Consolidated Statements of Cash Flows

Year ended December 31 ($ in millions)

2017

2016

2015

Due to rounding, numbers presented may not add to the totals provided.

See accompanying Notes to the Consolidated Financial Statements.

 

 

 

 

Operating activities:

 

 

 

Net income

2,365

2,034

2,055

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Depreciation and amortization

1,101

1,135

1,160

Deferred taxes

(205)

(147)

(219)

Net loss from derivatives and foreign exchange

39

10

15

Net gain from sale of property, plant and equipment

(36)

(38)

(26)

Net loss (gain) from sale of businesses

(252)

10

20

Share-based payment arrangements

58

54

61

Other

11

112

94

Changes in operating assets and liabilities:

 

 

 

Trade receivables, net

(80)

10

162

Inventories, net

(55)

115

105

Trade payables

599

340

(112)

Accrued liabilities

112

80

(24)

Billings in excess of sales

(27)

(25)

35

Provisions, net

30

14

330

Advances from customers

(120)

(163)

106

Income taxes payable and receivable

196

125

(32)

Other assets and liabilities, net

63

177

88

Net cash provided by operating activities

3,799

3,843

3,818

 

 

 

 

Investing activities:

 

 

 

Purchases of marketable securities (available-for-sale)

(312)

(1,214)

(1,925)

Purchases of short-term investments

(393)

(3,092)

(614)

Purchases of property, plant and equipment and intangible assets

(949)

(831)

(876)

Acquisition of businesses (net of cash acquired) and increases in cost- and equity-accounted companies

(2,130)

(26)

(56)

Proceeds from sales of marketable securities (available-for-sale)

514

1,057

434

Proceeds from maturity of marketable securities (available-for-sale)

100

539

1,022

Proceeds from short-term investments

945

2,241

653

Proceeds from sales of property, plant and equipment

66

61

68

Proceeds from sales of businesses (net of transaction costs and cash disposed) and cost- and equity-accounted companies

607

(1)

69

Net cash from settlement of foreign currency derivatives

63

(57)

231

Other investing activities

39

18

20

Net cash used in investing activities

(1,450)

(1,305)

(974)

 

 

 

 

Financing activities:

 

 

 

Net changes in debt with maturities of 90 days or less

207

(152)

3

Increase in debt

921

912

68

Repayment of debt

(1,007)

(1,249)

(101)

Delivery of shares

163

192

107

Purchase of treasury stock

(251)

(1,299)

(1,487)

Dividends paid

(1,635)

(1,357)

Reduction in nominal value of common shares paid to shareholders

(1,610)

(392)

Dividends paid to noncontrolling shareholders

(127)

(122)

(137)

Other financing activities

(6)

(27)

(84)

Net cash used in financing activities

(1,735)

(3,355)

(3,380)

 

 

 

 

Effects of exchange rate changes on cash and equivalents

268

(104)

(342)

Net change in cash and equivalents — continuing operations

882

(921)

(878)

 

 

 

 

Cash and equivalents, beginning of period

3,644

4,565

5,443

Cash and equivalents, end of period

4,526

3,644

4,565

 

 

 

 

Supplementary disclosure of cash flow information:

 

 

 

Interest paid

205

213

221

Taxes paid

894

814

1,043