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
9 Months Ended
Sep. 26, 2014
Sep. 27, 2013
OPERATING ACTIVITIES    
Consolidated net income $ 6,353 $ 6,918
Depreciation and amortization 1,477 1,444
Stock-based compensation expense 143 155
Deferred income taxes (179) 179
Equity (income) loss - net of dividends (259) (270)
Foreign currency adjustments 305 140
Significant (gains) losses on sales of assets - net 410 (670)
Other operating charges 192 331
Other items 38 137
Net change in operating assets and liabilities (501) (652)
Net cash provided by operating activities 7,979 7,712
INVESTING ACTIVITIES    
Purchases of investments (14,098) (11,451)
Proceeds from disposals of investments 9,558 9,601
Acquisitions of businesses, equity method investments and nonmarketable securities (343) (326)
Proceeds from disposals of businesses, equity method investments and nonmarketable securities 73 869
Purchases of property, plant and equipment (1,618) (1,625)
Proceeds from disposals of property, plant and equipment 150 64
Other investing activities (280) (115)
Net cash provided by (used in) investing activities (6,558) (2,983)
FINANCING ACTIVITIES    
Issuances of debt 33,292 31,147
Payments of debt (28,494) (27,293)
Issuances of stock 1,058 1,079
Purchases of stock for treasury (2,963) (3,892)
Dividends (2,680) (2,494)
Other financing activities (409) 70
Net cash provided by (used in) financing activities (196) (1,383)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (555) (670)
CASH AND CASH EQUIVALENTS    
Net increase (decrease) during the period 670 2,676
Balance at beginning of period 10,414 8,442
Balance at end of period $ 11,084 $ 11,118