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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 733 $ 955
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation 631 1,052
Amortization of intangibles 625 620
Stock-based compensation 234 213
Net (gain)/loss on asset sales and other (51) 7
Changes in operating assets and liabilities, net of acquisitions/divestitures 1,076 2,066
Net cash provided by operating activities 3,248 4,914
Cash flows from investing activities    
Payments for property, plant and equipment (281) (494)
Proceeds from disposition of property, plant and equipment 72 139
Investment in software (169) (175)
Acquisition of businesses, net of cash acquired (698) (1,120)
Divestiture of businesses, net of cash transferred 61 (15)
Non-operating finance receivables - net 0 (9)
Purchases of marketable securities and other investments (1,025) (875)
Proceeds from disposition of marketable securities and other investments 682 549
Net cash provided by/(used in) investing activities (1,358) (2,000)
Cash flows from financing activities    
Proceeds from new debt 4,084 51
Payments to settle debt (1,129) (4,261)
Short-term borrowings/(repayments) less than 90 days - net (8) (89)
Common stock repurchases for tax withholdings (80) (41)
Financing - other (15) 15
Cash dividends paid (1,475) (1,457)
Net cash provided by/(used in) financing activities 1,377 (5,783)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (5) (134)
Net change in cash, cash equivalents and restricted cash 3,263 (3,002)
Cash, cash equivalents and restricted cash at January 1 6,957 13,675
Cash, cash equivalents and restricted cash at March 31 $ 10,219 $ 10,673