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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities    
Net income from continuing operations $ 8,534 $ 7,137
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:    
Amortization 1,231 1,393
Depreciation 1,148 1,210
Intangible asset impairment charges 0 35
Income from investments in equity securities, net (1,535) (964)
Charge for the acquisition of Pandion Therapeutics, Inc. 1,556 0
Deferred income taxes 28 32
Share-based compensation 360 329
Other 499 519
Net changes in assets and liabilities (3,794) (5,484)
Net Cash Provided by Operating Activities from Continuing Operations 8,027 4,207
Cash Flows from Investing Activities    
Capital expenditures (3,240) (2,998)
Purchases of securities and other investments (1) (78)
Proceeds from sales of securities and other investments 497 1,894
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 (89) (907)
Other 15 138
Net Cash Used in Investing Activities from Continuing Operations (4,372) (4,496)
Cash Flows from Financing Activities    
Net change in short-term borrowings (3,983) (311)
Payments on debt (1,153) (1,954)
Distribution from Organon & Co. 9,000 0
Proceeds from issuance of debt 0 4,419
Purchases of treasury stock (822) (1,281)
Dividends paid to stockholders (4,967) (4,673)
Proceeds from exercise of stock options 68 68
Other (253) (472)
Net Cash Used in Financing Activities from Continuing Operations (2,110) (4,204)
Discontinued Operations    
Net cash provided by operating activities 1,051 2,040
Net cash used in investing activities (134) (169)
Net cash used in financing activities (504) 0
Net Cash Flows Provided by Discontinued Operations 413 1,871
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (65) 89
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 1,893 (2,533)
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 $30 at September 30, 2021 included in Other Assets) $ 10,046 $ 7,401