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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES      
Net earnings $ 4,314 $ 3,569 $ 3,944
Adjustments to reconcile net earnings to operating cash flows:      
Depreciation and amortization 1,113 1,116 1,047
Stock-based compensation expense 121 126 135
U.S. tax reform transition tax/(benefit) 0 0 5
Deferred income tax provision/(benefit) 205 (70) (631)
Asset impairments and accelerated depreciation 128 136 109
Loss on early extinguishment of debt 110 185 0
Net gain on acquisition and divestitures (8) 0 (44)
Net (gain)/loss on equity method investment transactions (742) (989) 2
Equity method investment net earnings (393) (421) (501)
Distributions from equity method investments 172 246 250
Other non-cash items, net (230) 243 97
Change in assets and liabilities, net of acquisitions and divestitures:      
Receivables, net (197) 59 124
Inventories, net (170) (24) 31
Accounts payable 702 436 4
Other current assets (169) (207) (77)
Other current liabilities (502) (208) (362)
Change in pension and postretirement assets and liabilities, net (313) (233) (168)
Net cash provided by operating activities 4,141 3,964 3,965
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES      
Capital expenditures (965) (863) (925)
Acquisitions, net of cash received (833) (1,136) (284)
Proceeds from divestitures including equity method investments 1,539 2,489 167
Proceeds from sale of property, plant and equipment and other 233 10 82
Net cash (used in)/provided by investing activities (26) 500 (960)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES      
Issuances of commercial paper, maturities greater than 90 days 0 677 1,306
Repayments of commercial paper, maturities greater than 90 days 0 (1,174) (2,367)
Net issuances/(repayments) of other short-term borrowings 194 (2,116) 524
Long-term debt proceeds 5,921 7,213 3,136
Long-term debt repayments (6,247) (3,878) (2,677)
Repurchases of Common Stock (2,110) (1,390) (1,480)
Dividends paid (1,826) (1,678) (1,542)
Other (1) 131 313
Net cash used in financing activities (4,069) (2,215) (2,787)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (143) 73 10
Cash, cash equivalents and restricted cash:      
(Decrease)/increase (97) 2,322 228
Balance at beginning of period 3,650 1,328 1,100
Balance at end of period 3,553 3,650 1,328
Cash paid:      
Interest 426 413 486
Income taxes $ 1,556 $ 1,264 $ 981