Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net income	$ 2,554	$ 2,522
Adjustments to net income:
Depreciation	370	339
Amortization of acquisition-related intangibles	100	159
Amortization of capitalized software	29	27
Stock compensation	132	128
Gains on sales of assets	(1)	(23)
Deferred taxes	(64)	35
Increase (decrease) from changes in:
Accounts receivable	(102)	(212)
Inventories	(135)	138
Prepaid expenses and other current assets	(25)	241
Accounts payable and accrued expenses	73	(93)
Accrued compensation	(205)	(244)
Income taxes payable	(108)	(107)
Changes in funded status of retirement plans	17	9
Other	(64)	(16)
Cash flows from operating activities	2,571	2,903
Cash flows from investing activities
Capital expenditures	(291)	(535)
Proceeds from asset sales	1	30
Purchases of short-term investments	(895)	(388)
Proceeds from short-term investments	3,448	1,784
Other	0	24
Cash flows from investing activities	2,263	915
Cash flows from financing activities
Proceeds from issuance of long-term debt	1,498	743
Repayment of debt	(500)	0
Dividends paid	(1,664)	(1,446)
Stock repurchases	(2,523)	(2,015)
Proceeds from common stock transactions	233	297
Other	(21)	(22)
Cash flows from financing activities	(2,977)	(2,443)
Net change in cash and cash equivalents	1,857	1,375
Cash and cash equivalents at beginning of period	2,437	2,438
Cash and cash equivalents at end of period	$ 4,294	$ 3,813