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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 5,893 $ 7,264 $ 7,842
Depreciation, amortization and other 3,398 3,601 2,206
Stock-based compensation expense 341 330 308
Deferred income taxes (453) (287) (289)
Acquired in-process research and development 1,505 0 0
Other items, net (229) (195) (186)
Changes in operating assets and liabilities, net of acquisitions:      
Trade receivables, net (429) (427) (504)
Inventories (165) (215) (66)
Other assets (237) 129 10
Accounts payable (69) 45 164
Accrued income taxes, net (854) (249) (585)
Long-term tax liabilities 204 (482) (146)
Other liabilities 356 983 396
Net cash provided by operating activities 9,261 10,497 9,150
Cash flows from investing activities:      
Purchases of marketable securities (8,900) (8,477) (9,394)
Proceeds from sales of marketable securities 4,403 2,597 8,842
Proceeds from maturities of marketable securities 8,831 4,381 20,548
Purchases of property, plant and equipment (880) (608) (618)
Cash paid for acquisitions, net of cash acquired (2,529) 0 (13,617)
Purchases of equity method investments (157) (3,219) (24)
Other (35) (75) (28)
Net cash provided by (used in) investing activities 733 (5,401) 5,709
Cash flows from financing activities:      
Net proceeds from issuance of debt 4,945 8,914 0
Repayment of debt (4,150) (6,450) (4,514)
Repurchases of common stock (4,975) (3,486) (7,702)
Dividends paid (4,013) (3,755) (3,509)
Other (78) (90) (42)
Net cash used in financing activities (8,271) (4,867) (15,767)
Increase (decrease) in cash and cash equivalents 1,723 229 (908)
Cash and cash equivalents at beginning of year 6,266 6,037 6,945
Cash and cash equivalents at end of year $ 7,989 $ 6,266 $ 6,037