| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||
Consolidated net income | ||||||||||||
2,268,000 | 2,187,000 | 994,000 | 1,456,000 | 1,470,000 | 1,736,000 | 1,588,000 | 1,738,000 | 1,946,000 | 1,140,000 | 484,000 | 818,000 | 788,000 |
Adjustments to reconcile consolidated net income to net cash provided by operating activities | ||||||||||||
Impact of tax legislation, net (Note 5) | ||||||||||||
- | 15,000 | 820,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Depreciation and amortization | ||||||||||||
672,000 | 611,000 | 583,000 | 530,000 | 514,000 | 455,000 | 407,000 | 361,000 | 325,000 | 320,000 | 326,000 | 314,000 | 290,000 |
Gains on fair value adjustment for consolidated investees (Note 18) | ||||||||||||
- | - | - | - | 18,000 | 73,000 | 12,000 | 7,000 | 0 | 12,000 | - | - | - |
Gain on sale of businesses (Note 2) | ||||||||||||
- | - | - | - | - | - | - | - | 121,000 | - | - | - | - |
Gain on sale of equity investment | ||||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - | - |
(Gain) loss on investments | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | -45,000 | - |
Deferred income taxes | ||||||||||||
-4,000 | -97,000 | -54,000 | 50,000 | -108,000 | 31,000 | 100,000 | 116,000 | 85,000 | 56,000 | 5,000 | -1,000 | 60,000 |
Equity in income of investees, net of dividends | ||||||||||||
14,000 | 93,000 | 123,000 | 46,000 | 36,000 | 100,000 | 62,000 | 15,000 | 23,000 | 147,000 | -23,000 | 45,000 | 75,000 |
Pension and OPEB expense (Note 4) | ||||||||||||
75,000 | 97,000 | 102,000 | - | - | - | - | - | - | - | - | - | - |
Payment for Pension and Other Postretirement Benefits | ||||||||||||
150,000 | 67,000 | 268,000 | - | - | - | - | - | - | - | - | - | - |
Pension contributions under (in excess of) expense, net (Note 4) | ||||||||||||
- | - | - | 92,000 | 127,000 | -148,000 | -82,000 | -68,000 | -131,000 | -151,000 | -36,000 | -31,000 | -152,000 |
Other postretirement benefits payments in excess of expense, net (Note 4) | ||||||||||||
- | - | - | 25,000 | 23,000 | 28,000 | 25,000 | -21,000 | -31,000 | -35,000 | -24,000 | -35,000 | -28,000 |
Stock-based compensation expense | ||||||||||||
49,000 | 53,000 | 41,000 | 32,000 | 24,000 | 36,000 | 37,000 | 36,000 | 42,000 | 22,000 | 20,000 | 28,000 | 28,000 |
Loss contingency payments | ||||||||||||
115,000 | 0 | 0 | - | 64,000 | 0 | 0 | - | - | - | 16,000 | 34,000 | - |
Loss contingency charges, net of payments (Note 9) | ||||||||||||
- | - | - | 122,000 | 60,000 | 0 | - | - | - | - | - | - | - |
Impairment of light-duty diesel assets (Note 19) | ||||||||||||
- | - | - | - | 211,000 | 0 | 0 | - | - | - | - | - | - |
Loss contingency (Note 10) | ||||||||||||
- | - | - | - | - | - | 0 | - | - | - | - | - | - |
Restructuring and other charges and credits, net of cash payments (Note 19) | ||||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - | - |
(Gain) loss on corporate owned life insurance | ||||||||||||
61,000 | -26,000 | 52,000 | 22,000 | -6,000 | - | - | - | - | - | - | - | - |
Foreign currency remeasurement and transaction exposure | ||||||||||||
105,000 | 46,000 | -71,000 | 55,000 | -26,000 | 13,000 | -17,000 | 0 | -4,000 | -13,000 | -41,000 | 10,000 | 24,000 |
