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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES    
Net earnings $ 1,728 $ 1,372
Adjustments to reconcile net earnings to operating cash flows:    
Depreciation and amortization 517 407
Stock-based compensation expense 71 67
U.S. tax reform transition tax 2 86
Deferred income tax provision/(benefit) 36 (15)
Asset impairments and accelerated depreciation 4 43
Loss on debt extinguishment 0 140
Net gain on divestiture (41) 0
Net loss on equity method investment transactions 2 0
Equity method investment net earnings (226) (319)
Distributions from equity method investments 188 151
Other non-cash items, net (46) 366
Change in assets and liabilities, net of acquisitions and divestitures:    
Receivables, net 135 112
Inventories, net (145) (240)
Accounts payable (430) (325)
Other current assets (20) (41)
Other current liabilities (638) (481)
Change in pension and postretirement assets and liabilities, net (91) (141)
Net cash provided by operating activities 1,046 1,182
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES    
Capital expenditures (465) (532)
Acquisition, net of cash received 0 (528)
Proceeds from divestiture, net of disbursements 163 0
Proceeds from sale of property, plant and equipment and other 35 19
Net cash used in investing activities (267) (1,041)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES    
Issuances of commercial paper, maturities greater than 90 days 809 1,315
Repayments of commercial paper, maturities greater than 90 days (2,169) (1,020)
Net issuances of other short-term borrowings 1,958 298
Long-term debt proceeds 597 2,948
Long-term debt repaid (409) (1,442)
Repurchase of Common Stock (940) (1,177)
Dividends paid (756) (657)
Other 271 124
Net cash (used in)/provided by financing activities (639) 389
Effect of exchange rate changes on cash and cash equivalents 8 (45)
Cash and cash equivalents:    
Increase 148 485
Balance at beginning of period 1,100 761
Balance at end of period $ 1,248 $ 1,246