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
 6 Months Ended
Jun. 30, 2017
Jul. 01, 2016
OPERATING ACTIVITIES    
Consolidated net income $ 2,556 $ 4,953
Depreciation and amortization 629 903
Stock-based compensation expense 114 119
Deferred income taxes 620 (178)
Equity (income) loss - net of dividends (303) (224)
Foreign currency adjustments 33 118
Significant (gains) losses on sales of assets - net 259 (762)
Other operating charges 970 210
Other items (68) (125)
Net change in operating assets and liabilities (1,419) (1,194)
Net cash provided by operating activities 3,391 3,820
INVESTING ACTIVITIES    
Purchases of investments (10,047) (9,045)
Proceeds from disposals of investments 8,337 9,518
Acquisitions of businesses, equity method investments and nonmarketable securities (520) (723)
Proceeds from disposals of businesses, equity method investments and nonmarketable securities 2,055 420
Purchases of property, plant and equipment (832) (1,085)
Proceeds from disposals of property, plant and equipment 42 41
Other investing activities (259) (63)
Net cash provided by (used in) investing activities (1,224) (937)
FINANCING ACTIVITIES    
Issuances of debt 18,586 15,947
Payments of debt (14,910) (12,750)
Issuances of stock 917 1,108
Purchases of stock for treasury (2,197) (2,156)
Dividends (1,584) (3,017)
Other financing activities (15) 85
Net cash provided by (used in) financing activities 797 (783)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 199 238
CASH AND CASH EQUIVALENTS    
Net increase (decrease) during the period 3,163 2,338
Balance at beginning of period 8,555 7,309
Balance at end of period $ 11,718 $ 9,647