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Consolidated Cash Flow Statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities      
Net income $ 1,066 $ 1,595 $ 2,221
Depreciation and amortization 746 862 863
Asset impairments 22 42 45
Stock-based compensation 75 52 92
Deferred income taxes (255) 63 151
Net (gains) losses on asset dispositions 17 21 11
Equity companies' earnings (in excess of) less than dividends paid (10) 28 (36)
(Increase) decrease in operating working capital (445) (176) (158)
Postretirement benefits 930 (102) (158)
Charge for Venezuelan Balance Sheet Remeasurement and Deconsolidation 153    
Charges related to Venezuelan Operations   462 36
Other 7 (2) (27)
Cash Provided by Operations 2,306 2,845 3,040
Investing Activities      
Capital spending (1,056) (1,039) (953)
Acquisitions of businesses 0 0 (32)
Proceeds from dispositions of property 27 38 129
Proceeds from sales of investments 0 127 26
Investments in time deposits (146) (151) (93)
Maturities of time deposits 164 239 94
Other (39) 16 (15)
Cash Used for Investing (1,050) (770) (844)
Financing Activities      
Cash dividends paid (1,272) (1,256) (1,223)
Change in short-term debt 303 721 (287)
Debt proceeds 1,100 1,257 890
Debt repayments (553) (123) (544)
Redemption of redeemable preferred securities of subsidiary 0 (500) 0
Cash paid on redeemable preferred securities of subsidiaries (3) (34) (27)
Proceeds from exercise of stock options 140 127 232
Acquisitions of common stock for the treasury (861) (1,939) (1,216)
Cash transferred to Halyard Health, Inc. related to spin-off 0 (120) 0
Proceeds from (Payments to) Noncontrolling Interests (151) 0 0
Other (1) (26) (10)
Cash Used for Financing (1,298) (1,893) (2,185)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (128) (447) (63)
Increase (Decrease) in Cash and Cash Equivalents (170) (265) (52)
Cash and Cash Equivalents - Beginning of Year 789 1,054 1,106
Cash and Cash Equivalents - End of Year $ 619 $ 789 $ 1,054