| 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 | ||||||||||||
Net income including noncontrolling interest | ||||||||||||
4,582 | 5,363 | 4,869 | 5,058 | 4,841 | 4,998 | 4,721 | 4,511 | 4,357 | 4,163 | 3,244 | 3,520 | 4,151 |
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities | ||||||||||||
Depreciation and amortization | ||||||||||||
1,593 | 1,488 | 1,544 | 1,474 | 1,435 | 1,408 | 1,371 | 1,288 | 1,236 | 1,120 | 1,157 | 1,153 | 1,072 |
Company pension and postretirement contributions | ||||||||||||
210 | 370 | 967 | 383 | 267 | 215 | 482 | 1,146 | 582 | 618 | 792 | 474 | 379 |
Company pension and postretirement expense | ||||||||||||
357 | 410 | 334 | 250 | 556 | 391 | 553 | 650 | 555 | 322 | 223 | 105 | 255 |
Stock-based compensation expense | ||||||||||||
278 | 302 | 324 | 298 | 276 | 280 | 240 | 223 | 253 | 274 | 217 | 202 | 228 |
Gain on sale of businesses | ||||||||||||
111 | 545 | 586 | 111 | 47 | - | - | - | - | - | - | - | - |
Deferred income taxes | ||||||||||||
-273 | -57 | 107 | 7 | 395 | -146 | -167 | 33 | 177 | -170 | 701 | 99 | -217 |
Loss on deconsolidation of Venezuelan subsidiary | ||||||||||||
162 | - | - | - | - | - | - | - | - | - | - | - | - |
Excess tax benefits from stock-based compensation | ||||||||||||
- | - | - | - | 154 | 167 | 92 | 62 | 53 | 53 | 14 | 21 | 74 |
Changes in assets and liabilities | ||||||||||||
Accounts receivable | ||||||||||||
-345 | 305 | 245 | 313 | 58 | 268 | 337 | 133 | 205 | 189 | -55 | -197 | 35 |
Inventories | ||||||||||||
-370 | 509 | 387 | -57 | -3 | 113 | 86 | 251 | 196 | 404 | -453 | 127 | 54 |
Accounts payable | ||||||||||||
-117 | 408 | 24 | 148 | 9 | 75 | 16 | 72 | -83 | 146 | 109 | -224 | -4 |
Accrued income taxes (current and long-term) | ||||||||||||
205 | 134 | 967 | 101 | -744 | 206 | 206 | 90 | -45 | 255 | -147 | -143 | 183 |
Product and other insurance receivables and claims | ||||||||||||
- | - | - | - | - | - | - | - | 9 | 49 | 64 | 153 | 158 |
Other - net | ||||||||||||
111 | -120 | -256 | -76 | -175 | -177 | 126 | -25 | 139 | -279 | 329 | -70 | 189 |
Loss from sale of businesses | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | -23 | 849 |
Net cash provided by (used in) operating activities | ||||||||||||
7,070 | 6,439 | 6,240 | 6,662 | 6,420 | 6,626 | 5,817 | 5,300 | 5,284 | 5,174 | 4,941 | 4,533 | 4,246 |
Cash Flows from Investing Activities | ||||||||||||
Purchases of property, plant and equipment (PP&E) | ||||||||||||
1,699 | 1,577 | 1,373 | 1,420 | 1,461 | 1,493 | 1,665 | 1,484 | 1,379 | 1,091 | 903 | 1,471 | 1,422 |
Proceeds from sale of PP&E and other assets | ||||||||||||
123 | 262 | 49 | 58 | 33 | 135 | 128 | 41 | 55 | 25 | 74 | 87 | 103 |
Acquisitions, net of cash acquired | ||||||||||||
4,984 | -13 | 2,023 | 16 | 2,914 | 94 | - | 1,046 | 649 | 1,830 | 69 | 1,394 | 539 |
Purchases of marketable securities and investments | ||||||||||||
1,635 | 1,828 | 2,152 | 1,410 | 652 | 1,280 | 4,040 | 5,492 | 4,162 | 3,287 | 2,240 | 2,211 | 8,194 |
Proceeds from maturities and sale of marketable securities and investments | ||||||||||||
1,443 | 2,497 | 1,354 | 1,247 | 1,952 | 2,034 | 4,667 | 5,281 | 3,417 | 1,995 | 718 | 1,810 | 6,902 |
Proceeds from maturities of marketable securities | ||||||||||||
- | - | - | - | - | - | - | - | - | 1,565 | 683 | 692 | 886 |
Proceeds from sale of businesses, net of cash sold | ||||||||||||
236 | 846 | 1,065 | 142 | 123 | - | 8 | 0 | 0 | - | - | 88 | 897 |
Other - net | ||||||||||||
-72 | -9 | 6 | 4 | -102 | -102 | -46 | -14 | 0 | 3 | -5 | - | - |
Net cash provided by (used in) investing activities | ||||||||||||
-6,444 | 222 | -3,086 | -1,403 | -2,817 | -596 | -856 | -2,686 | -2,718 | -2,626 | -1,732 | -2,399 | -1,367 |
Cash Flows from Financing Activities | ||||||||||||
Change in short-term debt - net | ||||||||||||
-316 | -284 | 578 | -797 | 860 | 27 | -2 | -36 | 11 | -24 | -536 | 361 | -1,222 |
Repayment of debt (maturities greater than 90 days) | ||||||||||||
2,716 | 1,034 | 962 | 992 | 800 | 1,625 | 859 | 612 | 1,429 | 556 | 519 | 1,080 | 1,551 |
Proceeds from debt (maturities greater than 90 days) | ||||||||||||
6,281 | 2,251 | 1,987 | 2,832 | 3,422 | 2,608 | 824 | 1,370 | 1,111 | 108 | 41 | 1,756 | 4,024 |
Purchases of treasury stock | ||||||||||||
1,407 | 4,870 | 2,068 | 3,753 | 5,238 | 5,652 | 5,212 | 2,204 | 2,701 | 854 | 17 | 1,631 | 3,239 |
Proceeds from issuance of treasury stock pursuant to stock option and benefit plans | ||||||||||||
547 | 485 | 734 | 804 | 635 | 968 | 1,609 | 1,012 | 902 | 666 | 431 | 289 | 796 |
Dividends paid to shareholders | ||||||||||||
3,316 | 3,193 | 2,803 | 2,678 | 2,561 | 2,216 | 1,730 | 1,635 | 1,555 | 1,500 | 1,431 | 1,398 | 1,380 |
Distributions to noncontrolling interests | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 23 | 20 |
Excess tax benefits from stock-based compensation | ||||||||||||
- | - | - | - | 154 | 167 | 92 | 62 | 53 | 53 | 14 | 21 | 74 |
Purchase of noncontrolling interest | ||||||||||||
- | - | - | - | - | 861 | - | 0 | - | - | - | - | - |
Other - net | ||||||||||||
-197 | -56 | -121 | -42 | -120 | -19 | 32 | -15 | -67 | -77 | 3 | -61 | - |
Net cash provided by (used in) financing activities | ||||||||||||
-1,124 | -6,701 | -2,655 | -4,626 | -3,648 | -6,603 | -5,246 | -2,058 | -3,675 | -2,184 | -2,014 | -1,766 | -2,518 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||||
-2 | -160 | 156 | -33 | -54 | -111 | -17 | 108 | -49 | -27 | -4 | -415 | 88 |
Net increase (decrease) in cash and cash equivalents | ||||||||||||
-500 | -200 | 655 | 600 | -99 | -684 | -302 | 664 | -1,158 | 337 | 1,191 | -47 | 449 |