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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES    
Net earnings $ 3,900 $ 3,942
Adjustments to reconcile net earnings to operating cash flows:    
Depreciation and amortization 472 488
Deferred income tax (benefit) provision (125) (45)
Cash effects of changes in:    
Receivables, net (773) (65)
Inventories 386 (526)
Accounts payable (101) (128)
Accrued liabilities and other current assets 542 2,023
Income taxes (101) (360)
Pension plan contributions (71) (41)
Other 554 [1] 85
Net cash provided by operating activities 4,683 5,373
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES    
Capital expenditures (502) (774)
Investments in unconsolidated subsidiaries and equity securities (28) (30)
Deconsolidation of RBH (Note 20) (1,346) [2] 0
Net investment hedges 116 77
Other 11 44
Net cash used in investing activities (1,749) (683)
Short-term borrowing activity by original maturity:    
Net issuances (repayments) - maturities of 90 days or less (429) 119
Issuances - maturities longer than 90 days 989 0
Repayments - maturities longer than 90 days (989) 0
Long-term debt proceeds 1,628 0
Long-term debt repaid (2,971) (2,483)
Dividends paid (3,557) (3,332)
Sale (purchase) of subsidiary shares to/(from) noncontrolling interests (Note 17) 45  
Sale (purchase) of subsidiary shares to/(from) noncontrolling interests (Note 17)   (85)
Other (271) (234)
Net cash used in financing activities (5,555) (6,015)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 14 (529)
Cash, cash equivalents and restricted cash:    
Increase (Decrease) [3] (2,607) (1,854)
Balance at beginning of period [3] 6,620 8,476
Balance at end of period [3] $ 4,013 $ 6,622
[1] Includes the Loss on Deconsolidation of RBH ($239 million), the Canadian tobacco litigation-related charge ($194 million) and the Asset impairment and exit cost charge ($43 million) that were included in marketing, administration and research costs in the condensed consolidated statements of earnings for the six months ended June 30, 2019. For further details on these charges, see Note 19. Asset Impairment and Exit Costs and Note 20. Deconsolidation of RBH.
[2] Includes deconsolidation of RBH cash and cash equivalents of $1,323 million and restricted cash of $23 million.
[3] The amounts for cash and cash equivalents shown above include restricted cash of $5 million and $35 million as of June 30, 2019 and 2018, respectively, and $27 million and $29 million as of December 31, 2018, and 2017, respectively, which were included in other current assets in the condensed consolidated balance sheets.