XML 28 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net earnings before noncontrolling interests $ 2,319 $ 4,913 $ 8,079
Adjustments:      
Depreciation 1,094 931 827
Amortization 262 238 235
Stock-based compensation 132 130 137
Deferred income taxes (116) 21 (47)
Distributions from affiliates 25 34 57
Equity in earnings of unconsolidated affiliates (30) (13) (11)
Losses and impairments of assets 137   102
Changes in assets and liabilities (exclusive of acquisitions and dispositions):      
Accounts receivable 319 664 501
Inventories 518 (75) 962
Accounts payable (321) 361 (496)
Federal income taxes 97 188 (337)
Salaries, wages and related accruals (385) (291) 155
Other operating activities (72) 11 (92)
Cash provided by operating activities 3,979 7,112 10,072
Investing activities:      
Capital expenditures (3,173) (2,214) (1,948)
Investment in and advances to affiliates   (35)  
Sale of business 1   100
Disposition of plant and equipment 17 15 32
Acquisitions (net of cash acquired) (758) (71) (3,553)
Purchases of investments (1,296) (1,472) (914)
Proceeds from the sale of investments 1,487 1,317 590
Other investing activities (12) (36) (10)
Cash used in investing activities (3,734) (2,496) (5,703)
Financing activities:      
Net change in short-term debt 105 (25) (59)
Proceeds from issuance of long-term debt, net of discount     2,092
Repayment of long-term debt (10) (10) (1,111)
Bond issuance costs     (13)
Proceeds from exercise of stock options 4 12 23
Payment of tax withholdings on certain stock-based compensation (53) (49) (64)
Distributions to noncontrolling interests (352) (435) (332)
Cash dividends (522) (515) (534)
Acquisition of treasury stock (2,217) (1,554) (2,763)
Proceeds from government incentives     275
Other financing activities (13) (17) (25)
Cash used in financing activities (3,058) (2,593) (2,511)
Effect of exchange rate changes on cash (16) 3 (6)
(Decrease) increase in cash and cash equivalents and restricted cash and cash equivalents (2,829) 2,026 1,852
Cash and cash equivalents and restricted cash and cash equivalents - beginning of year 6,387 4,361 2,509
Cash and cash equivalents and restricted cash and cash equivalents - end of year 3,558 6,387 4,361
Non-cash investing activity:      
Change in accrued plant and equipment purchases $ 115 $ 1 $ 5