XML 21 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES    
Net earnings $ 861 $ 968
Adjustments to reconcile net earnings to operating cash flows:    
Depreciation and amortization 275 284
Stock-based compensation expense 24 25
Deferred income tax (benefit)/provision (70) 34
Asset impairments and accelerated depreciation 155 43
Loss on early extinguishment of debt 38 110
Gain on acquisition 0 (9)
Loss on equity method investment transactions 5 7
Equity method investment net earnings (117) (78)
Distributions from equity method investments 107 74
Other non-cash items, net (13) (23)
Change in assets and liabilities, net of acquisitions and divestitures:    
Receivables, net (517) (494)
Inventories, net (81) (37)
Accounts payable 397 283
Other current assets (104) (140)
Other current liabilities 230 (55)
Change in pension and postretirement assets and liabilities, net (59) (77)
Net cash provided by operating activities 1,131 915
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES    
Capital expenditures (167) (216)
Acquisitions, net of cash received (1,418) (490)
Proceeds from divestitures including equity method investments 66 0
Proceeds from sale of property, plant and equipment and other 78 16
Net cash used in investing activities (1,441) (690)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES    
Issuances of commercial paper, maturities greater than 90 days 0 0
Repayments of commercial paper, maturities greater than 90 days 0 0
Net issuances/(repayments) of other short-term borrowings 217 647
Long-term debt proceeds 1,991 2,373
Long-term debt repayments (2,306) (3,353)
Repurchase of Common Stock (751) (1,046)
Dividends paid (491) (453)
Other 60 51
Net cash used in financing activities (1,280) (1,781)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (10) (35)
Cash, cash equivalents and restricted cash:    
(Decrease)/Increase (1,600) (1,591)
Balance at beginning of period 3,553 3,650
Balance at end of period $ 1,953 $ 2,059