| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net earnings from continuing operations | ||||||
725 | 918 | 884 | 740 | 863 | 883 | |
Noncash items: | ||||||
Depreciation | ||||||
133 | 125 | 93 | 75 | 88 | 87 | |
Amortization | ||||||
292 | 135 | 65 | 85 | 88 | 90 | |
Stock-based compensation expense | ||||||
61 | 50 | 44 | 40 | 35 | 30 | |
Gain (Loss) on Disposition of Business | ||||||
40 | 0 | 15 | - | - | - | |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | ||||||
0 | 1 | 2 | 5 | 12 | 0 | |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | ||||||
- | - | - | 0 | 0 | - | |
Gain on sale of property | ||||||
0 | 0 | 8 | 0 | 0 | - | |
Gain on sale of product line | ||||||
- | - | - | - | - | 33 | |
Change in deferred income taxes | ||||||
-13 | -7 | 61 | 15 | -8 | 10 | |
Change in trade accounts receivable, net | ||||||
166 | 105 | 55 | -33 | 51 | 74 | |
Change in inventories | ||||||
-118 | 73 | -17 | 31 | 27 | 22 | |
Change in trade accounts payable | ||||||
53 | 76 | 17 | 12 | 53 | 28 | |
Change in prepaid expenses and other assets | ||||||
163 | -63 | 100 | 16 | 61 | 27 | |
Change in accrued expenses and other liabilities | ||||||
256 | 2 | 136 | 53 | 0 | -5 | |
Total operating cash provided by continuing operations | ||||||
1,284 | 1,201 | 1,020 | 982 | - | - | |
Total operating cash used in discontinued operations | ||||||
-13 | 143 | 156 | 154 | - | - | |
Net cash provided by operating activities | ||||||
1,271 | 1,344 | 1,176 | 1,136 | 1,009 | 946 | |
Cash flows from investing activities: | ||||||
Payments for additions to property, plant and equipment | ||||||
112 | 112 | 111 | 110 | 120 | 102 | |
Cash paid for acquisitions, net of cash received | ||||||
3,943 | 2,815 | 1,556 | 190 | 37 | 289 | |
Proceeds from Divestiture of Businesses | ||||||
0 | 0 | 21 | 9 | 2 | 86 | |
All other investing activities | ||||||
-1 | 42 | -1 | 0 | 19 | -13 | |
Total investing cash used in continuing operations | ||||||
-4,054 | -2,969 | -1,644 | -291 | - | - | |
Total investing cash provided by (used in) discontinued operations | ||||||
0 | 1,002 | -25 | -19 | - | - | |
Net cash used in investing activities | ||||||
-4,054 | -1,966 | -1,669 | -310 | -174 | -291 | |
Cash flows from financing activities: | ||||||
Net proceeds from (repayments of) commercial paper borrowings | ||||||
494 | -266 | 556 | 373 | 0 | 0 | |
Proceeds from borrowings (maturities longer than 90 days), net of issuance costs of $1 million and $24 million in 2020 and 2019, respectively | ||||||
2,913 | 1,750 | 125 | 2,978 | 0 | 0 | |
Repayment of borrowings (maturities greater than 90 days) | ||||||
455 | 1,850 | 0 | 0 | - | - | |
Proceeds from Issuance of Preferred Stock and Preference Stock | ||||||
0 | 1,337 | 0 | 0 | - | - | |
Payment of common stock cash dividend to shareholders | ||||||
93 | 96 | 97 | 48 | 0 | 0 | |
Payment of mandatory convertible preferred stock cash dividend to shareholders | ||||||
69 | 34 | 0 | 0 | - | - | |
Payment of cash dividend to former Parent | ||||||
- | - | - | 3,000 | 0 | 0 | |
Net Transfers To Former Parent | ||||||
- | - | - | -301 | -834 | 635 | |
All other financing activities | ||||||
13 | 39 | 13 | 0 | 0 | -20 | |
Total financing cash provided by continuing operations | ||||||
2,802 | 879 | 598 | 2 | - | - | |
Total financing cash provided by discontinued operations | ||||||
0 | 0 | 1 | 1 | - | - | |
Net cash (used in) provided by financing activities | ||||||
2,802 | 879 | 599 | 3 | -834 | -655 | |
Effect of exchange rate changes on cash and equivalents | ||||||
7 | -40 | 52 | -26 | 0 | 0 | |
Net change in cash and equivalents | ||||||
26 | 216 | 158 | 803 | 0 | 0 | |