| 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 - continuing operations: | ||||||||||||
Net earnings | ||||||||||||
3,484 | 3,345 | 2,912 | 2,572 | 3,036 | 2,533 | 2,357 | -332 | 2,526 | 2,624 | 2,394 | 2,459 | 2,072 |
Adjustments to reconcile net earnings to net cash from operating activities: | ||||||||||||
Depreciation of property, plant and equipment | ||||||||||||
466 | 436 | 362 | 365 | 365 | 375 | 382 | 376 | 354 | 345 | 344 | 301 | 278 |
Amortization of intangible and finance lease right-of-use assets | ||||||||||||
363 | 327 | 79 | 88 | 116 | 121 | 143 | 214 | 238 | 224 | 218 | 146 | 145 |
Goodwill and intangible asset impairments | ||||||||||||
- | - | - | - | - | - | - | 2,295 | 111 | 0 | - | - | - |
Equity-based compensation expense | ||||||||||||
133 | 140 | 123 | 95 | 98 | 128 | 120 | 114 | 128 | 118 | 117 | 105 | 86 |
Excess tax benefit from equity-based compensation | ||||||||||||
- | - | - | - | - | - | 23 | 29 | 24 | 18 | 5 | 31 | 67 |
Deferred income tax benefit | ||||||||||||
92 | -3 | 401 | 184 | 213 | 136 | 115 | -144 | 14 | 56 | 227 | 196 | 122 |
Discontinued operations, net of tax | ||||||||||||
0 | 13 | 0 | -107 | 0 | -140 | -129 | 49 | -26 | -4 | -13 | -19 | -8 |
(Increase) decrease in assets, net of effects of business acquisitions: | ||||||||||||
Accounts receivable | ||||||||||||
-176 | -417 | 195 | 122 | -632 | -330 | 223 | -225 | 397 | 152 | 151 | 386 | 519 |
Unbilled receivables | ||||||||||||
1,303 | 800 | 987 | 1,048 | -61 | -281 | -177 | -149 | 62 | 334 | 112 | -73 | 435 |
Inventories | ||||||||||||
376 | 591 | 182 | 377 | -141 | 303 | 200 | 490 | 186 | 23 | 72 | 183 | 135 |
Other current assets | ||||||||||||
-8 | -310 | -207 | -315 | -80 | - | - | - | - | - | - | - | - |
Increase (decrease) in liabilities, net of effects of business acquisitions: | ||||||||||||
Accounts payable | ||||||||||||
6 | -197 | 657 | 567 | -89 | -161 | -204 | -413 | 17 | 366 | -92 | -38 | 340 |
Customer advances and deposits | ||||||||||||
-105 | 36 | 264 | -305 | -2,153 | 691 | 330 | 730 | 629 | 30 | 145 | 849 | 993 |
Other current liabilities | ||||||||||||
- | - | - | - | - | -229 | -118 | 23 | 86 | -285 | -306 | -203 | 72 |
Other, net | ||||||||||||
-37 | 285 | -235 | 278 | -107 | 214 | -126 | 63 | 222 | -31 | -135 | 183 | 8 |
Net cash used by operating activities | ||||||||||||
2,981 | 3,148 | 3,876 | - | - | - | 3,111 | 2,606 | 3,238 | 2,986 | 2,855 | 3,124 | 2,952 |
Net cash (used) provided by operating activities | ||||||||||||
- | - | - | 2,163 | 2,607 | 3,828 | - | - | - | - | - | - | - |
Cash flows from investing activities: | ||||||||||||
Capital expenditures | ||||||||||||
987 | 690 | 428 | 392 | 569 | 521 | 436 | 436 | 458 | 370 | 385 | 490 | 474 |
Business acquisitions, net of cash acquired | ||||||||||||
19 | 10,099 | 399 | 58 | 5 | - | - | - | 1,560 | 233 | 811 | 3,224 | 330 |
Maturities of held-to-maturity securities | ||||||||||||
- | - | - | - | 500 | 0 | 0 | - | 441 | 605 | - | - | - |
Purchases of held-to-maturity securities | ||||||||||||
- | - | - | - | - | 500 | 0 | 260 | 459 | 468 | 337 | - | 0 |
Proceeds from sales of assets | ||||||||||||
14 | 562 | 50 | 9 | 291 | 102 | 104 | - | - | - | - | - | 108 |
Purchases of available-for-sale securities | ||||||||||||
- | - | - | - | - | - | 135 | 252 | 373 | 226 | 152 | 1,406 | 2,798 |
Sales of available-for-sale securities | ||||||||||||
- | - | - | - | - | - | 99 | 186 | 107 | 78 | - | - | - |
Maturities of available-for-sale securities | ||||||||||||
- | - | - | - | - | - | 14 | 110 | 235 | 126 | 179 | 1,292 | 2,619 |
Sales of held-to-maturity securities | ||||||||||||
- | - | - | - | - | - | - | - | 0 | 0 | - | - | - |
Other, net | ||||||||||||
2 | 7 | 11 | -50 | 17 | 183 | 9 | -10 | -93 | -80 | -114 | -165 | 0 |
Net cash used by investing activities | ||||||||||||
-994 | -10,234 | -788 | -391 | 200 | -1,102 | -363 | -642 | -1,974 | -408 | -1,392 | -3,663 | -875 |
Cash flows from financing activities: | ||||||||||||
Proceeds from fixed-rate notes | ||||||||||||
0 | 6,461 | 985 | 992 | 0 | 0 | - | 2,382 | 1,497 | 0 | 747 | 995 | 0 |
Proceeds from commercial paper, net | ||||||||||||
-850 | 850 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Purchases of common stock | ||||||||||||
231 | 1,769 | 1,558 | 1,996 | 3,233 | 3,382 | 740 | 602 | 1,468 | 1,185 | 209 | 1,522 | 505 |
Payments of Dividends | ||||||||||||
1,152 | 1,075 | 986 | 911 | 873 | 822 | 591 | 893 | 673 | 631 | 577 | 533 | 445 |
Repayment of CSRA accounts receivable purchase agreement | ||||||||||||
0 | 450 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from stock option exercises | ||||||||||||
- | - | - | 292 | 268 | 547 | 583 | 146 | 198 | 277 | 142 | 144 | 207 |
Repayment of fixed-rate notes | ||||||||||||
0 | 0 | 900 | 500 | 500 | 0 | 0 | 2,400 | 750 | 700 | - | -500 | 0 |
Repayment of commercial paper | ||||||||||||
- | - | - | - | - | - | - | - | - | - | -904 | -904 | 0 |
Repayment of senior notes | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 0 |
Other, net | ||||||||||||
236 | 69 | 60 | -46 | -29 | -18 | 23 | -15 | -5 | 13 | -5 | -206 | -43 |
Net cash provided by financing activities | ||||||||||||
-1,997 | 5,086 | -2,399 | -2,169 | -4,367 | -3,675 | -725 | -1,382 | -1,201 | -2,226 | -806 | -718 | -786 |
Net cash used by discontinued operations | ||||||||||||
-51 | -20 | -40 | -54 | -43 | 36 | -18 | 65 | -27 | -2 | -15 | -13 | -27 |
Net increase (decrease) in cash and equivalents | ||||||||||||
-61 | -2,020 | 649 | -451 | -1,603 | -913 | 2,005 | 647 | 36 | 350 | 642 | -1,270 | 1,287 |
Net cash provided by discontinued operations-investing activities | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 23 |
LIBOR | ||||||||||||
Proceeds from notes | ||||||||||||
0 | 1,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |