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Statement of Consolidated Cash Flows (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net income $ 263 $ 534
Adjustments to reconcile net income to cash used for operations:    
Depreciation and amortization 286 270
Deferred income taxes 47 27
Restructuring and other charges 22 99
Net loss (gain) from investing activities - asset sales (F) 5 (515)
Net periodic pension benefit cost (G) 71 108
Stock-based compensation 29 48
Other 50 115
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:    
(Increase) in receivables (B) (709) (567)
(Increase) in inventories (220) (150)
Decrease in prepaid expenses and other current assets 8 30
Increase (decrease) in accounts payable, trade 218 (69)
(Decrease) in accrued expenses (84) (105)
Increase in taxes, including income taxes 37 121
Pension contributions (237) (163)
(Increase) in noncurrent assets (4) (60)
(Decrease) in noncurrent liabilities (42) (39)
Cash used for operations (260) (316)
Financing Activities    
Net change in short-term borrowings (original maturities of three months or less) 5 9
Additions to debt (original maturities greater than three months) 300 512
Premiums paid on early redemption of debt (B & N) (17) (52)
Payments on debt (original maturities greater than three months) (N) (801) (1,333)
Proceeds from exercise of employee stock options 13 26
Dividends paid to shareholders (60) (88)
Distributions to noncontrolling interests 0 (14)
Other (17) (15)
Cash used for financing activities (577) (955)
Investing Activities    
Capital expenditures (288) (229)
Proceeds from the sale of assets and businesses (P) 5 (9)
Sales of investments (F) 9 888
Cash receipts from sold receivables (B & K) 420 285
Other 0 244
Cash provided from investing activities 146 1,179
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2) 4
Net change in cash, cash equivalents and restricted cash (B) (693) (88)
Cash, cash equivalents and restricted cash at beginning of year (B) 2,153 1,878
Cash, cash equivalents and restricted cash at end of period (B) $ 1,460 $ 1,790