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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 3,947 $ 4,341
Adjustments to net income:    
Depreciation 522 432
Amortization of acquisition-related intangibles 238 239
Amortization of capitalized software 40 34
Stock compensation 176 190
Gains on sales of assets (23) 0
Deferred taxes 31 (82)
Increase (decrease) from changes in:    
Accounts receivable (135) (307)
Inventories 177 (181)
Prepaid expenses and other current assets 285 568
Accounts payable and accrued expenses (64) 6
Accrued compensation (115) (112)
Income taxes payable (200) 11
Changes in funded status of retirement plans 26 26
Other (10) (121)
Cash flows from operating activities 4,895 5,044
Cash flows from investing activities    
Capital expenditures (684) (808)
Proceeds from asset sales 30 0
Purchases of short-term investments (1,374) (5,308)
Proceeds from short-term investments 2,004 4,545
Other 25 (12)
Cash flows from investing activities 1 (1,583)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 1,491 1,500
Repayment of debt (750) (500)
Dividends paid (2,167) (1,819)
Stock repurchases (2,471) (3,091)
Proceeds from common stock transactions 491 335
Other (35) (40)
Cash flows from financing activities (3,441) (3,615)
Net change in cash and cash equivalents 1,455 (154)
Cash and cash equivalents at beginning of period 2,438 1,656
Cash and cash equivalents at end of period $ 3,893 $ 1,502