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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES    
Net earnings $ 1,133 $ 1,028
Adjustments to reconcile net earnings to operating cash flows:    
Depreciation and amortization 395 408
Stock-based compensation expense 77 72
Deferred income tax provision/(benefit)   (86)
Asset impairments and accelerated depreciation 168 142
Loss on early extinguishment of debt 11  
Gain on equity method investment exchange   (43)
Loss on divestiture 3  
Equity method investment net earnings (133) (187)
Distributions from equity method investments 132 58
Other non-cash items, net (29) 126
Change in assets and liabilities, net of acquisitions and divestitures:    
Receivables, net 153 (27)
Inventories, net (181) (63)
Accounts payable (430) (319)
Other current assets (88) 23
Other current liabilities (646) (457)
Change in pension and postretirement assets and liabilities, net (303) (338)
Net cash provided by operating activities 262 337
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES    
Capital expenditures (488) (604)
Proceeds from divestiture, net of disbursements 169  
Proceeds from sale of property, plant and equipment and other assets 33 99
Net cash used in investing activities (286) (505)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES    
Issuances of commercial paper, maturities greater than 90 days 1,150 491
Repayments of commercial paper, maturities greater than 90 days (1,141) (68)
Net issuances of other short-term borrowings 2,230 2,008
Long-term debt proceeds 350 1,149
Long-term debt repaid (1,469) (1,757)
Repurchase of Common Stock (1,069) (1,312)
Dividends paid (581) (537)
Other 154 54
Net cash (used in)/provided by financing activities (376) 28
Effect of exchange rate changes on cash and cash equivalents 56 25
Cash and cash equivalents:    
Decrease (344) (115)
Balance at beginning of period 1,741 1,870
Balance at end of period $ 1,397 $ 1,755