XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operations    
Net income $ 328 $ 601
Adjustments to reconcile net income to cash flows from operations:    
Depreciation and amortization 735 439
Deferred income taxes (87) (36)
Stock compensation 77 59
Net periodic pension and other postretirement costs 28 51
Other (41) 10
Changes in balance sheet items:    
Accounts receivable, net 43 (42)
Inventories (308) (155)
Prepaid expenses and other current assets (67) (24)
Accounts payable 91 (9)
Accrued expenses and other current liabilities (231) (9)
Other (86) (31)
Cash flows from operations 482 854
Cash flows from investing activities    
Capital expenditures (311) (329)
Acquisitions, net of cash acquired, and investments (190) (417)
Other investing activities, net 10 20
Cash flows from investing activities (491) (726)
Cash flows from financing activities    
Repayments of debt (749) 0
Net increases (decreases) in debt with original maturities of three months or less (45) 51
Cash dividends on common stock (281) (249)
Proceeds from stock issued under employee benefit plans 88 93
Purchases of treasury stock 0 (565)
Other financing activities, net (30) (37)
Cash flows from financing activities (1,017) (707)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (74) (17)
Decrease in cash, cash equivalents and restricted cash (1,100) (596)
Cash, cash equivalents and restricted cash at beginning of period [1] 2,956 3,736
Cash, cash equivalents and restricted cash at end of period [1] 1,856 3,140
Cash and cash equivalents 1,852 3,136
Restricted cash included in prepaid expenses and other current assets $ 4 $ 4
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to the amounts reported within the condensed consolidated balance sheet as of June 30, 2022, December 31, 2021, and June 30, 2021 (in millions):
June 30, 2022December 31, 2021June 30, 2021
Cash and cash equivalents$1,852 $2,951 $3,136 
Restricted cash included in prepaid expenses and other current assets
Cash, cash equivalents and restricted cash$1,856 $2,956 $3,140