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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 6,338 $ 5,955 $ 6,960
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property, plant and equipment 1,156 1,068 986
Amortization of acquisition-related intangible assets 1,952 2,338 2,395
Change in deferred income taxes (1,209) (1,300) (995)
Stock-based compensation 301 278 307
Other net non-cash expenses 508 604 550
Changes in assets and liabilities, excluding the effects of acquisitions:      
Accounts receivable (171) (43) (430)
Inventories (27) 598 (825)
Contract assets/liabilities (162) 252 (354)
Accounts payable 212 (500) 648
Contributions to retirement plans (45) (42) (41)
Other (186) (802) (47)
Net cash provided by operating activities 8,667 8,406 9,154
Investing activities      
Purchases of property, plant and equipment (1,400) (1,479) (2,243)
Proceeds from sale of property, plant and equipment 57 87 24
Proceeds from cross-currency interest rate swap interest settlements 252 70 15
Acquisitions, net of cash acquired (3,132) (3,660) (39)
Purchases of investments (3,396) (208) (52)
Proceeds from sales and maturities of investments 1,770 15 116
Other investing activities, net 8 33 20
Net cash used in investing activities (5,841) (5,142) (2,159)
Financing activities      
Net proceeds from issuance of debt 1,204 5,942 3,193
Repayment of debt (3,607) (5,782) (375)
Proceeds from issuance of commercial paper 0 1,620 1,526
Repayments of commercial paper 0 (1,935) (3,690)
Purchases of company common stock (4,000) (3,000) (3,000)
Dividends paid (583) (523) (455)
Other financing activities, net 195 56 (9)
Net cash used in financing activities (6,792) (3,622) (2,810)
Exchange rate effect on cash (91) (82) (139)
(Decrease) increase in cash, cash equivalents and restricted cash (4,057) (440) 4,046
Cash, cash equivalents and restricted cash at beginning of year 8,097 8,537 4,491
Cash, cash equivalents and restricted cash at end of year $ 4,040 $ 8,097 $ 8,537