Excess tax benefits on stock-based awards | ||||||||||||
- | - | - | - | - | - | - | - | 5,000 | 10,000 | -1,000 | 13,000 | 11,000 |
Changes in current assets and liabilities | ||||||||||||
Accounts and notes receivable | ||||||||||||
-195,000 | 363,000 | 508,000 | 265,000 | -103,000 | 89,000 | 148,000 | -87,000 | - | - | - | - | - |
Inventories | ||||||||||||
-291,000 | 695,000 | 407,000 | 4,000 | -150,000 | 256,000 | 46,000 | 32,000 | - | - | - | - | - |
Other current assets | ||||||||||||
95,000 | 162,000 | 12,000 | -14,000 | 151,000 | -1,000 | -212,000 | 60,000 | - | - | - | - | - |
Accounts payable | ||||||||||||
-310,000 | 302,000 | 639,000 | 188,000 | -130,000 | 244,000 | 163,000 | -256,000 | - | - | - | - | - |
Accrued expenses | ||||||||||||
-112,000 | 371,000 | 383,000 | -195,000 | -226,000 | 168,000 | -246,000 | -514,000 | - | - | - | - | - |
Changes in other liabilities | ||||||||||||
-240,000 | -75,000 | -241,000 | -200,000 | -292,000 | -282,000 | -211,000 | -214,000 | 139,000 | 133,000 | 155,000 | 109,000 | 95,000 |
Changes in current assets and liabilities, net of acquisitions and divestitures (Note 1) | ||||||||||||
- | - | - | - | - | - | - | - | 154,000 | 245,000 | -127,000 | 267,000 | 139,000 |
Other, net | ||||||||||||
-127,000 | -164,000 | 173,000 | -51,000 | 36,000 | -20,000 | 25,000 | 47,000 | 3,000 | 78,000 | 1,000 | 41,000 | -22,000 |
Net cash (used in) provided by operating activities | ||||||||||||
3,181,000 | 2,378,000 | 2,277,000 | 1,939,000 | 2,065,000 | 2,266,000 | 2,089,000 | 1,532,000 | 2,073,000 | 1,006,000 | 1,137,000 | 987,000 | 810,000 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||
Capital expenditures | ||||||||||||
700,000 | 709,000 | 506,000 | 531,000 | 744,000 | 743,000 | 676,000 | 690,000 | 622,000 | 364,000 | 310,000 | 543,000 | 353,000 |
Investments in internal use software | ||||||||||||
75,000 | 75,000 | 81,000 | 63,000 | 55,000 | 55,000 | 64,000 | 87,000 | 60,000 | 43,000 | 35,000 | 82,000 | 67,000 |
Proceeds from disposals of property, plant and equipment | ||||||||||||
23,000 | 20,000 | 110,000 | 14,000 | 25,000 | - | - | - | 8,000 | 55,000 | 10,000 | 29,000 | 44,000 |
Investments in and advances to equity investees | ||||||||||||
20,000 | 37,000 | 66,000 | 41,000 | 7,000 | 60,000 | 42,000 | 70,000 | 81,000 | 2,000 | 3,000 | 89,000 | 66,000 |
Acquisitions of businesses, net of cash acquired (Note 21) | ||||||||||||
237,000 | 70,000 | 662,000 | 94,000 | 117,000 | 436,000 | 147,000 | 215,000 | 0 | 104,000 | 2,000 | 142,000 | 20,000 |
Proceeds from sale of businesses, net of cash sold (Note 2) | ||||||||||||
- | - | - | - | - | - | - | - | 199,000 | - | - | 64,000 | - |
Investments in marketable securities—acquisitions | ||||||||||||
495,000 | 368,000 | 194,000 | 478,000 | 282,000 | 275,000 | 418,000 | 561,000 | 729,000 | 823,000 | 431,000 | 390,000 | 405,000 |
Investments in marketable securities—liquidations (Note 7) | ||||||||||||
389,000 | 331,000 | 266,000 | 306,000 | 270,000 | 336,000 | 525,000 | 585,000 | 750,000 | 690,000 | 335,000 | 409,000 | 395,000 |
Proceeds from sale of equity investees (Note 3) | ||||||||||||
