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Consolidated Cash Flow Statement - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Activities      
Net income $ 1,445 $ 2,319 $ 2,219
Depreciation and amortization 882 724 705
Asset Impairments 74 0 2
Stock-based compensation 41 76 77
Deferred income taxes 2 (69) (15)
Net losses on asset dispositions 52 21 6
Equity companies' earnings (in excess of) less than dividends paid 18 26 (4)
Operating working capital 389 (148) 334
Postretirement benefits (25) 2 (50)
Other 92 (22) (42)
Cash Provided by Operations 2,970 2,929 3,232
Investing Activities      
Capital spending (877) (785) (771)
Proceeds from dispositions of property 51 3 23
Investments in time deposits (353) (214) (221)
Maturities of time deposits 272 183 188
Other 5 (38) 49
Cash Used for Investing (902) (851) (732)
Financing Activities      
Cash dividends paid (1,386) (1,359) (1,311)
Change in short-term debt (34) 360 (908)
Debt proceeds 507 937 1,293
Debt repayments (407) (1,481) (598)
Proceeds from exercise of stock options 62 121 107
Acquisitions of common stock for the treasury (800) (911) (739)
Other (57) (88) (29)
Cash Used for Financing (2,115) (2,421) (2,185)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (30) 36 (11)
Change in Cash and Cash Equivalents (77) (307) 304
Cash and Cash Equivalents - Beginning of Year 616 923 619
Cash and Cash Equivalents - End of Year $ 539 $ 616 $ 923