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Consolidated Cash Flow Statement - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income $ 675 $ 466
Depreciation and amortization 213 234
Stock-based compensation 15 16
Deferred income taxes (9) 11
Net (gains) losses on asset dispositions 7 6
Equity companies' earnings in excess of dividends paid (38) (27)
Operating working capital (144) (375)
Postretirement benefits (14) (12)
Other (1) (2)
Cash Provided by Operations 704 317
Investing Activities    
Capital spending (352) (316)
Investments in time deposits (105) (80)
Maturities of time deposits 96 72
Other 2 0
Cash Used for Investing (359) (324)
Financing Activities    
Cash dividends paid (357) (345)
Change in short-term debt (282) 851
Debt proceeds 1,241 0
Debt repayments (252) (402)
Proceeds from exercise of stock options 108 26
Acquisitions of common stock for the treasury (214) (164)
Other (24) (8)
Cash Used for Financing 220 (42)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (28) 1
Change in Cash and Cash Equivalents 537 (48)
Cash and Cash Equivalents - Beginning of Period 442 539
Cash and Cash Equivalents - End of Period $ 979 $ 491