XML 21 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating Activities      
Net Income $ 1,975.4 $ 1,894.4 $ 1,273.3
Loss from discontinued operations 4.9 1.1 5.8
Income from continuing operations 1,980.3 1,895.5 1,279.1
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:      
Depreciation and amortization 1,688.2 1,684.8 999.9
Change in deferred income taxes (524.8) (621.8) (472.8)
Net gains on sale of businesses (7.6) (895.4) 0.0
Non-cash stock-based compensation 125.0 117.1 90.9
Tax benefits from stock-based compensation awards (64.1) (65.6) (48.8)
Non-cash charges for sale of inventories revalued at the date of acquisition 6.9 303.4 23.9
Other non-cash expenses, net 58.6 38.0 22.7
Changes in assets and liabilities, excluding the effects of acquisitions and dispositions:      
Accounts receivable (149.4) (145.4) (147.9)
Inventories (140.7) (109.8) (72.2)
Other assets (254.3) 163.1 168.7
Accounts payable (2.7) 1.2 47.0
Other liabilities 147.7 308.4 163.3
Contributions to retirement plans (37.5) (49.6) (38.2)
Net cash provided by continuing operations 2,825.6 2,623.9 2,015.6
Net cash used in discontinued operations (8.7) (4.3) (4.9)
Net cash provided by operating activities 2,816.9 2,619.6 2,010.7
Investing Activities      
Acquisitions, net of cash acquired (694.6) (13,060.1) (11.4)
Proceeds from sale of businesses, net of cash divested 0.0 1,521.8 0.0
Purchase of property, plant and equipment (422.9) (427.6) (282.4)
Proceeds from sale of property, plant and equipment 18.1 49.3 20.7
Proceeds from sale of investments 12.0 88.6 7.6
Decrease in restricted cash 5.8 48.6 4.0
Other investing activities, net (5.8) (3.3) (1.8)
Net cash used in investing activities (1,087.4) (11,782.7) (263.3)
Financing Activities      
Net proceeds from issuance of long-term debt 1,798.0 6,592.3 3,167.8
Repayment of long-term obligations (3,780.2) (4,429.4) (1.0)
Increase (decrease) in commercial paper, net 49.5 (249.9) 199.9
Decrease in short-term notes payable 0.0 (36.6) (12.0)
Purchases of company common stock (500.0) 0.0 (89.8)
Dividends paid (240.6) (234.8) (216.2)
Net proceeds from issuance of company common stock 0.0 2,942.0 0.0
Net proceeds from issuance of company common stock under employee stock plans 124.0 155.4 230.4
Tax benefits from stock-based compensation awards 64.1 65.6 48.8
Other financing activities, net (6.1) (8.5) (17.9)
Net cash (used in) provided by financing activities (2,491.3) 4,796.1 3,310.0
Exchange Rate Effect on Cash (129.6) (115.5) (37.0)
(Decrease) Increase in Cash and Cash Equivalents (891.4) (4,482.5) 5,020.4
Cash and Cash Equivalents at Beginning of Period 1,343.5 5,826.0 805.6
Cash and Cash Equivalents at End of Period $ 452.1 $ 1,343.5 $ 5,826.0