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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 5,761 $ 6,777
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation 3,188 2,337
Amortization of intangibles 1,221 1,031
Stock-based compensation 468 371
Net (gain)/loss on asset sales and other (828) (18)
Changes in operating assets and liabilities, net of acquisitions/divestitures 1,509 631
Net cash provided by operating activities 11,319 11,128
Cash flows from investing activities:    
Payments for property, plant and equipment (1,710) (2,613)
Proceeds from disposition of property, plant and equipment 452 192
Investment in software (468) (418)
Acquisition of businesses, net of cash acquired (32,630) (123)
Divestitures of businesses, net of cash transferred 927  
Non-operating finance receivables - net 6,096 377
Purchases of marketable securities and other investments (2,813) (6,024)
Proceeds from disposition of marketable securities and other investments 3,081 3,241
Net cash provided by/(used in) investing activities (27,064) (5,368)
Cash flows from financing activities:    
Proceeds from new debt 31,496 4,714
Payments to settle debt (8,891) (4,246)
Short-term borrowings/(repayments) less than 90 days - net (2,140) 376
Common stock repurchases (1,361) (2,393)
Common stock repurchases for tax withholdings (186) (148)
Financing - other 68 82
Cash dividends paid (4,269) (4,250)
Net cash provided by/(used in) financing activities 14,717 (5,864)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (352) (399)
Net change in cash, cash equivalents and restricted cash (1,379) (503)
Cash, cash equivalents and restricted cash at beginning of period 11,604 12,234
Cash, cash equivalents and restricted cash at end of period $ 10,225 $ 11,731