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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net earnings $ 4,764 $ 7,209 $ 6,433
Less: earnings from discontinued operations, net of income taxes (543) (881) (986)
Net earnings from continuing operations 4,221 6,328 5,447
Noncash items:      
Depreciation 675 698 674
Amortization of intangible assets 1,491 1,434 1,388
Amortization of acquisition-related inventory fair value step-up 8 0 59
Stock-based compensation expense 306 295 184
Contract settlement expense 0 0 542
Pretax loss on early extinguishment of borrowings 0 0 96
Pretax gain on sale of product lines and investment (gains) losses 182 271 (406)
Change in deferred income taxes (1,204) (582) (102)
Change in trade accounts receivable, net 322 (389) (597)
Change in inventories 185 (448) (427)
Change in trade accounts payable (149) (18) 484
Change in prepaid expenses and other assets 419 (73) 17
Change in accrued expenses and other liabilities 34 97 64
Total operating cash provided by continuing operations 6,490 7,613 7,423
Total operating cash provided by discontinued operations 674 906 935
Net cash provided by operating activities 7,164 8,519 8,358
Cash flows from investing activities:      
Cash paid for acquisitions (5,610) (582) (10,901)
Payments for additions to property, plant and equipment (1,383) (1,118) (1,240)
Proceeds from sales of property, plant and equipment 12 9 13
Payments for purchases of investments (172) (523) (925)
Proceeds from sales of investments 61 18 126
All other investing activities 44 51 37
Total cash used in investing activities from continuing operations (7,048) (2,145) (12,890)
Total investing cash used in discontinued operations (33) (89) (97)
Net cash used in investing activities (7,081) (2,234) (12,987)
Cash flows from financing activities:      
Proceeds from the issuance of common stock in connection with stock-based compensation 68 31 86
Payment of dividends (821) (818) (742)
Net (repayments of) proceeds from borrowings (maturities of 90 days or less) (1,006) (723) 2,265
Proceeds from borrowings (maturities longer than 90 days) 0 0 984
Repayments of borrowings (maturities longer than 90 days) (620) (965) (1,186)
Distribution from discontinued operations 2,600 0 0
Make-whole premiums to redeem borrowings prior to maturity 0 0 (96)
All other financing activities (67) (95) (16)
Net cash provided by (used in) financing activities for continuing operations 154 (2,570) 1,295
Cash distributions to Veralto Corporation, net (427) 0 0
Net cash (used in) provided by financing activities (273) (2,570) 1,295
Effect of exchange rate changes on cash and equivalents 59 (306) (115)
Net change in cash and equivalents (131) 3,409 (3,449)
Beginning balance of cash and equivalents 5,995 2,586 6,035
Ending balance of cash and equivalents 5,864 5,995 2,586
Supplemental disclosure:      
Distribution of noncash net assets to Veralto Corporation $ (1,674) $ 0 $ 0