| 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 | ||||||||||||
5,017 | 5,580 | 3,682 | 3,595 | 2,986 | 2,821 | 2,162 | 1,759 | 2,236 | 3,228 | 1,470 | 1,920 | 2,657 |
Adjustments to net income: | ||||||||||||
Income from discontinued operations | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 16 |
Depreciation | ||||||||||||
708 | 590 | 539 | 605 | 766 | 850 | 879 | 957 | 904 | 865 | 877 | 1,022 | 1,022 |
Amortization of acquisition-related intangibles | ||||||||||||
288 | 318 | 318 | 319 | 319 | 321 | 336 | 342 | 111 | 48 | 48 | 37 | 48 |
Amortization of capitalized software | ||||||||||||
54 | 46 | 47 | 31 | 48 | 59 | 82 | 102 | 93 | - | - | - | - |
Stock compensation | ||||||||||||
217 | 232 | 242 | 252 | 286 | 277 | 287 | 263 | 269 | 190 | 186 | 213 | 280 |
Gains on sales of assets | ||||||||||||
23 | 3 | 0 | 40 | 85 | 73 | 6 | 0 | 5 | 144 | 0 | 0 | -39 |
Deferred taxes | ||||||||||||
81 | -105 | 112 | -202 | -55 | -61 | 50 | 130 | 55 | -188 | 146 | -182 | 34 |
Gain on transfer of Japan substitutional pension | ||||||||||||
- | - | - | - | - | - | - | 144 | 0 | 0 | - | - | - |
Increase (decrease) from changes in: | ||||||||||||
Accounts receivable | ||||||||||||
-133 | -71 | 7 | 108 | -77 | 49 | -16 | -311 | -112 | 231 | 364 | 865 | 40 |
Inventories | ||||||||||||
-216 | 282 | 167 | 99 | -93 | 53 | -26 | -5 | 17 | 304 | -177 | 43 | 11 |
Prepaid expenses and other current assets | ||||||||||||
-265 | -669 | -76 | 81 | -94 | -65 | 136 | -162 | 203 | 8 | -115 | -125 | 13 |
Accounts payable and accrued expenses | ||||||||||||
-93 | -7 | 51 | 72 | -142 | -132 | -284 | 99 | 2 | 57 | 5 | -325 | 77 |
Accrued compensation | ||||||||||||
-15 | -7 | -3 | 36 | 7 | 89 | 18 | -82 | -77 | 246 | -38 | -141 | 33 |
Income taxes payable | ||||||||||||
-193 | 158 | 468 | 333 | 11 | -81 | 78 | -229 | -85 | -19 | 87 | 38 | 304 |
Changes in funded status of retirement plans | ||||||||||||
29 | 36 | 21 | -73 | -23 | -58 | 28 | -198 | 7 | -26 | - | - | - |
Other | ||||||||||||
35 | 107 | 16 | 26 | -15 | -79 | 152 | 63 | 132 | -54 | 66 | -35 | -57 |
Cash flows from operating activities | ||||||||||||
6,649 | 7,189 | 5,363 | 4,614 | 4,397 | 4,054 | 3,384 | 3,414 | 3,256 | 3,820 | 2,643 | 3,330 | 4,407 |
Cash flows from investing activities | ||||||||||||
Capital expenditures | ||||||||||||
847 | 1,131 | 695 | 531 | 551 | 385 | 412 | 495 | 816 | 1,199 | 753 | 763 | 686 |
Proceeds from asset sales | ||||||||||||
30 | 9 | 40 | 0 | 110 | 142 | 21 | 0 | 16 | 148 | 0 | 0 | 61 |
Purchases of short-term investments | ||||||||||||
3,444 | 5,641 | 4,555 | 3,503 | 2,767 | 3,107 | 3,907 | 2,802 | 3,653 | 2,510 | 2,273 | 1,746 | 5,035 |
Proceeds from short-term investments | ||||||||||||
2,310 | 6,710 | 4,100 | 3,390 | 2,892 | 2,966 | 4,249 | 2,198 | 3,555 | 2,564 | 2,030 | 1,300 | 5,981 |
Redemptions and sales of long-term investments | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 64 | 55 | 11 |
Property, plant and equipment | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 3 | - | - |
Inventories | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 4 | - | - |
Business acquisitions, net of cash acquired | ||||||||||||
- | - | - | - | - | - | - | - | 5,425 | 199 | 155 | 19 | 87 |
Other | ||||||||||||
-32 | 23 | 12 | 6 | -14 | -7 | -46 | -60 | -151 | - | 148 | - | - |
Purchases of long-term investments | ||||||||||||
- | - | - | - | - | - | - | - | - | 8 | 9 | 9 | 30 |
Proceeds from long-term investments | ||||||||||||
- | - | - | - | - | - | - | - | - | 147 | - | - | - |
Cash flows from investing activities | ||||||||||||
-1,920 | -78 | -1,127 | -650 | -302 | -377 | -3 | -1,039 | -6,172 | -1,057 | -1,096 | -1,182 | 215 |
Cash flows from financing activities | ||||||||||||
Proceeds from issuance of long-term debt | ||||||||||||
1,491 | 1,500 | 1,099 | 499 | 498 | 498 | 986 | 1,492 | - | - | - | - | - |
Repayment of debt | ||||||||||||
750 | 500 | 625 | 1,000 | 1,000 | 1,000 | 1,500 | 1,375 | - | - | - | - | 43 |
Proceeds from issuance of long-term debt and commercial paper borrowings | ||||||||||||
- | - | - | - | - | - | - | - | 4,697 | 0 | 0 | - | - |
Issuance costs for long-term debt | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 0 | - | - |
Repayment of debt and commercial paper borrowings | ||||||||||||
- | - | - | - | - | - | - | - | 200 | 0 | 0 | - | - |
Dividends paid | ||||||||||||
3,008 | 2,555 | 2,104 | 1,646 | 1,444 | 1,323 | 1,175 | 819 | 644 | 592 | 567 | 537 | 425 |
Stock repurchases | ||||||||||||
2,960 | 5,100 | 2,556 | 2,132 | 2,741 | 2,831 | 2,868 | 1,800 | 1,973 | 2,454 | 954 | 2,122 | 4,886 |
Proceeds from common stock transactions | ||||||||||||
539 | 373 | 483 | 472 | 396 | 554 | 1,314 | 523 | 690 | 407 | 109 | 210 | 761 |
Excess tax benefit from share-based payments | ||||||||||||
- | - | - | - | - | - | 80 | 38 | 31 | 13 | 1 | 19 | 116 |
Other | ||||||||||||
-42 | -47 | -31 | -3 | -3 | -3 | -7 | -10 | -12 | 0 | - | - | - |
Cash flows from financing activities | ||||||||||||
-4,730 | -6,329 | -3,734 | -3,810 | -4,294 | -4,105 | -3,170 | -1,951 | 2,589 | -2,626 | -1,411 | -2,430 | -4,477 |
Net change in cash and cash equivalents | ||||||||||||
-1 | 782 | 502 | 154 | -199 | -428 | 211 | 424 | -327 | 137 | 136 | -282 | 145 |