XML 33 R6.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income $ 1,925 $ 1,981 $ 1,803
Adjustments to reconcile to net cash provided by operating activities      
Depreciation and amortization 929 925 983
Deferred income taxes (80) (100) (382)
Pension and other postretirement benefits expense 235 323 293
Contributions to pension plans (262) (330) (362)
Contributions to other postretirement benefits plans (30) (31) (40)
Excess tax benefit from equity-based compensation (1) (1) (20)
Gain on sale of businesses 0 0 (68)
Changes in working capital      
Accounts receivable - net (170) 5 (205)
Inventory 25 (20) (152)
Accounts payable 0 (120) 49
Accrued compensation 20 (28) (32)
Accrued income and other taxes 30 (9) (73)
Other current assets (21) 7 73
Other current liabilities (62) (76) 8
Other - net 14 (155) 3
Net cash provided by operating activities 2,552 2,371 1,878
Investing activities      
Capital expenditures for property, plant and equipment (497) (506) (632)
Cash received from (paid for) acquisitions of businesses, net of cash acquired 1 (72) 2
Sales (purchases) of short-term investments - net (40) 37 522
Proceeds from sales of businesses 0 1 282
Other - net 7 (35) (31)
Net cash (used in) provided by investing activities (529) (575) 143
Financing activities      
Proceeds from borrowings 631 425 0
Payments on borrowings (653) (1,027) (582)
Cash dividends paid (1,037) (1,026) (929)
Exercise of employee stock options 74 52 54
Repurchase of shares (730) (682) (650)
Excess tax benefit from equity-based compensation 1 1 20
Other - net (6) (10) (43)
Net cash used in financing activities (1,720) (2,267) (2,130)
Effect of currency on cash (28) (42) (25)
Total increase (decrease) in cash 275 (513) (134)
Cash at the beginning of the period 268 781 915
Cash at the end of the period $ 543 $ 268 $ 781