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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income $ 2,053 $ 1,530
Adjustments to Net income:    
Depreciation 273 316
Amortization of acquisition-related intangibles 159 159
Amortization of capitalized software 23 16
Stock compensation 143 148
Deferred income taxes (45) (35)
Increase (decrease) from changes in:    
Accounts receivable (200) (176)
Inventories (157) (185)
Prepaid expenses and other current assets 12 35
Accounts payable and accrued expenses (66) (1)
Accrued compensation (225) (175)
Income taxes payable (236) 106
Changes in funded status of retirement plans 5 32
Other (27) (8)
Cash flows from operating activities 1,712 1,762
Cash flows from investing activities    
Capital expenditures (278) (282)
Proceeds from asset sales 40 0
Purchases of short-term investments (1,887) (1,193)
Proceeds from short-term investments 2,385 2,110
Other (1) 3
Cash flows from investing activities 259 638
Cash flows from financing activities    
Proceeds from issuance of long-term debt 605 499
Repayment of debt (625) (1,000)
Dividends paid (998) (765)
Stock repurchases (1,200) (1,157)
Proceeds from common stock transactions 245 261
Other (12) (3)
Cash flows from financing activities (1,985) (2,165)
Net change in Cash and cash equivalents (14) 235
Cash and cash equivalents at beginning of period 1,154 1,000
Cash and cash equivalents at end of period $ 1,140 $ 1,235