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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 1,499 $ 906 $ 788
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 361 329 309
Provision for credit losses 19 11 6
Deferred income tax provision 85 15 73
Stock-based compensation expense 97 56 61
Losses (gains) on sale of property, plant and equipment 3 (70) 6
Other, net (81) (39) 6
Changes in operating assets and liabilities:      
Accounts receivable (455) (63) (65)
Accounts payable and accrued expenses 452 73 (19)
Income taxes payable 22 29 4
Termination of interest rate swap agreements 40 0 0
Other assets and liabilities, net (37) (4) 31
Net cash provided by operating activities 2,005 1,243 1,200
Cash flows from investing activities:      
Business acquisitions, net of cash acquired (330) (58) (421)
Proceeds from disposition of property, plant, and equipment 3 91 2
Capital expenditures (418) (400) (383)
(Increase) decrease in investments and other assets (27) (44) 1
Net cash used in investing activities (772) (411) (801)
Cash flows from financing activities:      
Proceeds from borrowings 749 2,281 2,090
Repayments of debt (1,554) (1,449) (1,966)
Purchases of treasury stock (325) (353) (322)
Exercise of stock options 189 119 99
Employee payroll tax withholdings on stock issued under stock-based compensation plans (15) (16) (21)
Dividends paid (297) (286) (266)
Distributions to noncontrolling interest partners (58) (54) (54)
Contributions from noncontrolling interest partners 0 0 16
Other financing activities, net 44 (17) 23
Net cash (used in) provided by financing activities (1,267) 225 (401)
Net change in cash and cash equivalents and restricted cash (34) 1,057 (2)
Cash and cash equivalents and restricted cash, beginning of year 1,192 135 137
Cash and cash equivalents and restricted cash, end of year $ 1,158 $ 1,192 $ 135