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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities:      
Net income from continuing operations $ 5,013 $ 3,380 $ 5,327
Adjustments to reconcile net income from continuing operations to net cash flows provided by operating activities from continuing operations:      
Depreciation and amortization 4,364 4,211 4,108
Deferred income tax benefit (47) (402) (1,663)
Stock compensation cost 437 425 420
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash (1,326) (1,555) (1,413)
Gain on sale of business, net of transaction costs (Note 2) (415) 0 0
Change in:      
Accounts receivable (175) (1,805) 437
Contract assets (2,414) (753) (234)
Inventory (1,474) (1,104) (1,575)
Other current assets (402) (1,161) (1,027)
Accounts payable and accrued liabilities 1,508 4,016 2,075
Contract liabilities 1,872 2,322 846
Other operating activities, net 218 309 (133)
Net cash flows provided by operating activities from continuing operations 7,159 7,883 7,168
Investing Activities:      
Capital expenditures (2,625) (2,415) (2,288)
Payments on customer financing assets (218) (117) (150)
Receipts from customer financing assets 202 212 179
Investments in businesses 0 0 (66)
Dispositions of businesses, net of cash transferred 1,795 6 94
Increase in other intangible assets (611) (751) (487)
(Payments) receipts from settlements of derivative contracts, net (142) 14 (205)
Other investing activities, net 65 12 94
Net cash flows used in investing activities from continuing operations (1,534) (3,039) (2,829)
Financing Activities:      
Proceeds from long-term debt 0 12,914 1
Repayment of long-term debt (2,500) (578) (3)
Proceeds from bridge loan 0 10,000 0
Repayment of bridge loan 0 (10,000) 0
Change in commercial paper, net (Note 9) 0 (524) 518
Change in other short-term borrowings, net (4) 87 (29)
Dividends paid on common stock (3,217) (3,239) (3,128)
Repurchase of Common Stock (444) (12,870) (2,803)
Other financing activities, net (452) (317) (415)
Net cash flows used in financing activities from continuing operations (6,617) (4,527) (5,859)
Effect of foreign exchange rate changes on cash and cash equivalents from continuing operations (28) 18 (42)
Net (decrease) increase in cash, cash equivalents and restricted cash (1,020) 335 (1,562)
Cash, cash equivalents and restricted cash, beginning of year 6,626 6,291 7,853
Cash, cash equivalents and restricted cash, end of year 5,606 6,626 6,291
Less: Restricted cash, included in Other assets, current and Other assets 28 39 71
Cash and cash equivalents, end of year 5,578 6,587 6,220
Supplemental Disclosure of Cash Flow Information:      
Interest paid, net of amounts capitalized 1,942 1,464 1,263
Income taxes paid, net of refunds $ 1,176 $ 1,527 $ 2,400