Consolidated Statements of Cash Flows

Year ended December 31 ($ in millions)

2018

2017

2016

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

See accompanying Notes to the Consolidated Financial Statements.

 

 

 

 

Operating activities:

 

 

 

Net income

2,298

2,365

2,034

Less: Income from discontinued operations, net of tax

(723)

(846)

(799)

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

 

 

 

Depreciation and amortization

916

836

870

Deferred taxes

(142)

(199)

(145)

Net loss (gain) from derivatives and foreign exchange

93

29

(10)

Net gain from sale of property, plant and equipment

(57)

(37)

(37)

Net loss (gain) from sale of businesses

(57)

(252)

10

Share-based payment arrangements

50

49

45

Other

(76)

4

111

Changes in operating assets and liabilities:

 

 

 

Trade receivables, net

(144)

(178)

(118)

Contract assets and liabilities

(18)

6

(38)

Inventories, net

(336)

(66)

185

Trade payables

454

474

186

Accrued liabilities

252

99

52

Provisions, net

87

(4)

40

Income taxes payable and receivable

(102)

202

115

Other assets and liabilities, net

(143)

106

106

Net cash provided by operating activities – continuing operations

2,352

2,588

2,607

Net cash provided by operating activities – discontinued operations

572

1,211

1,236

 

 

 

 

Net cash provided by operating activities

2,924

3,799

3,843

 

 

 

 

Investing activities:

 

 

 

Purchases of investments

(322)

(666)

(4,299)

Purchases of property, plant and equipment and intangible assets

(772)

(752)

(632)

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

(2,664)

(2,011)

(26)

Proceeds from sales of investments

567

1,443

3,295

Proceeds from maturity of investments

160

100

539

Proceeds from sales of property, plant and equipment

72

61

59

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

113

607

(1)

Net cash from settlement of foreign currency derivatives

(30)

63

(57)

Other investing activities

(32)

37

14

Net cash used in investing activities – continuing operations

(2,908)

(1,118)

(1,108)

Net cash used in investing activities – discontinued operations

(177)

(332)

(197)

 

 

 

 

Net cash used in investing activities

(3,085)

(1,450)

(1,305)

 

 

 

 

Financing activities:

 

 

 

Net changes in debt with maturities of 90 days or less

221

204

(144)

Increase in debt

1,914

920

911

Repayment of debt

(830)

(1,000)

(1,242)

Delivery of shares

42

163

192

Purchase of treasury stock

(250)

(251)

(1,299)

Dividends paid

(1,717)

(1,635)

Reduction in nominal value of common shares paid to shareholders

(1,610)

Dividends paid to noncontrolling shareholders

(86)

(83)

(89)

Other financing activities

(35)

(6)

(27)

Net cash used in financing activities – continuing operations

(741)

(1,688)

(3,308)

Net cash used in financing activities – discontinued operations

(48)

(47)

(47)

 

 

 

 

Net cash used in financing activities

(789)

(1,735)

(3,355)

 

 

 

 

Effects of exchange rate changes on cash and equivalents

(131)

268

(104)

Net change in cash and equivalents

(1,081)

882

(921)

 

 

 

 

Cash and equivalents, beginning of period

4,526

3,644

4,565

Cash and equivalents, end of period

3,445

4,526

3,644

 

 

 

 

Supplementary disclosure of cash flow information:

 

 

 

Interest paid

243

205

213

Income taxes paid

1,026

894

814