United states securities and exchange commission

Adoption of Accounting Standards Update ("ASU") 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting"

In the first quarter of 2017, the Company adopted ASU 2016-09 and elected to apply changes on a retrospective basis to the consolidated statements of cash flows related to the classification of excess tax benefits and employee taxes paid for share-based payment arrangements. See Note 2 for additional information. The following table summarizes the changes made to the consolidated statements of cash flows for the years ended December 31, 2016 and 2015:

Summary of Changes to the Consolidated Statements of Cash Flows	2016						2015
In millions	As Filed			Updated			As Filed			Updated
Operating Activities
Excess tax benefits from share-based payment arrangements	$	(57	)	$	—		$	(41	)	$	—
Other assets and liabilities, net	$	(34	)	$	31		$	878		$	928
Cash provided by operating activities	$	5,478		$	5,600		$	7,516		$	7,607
Financing Activities
Excess tax benefits from share-based payment arrangements	$	57		$	—		$	41		$	—
Employee taxes paid for share-based payment arrangements	$	—		$	(65	)	$	—		$	(50	)
Cash used for financing activities	$	(3,892	)	$	(4,014	)	$	(3,041	)	$	(3,132	)

Changes in Financial Statement Presentation

As a result of the Merger, certain reclassifications of prior period amounts were made to improve comparability and conform with the current period presentation. Presentation changes were made to the consolidated statements of income, consolidated balance sheets, consolidated statements of cash flows and consolidated statements of equity. In addition, certain reclassifications of prior period data were made in the Notes to the Consolidated Financial Statements to conform with the current period presentation.

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The changes to the financial statements are summarized as follows:
Consolidated Statements of Income

Asset impairment charges were reclassified from "Cost of sales" and "Sundry income (expense) - net" to "Restructuring, goodwill impairment and asset related charges - net." Costs associated with integration and separation activities are now separately reported as “Integration and separation costs” and were reclassified from “Cost of sales” and “Selling, general and administrative expenses.” In addition, “Interest income” was reclassified to “Sundry income (expense) - net.” The following table summarizes the changes made to the consolidated statements of income for the years ended December 31, 2016 and 2015:

Summary of Changes to the Consolidated Statements of Income	2016						2015
In millions	As Filed			Updated			As Filed			Updated
Cost of sales	$	37,641		$	37,640		$	37,836		$	37,745
Selling, general and administrative expenses	$	3,304		$	2,956		$	2,971		$	2,948
Restructuring, goodwill impairment and asset related charges - net	$	452		$	595		$	415		$	559
Integration and separation costs	$	—		$	349		$	—		$	23
Sundry income (expense) - net	$	1,202		$	1,452		$	4,592		$	4,716
Interest income	$	107		$	—		$	71		$	—

Consolidated Balance Sheets

The Company reclassified “Dividends payable” to “Accrued and other current liabilities” and the current portion of deferred revenue was reclassified from “Accounts payable - Other” to “Accrued and other current liabilities.” In addition, certain derivative assets were reclassified from “Accounts and notes receivable - Other” to “Other current assets” and certain derivative liabilities were reclassified from “Accounts payable - Other” to “Accrued and other current liabilities.” A summary of the changes made to the consolidated balance sheets is as follows:

Summary of Changes to the Consolidated Balance Sheets	Dec 31, 2016
In millions	As Filed			Updated
Accounts and notes receivable - Other	$	4,358		$	4,312
Other current assets	$	665		$	711
Accounts payable - Other	$	2,401		$	2,097
Dividends payable	$	508		$	—
Accrued and other current liabilities	$	3,669		$	4,481

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Consolidated Statements of Cash Flows

The following table summarizes the changes made to the consolidated statements of cash flows for the years ended December 31, 2016 and 2015:

Summary of Changes to the Consolidated Statements of Cash Flows		2016						2015
In millions		As Filed			Updated			As Filed			Updated
Operating Activities
Net periodic pension benefit cost		$	—		$	389		$	—		$	755
Net gain on sales of assets, businesses and investments		$	—		$	(214	)	$	—		$	(4,655	)
Net gain on sales of investments		$	(116	)	$	—		$	(95	)	$	—
Net gain on sales of property, businesses and consolidated companies		$	(88	)	$	—		$	(3,811	)	$	—
Net gain on sales of ownership interests in nonconsolidated affiliates		$	(10	)	$	—		$	(749	)	$	—
Asset impairments and related costs		$	143		$	—		$	144		$	—
Restructuring, goodwill impairment and asset related charges - net		$	452		$	595		$	415		$	559
Loss on early extinguishment of debt		$	—		$	—		$	8		$	—
Other net loss		$	113		$	361		$	172		$	437
Accounts payable		$	458		$	569		$	(681	)	$	(717	)
Other assets and liabilities, net 1		$	31		$	(717	)	$	928		$	(48	)
Financing Activities
Transaction financing, debt issuance and other costs		$	(2	)	$	—		$	(88	)	$	—
Other financing activities, net		$	—		$	(2	)	$	—		$	(88	)
1.	As updated for ASU 2016-09.