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Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Provided by (Used for) Operating Activities:      
Net income $ 2,521 $ 2,563 $ 1,687
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 267 272 256
Amortization and impairment of intangible assets 159 189 206
Change in deferred income taxes 32 34 64
Provision for uncollectible accounts 6 5 3
(Income) loss from investments (15) (9) (16)
(Gain) loss on sale of plant and equipment (9) (7) (1)
(Gain) loss on sale of operations and affiliates (44) 2 (1)
Stock-based compensation expense 41 40 36
Other non-cash items, net 9 10 10
(Increase) decrease in—      
Trade receivables 40 (60) (138)
Inventories 98 (108) (81)
Prepaid expenses and other assets 11 3 (121)
Increase (decrease) in—      
Accounts payable (16) (46) 39
Accrued expenses and other liabilities (95) (36) (42)
Income taxes (7) (41) 501
Other, net (3) 0 0
Net cash provided by operating activities 2,995 2,811 2,402
Cash Provided by (Used for) Investing Activities:      
Acquisition of businesses (excluding cash and equivalents) (4) 0 (3)
Additions to plant and equipment (326) (364) (297)
Proceeds from investments 20 16 43
Proceeds from sale of plant and equipment 25 26 14
Proceeds from sale of operations and affiliates 120 1 2
Other, net (18) (4) (10)
Net cash provided by (used for) investing activities (183) (325) (251)
Cash Provided by (Used for) Financing Activities:      
Cash dividends paid (1,321) (1,124) (941)
Issuance of common stock 85 22 84
Repurchases of common stock (1,500) (2,000) (1,000)
Net proceeds from (repayments of) debt with original maturities of three months or less (1) (850) 849
Proceeds from debt with original maturities of more than three months 1,774 0 0
Repayments of debt with original maturities of more than three months (1,351) (1) (652)
Other, net (12) (11) (14)
Net cash provided by (used for) financing activities (2,326) (3,964) (1,674)
Effect of Exchange Rate Changes on Cash and Equivalents (9) (112) 145
Cash and Equivalents:      
Increase (decrease) during the year 477 (1,590) 622
Beginning of year 1,504 3,094 2,472
End of year 1,981 1,504 3,094
Supplementary Cash Flow Information:      
Cash Paid During the Year for Interest 223 247 240
Cash Paid During the Year for Income Taxes, Net of Refunds $ 742 $ 838 $ 1,018