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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES      
Net earnings $ 9,710 $ 8,592 $ 7,728
Adjustments to reconcile net earnings to operating cash flows:      
Depreciation and amortization 998 981 964
Deferred income tax (benefit) provision (17) (143) (141)
Asset impairment and exit costs, net of cash paid (Note 19) (22) (14) 371
Cash effects of changes, net of the effects from acquired companies:      
Receivables, net (198) 26 (331)
Inventories 549 (165) (548)
Accounts payable 653 406 451
Accrued liabilities and other current assets 623 121 1,108
Income taxes (260) (260) 75
Pension plan contributions (269) (102) (200)
Other [1] 200 370 613
Net cash provided by operating activities 11,967 9,812 10,090
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES      
Capital expenditures (748) (602) (852)
Acquisitions, net of acquired cash (Note 6) (2,111) 0 0
Equity investments (34) (47) (31)
Deconsolidation of RBH (Note 20) [2] 0 0 (1,346)
Net investment hedges 466 (551) 386
Other 69 46 32
Net cash used in investing activities (2,358) (1,154) (1,811)
Short-term borrowing activity by original maturity:      
Net issuances (repayments) - maturities of 90 days or less 0 (70) (364)
Issuances - maturities longer than 90 days 0 45 989
Repayments - maturities longer than 90 days 0 (45) (989)
Long-term debt proceeds 0 3,713 3,819
Long-term debt repaid (3,042) (3,999) (3,998)
Repurchases of common stock (775) 0 0
Dividends paid (7,580) (7,364) (7,161)
Payments to noncontrolling interests and Other (580) (776) (357)
Net cash used in financing activities (11,977) (8,496) (8,061)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (417) 258 27
Cash, cash equivalents and restricted cash:      
Increase (Decrease) [3] (2,785) 420 245
Balance at beginning of year [3] 7,285 6,865 6,620
Balance at end of year [3] 4,500 7,285 6,865
Cash Paid:      
Interest 716 728 800
Income taxes $ 2,936 $ 2,785 $ 2,430
[1] Includes the Loss on Deconsolidation of RBH ($239 million) and the Canadian tobacco litigation-related charge ($194 million) that were included in marketing, administration and research costs in the consolidated statements of earnings for the year ended December 31, 2019. For further details on these charges, see 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, cash equivalents and restricted cash shown above include restricted cash of $4 million, $5 million and $4 million as of December 31, 2021, 2020 and 2019, respectively, which were included in other current assets in the consolidated balance sheets.