CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 6,807	$ 7,371
Adjustments to reconcile net income to cash provided by operating activities
Depreciation	2,231	2,106
Amortization of intangibles	1,161	1,148
Stock-based compensation	388	403
Net (gain)/loss on asset sales and other	92	100
Changes in operating assets and liabilities, net of acquisitions/divestitures	312	1,978	[1],[2]
Net cash provided by operating activities	10,991	13,105	[1],[2]
Cash flows from investing activities:
Payments for property, plant and equipment	(2,273)	(2,594)
Proceeds from disposition of property, plant and equipment	337	234
Investment in software	(411)	(441)
Acquisition of businesses, net of cash acquired	(442)	(5,445)
Divestitures of businesses, net of cash transferred	35	35
Non-operating finance receivables - net	469	1,441	[2]
Purchases of marketable securities and other investments	(3,770)	(4,021)
Proceeds from disposition of marketable securities and other investments	2,778	3,501
Net cash used in investing activities	(3,278)	(7,289)	[2]
Cash flows from financing activities:
Proceeds from new debt	9,355	8,368
Payments to settle debt	(6,252)	(5,616)
Short-term borrowings/(repayments) less than 90 days - net	(794)	(864)
Common stock repurchases	(3,674)	(2,632)
Common stock repurchases for tax withholdings	(153)	(115)	[1]
Common stock transactions - other	137	166
Cash dividends paid	(4,119)	(3,927)
Net cash used in financing activities	(5,499)	(4,619)	[1]
Effect of exchange rate changes on cash and cash equivalents	875	155
Net change in cash and cash equivalents	3,089	1,352
Cash and cash equivalents at beginning of period	7,826	7,686
Cash and cash equivalents at end of period	$ 10,915	$ 9,039

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

[2] Revised classification of certain financing receivables.