (33)
Cash 4,818
(Payments) proceeds from loan repayments from unconsolidated entities (3) 6
Short-term investments – acquisitions (20) (570)
Short-term investments – liquidations 121 825
Realized gains on foreign currency hedges related to translated earnings 145 321
Other, net 3
Net cash provided by (used in) investing activities 4,238 (623)
Cash Flows from Financing Activities:    
Net repayments of short-term borrowings and current portion of long-term debt (64)
Principal payments under capital lease obligations (1) (1)
Proceeds from issuance of short-term debt 2
Proceeds from issuance of long-term debt 745
Payments from issuance of commercial paper (230)
Payments from settlement of interest rate swap arrangements (10)
Proceeds from the exercise of stock options (27) (98)
Repurchases of common stock for treasury (1,515) (1,093)
Dividends paid (340) (350)
Net cash used in financing activities (2,123) (609)
Effect of exchange rates on cash 86 (257)
Net increase (decrease) in cash and cash equivalents 2,644 (341)
Cash and cash equivalents at beginning of period 4,500 5,309
Cash and cash equivalents at end of period $ 7,144 $ 4,968