XML 23 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net income $ 3,682 $ 3,595 $ 2,986
Adjustments to Net income:      
Depreciation 539 605 766
Amortization of acquisition-related intangibles 318 319 319
Amortization of capitalized software 47 31 48
Stock compensation 242 252 286
Gains on sales of assets 0 (40) (85)
Deferred taxes 112 (202) (55)
Increase (decrease) from changes in:      
Accounts receivable (7) (108) 77
Inventories (167) (99) 93
Prepaid expenses and other current assets 76 (81) 94
Accounts payable and accrued expenses 51 72 (142)
Accrued compensation (3) 36 7
Income taxes payable 468 333 11
Changes in funded status of retirement plans 21 (73) (23)
Other (16) (26) 15
Cash flows from operating activities 5,363 4,614 4,397
Cash flows from investing activities      
Capital expenditures (695) (531) (551)
Proceeds from asset sales 40 0 110
Purchases of short-term investments (4,555) (3,503) (2,767)
Proceeds from short-term investments 4,095 3,390 2,892
Other (12) (6) 14
Cash flows from investing activities (1,127) (650) (302)
Cash flows from financing activities      
Proceeds from issuance of long-term debt 1,099 499 498
Repayment of debt (625) (1,000) (1,000)
Dividends paid (2,104) (1,646) (1,444)
Stock repurchases (2,556) (2,132) (2,741)
Proceeds from common stock transactions [1] 483 472 396
Other (31) (3) (3)
Cash flows from financing activities (3,734) (3,810) (4,294)
Net change in Cash and cash equivalents 502 154 (199)
Cash and cash equivalents at beginning of period 1,154 1,000 1,199
Cash and cash equivalents at end of period $ 1,656 $ 1,154 $ 1,000
[1] Net of taxes paid for employee shares withheld of $83 million in 2017, $70 million in 2016 and $46 million in 2015.