XML 24 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Activities:      
Net income $ 5,460 $ 4,644 $ 13,488
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation expense 226 233 177
Amortization expense 1,203 1,053 981
Stock-based compensation expense 845 638 380
Deferred income taxes 289 (82) (119)
In-process research and development impairment 820 0 432
Inventory reserve for excess raw materials 440 0 0
Other 56 304 162
Changes in operating assets and liabilities:      
Accounts receivable, net 480 754 1,192
Inventories (310) (253) (488)
Prepaid expenses and other 903 358 (520)
Accounts payable (39) (430) 47
Income taxes payable (1,459) 5,497 1,010
Accrued liabilities (514) (818) 305
Net cash provided by operating activities 8,400 11,898 17,047
Investing Activities:      
Purchases of marketable securities (10,233) (23,314) (25,619)
Proceeds from sales of marketable securities 1,522 10,440 13,039
Proceeds from maturities of marketable securities 24,336 7,821 1,700
Other investments (346) 0 (357)
Acquisitions, net of cash acquired 0 (10,426) 0
Capital expenditures (924) (590) (748)
Net cash provided by (used in) investing activities 14,355 (16,069) (11,985)
Financing Activities:      
Proceeds from debt financing, net of issuance costs 0 8,985 5,293
Proceeds from convertible note hedges 0 0 956
Proceeds from issuances of common stock 289 234 208
Repurchases of common stock (2,900) (954) (11,001)
Repayments of debt and other obligations (6,250) (1,811) (1,981)
Payments to settle warrants 0 0 (469)
Payment of dividends (2,971) (2,731) (2,455)
Other (486) (330) (276)
Net cash provided by (used in) financing activities (12,318) 3,393 (9,725)
Effect of exchange rate changes on cash and cash equivalents (85) 137 41
Net change in cash and cash equivalents 10,352 (641) (4,622)
Cash and cash equivalents at beginning of period 7,588 8,229 12,851
Cash and cash equivalents at end of period 17,940 7,588 8,229
Supplemental disclosure of cash flow information:      
Interest paid, net of amounts capitalized 1,070 1,038 885
Income taxes paid $ 3,198 $ 3,342 $ 2,436