Companies in the S&P 500 will spent $2.2 trillion dollars next year, according to Goldman Sachs.

Goldman's Chief U.S. Equity Strategist David Kostin and his team figure 54 percent of that total spending amount will go towards "growth" activities such as capital expenditure, research and development, and mergers and acquisitions -- up 3 percent compared to 2015. Meanwhile, some 46 percent will be spent returning cash to shareholders in various forms. That's up 7 percent compared to this year.