Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES      
Consolidated Net Income $ 9,804 $ 7,768 $ 8,985
Depreciation and amortization 1,452 1,536 1,365
Stock-based compensation expense 337 126 201
Deferred income taxes 894 (18) (280)
Equity (income) loss — net of dividends (615) (511) (421)
Foreign currency adjustments 86 (88) 91
Significant (gains) losses — net (1,365) (914) (467)
Other operating charges 506 556 127
Other items 201 699 504
Net change in operating assets and liabilities 1,325 690 366
Net Cash Provided by Operating Activities 12,625 9,844 10,471
INVESTING ACTIVITIES      
Purchases of investments (6,030) (13,583) (4,704)
Proceeds from disposals of investments 7,059 13,835 6,973
Acquisitions of businesses, equity method investments and nonmarketable securities (4,766) (1,052) (5,542)
Proceeds from disposals of businesses, equity method investments and nonmarketable securities 2,180 189 429
Purchases of property, plant and equipment (1,367) (1,177) (2,054)
Proceeds from disposals of property, plant and equipment 108 189 978
Other investing activities 51 122 (56)
Net Cash Provided by (Used in) Investing Activities (2,765) (1,477) (3,976)
FINANCING ACTIVITIES      
Issuances of debt 13,094 26,934 23,009
Payments of debt (12,866) (28,796) (24,850)
Issuances of stock 702 647 1,012
Purchases of stock for treasury (111) (118) (1,103)
Dividends (7,252) (7,047) (6,845)
Other financing activities (353) 310 (227)
Net Cash Provided by (Used in) Financing Activities (6,786) (8,070) (9,004)
Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (159) 76 (72)
CASH AND CASH EQUIVALENTS      
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the year 2,915 373 (2,581)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year 7,110 6,737 9,318
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Year 10,025 7,110 6,737
Restricted Cash and Restricted Cash Equivalents 341 315 257
Cash and cash equivalents $ 9,684 $ 6,795 $ 6,480