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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 4,090 $ 6,717 $ 6,552
Noncash adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other 5,592 4,071 3,417
Stock-based compensation expense 530 431 401
Deferred income taxes (1,228) (1,273) (1,198)
Adjustments for equity method investments (10) 11 891
Loss on divestiture 0 0 567
Losses (gains) on equity securities 159 (1,565) 127
Other items, net (8) 563 (303)
Changes in operating assets and liabilities, net of acquisitions:      
Trade receivables, net 441 (1,015) (746)
Inventories 2,532 491 (742)
Other assets (652) (564) 258
Accounts payable 312 (402) 154
Accrued income taxes, net (1,011) (1,031) (647)
Long-term tax liabilities (492) 371 229
Accrued liabilities 92 953 97
Accrued sales incentives and allowance 1,194 935 846
Other liabilities (51) (222) (182)
Net cash provided by operating activities 11,490 8,471 9,721
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash acquired 0 (26,989) (3,839)
Purchases of marketable securities 0 (1) (2,587)
Proceeds from sales of marketable securities 0 1,123 98
Proceeds from maturities of marketable securities 0 550 1,120
Purchases of property, plant and equipment (1,096) (1,112) (936)
Other 50 225 100
Net cash used in investing activities (1,046) (26,204) (6,044)
Cash flows from financing activities:      
Net proceeds from issuance of debt 0 27,777 6,919
Extinguishment of debt (659) (647) (297)
Repayment of debt (3,600) (1,454) 0
Repurchases of common stock (200) 0 (6,360)
Dividends paid (4,832) (4,556) (4,196)
Other (124) (72) (103)
Net cash (used in) provided by financing activities (9,415) 21,048 (4,037)
Increase (decrease) in cash and cash equivalents 1,029 3,315 (360)
Cash and cash equivalents at beginning of year 10,944 7,629 7,989
Cash and cash equivalents at end of year $ 11,973 $ 10,944 $ 7,629