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Consolidated Cash Flow Statement - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 1,844 $ 2,396 $ 2,197
Depreciation and amortization 766 796 917
Asset Impairments 3 17 0
Stock-based compensation 26 147 96
Deferred income taxes (70) 45 29
Net (gains) losses on asset dispositions 39 68 (193)
Equity companies' earnings (in excess of) less than dividends paid 25 (30) (6)
Operating working capital 46 363 (288)
Postretirement benefits 47 (28) 13
Other 4 (45) (29)
Cash Provided by Operations 2,730 3,729 2,736
Investing Activities      
Capital spending (1,007) (1,217) (1,209)
Payments to Acquire Businesses, Net of Cash Acquired 0 (1,083) (4)
Proceeds from dispositions of property 43 31 242
Investments in time deposits (918) (753) (568)
Maturities of time deposits 836 690 542
Other (10) 27 (45)
Cash Used for Investing (1,056) (2,305) (1,042)
Financing Activities      
Cash dividends paid (1,516) (1,451) (1,408)
Change in short-term debt (97) (561) 303
Debt proceeds 605 1,845 706
Debt repayments (269) (854) (707)
Proceeds from exercise of stock options 65 217 228
Acquisitions of common stock for the treasury (400) (700) (800)
Other (84) (63) (114)
Cash Used for Financing (1,696) (1,567) (1,792)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (11) 4 1
Change in Cash and Cash Equivalents (33) (139) (97)
Cash and Cash Equivalents - Beginning of Year 303 442 539
Cash and Cash Equivalents - End of Year $ 270 $ 303 $ 442