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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net Income $ 3,696 $ 2,938 $ 2,225
Loss from discontinued operations 0 0 3
Income from continuing operations 3,696 2,938 2,228
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:      
Depreciation of property, plant and equipment 564 526 439
Amortization of acquisition-related intangible assets 1,713 1,741 1,594
Change in deferred income taxes (302) (379) (1,098)
Gain on sales of businesses (482) 0 0
Non-cash stock-based compensation 181 181 159
Loss on early extinguishment of debt 184 3 4
Other non-cash expenses, net 84 103 186
Changes in assets and liabilities, excluding the effects of acquisitions and disposition:      
Accounts receivable (225) (366) (362)
Inventories (458) (324) (81)
Other assets (408) 54 (153)
Accounts payable 266 201 274
Other liabilities 210 (42) 1,016
Contributions to retirement plans (50) (93) (200)
Net cash provided by continuing operations 4,973 4,543 4,006
Net cash used in discontinued operations 0 0 (1)
Net cash provided by operating activities 4,973 4,543 4,005
Investing Activities      
Acquisitions, net of cash acquired (1,843) (536) (7,226)
Proceeds from sale of business, net of cash divested 1,128 0 0
Purchase of property, plant and equipment (926) (758) (508)
Proceeds from sale of property, plant and equipment 36 50 7
Other investing activities, net 118 (9) (2)
Net cash used in investing activities (1,487) (1,253) (7,729)
Financing Activities      
Net proceeds from issuance of debt 5,638 690 6,459
Repayment of debt (6,360) (2,052) (3,299)
Proceeds from issuance of commercial paper 2,781 5,060 8,380
Repayments of commercial paper (3,464) (5,254) (8,514)
Purchases of company common stock (1,500) (500) (750)
Dividends paid (297) (266) (237)
Net proceeds from issuance of company common stock 0 0 1,690
Net proceeds from issuance of company common stock under employee stock plans 153 136 128
Other financing activities, net (69) (51) (3)
Net cash (used in) provided by financing activities (3,118) (2,237) 3,854
Exchange Rate Effect on Cash (63) (297) 420
Increase in Cash, Cash Equivalents and Restricted Cash 305 756 550
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 2,117 1,361 811
Cash, Cash Equivalents and Restricted Cash at End of Period $ 2,422 $ 2,117 $ 1,361