Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities
Net income including noncontrolling interest	$ 1,385	$ 3,152
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities
Depreciation and amortization	921	932
Company pension and postretirement contributions	(80)	(85)
Company pension and postretirement expense	83	92
Stock-based compensation expense	182	184
Deferred income taxes	(451)	91
Changes in assets and liabilities
Accounts receivable	(457)	(337)
Inventories	(837)	(644)
Accounts payable	401	411
Accrued income taxes (current and long-term)	(9)	(141)
Other — net	1,000	(80)
Net cash provided by (used in) operating activities	2,138	3,575
Cash Flows from Investing Activities
Purchases of property, plant and equipment (PP&E)	(808)	(704)
Proceeds from sale of PP&E and other assets	56	43
Purchases of marketable securities and investments	(518)	(1,188)
Proceeds from maturities and sale of marketable securities and investments	456	786
Proceeds from sale of businesses, net of cash sold	13	0
Other — net	(13)	20
Net cash provided by (used in) investing activities	(814)	(1,043)
Cash Flows from Financing Activities
Change in short-term debt — net	344	4
Repayment of debt (maturities greater than 90 days)	(1,179)	(450)
Proceeds from debt (maturities greater than 90 days)	1	1
Purchases of treasury stock	(773)	(734)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans	227	480
Dividends paid to shareholders	(1,700)	(1,716)
Other — net	(22)	(19)
Net cash provided by (used in) financing activities	(3,102)	(2,434)
Effect of exchange rate changes on cash and cash equivalents	(64)	(37)
Net increase (decrease) in cash and cash equivalents	(1,842)	61
Cash and cash equivalents at beginning of year	4,564	4,634
Cash and cash equivalents at end of period	$ 2,722	$ 4,695