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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:        
Net earnings (Paramount and noncontrolling interests) $ 242 $ 551 $ 1,105 $ 2,523
Less: Net earnings from discontinued operations, net of tax 78 73 181 126
Net earnings from continuing operations 164 478 924 2,397
Adjustments to reconcile net earnings from continuing operations to net cash flow provided by operating activities from continuing operations:        
Depreciation and amortization 92 95 282 289
Deferred tax benefit     (42) (21)
Stock-based compensation     127 154
Net gain on dispositions (41) 0 (56) (116)
(Gains) losses from investments 9 5 9 (47)
Loss on extinguishment of debt 0 0 120 128
Equity in loss of investee companies, net of tax 58 18 124 80
Change in assets and liabilities     (1,269) (1,336)
Net cash flow provided by operating activities from continuing operations     219 1,528
Net cash flow provided by operating activities from discontinued operations     107 124
Net cash flow provided by operating activities     326 1,652
Investing Activities:        
Investments     (189) (147)
Capital expenditures     (228) (231)
Acquisitions, net of cash acquired     0 (27)
Proceeds from dispositions     38 418
Other investing activities     (1) (26)
Net cash flow used for investing activities from continuing operations     (380) (13)
Net cash flow used for investing activities from discontinued operations     (3) (3)
Net cash flow used for investing activities     (383) (16)
Financing Activities:        
Proceeds from issuance of debt     1,114 48
Repayment of debt     (3,123) (2,220)
Dividends paid on preferred stock     (43) (15)
Dividends paid on common stock     (471) (458)
Proceeds from issuance of preferred stock     0 983
Proceeds from issuance of common stock     0 1,672
Payment of payroll taxes in lieu of issuing shares for stock-based compensation     (14) (55)
Proceeds from exercise of stock options     0 408
Payments to noncontrolling interests     (106) (215)
Other financing activities     (38) (47)
Net cash flow (used for) provided by financing activities     (2,681) 101
Effect of exchange rate changes on cash and cash equivalents     (146) (30)
Net (decrease) increase in cash, cash equivalents and restricted cash     (2,884) 1,707
Cash, cash equivalents and restricted cash at beginning of year (includes $135 (2021) of restricted cash)     6,267 3,119
Cash, cash equivalents and restricted cash at end of period (includes $3 (2021) of restricted cash) $ 3,383 $ 4,826 $ 3,383 $ 4,826