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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 430 $ 530
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization [1] 903 874
Stock-based compensation expense 108 90
Earnings of equity method investments, less dividends received 3 (5)
Change in assets and liabilities:    
Increase in receivables [2] (280) (152)
Increase in inventories [2] (197) (81)
Increase in other current assets [2] (93) (48)
Decrease (increase) in other assets [2] 2 (70)
Decrease in accounts payable and accrued liabilities [2] (483) (600)
Increase in estimated liability for taxes on income [2] 5 45
Decrease in other liabilities [2] (42) (7)
Other [2] (30) (8)
NET CASH PROVIDED BY OPERATING ACTIVITIES 326 568
Cash flows from investing activities:    
Capital expenditures (413) (454)
SPM investments (151) (240)
Multiclient seismic data costs capitalized (45) (26)
Business acquisitions and investments, net of cash acquired (5) (13)
Sale of investments, net 420 980
Other (36) 35
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (230) 282
Cash flows from financing activities:    
Dividends paid (692) (692)
Proceeds from employee stock purchase plan 85 107
Proceeds from exercise of stock options 22 20
Stock repurchase program (98) (97)
Proceeds from issuance of long-term debt 1,812 12
Repayment of long-term debt (1,368) (51)
Net decrease in short-term borrowings (38) (105)
Other (20) 19
NET CASH USED IN FINANCING ACTIVITIES (297) (787)
Net (decrease) increase in cash before translation effect (201) 63
Translation effect on cash (2) 3
Cash, beginning of period 1,433 1,799
Cash, end of period $ 1,230 $ 1,865
[1] Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and SPM investments.
[2] Net of the effect of business acquisitions.