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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income including noncontrolling interests $ 748 $ 600
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations:    
Depreciation and amortization 133 128
Restructuring and termination benefits, net of cash (30) 5
Stock-based compensation expense 16 17
Deferred income taxes (99) 53
Voluntary benefit plan contributions 0 (102)
Cash effects of changes in:    
Receivables (211) (145)
Inventories 29 (32)
Accounts payable and other accruals 220 44
Other non-current assets and liabilities (38) 37
Net cash provided by operations 768 605
Investing Activities    
Capital expenditures (82) (71)
Purchases of marketable securities and investments (42) (27)
Proceeds from sale of marketable securities and investments 16 0
Payment for acquisitions, net of cash acquired (351) 0
Net cash used in investing activities (459) (98)
Financing Activities    
Principal payments on debt (1,200) (1,774)
Proceeds from issuance of debt 1,188 2,076
Dividends paid (373) (366)
Purchases of treasury shares (220) (399)
Proceeds from exercise of stock options 297 71
Net cash provided by (used in) financing activities (308) (392)
Effect of exchange rate changes on Cash and cash equivalents (30) 2
Net increase (decrease) in Cash and cash equivalents (29) 117
Cash and cash equivalents at beginning of the period 883 726
Cash and cash equivalents at end of the period 854 843
Supplemental Cash Flow Information    
Income taxes paid $ 128 $ 149