Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
 6 Months Ended
Jun. 27, 2014
Jun. 28, 2013
OPERATING ACTIVITIES    
Consolidated net income $ 4,231 $ 4,463
Depreciation and amortization 967 947
Stock-based compensation expense 112 92
Deferred income taxes (67) 100
Equity (income) loss - net of dividends (124) (132)
Foreign currency adjustments 260 159
Significant (gains) losses on sales of assets - net 140 (23)
Other operating charges 120 83
Other items 6 22
Net change in operating assets and liabilities (1,175) (1,755)
Net cash provided by operating activities 4,470 3,956
INVESTING ACTIVITIES    
Purchases of investments (7,895) (7,077)
Proceeds from disposals of investments 6,192 5,224
Acquisitions of businesses, equity method investments and nonmarketable securities (332) (308)
Proceeds from disposals of businesses, equity method investments and nonmarketable securities 45 690
Purchases of property, plant and equipment (1,030) (1,069)
Proceeds from disposals of property, plant and equipment 134 57
Other investing activities (242) (225)
Net cash provided by (used in) investing activities (3,128) (2,708)
FINANCING ACTIVITIES    
Issuances of debt 21,267 22,779
Payments of debt (18,122) (19,454)
Issuances of stock 650 951
Purchases of stock for treasury (1,953) (2,978)
Dividends (1,342) (1,249)
Other financing activities (438) 87
Net cash provided by (used in) financing activities 62 136
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (200) (420)
CASH AND CASH EQUIVALENTS    
Net increase (decrease) during the period 1,204 964
Balance at beginning of period 10,414 8,442
Balance at end of period $ 11,618 $ 9,406