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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income before allocation to noncontrolling interests $ 22,025 $ 9,195 $ 16,056
Discontinued operations––net of tax (434) 2,529 5,318
Net income from continuing operations before allocation to noncontrolling interests 22,459 6,666 10,738
Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities:      
Depreciation and amortization 5,191 4,681 5,755
Asset write-offs and impairments 276 2,049 2,889
TCJA impact 0 0 (323)
Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed [1] 0 (6) (8,254)
Deferred taxes from continuing operations (4,293) (1,575) 561
Share-based compensation expense 1,182 755 687
Benefit plan contributions in excess of expense/income (3,123) (1,242) (55)
Other adjustments, net (1,573) (479) (1,080)
Other changes in assets and liabilities, net of acquisitions and divestitures:      
Trade accounts receivable (3,811) (1,275) (1,124)
Inventories (1,125) (778) (1,071)
Other assets (1,057) (137) 847
Trade accounts payable 1,242 355 (341)
Other liabilities 18,721 2,768 861
Other tax accounts, net (1,166) (1,240) (3,074)
Net cash provided by operating activities from continuing operations 32,922 10,540 7,015
Net cash provided by/(used in) operating activities from discontinued operations (343) 3,863 5,572
Net cash provided by operating activities 32,580 14,403 12,588
Investing Activities      
Purchases of property, plant and equipment (2,711) (2,226) (2,046)
Purchases of short-term investments (38,457) (13,805) (6,835)
Proceeds from redemptions/sales of short-term investments 27,447 11,087 9,183
Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less (8,088) 920 6,925
Purchases of long-term investments (1,068) (597) (201)
Proceeds from redemptions/sales of long-term investments 649 723 232
Acquisitions of businesses, net of cash acquired 0 0 (10,861)
Other investing activities, net [1] (305) (265) (223)
Net cash provided by/(used in) investing activities from continuing operations (22,534) (4,162) (3,825)
Net cash provided by/(used in) investing activities from discontinued operations (12) (109) (120)
Net cash provided by/(used in) investing activities (22,546) (4,271) (3,945)
Financing Activities      
Proceeds from short-term borrowings 0 12,352 16,455
Principal payments on short-term borrowings 0 (22,197) (8,378)
Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less (96) (4,129) 2,551
Proceeds from issuance of long-term debt 997 5,222 4,942
Principal payments on long-term debt (2,004) (4,003) (6,806)
Purchases of common stock 0 0 (8,865)
Cash dividends paid (8,729) (8,440) (8,043)
Other financing activities, net 16 (444) (342)
Net cash provided by/(used in) financing activities from continuing operations (9,816) (21,640) (8,485)
Net cash provided by/(used in) financing activities from discontinued operations 0 11,991 0
Net cash provided by/(used in) financing activities (9,816) (9,649) (8,485)
Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents (59) (8) (32)
Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents 159 475 125
Cash and cash equivalents and restricted cash and cash equivalents, at beginning of period 1,825 1,350 1,225
Cash and cash equivalents and restricted cash and cash equivalents, at end of period 1,983 1,825 1,350
Cash paid/(received) during the period for:      
Income taxes 7,427 3,153 3,664
Interest paid 1,467 1,641 1,587
Interest rate hedges (2) (20) (42)
Non-cash transactions:      
Right-of-use assets obtained in exchange for lease liabilities 1,943 410 314
Consumer Healthcare JV [Member]      
Adjustments to reconcile net income before allocation to noncontrolling interests to net cash provided by operating activities:      
Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed     (8,300)
Non-cash transactions:      
Equity investment in exchange for Pfizer's assets [1] $ 0 $ 0 $ 15,711
[1] The $8.3 billion Gain on completion of Consumer Healthcare JV transaction, net of cash conveyed reflects the receipt of a 32% equity-method investment in the new company initially valued at $15.7 billion in exchange for net assets contributed of $7.6 billion and is presented in operating activities net of $146 million cash conveyed that is reflected in Other investing activities, net. See Note 2C.