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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net earnings (loss) $ 329 $ 548
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities    
Asset impairments 29 83
Depreciation, amortization and accretion 175 170
Pension and postretirement net periodic benefit cost (49) (30)
Pension and postretirement contributions (23) (24)
Deferred income taxes, net (15) (17)
(Gain) loss on disposition of businesses and assets, net 1 1
Stock-based compensation 20 27
Undistributed earnings in unconsolidated affiliates 17 22
Other, net 10 13
Operating cash provided by (used in) discontinued operations 6 0
Changes in operating assets and liabilities    
Trade receivables - third party and affiliates, net 167 52
Inventories 27 39
Other assets 84 (21)
Trade payables - third party and affiliates (150) (51)
Other liabilities 10 (81)
Net cash provided by (used in) operating activities 638 731
Investing Activities    
Capital expenditures on property, plant and equipment (207) (144)
Acquisitions, net of cash acquired (88) (91)
Proceeds from sale of businesses and assets, net 3 0
Other, net (17) (8)
Net cash provided by (used in) investing activities (309) (243)
Financing Activities    
Net change in short-term borrowings with maturities of 3 months or less (136) 105
Proceeds from short-term borrowings 306 0
Repayments of short-term borrowings (50) (12)
Proceeds from long-term debt 0 (499)
Repayments of long-term debt (16) (348)
Purchases of treasury stock, including related fees (167) (488)
Common stock dividends (148) (148)
Distributions to noncontrolling interests (13) (7)
Other, net (24) (38)
Net cash provided by (used in) financing activities (248) (437)
Exchange rate effects on cash and cash equivalents (5) 1
Net increase (decrease) in cash and cash equivalents 76 52
Cash and cash equivalents as of beginning of period 463 439
Cash and cash equivalents as of end of period $ 539 $ 491