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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities    
Net income including noncontrolling interest $ 3,902 $ 3,802
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities    
Depreciation and amortization 1,090 1,038
Company pension and postretirement contributions (323) (216)
Company pension and postretirement expense 180 418
Stock-based compensation expense 244 233
Deferred income taxes (100) 393
Excess tax benefits from stock-based compensation   (137)
Changes in assets and liabilities    
Accounts receivable (469) (478)
Inventories (15) (139)
Accounts payable (107) (112)
Accrued income taxes (current and long-term) 155 (588)
Other - net (104) (132)
Net cash provided by operating activities 4,453 4,082
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (PP&E) (984) (1,015)
Proceeds from sale of PP&E and other assets 18 17
Acquisitions, net of cash acquired (17) (2,910)
Purchases of marketable securities and investments (1,036) (486)
Proceeds from maturities and sale of marketable securities and investments 794 1,742
Proceeds from sale of businesses 56 19
Other investing (4) 22
Net cash used in investing activities (1,173) (2,611)
Cash Flows from Financing Activities    
Change in short-term debt - net (498) 1,160
Repayment of debt (maturities greater than 90 days) (992) (793)
Proceeds from debt (maturities greater than 90 days) 2,832 3,420
Purchases of treasury stock (2,829) (4,104)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans 741 518
Dividends paid to shareholders (2,014) (1,933)
Excess tax benefits from stock-based compensation   137
Other - net (20) (99)
Net cash used in financing activities (2,780) (1,694)
Effect of exchange rate changes on cash and cash equivalents 10 (69)
Net increase (decrease) in cash and cash equivalents 510 (292)
Cash and cash equivalents at beginning of year 1,798 1,897
Cash and cash equivalents at end of period $ 2,308 $ 1,605