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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities    
Net income from continuing operations $ 3,963 $ 4,811
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:    
Amortization 871 988
Depreciation 749 808
Intangible asset impairment charges 0 20
Charge for the acquisition of Pandion Therapeutics, Inc. 1,556 0
Deferred income taxes 29 101
Share-based compensation 243 213
Other (526) (204)
Net changes in assets and liabilities (3,655) (4,112)
Net Cash Provided by Operating Activities from Continuing Operations 3,230 2,625
Cash Flows from Investing Activities    
Capital expenditures (2,068) (1,553)
Purchases of securities and other investments (1) (77)
Proceeds from sales of securities and other investments 386 1,892
Acquisition of Pandion Therapeutics, Inc. net of cash acquired (1,554) 0
Acquisition of ArQule, Inc., net of cash acquired 0 (2,545)
Other acquisitions, net of cash acquired (90) (321)
Other 16 194
Net Cash Used in Investing Activities from Continuing Operations (3,311) (2,410)
Cash Flows from Financing Activities    
Net change in short-term borrowings (3,983) 1,967
Payments on debt (1,153) (1,952)
Distribution from Organon & Co. 9,000 0
Proceeds from issuance of debt 0 4,445
Purchases of treasury stock (239) (1,281)
Dividends paid to stockholders (3,318) (3,128)
Proceeds from exercise of stock options 51 40
Other (194) (444)
Net Cash Provided by (Used in) Financing Activities from Continuing Operations 164 (353)
Discontinued Operations    
Net cash provided by operating activities 1,051 1,449
Net cash used in investing activities (134) (100)
Net cash used in financing activities (504) 0
Net Cash Flows Provided by Discontinued Operations 413 1,349
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (19) 2
Net Increase in Cash, Cash Equivalents and Restricted Cash 477 1,213
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes restricted cash of $103 at January 1, 2021 included in Other Assets) 8,153 9,934
Cash, Cash Equivalents and Restricted Cash at End of Period (includes restricted cash of $55 at June 30, 2021 included in Other Assets) $ 8,630 $ 11,147