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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Cash Flows [Abstract]      
Net earnings (loss) $ 1,964 $ 1,902 $ 1,896
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities      
Asset impairments 15 14 2
Depreciation, amortization and accretion 739 478 378
Pension and postretirement net periodic benefit cost 13 (85) (136)
Pension and postretirement contributions (49) (48) (51)
Actuarial (gain) loss on pension and postretirement plans 66 81 41
Pension curtailments and settlements, net 1 0 3
Deferred income taxes, net (967) (835) 13
(Gain) loss on disposition of businesses and assets, net (501) (8) (5)
Stock-based compensation 40 60 95
Undistributed earnings in unconsolidated affiliates 55 (3) (34)
Other, net 9 11 28
Operating cash provided by (used in) discontinued operations (2) (28) 15
Changes in operating assets and liabilities      
Trade receivables - third party and affiliates, net 105 218 (396)
Inventories 398 (253) (367)
Other assets 277 (13) (80)
Trade payables - third party and affiliates 20 (84) 353
Other liabilities (284) 412 2
Net cash provided by (used in) operating activities 1,899 1,819 1,757
Investing Activities      
Capital expenditures on property, plant and equipment (568) (543) (467)
Acquisitions, net of cash acquired 52 (10,589) (1,142)
Proceeds from sale of businesses and assets, net 480 48 27
Proceeds from sale of marketable securities 0 0 516
Other, net (98) (57) (53)
Net cash provided by (used in) investing activities (134) (11,141) (1,119)
Financing Activities      
Net change in short-term borrowings with maturities of 3 months or less (278) 36 206
Proceeds from short-term borrowings 452 500 0
Repayments of short-term borrowings (603) 0 (6)
Proceeds from long-term debt 3,001 10,769 990
Repayments of long-term debt (3,660) (526) (786)
Purchases of treasury stock, including related fees 0 (17) (1,000)
Common stock dividends (305) (297) (304)
Distributions/dividends to noncontrolling interests (11) (13) (27)
Settlement of forward-starting interest rate swaps 0 0 (72)
Issuance cost of bridge facility 0 (63) 0
Other, net (52) (99) (43)
Net cash provided by (used in) financing activities (1,456) 10,290 (1,042)
Exchange rate effects on cash and cash equivalents (12) 4 (15)
Net increase (decrease) in cash and cash equivalents 297 972 (419)
Cash and cash equivalents as of beginning of period 1,508 536 955
Cash and cash equivalents as of end of period $ 1,805 $ 1,508 $ 536