CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income	$ 4,082	$ 4,518
Adjustments to reconcile net income to cash provided by operating activities
Depreciation	1,439	1,382
Amortization of intangibles	777	745
Stock-based compensation	265	261
Net (gain)/loss on asset sales and other	74	167
Changes in operating assets and liabilities, net of acquisitions/divestitures	785	1,915	[1],[2]
Net cash provided by operating activities	7,421	8,988	[1],[2]
Cash flows from investing activities:
Payments for property, plant and equipment	(1,425)	(1,826)
Proceeds from disposition of property, plant and equipment	136	172
Investment in software	(278)	(295)
Acquisition of businesses, net of cash acquired	(169)	(5,405)
Divestitures of businesses, net of cash transferred	29	35
Non-operating finance receivables - net	816	1,340	[2]
Purchases of marketable securities and other investments	(2,346)	(2,386)
Proceeds from disposition of marketable securities and other investments	1,883	2,028
Net cash used in investing activities	(1,355)	(6,338)	[2]
Cash flows from financing activities:
Proceeds from new debt	5,835	8,263
Payments to settle debt	(2,106)	(3,425)
Short-term borrowings/(repayments) less than 90 days - net	(973)	(909)
Common stock repurchases	(2,725)	(1,775)
Common stock repurchases for tax withholdings	(147)	(112)	[1]
Common stock transactions - other	97	115
Cash dividends paid	(2,724)	(2,590)
Net cash used in financing activities	(2,743)	(434)	[1]
Effect of exchange rate changes on cash and cash equivalents	547	114
Net change in cash and cash equivalents	3,870	2,330
Cash and cash equivalents at beginning of period	7,826	7,686
Cash and cash equivalents at end of period	$ 11,696	$ 10,017

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

[2] Revised classification of certain financing receivables.