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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities    
Net income including noncontrolling interest $ 3,612 $ 4,014
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities    
Depreciation and amortization 1,130 1,117
Company pension and postretirement contributions (129) (303)
Company pension and postretirement expense 242 306
Stock-based compensation expense 230 258
Gain on sale of businesses (111) (530)
Deferred income taxes (88) (73)
Loss on deconsolidation of Venezuelan subsidiary 162  
Changes in assets and liabilities    
Accounts receivable (14) (596)
Inventories 255 (562)
Accounts payable (222) 148
Accrued income taxes (current and long-term) (53) 122
Other - net (282) 280
Net cash provided by (used in) operating activities 4,732 4,181
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (PP&E) (1,161) (1,046)
Proceeds from sale of PP&E and other assets 91 143
Acquisitions, net of cash acquired (704) 13
Purchases of marketable securities and investments (917) (1,352)
Proceeds from maturities and sale of marketable securities and investments 1,265 2,066
Proceeds from sale of businesses, net of cash sold 236 806
Other - net 45 8
Net cash provided by (used in) investing activities (1,145) 638
Cash Flows from Financing Activities    
Change in short-term debt - net (466) (698)
Repayment of debt (maturities greater than 90 days) (871) (456)
Proceeds from debt (maturities greater than 90 days) 6,116 2,247
Purchases of treasury stock (1,243) (3,601)
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans 437 401
Dividends paid to shareholders (2,488) (2,406)
Other - net (158) (36)
Net cash provided by (used in) financing activities 1,327 (4,549)
Effect of exchange rate changes on cash and cash equivalents (36) (138)
Net increase (decrease) in cash and cash equivalents 4,878 132
Cash and cash equivalents at beginning of year 2,853 3,053
Cash and cash equivalents at end of period $ 7,731 $ 3,185