XML 19 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities      
Net income including noncontrolling interest $ 5,058 $ 4,841 $ 4,998
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities      
Depreciation and amortization 1,474 1,435 1,408
Company pension and postretirement contributions (383) (267) (215)
Company pension and postretirement expense 251 556 391
Stock-based compensation expense 298 276 280
Deferred income taxes 7 395 (146)
Excess tax benefits from stock-based compensation   (154) (167)
Changes in assets and liabilities      
Accounts receivable (313) (58) (268)
Inventories 57 3 (113)
Accounts payable 148 9 75
Accrued income taxes (current and long-term) 101 (744) 206
Other - net (36) 128 177
Net cash provided by operating activities 6,662 6,420 6,626
Cash Flows from Investing Activities      
Purchases of property, plant and equipment (PP&E) (1,420) (1,461) (1,493)
Proceeds from sale of PP&E and other assets 58 33 135
Acquisitions, net of cash acquired (16) (2,914) (94)
Purchases of marketable securities and investments (1,410) (652) (1,280)
Proceeds from maturities and sale of marketable securities and investments 1,247 1,952 2,034
Proceeds from sale of businesses 142 123  
Other investing (4) 102 102
Net cash used in investing activities (1,403) (2,817) (596)
Cash Flows from Financing Activities      
Change in short-term debt - net (797) 860 27
Repayment of debt (maturities greater than 90 days) (992) (800) (1,625)
Proceeds from debt (maturities greater than 90 days) 2,832 3,422 2,608
Purchases of treasury stock (3,753) (5,238) (5,652)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans 804 635 968
Dividends paid to shareholders (2,678) (2,561) (2,216)
Excess tax benefits from stock-based compensation   154 167
Purchase of noncontrolling interest     (861)
Other - net (42) (120) (19)
Net cash used in financing activities (4,626) (3,648) (6,603)
Effect of exchange rate changes on cash and cash equivalents (33) (54) (111)
Net increase (decrease) in cash and cash equivalents 600 (99) (684)
Cash and cash equivalents at beginning of year 1,798 1,897 2,581
Cash and cash equivalents at end of period $ 2,398 $ 1,798 $ 1,897