v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net income $ 1,981 $ 1,803 $ 1,873
Adjustments to reconcile to net cash provided by operating activities      
Depreciation and amortization 925 983 997
Deferred income taxes (100) (382) (311)
Pension and other postretirement benefits expense 323 293 384
Contributions to pension plans (330) (362) (341)
Contributions to other postretirement benefits plans (31) (40) (59)
Excess tax benefit from equity-based compensation (1) (20) (32)
(Gain) loss on sale of businesses 0 (68) (2)
Changes in working capital      
Accounts receivable - net 5 (205) (231)
Inventory (20) (152) (92)
Accounts payable (120) 49 86
Accrued compensation (28) (32) 0
Accrued income and other taxes (9) (73) 1
Other current assets 7 73 (42)
Other current liabilites (76) 8 (46)
Other - net (155) 3 100
Net cash provided by operating activities 2,371 1,878 2,285
Investing activities      
Capital expenditures for property, plant and equipment (506) (632) (614)
Cash received from (paid for) acquisitions of businesses, net of cash acquired (72) 2 (9)
Sales (purchases) of short-term investments - net 37 522 (288)
Proceeds from sale of businesses 1 282 777
Other - net (35) (31) (68)
Net cash provided by (used in) investing activities (575) 143 (202)
Financing activities      
Proceeds from borrowings 425 0 9
Payments on borrowings (1,027) (582) (1,096)
Cash dividends paid (1,026) (929) (796)
Exercise of employee stock options 52 54 121
(Repurchase) issuance of shares (682) (650) 0
Excess tax benefit from equity-based compensation 1 20 32
Other - net (10) (43) (6)
Net cash provided by (used in) financing activities (2,267) (2,130) (1,736)
Effect of currency on cash (42) (25) (9)
Total (decrease) increase in cash (513) (134) 338
Cash at the beginning of the period 781 915 577
Cash at the end of the period $ 268 $ 781 $ 915