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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:      
Net income (loss) $ 960 $ 1,066 $ (497)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation 1,390 1,199 1,083
Amortization of purchased intangibles 113 94 75
Loss on disposal of assets 118 35 80
Stock compensation charges 56 51 46
Equity in earnings of affiliated companies (17) (390) (361)
Dividends received from affiliated companies 106 241 201
Deferred tax (benefit) provision (191) (38) 1,796
Customer incentives and deposits, net 142 700 100
Employee benefit payments less than (in excess of) expense 78 (88) 24
Translated earnings contract (gain) loss, net (248) 93 121
Unrealized translation loss (gain) on transactions 33 55 (339)
Changes in certain working capital items:      
Trade accounts receivable 48 (154) (225)
Inventories (298) (346) (170)
Other current assets (300) (20) (172)
Accounts payable and other current liabilities 36 358 169
Other, net 5 63 73
Net cash provided by operating activities 2,031 2,919 2,004
Cash Flows from Investing Activities:      
Capital expenditures (1,978) (2,242) (1,804)
Acquisition of businesses, net of cash received   (842) (171)
Proceeds from settlement of initial contingent consideration asset   196  
Purchase of equipment for related party (9) (68)  
Sale of equipment to related party 78 19  
Realized gains on translated earnings contracts 66 108 270
Other, net (48) (58) (5)
Net cash used in investing activities (1,891) (2,887) (1,710)
Cash Flows from Financing Activities:      
Net repayments of short-term borrowings and current portion of long-term debt (300) (629) (252)
Proceeds from issuance of long-term debt, net 1,831 1,485 1,445
Proceeds from the exercise of stock options 58 81 309
Repurchases of common stock for treasury (940) (2,227) (2,452)
Dividends paid (742) (685) (651)
Other, net 46 (20) (23)
Net cash used in financing activities (47) (1,995) (1,624)
Effect of exchange rates on cash (14) 1 356
Net increase (decrease) in cash and cash equivalents 79 (1,962) (974)
Cash and cash equivalents at beginning of year 2,355 4,317 5,291
Cash and cash equivalents at end of year $ 2,434 $ 2,355 $ 4,317