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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 376 $ 2,521 $ 675
Adjustments to Reconcile Net income to Cash Fows from Operating Activities:      
Depreciation and Amortization 698 732 722
Amortization and Write-Off of Debt Issuance Costs 23 14 18
Provision for Deferred Income Taxes 79 (1,970) (34)
Loss on Deconsolidation of Venezuelan Subsidiary 646 0 0
Net Pension Curtailments and Settlements (Note 17) 139 39 0
Net Rationalization Charges 114 95 58
Rationalization Payments (144) (226) (72)
Net gains on asset sales (71) (3) (8)
Pension Contributions and Direct Payments (103) (1,338) (1,162)
Net Venezuela Currency Loss 0 200 115
Gain on Recognition of Deferred Royalty Revenue (Note 4) (155) 0 0
Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:      
Accounts Receivable (31) 75 79
Inventories (89) (35) 366
Accounts Payable — Trade 78 (41) (30)
Compensation and Benefits 66 223 243
Other Current Liabilities (28) (40) (28)
Other Assets and Liabilities 89 94 (4)
Total Cash Flows from Operating Activities 1,687 340 938
Cash Flows from Investing Activities:      
Capital Expenditures (983) (923) (1,168)
Asset Dispositions 62 18 25
Decrease in Cash Due to Deconsolidation of Venezuelan Subsidiary (320) 0 0
(Increase) Decrease in Restricted Cash (6) 5 14
Short Term Securities Acquired (77) (72) (105)
Short Term Securities Redeemed 69 95 89
Other Transactions (7) 26 9
Total Cash Flows from Investing Activities (1,262) (851) (1,136)
Cash Flows from Financing Activities:      
Short Term Debt and Overdrafts Incurred 103 46 31
Short Term Debt and Overdrafts Paid (84) (24) (120)
Long Term Debt Incurred 2,819 1,842 1,913
Long Term Debt Paid (3,315) (1,555) (681)
Common Stock Issued 53 39 26
Common Stock Repurchased (180) (234) (4)
Common Stock Dividends Paid (68) (60) (12)
Preferred Stock Dividends Paid 0 (15) (29)
Transactions with Minority Interests in Subsidiaries (9) (49) (26)
Debt Related Costs and Other Transactions (33) (1) (16)
Dissolution of Global Alliance (271) 0 0
Total Cash Flows from Financing Activities (985) (11) 1,082
Effect of Exchange Rate Changes on Cash and Cash Equivalents (125) (313) (169)
Net Change in Cash and Cash Equivalents (685) (835) 715
Cash and Cash Equivalents at Beginning of the Year 2,161 2,996 2,281
Cash and Cash Equivalents at End of the Year $ 1,476 $ 2,161 $ 2,996