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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 955 $ 1,175
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation 1,052 1,012
Amortization of intangibles 620 622
Stock-based compensation 213 189
Net (gain)/loss on asset sales and other 7 315
Changes in operating assets and liabilities, net of acquisitions/divestitures 2,066 1,162
Net cash provided by operating activities 4,914 4,476
Cash flows from investing activities    
Payments for property, plant and equipment (494) (630)
Proceeds from disposition of property, plant and equipment 139 46
Investment in software (175) (153)
Acquisition of businesses, net of cash acquired (1,120) (13)
Divestiture of businesses, net of cash transferred (15) 26
Non-operating finance receivables - net (9) (20)
Purchases of marketable securities and other investments (875) (1,096)
Proceeds from disposition of marketable securities and other investments 549 938
Net cash provided by/(used in) investing activities (2,000) (902)
Cash flows from financing activities    
Proceeds from new debt 51 6,055
Payments to settle debt (4,261) (5,285)
Short-term borrowings/(repayments) less than 90 days - net (89) 586
Common stock repurchases for tax withholdings (41) (44)
Financing - other 15 13
Cash dividends paid (1,457) (1,440)
Net cash provided by/(used in) financing activities (5,783) (115)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (134) (403)
Net change in cash, cash equivalents and restricted cash (3,002) 3,057
Cash, cash equivalents and restricted cash at January 1 13,675 8,314
Cash, cash equivalents and restricted cash at December 31 $ 10,673 $ 11,371