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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES    
Net earnings $ 760 $ 920
Adjustments to reconcile net earnings to operating cash flows:    
Depreciation and amortization 256 258
Stock-based compensation expense 28 32
Deferred income tax provision/(benefit) (26) 2
Asset impairments and accelerated depreciation 0 5
Gains on equity method investment transactions (71) (23)
Equity method investment net earnings (138) (113)
Distributions from equity method investments 165 160
Other non-cash items, net 126 16
Change in assets and liabilities, net of acquisitions and divestitures:    
Receivables, net (610) (570)
Inventories, net (48) (36)
Accounts payable 206 (139)
Other current assets (217) 47
Other current liabilities (71) (45)
Change in pension and postretirement assets and liabilities, net (76) (49)
Net cash provided by operating activities 284 465
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES    
Capital expenditures (214) (265)
Proceeds from divestitures including equity method investments 185 0
Other (26) 42
Net cash used in investing activities (55) (223)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES    
Issuances of commercial paper, maturities greater than 90 days 157 610
Repayments of commercial paper, maturities greater than 90 days (497) (1,549)
Net issuances of other short-term borrowings 2,477 1,815
Long-term debt proceeds 0 597
Long-term debt repaid (670) (403)
Repurchase of Common Stock (720) (646)
Dividends paid (409) (380)
Other 117 157
Net cash provided by financing activities 455 201
Effect of exchange rate changes on cash, cash equivalents and restricted cash (60) (1)
Cash, cash equivalents and restricted cash:    
Increase 624 442
Balance at beginning of period 1,328 1,100
Balance at end of period $ 1,952 $ 1,542