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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows from Operating Activities    
Net income including noncontrolling interest $ 2,468 $ 2,911
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities    
Depreciation and amortization 762 818
Company pension and postretirement contributions (261) (279)
Company pension and postretirement expense 204 163
Stock-based compensation expense 208 206
Gain on sale of businesses (530) (490)
Deferred income taxes (1) (120)
Changes in assets and liabilities    
Accounts receivable (606) (412)
Inventories (337) (347)
Accounts payable (12) (60)
Accrued income taxes (current and long-term) 234 257
Other - net (87) (17)
Net cash provided by operating activities 2,042 2,630
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (PP&E) (669) (589)
Proceeds from sale of PP&E and other assets 96 13
Acquisitions, net of cash acquired 13  
Purchases of marketable securities and investments (964) (407)
Proceeds from maturities and sale of marketable securities and investments 1,636 543
Proceeds from sale of businesses, net of cash sold 806 862
Other - net (11) 5
Net cash provided by investing activities 907 427
Cash Flows from Financing Activities    
Change in short-term debt - net 774 (113)
Repayment of debt (maturities greater than 90 days) (6) (650)
Proceeds from debt (maturities greater than 90 days) 6  
Purchases of treasury stock (2,537) (1,184)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans 305 496
Dividends paid to shareholders (1,612) (1,403)
Other - net (26) (2)
Net cash used in financing activities (3,096) (2,856)
Effect of exchange rate changes on cash and cash equivalents (105) 55
Net increase (decrease) in cash and cash equivalents (252) 256
Cash and cash equivalents at beginning of year 3,053 2,398
Cash and cash equivalents at end of period $ 2,801 $ 2,654