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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income $ 6,960 $ 7,728 $ 6,377
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property, plant and equipment 986 831 658
Amortization of acquisition-related intangible assets 2,395 1,761 1,667
Change in deferred income taxes (995) (647) (552)
Stock-based compensation 307 230 196
Loss on early extinguishment of debt 26 767 0
Other non-cash expenses 524 190 338
Changes in assets and liabilities, excluding the effects of acquisitions and disposition:      
Accounts receivable (430) (204) (1,302)
Inventories (825) (1,065) (508)
Accounts payable 648 479 59
Contributions to retirement plans (41) (34) (96)
Other (401) (724) 1,452
Net cash provided by operating activities 9,154 9,312 8,289
Investing activities      
Acquisitions, net of cash acquired (39) (19,395) (38)
Purchase of property, plant and equipment (2,243) (2,523) (1,474)
Proceeds from sale of property, plant and equipment 24 20 8
Other investing activities, net 99 (34) (6)
Net cash used in investing activities (2,159) (21,932) (1,510)
Financing activities      
Net proceeds from issuance of debt 3,193 18,137 3,464
Repayment of debt (375) (11,738) (710)
Proceeds from issuance of commercial paper 1,526 2,512 383
Repayments of commercial paper (3,690) 0 (387)
Purchases of company common stock (3,000) (2,000) (1,500)
Dividends paid (455) (395) (337)
Other financing activities, net (9) 65 46
Net cash (used in) provided by financing activities (2,810) 6,581 959
Exchange rate effect on cash (139) 194 176
Increase (decrease) in cash, cash equivalents and restricted cash 4,046 (5,845) 7,914
Cash, cash equivalents and restricted cash at beginning of year 4,491 10,336 2,422
Cash, cash equivalents and restricted cash at end of year $ 8,537 $ 4,491 $ 10,336