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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income including noncontrolling interests $ 729 $ 414
Adjustments to reconcile net income including noncontrolling interests to net cash provided by operations:    
Depreciation and amortization 150 128
ERISA litigation matter 0 267
Restructuring and termination benefits, net of cash 30 (7)
Stock-based compensation expense 19 14
Deferred income taxes 12 (20)
Cash effects of changes in:    
Receivables (252) (57)
Inventories 11 (24)
Accounts payable and other accruals 8 (2)
Other non-current assets and liabilities (26) 22
Net cash provided by (used in) operations 681 735
Investing Activities    
Capital expenditures (126) (163)
Purchases of marketable securities and investments (139) (112)
Proceeds from sale of marketable securities and investments 78 14
Other investing activities (6) (3)
Net cash provided by (used in) investing activities (193) (264)
Financing Activities    
Short-term borrowing (repayment) less than 90 days, net 728 (927)
Principal payments of debt (500) (500)
Proceeds from issuance of debt 1 1,495
Dividends paid (394) (390)
Purchases of treasury shares (509) (180)
Proceeds from exercise of stock options 336 122
Other financing activities (23) 5
Net cash provided by (used in) financing activities (361) (375)
Effect of exchange rate changes on Cash and cash equivalents (14) (4)
Net increase (decrease) in Cash and cash equivalents 113 92
Cash and cash equivalents at beginning of the period 966 775
Cash and cash equivalents at end of the period 1,079 867
Supplemental Cash Flow Information    
Income taxes paid 150 171
Interest paid $ 123 $ 94