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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operations    
Net income $ 389 $ 272
Adjustments to reconcile income from continuing operations to net cash from operating activities:    
Loss from discontinued operations, net of tax   1
Depreciation and amortization 192 194
Deferred income taxes (33) 9
Stock compensation 20 18
Net periodic pension benefit and OPEB costs 10 31
Other 12 (1)
Changes in balance sheet items    
Accounts and other current receivables, net 76 78
Inventories (56) (29)
Accounts payable and accrued liabilities (103) (262)
Business optimization items (27) (43)
Other (33) (62)
Cash flows from operations – continuing operations 447 206
Cash flows from operations – discontinued operations   (17)
Cash flows from operations 447 189
Cash flows from investing activities    
Capital expenditures (155) (123)
Acquisitions and investments, net of cash acquired (219) (6)
Divestitures and other investing activities, net   12
Cash flows from investing activities (374) (117)
Cash flows from financing activities    
Cash dividends on common stock (87) (70)
Proceeds from stock issued under employee benefit plans 82 111
Purchases of treasury stock (522) (51)
Other (18) (27)
Cash flows from financing activities (545) (37)
Effect of foreign exchange rate changes on cash and equivalents 25 22
(Decrease) increase in cash and equivalents (447) 57
Cash and equivalents at beginning of period 3,394 2,801
Cash and equivalents at end of period $ 2,947 $ 2,858