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CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 284 $ 523
Adjustments to reconcile net income to cash provided by operating activities:    
Merger & integration charges 82  
Depreciation and amortization [1] 989 967
Pension and other postretirement benefits expense 37 60
Stock-based compensation expense 88 61
Pension and other postretirement benefits funding (29) (45)
Earnings of equity method investments, less dividends received (10) (25)
Change in assets and liabilities:    
Decrease in receivables [2] 58 414
(Increase) decrease in inventories [2] (33) 125
(Increase) decrease in other current assets [2] (115) 85
(Increase) decrease in other assets [2] (56) 5
Decrease in accounts payable and accrued liabilities [2] (670) (983)
Decrease in estimated liability for taxes on income [2] (31) (104)
(Decrease) increase in other liabilities [2] (28) 2
Other [2] 90 125
NET CASH PROVIDED BY OPERATING ACTIVITIES 656 1,210
Cash flows from investing activities:    
Capital expenditures (381) (549)
SPM investments (144) (597)
Multiclient seismic data costs capitalized (116) (167)
Business acquisitions and investments, net of cash acquired (273) (81)
Sale (purchase) of investments, net 883 (2,093)
Other (24) (26)
NET CASH USED IN INVESTING ACTIVITIES (55) (3,513)
Cash flows from financing activities:    
Dividends paid (696) (629)
Proceeds from employee stock purchase plan 96 116
Proceeds from exercise of stock options 39 47
Stock repurchase program (372) (475)
Proceeds from issuance of long-term debt 334 3,542
Repayment of long-term debt (1) (500)
Net decrease in short-term borrowings (1,015) (561)
Other (22) 47
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (1,637) 1,587
Net decrease in cash before translation effect (1,036) (716)
Translation effect on cash 9 3
Cash, beginning of period 2,929 2,793
Cash, end of period $ 1,902 $ 2,080
[1] Includes depreciation of property, plant and equipment and amortization of intangible assets, multiclient seismic data costs and SPM investments.
[2] Net of the effect of business acquisitions.