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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
$ in Millions
6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Operating Activities    
Net income before allocation to noncontrolling interests $ 1,349 $ 1,223
Adjustments to reconcile net income before noncontrolling interests to net cash provided by operating activities:    
Depreciation and amortization expense 242 [1],[2] 253 [1],[2]
Share-based compensation expense 39 37
Asset write-offs and asset impairments 33 13
Net loss on sale of business, excluding transaction costs 3 22
Provision for losses on inventory 32 42
Deferred taxes 12 (144)
Other non-cash adjustments (5) 11
Other changes in assets and liabilities, net of acquisitions and divestitures:    
Accounts receivable (194) (112)
Inventories (168) (115)
Other assets (162) (35)
Accounts payable 24 20
Other liabilities (104) (88)
Other tax accounts, net (28) (30)
Net cash provided by operating activities 1,073 1,097
Investing Activities    
Capital expenditures (327) (272)
Acquisitions, net of cash acquired (10) (8)
Purchase of investments (3) (3)
(Payments of)/proceeds from derivative instrument activity, net (76) 21
Proceeds from sale of business, net of cash sold and working capital adjustments (4) 0
Net proceeds from sale of assets 0 1
Other investing activities (2) (2)
Net cash used in investing activities (422) (263)
Financing Activities    
Decrease in short-term borrowings, net 0 (3)
Payment of consideration related to previous acquisitions 0 (5)
Share-based compensation-related proceeds, net of taxes paid on withholding shares (12) (12)
Purchases of treasury stock, including excise taxes paid (781) (872)
Cash dividends paid (447) (395)
Other financing activities (1) 0
Net cash used in financing activities (1,241) (1,287)
Effect of exchange-rate changes on cash and cash equivalents 38 (14)
Net decrease in cash and cash equivalents (552) (467)
Cash and cash equivalents at beginning of period 1,987 2,041
Cash and cash equivalents at end of period 1,435 1,574
Cash paid during the period for:    
Income taxes(a) 475 [3] 481 [3]
Interest, net of capitalized interest 137 138
Amounts included in the measurement of lease liabilities:    
Operating cash flows - operating leases 34 30
Financing cash flows - finance leases 2 1
Non-cash transactions:    
Capital expenditures 3 3
Excise tax accrued on net share repurchases, not paid 7 8
Lease obligations obtained in exchange for right-of-use assets - operating 58 26
Lease obligations obtained in exchange for right-of-use assets - finance 1 $ 0
Dividends declared, not paid $ 222  
[1] Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized.
[2] Defined as income before provision for taxes on income.
[3] For the six months ended June 30, 2025, includes $88 million related to the purchase of transferable federal tax credits.