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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net earnings $ 3,605 $ 3,614 $ 2,981
Adjustments to reconcile net earnings to net cash provided by operating activities      
Depreciation and amortization 1,026 994 990
Stock-based compensation 138 164 189
Deferred income taxes (445) (401) (5)
Goodwill impairment charges [2]   119 [1] 195
Severance charges [3] 102   201
Changes in assets and liabilities      
Receivables, net (256) 28 767
Inventories, net (398) 77 (60)
Accounts payable (160) 95 (647)
Customer advances and amounts in excess of costs incurred (32) (572) (158)
Postretirement benefit plans 1,068 (880) (375)
Income taxes (48) 351 364
Other, net 501 277 104
Net cash provided by operating activities 5,101 3,866 4,546
Investing activities      
Capital expenditures (939) (845) (836)
Acquisitions of businesses and investments in affiliates (9,003) (898) (269)
Other, net 208 20 (16)
Net cash used for investing activities (9,734) (1,723) (1,121)
Financing activities      
Repurchases of common stock (3,071) (1,900) (1,762)
Proceeds from stock option exercises 174 308 827
Dividends paid (1,932) (1,760) (1,540)
Proceeds from the issuance of long-term debt 9,101    
Repayments of long-term debt     (150)
Proceeds from borrowings under revolving credit facilities 6,000    
Repayments of borrowings under revolving credit facilities (6,000)    
Other, net 5 38 (81)
Net cash provided by (used for) financing activities 4,277 (3,314) (2,706)
Net change in cash and cash equivalents (356) (1,171) 719
Cash and cash equivalents at beginning of year 1,446 2,617 1,898
Cash and cash equivalents at end of year $ 1,090 $ 1,446 $ 2,617
[1] The impairment in 2014 relates to our Technical Services reporting unit within our IS&GS business segment (Note 1).
[2] We recognized non-cash goodwill impairment charges related to the Technical Services reporting unit within our MFC business segment in 2014 and 2013. See Note 1 for more information.
[3] See Note 15 for information on charges related to certain severance actions at our business segments. Severance charges for initiatives that are not significant are included in business segment operating profit.