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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 572 $ 2,785
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,056 977
Impairment of long-lived assets 582  
Amortization of debt-related costs 12 7
Share-based compensation 43 36
Inventory valuation charges 163  
Equity investments -    
Equity income (123) (179)
Distributions of earnings, net of tax 104 159
Deferred income taxes (135) 189
Changes in assets and liabilities that provided (used) cash:    
Accounts receivable 152 (46)
Inventories 452 (12)
Accounts payable (90) (7)
Other, net (127) (190)
Net cash provided by operating activities 2,661 3,719
Cash flows from investing activities:    
Expenditures for property, plant and equipment (1,673) (1,963)
Purchases of available-for-sale debt securities (270) 0
Proceeds from sales and maturities of available-for-sale debt securities 90 511
Purchases of equity securities (267) 0
Proceeds from sales of equity securities 313 332
Acquisition of equity method investment (472)  
Other, net (28) (90)
Net cash used in investing activities (2,307) (1,210)
Cash flows from financing activities:    
Repurchases of Company ordinary shares (4) (3,752)
Dividends paid - common stock (1,053) (1,111)
Purchase of non-controlling interest (30) (63)
Issuance of long-term debt 2,492 2,096
Repayments of long-term debt (500) (2,000)
Payments of debt issuance costs (18) (12)
Issuance of short-term debt 521 2,500
Repayments of short-term Debt (504) 0
Net proceeds from (repayments of) commercial paper 194 (23)
Payments on forward-starting interest rate swaps that include financing elements (238)  
Proceeds from settlement of cash flow hedges 346  
Other, net (14) (17)
Net cash provided by (used in) financing activities 1,192 (2,382)
Effect of exchange rate changes on cash 50 (16)
Increase in cash and cash equivalents and restricted cash 1,596 111
Cash and cash equivalents and restricted cash at beginning of period 888 401
Cash and cash equivalents and restricted cash at end of period $ 2,484 $ 512