| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||
Net income | |||||||||
2,213 | 2,146 | 2,986 | 1,919 | 1,974 | 1,803 | 1,873 | 1,220 | 1,352 | 937 |
Adjustments to reconcile to net cash provided by operating activities | |||||||||
Depreciation and amortization | |||||||||
884 | 903 | 914 | 929 | 925 | 983 | 997 | 598 | 556 | 551 |
Deferred income taxes | |||||||||
71 | 115 | 206 | 83 | 105 | 382 | 311 | 155 | 113 | -26 |
Pension and other postretirement benefits expense | |||||||||
157 | 159 | 208 | 235 | 323 | 293 | 384 | 335 | 295 | 179 |
Contributions to pension plans | |||||||||
119 | 126 | 473 | 262 | 330 | 362 | 341 | 413 | 372 | 403 |
Contributions to other postretirement benefits plans | |||||||||
15 | 25 | 20 | 30 | 31 | 40 | 59 | 43 | 223 | 82 |
Gain on sale of business | |||||||||
-66 | 0 | 843 | 0 | 0 | - | - | - | - | - |
Excess tax benefit from equity-based compensation | |||||||||
- | - | - | - | - | 20 | 32 | 21 | 57 | 0 |
Gain on sale of businesses | |||||||||
- | - | - | - | 0 | 68 | 2 | -1 | - | - |
Changes in working capital | |||||||||
Accounts receivable - net | |||||||||
-200 | 123 | 231 | 170 | -5 | 205 | 231 | -108 | 219 | 305 |
Inventory | |||||||||
60 | 242 | 202 | -34 | 8 | 152 | 92 | -166 | 113 | 219 |
Accounts payable | |||||||||
147 | 23 | 388 | 0 | -120 | 49 | 86 | -220 | 92 | 322 |
Accrued compensation | |||||||||
-23 | 23 | 59 | 20 | -28 | -32 | 0 | -52 | -38 | 203 |
Accrued income and other taxes | |||||||||
-49 | -31 | -4 | 30 | -9 | -73 | 1 | -86 | 123 | -11 |
Other current assets | |||||||||
94 | -71 | -2 | 21 | -7 | -73 | 42 | -117 | -11 | 46 |
Other current liabilities | |||||||||
-57 | 144 | -203 | -44 | -38 | 8 | -46 | 30 | -30 | 22 |
Changes in working capital | |||||||||
-272 | 149 | -291 | -13 | 156 | -3 | -100 | -79 | 16 | -108 |
Net cash provided by operating activities | |||||||||
3,451 | 2,658 | 2,666 | 2,570 | 2,409 | 1,878 | 2,285 | 1,664 | 1,248 | 1,282 |
Investing activities | |||||||||
Capital expenditures for property, plant and equipment | |||||||||
587 | 565 | 520 | 497 | 506 | 632 | 614 | 593 | 568 | 394 |
Proceeds from sale of business | |||||||||
- | - | - | 0 | 1 | 282 | 777 | 3 | 15 | - |
Cash paid for acquisitions of businesses, net of cash acquired | |||||||||
1,180 | 0 | 0 | - | 72 | -2 | 9 | 6,936 | 325 | 222 |
Proceeds from (payments for) sales of businesses | |||||||||
-36 | 0 | 607 | - | - | - | - | - | - | - |
Sales of short-term investments - net | |||||||||
70 | -355 | 298 | 40 | -37 | -522 | 288 | -603 | -103 | 392 |
Proceeds (payments) for settlement of currency exchange contracts not designated as hedges - net | |||||||||
-54 | 110 | 0 | 0 | - | - | - | - | - | - |
Other - net | |||||||||
47 | 78 | 6 | -8 | 35 | 31 | 68 | 49 | 25 | 4 |
Net cash provided by (used in) investing activities | |||||||||
-1,866 | -398 | -217 | -529 | -575 | 143 | -202 | -6,972 | -800 | -1,012 |
Financing activities | |||||||||
Proceeds from borrowings | |||||||||
1,232 | 410 | 1,000 | 631 | 425 | 0 | 9 | 7,156 | 381 | 55 |
Payments on borrowings | |||||||||
507 | 574 | 1,554 | 653 | 1,027 | 582 | 1,096 | 1,324 | 78 | 102 |
Payments of financing costs | |||||||||
- | - | - | - | - | - | - | 117 | 3 | 0 |
Cash dividends paid | |||||||||
1,201 | 1,149 | 1,068 | 1,037 | 1,026 | 929 | 796 | 512 | 462 | 363 |
Exercise of employee stock options | |||||||||
66 | 29 | 66 | 74 | 52 | 54 | 121 | 95 | 71 | 157 |
Repurchase of shares | |||||||||
1,029 | 1,271 | 850 | 730 | 682 | 650 | 0 | -159 | 343 | 0 |
Employee taxes paid from shares withheld | |||||||||
46 | 24 | 22 | 18 | 38 | 20 | 32 | 21 | 57 | 0 |
Other - net | |||||||||
-9 | -2 | -14 | -5 | -9 | -43 | -6 | 2 | -4 | -8 |
Net cash used in financing activities | |||||||||
-1,494 | -2,581 | -2,442 | -1,738 | -2,305 | -2,130 | -1,736 | 5,480 | -381 | -261 |
Effect of currency on cash | |||||||||
-4 | 43 | 11 | -28 | -42 | -25 | -9 | 20 | -15 | -16 |
Increase (decrease) in cash | |||||||||
87 | -278 | 18 | 275 | -513 | -134 | 338 | 192 | 52 | -7 |