CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Cash flows from operating activities
Net earnings including non-controlling interests	$ 509	$ 1,200
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	578	566
Asset impairment charges	105	10
Deferred income taxes	(59)	(92)
Equity in earnings of affiliates, net of dividends	(18)	(121)
Stock compensation expense	72	84
Loss on sales / investment revaluation, net	150	9
Other – net	(104)	36
Changes in operating assets and liabilities
Segregated investments	1,261	(261)
Trade receivables	197	(180)
Inventories	2,152	1,443
Other current assets	(41)	628
Trade payables	(1,157)	(1,257)
Payables to brokerage customers	708	(390)
Accrued expenses and other payables	(397)	(507)
Net cash provided by operating activities	3,956	1,168
Cash flows from investing activities
Capital expenditures	(596)	(690)
Net assets of businesses acquired	(95)	(936)
Proceeds from sales of assets	41	16
Purchases of marketable securities	(11)	0
Proceeds from sales of marketable securities	267	0
Other – net	3	(2)
Net cash used in investing activities	(391)	(1,612)
Cash flows from financing activities
Net (repayments) borrowings under lines of credit agreements	(1,057)	2,208
Share repurchases, net of tax	0	(2,327)
Cash dividends	(495)	(503)
Acquisition of non-controlling interest	(4)	0
Other – net	(23)	(39)
Net cash used in financing activities	(1,579)	(661)
Effect of exchange rate on cash, cash equivalents, restricted cash, and restricted cash equivalents	34	(14)
Increase (Decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents	2,020	(1,119)
Cash, cash equivalents, restricted cash, and restricted cash equivalents - beginning of period	3,924	5,390
Cash, cash equivalents, restricted cash, and restricted cash equivalents - end of period	$ 5,944	$ 4,271