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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income $ 3,410 $ 4,234
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation 3,139 3,138
Amortization of intangibles 1,897 1,858
Stock-based compensation 719 658
Net (gain)/loss on asset sales and other (150) 80
Changes in operating assets and liabilities, net of acquisitions/divestitures 1,238 2,370
Net cash provided by operating activities 10,252 12,337
Cash flows from investing activities    
Payments for property, plant and equipment (1,612) (1,940)
Proceeds from disposition of property, plant and equipment 312 147
Investment in software (555) (469)
Acquisition of businesses, net of cash acquired (3,018) (37)
Divestiture of businesses, net of cash transferred 26 510
Non-operating finance receivables - net (1) 29
Purchases of marketable securities and other investments (2,654) (5,012)
Proceeds from disposition of marketable securities and other investments 2,202 4,302
Net cash provided by/(used in) investing activities (5,300) (2,470)
Cash flows from financing activities    
Proceeds from new debt 394 10,337
Payments to settle debt (7,321) (8,802)
Short-term borrowings/(repayments) less than 90 days - net 840 (467)
Common stock repurchases for tax withholdings (252) (225)
Financing - other 71 72
Cash dividends paid (4,395) (4,343)
Net cash provided by/(used in) financing activities (10,662) (3,428)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (159) (200)
Net change in cash, cash equivalents and restricted cash (5,868) 6,239
Cash, cash equivalents and restricted cash at January 1 13,675 8,314
Cash, cash equivalents and restricted cash at September 30 $ 7,806 $ 14,553