- | - | - | 60,000 | 0 | 4,000 | - | - | 0 | - | - | - | 35,000 |
Purchases of other investments | ||||||||||||
- | - | - | - | - | - | - | 0 | 0 | 62,000 | 62,000 | 62,000 | 57,000 |
Cash flows from derivatives not designated as hedges | ||||||||||||
44,000 | 102,000 | -76,000 | 102,000 | -8,000 | 14,000 | -1,000 | -12,000 | 18,000 | -2,000 | 18,000 | 53,000 | 14,000 |
Other, net | ||||||||||||
-9,000 | -36,000 | -5,000 | -12,000 | 16,000 | -9,000 | 25,000 | -44,000 | -1,000 | - | -7,000 | -11,000 | 7,000 |
Net cash used in investing activities | ||||||||||||
-1,150,000 | -974,000 | -1,052,000 | -917,000 | -918,000 | -1,234,000 | -846,000 | -982,000 | -552,000 | -651,000 | -509,000 | -848,000 | -515,000 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||
Proceeds from borrowings | ||||||||||||
- | - | - | 111,000 | 44,000 | 55,000 | 1,004,000 | 64,000 | 127,000 | 214,000 | 76,000 | 76,000 | 15,000 |
Net borrowings (payments) of commercial paper (Note 9) | ||||||||||||
-120,000 | 482,000 | 86,000 | 212,000 | 0 | 0 | - | - | - | - | - | - | - |
Payments on borrowings and finance lease obligations | ||||||||||||
96,000 | 62,000 | 60,000 | 163,000 | 76,000 | 94,000 | 90,000 | 145,000 | 237,000 | 143,000 | 97,000 | 152,000 | 144,000 |
Net borrowings under short-term credit agreements | ||||||||||||
53,000 | 1,000 | 12,000 | 19,000 | -41,000 | -40,000 | -3,000 | - | 6,000 | 9,000 | -2,000 | 33,000 | -12,000 |
Distributions to noncontrolling interests | ||||||||||||
33,000 | 30,000 | 29,000 | 65,000 | 49,000 | 83,000 | 75,000 | 62,000 | 56,000 | 28,000 | 34,000 | 24,000 | 18,000 |
Dividend payments on common stock | ||||||||||||
761,000 | 718,000 | 701,000 | 676,000 | 622,000 | 512,000 | 420,000 | 340,000 | 255,000 | 172,000 | 141,000 | 122,000 | 89,000 |
Repurchases of common stock | ||||||||||||
1,271,000 | 1,140,000 | 451,000 | 778,000 | 900,000 | 670,000 | 381,000 | 256,000 | 629,000 | 241,000 | 20,000 | 128,000 | 335,000 |
Acquisitions of noncontrolling interests (Note 19) | ||||||||||||
- | - | - | -98,000 | -10,000 | -14,000 | - | - | - | - | - | - | - |
Proceeds from sale of common stock held by employee benefit trust (Note 15) | ||||||||||||
- | - | - | - | - | - | - | - | - | 58,000 | 72,000 | 63,000 | 13,000 |
Excess tax benefits on stock-based awards | ||||||||||||
- | - | - | - | - | - | - | - | 5,000 | 10,000 | -1,000 | 13,000 | 11,000 |
Other, net | ||||||||||||
133,000 | 67,000 | 69,000 | 25,000 | 4,000 | 15,000 | 17,000 | 45,000 | 14,000 | 26,000 | 6,000 | 4,000 | -17,000 |
Net cash used in financing activities | ||||||||||||
-2,095,000 | -1,400,000 | -1,074,000 | -1,413,000 | -1,650,000 | -1,343,000 | 52,000 | -694,000 | -1,025,000 | -267,000 | -141,000 | -237,000 | -576,000 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | ||||||||||||
-110,000 | -70,000 | 98,000 | -200,000 | -87,000 | -87,000 | 35,000 | 29,000 | -35,000 | 5,000 | 17,000 | -53,000 | 18,000 |
Net increase in cash and cash equivalents | ||||||||||||
-174,000 | -66,000 | 249,000 | -591,000 | -590,000 | -398,000 | 1,330,000 | -115,000 | 461,000 | 93,000 | 504,000 | -151,000 | -263,000 |