 |
|
|
$
in millions |
1999 |
|
|
1998 |
1997 |
|
| |
|
Cash Flows from Operating Activities |
|
|
|
|
|
| |
|
Net income |
$ 2,720 |
|
$
3,294 |
$ 3,105 |
| |
|
Adjustments to reconcile net income to net cash |
|
|
|
|
| |
|
provided
by operating activities |
[453] |
|
[403] |
237 |
| |
|
Net
cash provided by operating activities |
2,267 |
|
2,891 |
3,342 |
| |
|
|
|
|
|
|
| |
|
Cash Flows from Investing Activities |
|
|
|
|
| |
|
Proceeds from sales |
31,312 |
|
19,356 |
16,725 |
| |
|
Investment collections |
5,809 |
|
7,140 |
7,197 |
| |
|
Investment purchases |
[40,912] |
|
[26,744] |
[25,752] |
| |
|
Change in short-term investments, net |
454 |
|
[610] |
427 |
| |
|
Change in other investments, net |
[34] |
|
[95] |
[105] |
| |
|
Acquisitions |
971 |
|
[275] |
— |
| |
|
Proceeds from disposition of operations |
— |
|
49 |
138 |
| |
|
Purchases of property and equipment, net |
[212] |
|
[188] |
[150] |
| |
|
Net
cash used in investing activities |
[2,612] |
|
[1,367] |
[1,520] |
| |
|
|
|
|
|
|
| |
|
Cash Flows from Financing Activities |
|
|
|
|
| |
|
Net
cash provided by [used in] |
|
|
|
|
| |
|
financing
activities |
341 |
|
[1,486] |
[1,718] |
| |
|
|
|
|
|
|
| |
|
Net Increase [Decrease] in Cash |
[4] |
|
38 |
104 |
| |
|
Cash at Beginning of Year |
258 |
|
220 |
116 |
| |
|
Cash at End of Year |
$ 254 |
|
$ 258 |
$ 220 |
