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Consolidated Cash Flow Statement - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net income $ 2,396 $ 2,197 $ 1,445
Depreciation and amortization 796 917 882
Asset Impairments 17 0 74
Stock-based compensation 147 96 41
Deferred income taxes 45 29 2
Net (gains) losses on asset dispositions 68 (193) 52
Equity companies' earnings (in excess of) less than dividends paid (30) (6) 18
Operating working capital 363 (288) 389
Postretirement benefits (28) 13 (25)
Other (45) (29) 92
Cash Provided by Operations 3,729 2,736 2,970
Investing Activities      
Capital spending (1,217) (1,209) (877)
Payments to Acquire Businesses, Net of Cash Acquired (1,083) (4) 0
Proceeds from dispositions of property 31 242 51
Investments in time deposits (753) (568) (353)
Maturities of time deposits 690 542 272
Other 27 (45) 5
Cash Used for Investing (2,305) (1,042) (902)
Financing Activities      
Cash dividends paid (1,451) (1,408) (1,386)
Change in short-term debt (561) 303 (34)
Debt proceeds 1,845 706 507
Debt repayments (854) (707) (407)
Proceeds from exercise of stock options 217 228 62
Acquisitions of common stock for the treasury (700) (800) (800)
Other (63) (114) (57)
Cash Used for Financing (1,567) (1,792) (2,115)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 4 1 (30)
Change in Cash and Cash Equivalents (139) (97) (77)
Cash and Cash Equivalents - Beginning of Year 442 539 616
Cash and Cash Equivalents - End of Year $ 303 $ 442 $ 539