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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income $ 2,415 $ 2,150
Adjustments to Net income:    
Depreciation 466 594
Amortization of acquisition-related intangibles 239 240
Amortization of capitalized software 23 38
Stock-based compensation 204 228
Gains on sales of assets 0 (3)
Deferred income taxes (160) (106)
Increase (decrease) from changes in:    
Accounts receivable (274) (241)
Inventories (117) 13
Prepaid expenses and other current assets 130 89
Accounts payable and accrued expenses (56) (190)
Accrued compensation (26) (37)
Income taxes payable 153 21
Changes in funded status of retirement plans 56 65
Other (24) (23)
Cash flows from operating activities 3,029 2,838
Cash flows from investing activities    
Capital expenditures (421) (387)
Proceeds from asset sales 0 10
Purchases of short-term investments (2,171) (1,713)
Proceeds from short-term investments 2,625 2,455
Other 2 8
Cash flows from investing activities 35 373
Cash flows from financing activities    
Proceeds from issuance of long-term debt 499 498
Repayment of debt (1,000) (1,000)
Dividends paid (1,147) (1,058)
Stock repurchases (1,657) (2,114)
Proceeds from common stock transactions 484 332
Excess tax benefit from share-based payments 129 68
Other (3) (3)
Cash flows from financing activities (2,695) (3,277)
Net change in Cash and cash equivalents 369 (66)
Cash and cash equivalents at beginning of period 1,000 1,199
Cash and cash equivalents at end of period $ 1,369 $ 1,133