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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 29, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings $ 5,796 $ 3,749
Adjustments to reconcile net earnings to cash flows from operating activities:    
Depreciation and amortization of property and intangibles 1,747 1,761
Stock based compensation 263 258
Asset write-downs 11 913
Contingent consideration reversal (983) 0
Net gain on sale of assets/businesses 0 (72)
Deferred tax provision 54 (362)
Accounts receivable allowances and credit losses 22 (3)
Changes in assets and liabilities, net of effects from acquisitions and divestitures:    
(Increase) / Decrease in accounts receivable (812) 157
Increase in inventories (159) (369)
Decrease in accounts payable and accrued liabilities (2,523) (1,833)
Decrease / (Increase) in other current and non-current assets 271 (488)
Decrease in other current and non-current liabilities (329) (168)
NET CASH FLOWS FROM OPERATING ACTIVITIES 3,358 3,543
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (625) (656)
Proceeds from the disposal of assets/businesses, net 17 253
Acquisitions, net of cash acquired (939) (1,683)
Purchases of investments (2,064) (730)
Sales of investments 1,544 1,495
Proceeds from credit support agreements, net 1,743 0
Other (257) (96)
NET CASH USED BY INVESTING ACTIVITIES (581) (1,417)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends to shareholders (2,505) (2,396)
Repurchase of common stock (1,711) (2,206)
Proceeds from short-term debt 10 13
Repayment of short-term debt (18) (16)
Repayment of long-term debt (11) (1,002)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 332 94
Other (412) (3)
NET CASH USED BY FINANCING ACTIVITIES (4,315) (5,516)
Effect of exchange rate changes on cash and cash equivalents (237) 17
Decrease in cash and cash equivalents (1,775) (3,373)
Cash and Cash equivalents, beginning of period 17,305 18,107
Cash and Cash equivalents, end of period 15,530 14,734
Acquisitions    
Fair value of assets acquired 1,136 2,154
Fair value of liabilities assumed and noncontrolling interests (197) (471)
Net cash paid for acquisitions 939 $ 1,683
Auris Health    
Adjustments to reconcile net earnings to cash flows from operating activities:    
Contingent consideration reversal $ (983)