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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating Activities    
Net income including noncontrolling interests $ 1,212 $ 1,199
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations:    
Depreciation and amortization 215 225
Restructuring and termination benefits, net of cash 8 59
Venezuela remeasurement charge 0 16
Stock-based compensation expense 48 51
Deferred income taxes (41) (60)
Voluntary benefit plan contribution (50) 0
Cash effects of changes in:    
Receivables (132) (222)
Inventories (35) 8
Accounts payable and other accruals 69 (77)
Other non-current assets and liabilities 26 24
Net cash provided by operations 1,320 1,223
Investing Activities    
Capital expenditures (248) (280)
Purchases of marketable securities and investments (183) (365)
Proceeds from sale of marketable securities and investments 87 195
Other 4 12
Net cash used in investing activities (340) (438)
Financing Activities    
Principal payments on debt (4,078) (4,178)
Proceeds from issuance of debt 4,123 4,686
Dividends paid (704) (689)
Purchases of treasury shares (482) (767)
Proceeds from exercise of stock options and excess tax benefits 274 192
Net cash used in financing activities (867) (756)
Effect of exchange rate changes on Cash and cash equivalents 2 (59)
Net increase (decrease) in Cash and cash equivalents 115 (30)
Cash and cash equivalents at beginning of the period 970 [1] 1,089
Cash and cash equivalents at end of the period 1,085 1,059
Supplemental Cash Flow Information    
Income taxes paid $ 507 $ 640
[1] Prior year amounts have been reclassified to conform to the current year presentation of debt issuance costs required by Accounting Standards Update (“ASU”) No. 2015-03 “Simplifying the Presentation of Debt Issuance Costs.” See Note 1 to the Condensed Consolidated Financial Statements for additional information.