CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 1,750	$ 2,014
Adjustments to reconcile net income to cash provided by operating activities
Depreciation	709	677
Amortization of intangibles	390	347
Stock-based compensation	129	133
Net (gain)/loss on asset sales and other	13	172
Changes in operating assets and liabilities, net of acquisitions/divestitures	964	2,187	[1],[2]
Net cash provided by operating activities	3,955	5,530	[1],[2]
Cash flows from investing activities:
Payments for property, plant and equipment	(740)	(956)
Proceeds from disposition of property, plant and equipment	58	129
Investment in software	(137)	(144)
Acquisition of businesses, net of cash acquired	(109)	(2,590)
Divestitures of businesses, net of cash transferred	(1)	47
Non-operating finance receivables - net	1,570	1,500	[2]
Purchases of marketable securities and other investments	(1,273)	(1,041)
Proceeds from disposition of marketable securities and other investments	981	1,169
Net cash (used in)/provided by investing activities	350	(1,886)	[2]
Cash flows from financing activities:
Proceeds from new debt	2,887	8,085
Payments to settle debt	(1,531)	(2,211)
Short-term borrowings/(repayments) less than 90 days - net	(880)	(910)
Common stock repurchases	(1,293)	(939)
Common stock repurchases for tax withholdings	(50)	(27)	[1]
Common stock transactions - other	54	59
Cash dividends paid	(1,321)	(1,250)
Net cash (used in)/provided by financing activities	(2,134)	2,806	[1]
Effect of exchange rate changes on cash and cash equivalents	100	217
Net change in cash and cash equivalents	2,270	6,668
Cash and cash equivalents at beginning of period	7,826	7,686
Cash and cash equivalents at end of period	$ 10,096	$ 14,354

[1] Reclassified to reflect adoption of the FASB guidance on share-based compensation.

[2] Revised classification of certain financing receivables.