CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions |
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Operating Activities |
|
|
| Net income including noncontrolling interests |
$ 1,171
|
$ 1,212
|
| Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations: |
|
|
| Depreciation and amortization |
226
|
215
|
| Restructuring and termination benefits, net of cash |
78
|
8
|
| Stock-based compensation expense |
53
|
48
|
| Deferred income taxes |
(64)
|
(41)
|
| Voluntary benefit plan contributions |
(57)
|
(50)
|
| Cash effects of changes in: |
|
|
| Receivables |
(64)
|
(132)
|
| Inventories |
9
|
(35)
|
| Accounts payable and other accruals |
(61)
|
69
|
| Other non-current assets and liabilities |
14
|
26
|
| Net cash provided by operations |
1,305
|
1,320
|
| Investing Activities |
|
|
| Capital expenditures |
(229)
|
(248)
|
| Purchases of marketable securities and investments |
(201)
|
(183)
|
| Proceeds from sale of marketable securities and investments |
114
|
87
|
| Other |
4
|
4
|
| Net cash used in investing activities |
(312)
|
(340)
|
| Financing Activities |
|
|
| Principal payments on debt |
(1,841)
|
(4,078)
|
| Proceeds from issuance of debt |
1,761
|
4,123
|
| Dividends paid |
(716)
|
(704)
|
| Purchases of treasury shares |
(660)
|
(482)
|
| Proceeds from exercise of stock options |
337
|
274
|
| Net cash used in financing activities |
(1,119)
|
(867)
|
| Effect of exchange rate changes on Cash and cash equivalents |
52
|
2
|
| Net increase (decrease) in Cash and cash equivalents |
(74)
|
115
|
| Cash and cash equivalents at beginning of the period |
1,315
|
970
|
| Cash and cash equivalents at end of the period |
1,241
|
1,085
|
| Supplemental Cash Flow Information |
|
|
| Income taxes paid |
$ 639
|
$ 507
|