v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES      
CONSOLIDATED NET INCOME $ 7,768 $ 8,985 $ 6,476
Depreciation and amortization 1,536 1,365 1,086
Stock-based compensation expense 126 201 225
Deferred income taxes (18) (280) (413)
Equity (income) loss - net of dividends (511) (421) (457)
Foreign currency adjustments (88) 91 (50)
Significant (gains) losses on sales of assets - net (914) (467) 743
Other operating charges 556 127 558
Other items 699 504 699
Net change in operating assets and liabilities 690 366 (1,240)
Net cash provided by operating activities 9,844 10,471 7,627
INVESTING ACTIVITIES      
Purchases of investments (13,583) (4,704) (7,789)
Proceeds from disposals of investments 13,835 6,973 14,977
Acquisitions of businesses, equity method investments and nonmarketable securities (1,052) (5,542) (1,263)
Proceeds from disposals of businesses, equity method investments and nonmarkatable securities 189 429 1,362
Purchases of property, plant and equipment (1,177) (2,054) (1,548)
Proceeds from disposals of property, plant and equipment 189 978 248
Other investing activities 122 (56) (60)
Net cash provided by (used in) investing activities (1,477) (3,976) 5,927
FINANCING ACTIVITIES      
Issuances of debt 26,934 23,009 27,605
Payments of debt (28,796) (24,850) (30,600)
Issuances of stock 647 1,012 1,476
Purchases of stock for treasury (118) (1,103) (1,912)
Dividends (7,047) (6,845) (6,644)
Other financing activities 310 (227) (272)
Net cash provided by (used in) financing activities (8,070) (9,004) (10,347)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 76 (72) (262)
CASH AND CASH EQUIVALENTS      
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the year 373 (2,581) 2,945
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at the Beginning of the Year 6,737 9,318 6,373
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at the End of the Year 7,110 6,737 9,318
Restricted Cash and Restricted Cash Equivalents not included in Cash and Cash Equivalents on Balance Sheet 315 257 241
Cash and cash equivalents $ 6,795 $ 6,480 $ 9,077

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