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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 1,174 $ 1,217
Adjustments to net income:    
Depreciation 186 166
Amortization of acquisition-related intangibles 50 79
Amortization of capitalized software 14 13
Stock compensation 63 61
Gains on sales of assets 0 (2)
Deferred taxes (34) 4
Increase (decrease) from changes in:    
Accounts receivable (242) (233)
Inventories (2) 86
Prepaid expenses and other current assets (88) 223
Accounts payable and accrued expenses 0 (67)
Accrued compensation (353) (373)
Income taxes payable 147 (94)
Changes in funded status of retirement plans 27 7
Other (91) 20
Cash flows from operating activities 851 1,107
Cash flows from investing activities    
Capital expenditures (161) (251)
Proceeds from asset sales 0 2
Purchases of short-term investments (646) (149)
Proceeds from short-term investments 1,638 1,584
Other (5) (13)
Cash flows from investing activities 826 1,173
Cash flows from financing activities    
Proceeds from issuance of long-term debt 749 743
Dividends paid (841) (724)
Stock repurchases (1,641) (1,152)
Proceeds from common stock transactions 146 151
Other (9) (16)
Cash flows from financing activities (1,596) (998)
Net change in cash and cash equivalents 81 1,282
Cash and cash equivalents at beginning of period 2,437 2,438
Cash and cash equivalents at end of period $ 2,518 $ 3,720