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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 5,743 $ 5,590 $ 9,431
Adjustments to reconcile net income to cash provided by operating activities      
Depreciation 3,888 4,227 4,209
Amortization of intangibles 2,529 2,468 1,850
Stock-based compensation 982 937 679
Deferred taxes (2,001) (3,203) (1,527)
Net (gain)/loss on asset sales and other (307) (70) (1,096)
Change in operating assets and liabilities, net of acquisitions/divestitures      
Receivables (including financing receivables) 1,372 5,297 502
Retirement related 1,038 936 301
Inventory 138 (209) 67
Other assets/other liabilities (671) 2,087 858
Accounts payable 85 138 (503)
Net cash provided by operating activities 12,796 18,197 14,770
Cash flows from investing activities      
Payments for property, plant and equipment (2,062) (2,618) (2,286)
Proceeds from disposition of property, plant and equipment 387 188 537
Investment in software (706) (612) (621)
Purchases of marketable securities and other investments (3,561) (6,246) (3,693)
Proceeds from disposition of marketable securities and other investments 3,147 5,618 3,961
Non-operating finance receivables - net 0 475 6,720
Acquisition of businesses, net of cash acquired (3,293) (336) (32,630)
Divestiture of businesses, net of cash transferred 114 503 1,076
Net cash provided by/(used in) investing activities (5,975) (3,028) (26,936)
Cash flows from financing activities      
Proceeds from new debt 522 10,504 31,825
Payments to settle debt (8,597) (13,365) (12,944)
Short-term borrowings/(repayments) less than 90 days - net (40) (853) (2,597)
Common stock repurchases     (1,361)
Common stock repurchases for tax withholdings (319) (302) (272)
Financing - other 70 92 99
Distribution from Kyndryl 879    
Cash dividends paid (5,869) (5,797) (5,707)
Net cash provided by/(used in) financing activities (13,354) (9,721) 9,042
Effect of exchange rate changes on cash, cash equivalents and restricted cash (185) (87) (167)
Net change in cash, cash equivalents and restricted cash (6,718) 5,361 (3,290)
Cash, cash equivalents and restricted cash at January 1 13,675 8,314 11,604
Cash, cash equivalents and restricted cash at December 31 6,957 13,675 8,314
Supplemental data      
Income taxes paid-net of refunds received 2,103 2,253 2,091
Interest paid on debt $ 1,512 $ 1,830 $ 1,685