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Consolidated Cash Flow Statement - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 535 $ 594
Depreciation and amortization 188 189
Asset impairments 0 3
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (85) 0
Stock-based compensation 16 22
Deferred income taxes (52) (35)
Net (gains) losses on asset dispositions 6 4
Equity companies' earnings (in excess of) less than dividends paid (23) (39)
Operating working capital (369) (400)
Postretirement benefits (14) (15)
Other 2 (2)
Cash Provided by Operations 204 321
Investing Activities    
Capital spending (253) (298)
Payments to Acquire Businesses, Net of Cash Acquired 34 0
Investments in time deposits (83) (159)
Maturities of time deposits 255 207
Other (1) 5
Cash Used for Investing (116) (245)
Financing Activities    
Cash dividends paid (384) (359)
Change in short-term debt 834 744
Debt proceeds 0 5
Debt repayments (300) (253)
Proceeds from exercise of stock options 23 10
Acquisitions of common stock for the treasury (25) (169)
Other (15) (30)
Cash Used for Financing 133 (52)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 2 (7)
Change in Cash and Cash Equivalents 223 17
Cash and Cash Equivalents - Beginning of Period 270 303
Cash and Cash Equivalents - End of Period $ 493 $ 320