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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Statement of Cash Flows [Abstract]      
Net earnings (loss) $ 1,992 $ 858 $ 1,213
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities      
Asset impairments 31 83 0
Depreciation, amortization and accretion 356 356 349
Pension and postretirement net periodic benefit cost (99) (58) (92)
Pension and postretirement contributions (48) (47) (47)
Actuarial (gain) loss on pension and postretirement plans 96 87 165
Pension curtailments and settlements, net (1) 0 (1)
Deferred income taxes, net 77 (31) 137
(Gain) loss on disposition of businesses and assets, net 3 3 7
Stock-based compensation 28 48 71
Undistributed earnings in unconsolidated affiliates 13 (14) (12)
Gain on Sale of Investments (1,408) 0 0
Other, net 18 18 26
Operating cash provided by (used in) discontinued operations 5 0 (10)
Changes in operating assets and liabilities      
Trade receivables - third party and affiliates, net 141 165 (48)
Inventories 124 6 (158)
Other assets 60 (9) (113)
Trade payables - third party and affiliates (6) (59) 15
Other liabilities (39) 48 56
Net cash provided by (used in) operating activities 1,343 1,454 1,558
Investing Activities      
Capital expenditures on property, plant and equipment (364) (370) (337)
Acquisitions, net of cash acquired (100) (91) (144)
Proceeds from sale of businesses and assets, net 21 1 13
Proceeds from Sale of Equity Method Investments 1,575 0 0
Proceeds from Sale and Maturity of Marketable Securities 43 0 0
Purchases of marketable securities (544) (16) 0
Other, net (39) (17) (39)
Net cash provided by (used in) investing activities 592 (493) (507)
Financing Activities      
Net change in short-term borrowings with maturities of 3 months or less (287) 247 (38)
Proceeds from short-term borrowings 311 117 51
Repayments of short-term borrowings (466) (91) (78)
Proceeds from long-term debt 0 499 561
Repayments of long-term debt (30) (360) (536)
Purchases of treasury stock, including related fees (650) (996) (805)
Stock option exercises 0 (1) 0
Common stock dividends (293) (300) (280)
(Distributions to) contributions from noncontrolling interests (29) (10) (23)
Other, net (27) (40) (17)
Net cash provided by (used in) financing activities (1,471) (935) (1,165)
Exchange rate effects on cash and cash equivalents 28 (2) (23)
Net increase (decrease) in cash and cash equivalents 492 24 (137)
Cash and cash equivalents as of beginning of period 463 439 576
Cash and cash equivalents as of end of period $ 955 $ 463 $ 439