v3.2.0.727
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities    
Net income $ 1,002 $ 613
Adjustments to reconcile to net cash provided by operating activities    
Depreciation and amortization 460 499
Deferred income taxes (29) (256)
Pension and other postretirement benefits expense 158 180
Contributions to pension plans (258) (304)
Contributions to other postretirement benefits plans (16) (24)
Excess tax benefit from equity-based compensation 0 (20)
Gain on sale of businesses 0 69
Changes in working capital (506) 116
Other - net (155) (90)
Net cash provided by operating activities 656 645
Investing activities    
Cash paid for acquisitions of businesses, net of cash acquired (38) 0
Capital expenditures for property, plant and equipment (246) (236)
Sales of short-term investments - net 109 162
Proceeds from sale of businesses 1 273
Other - net (33) (51)
Net cash (used in) provided by investing activities (207) 148
Financing activities    
Proceeds from borrowings 137 0
Payments on borrowings (404) (576)
Cash dividends paid (514) (467)
Exercise of employee stock options 46 44
Repurchase of shares 170 99
Excess tax benefit from equity-based compensation 0 20
Other - net (7) 0
Net cash used in financing activities (912) (1,078)
Effect of currency on cash (15) 1
Total decrease in cash (478) (284)
Cash at the beginning of the period 781 915
Cash at the end of the period $ 303 $ 631