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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES      
Net earnings $ 4,968 $ 2,726 $ 4,314
Adjustments to reconcile net earnings to operating cash flows:      
Depreciation and amortization 1,215 1,107 1,113
Stock-based compensation expense 146 120 121
Deferred income tax (benefit)/provision (37) (42) 205
Asset impairments and accelerated depreciation 128 233 128
Loss on early extinguishment of debt 1 38 110
Net gain on divestitures and acquisitions (108) 0 (8)
(Gain)/loss on equity method investment transactions (465) 22 (742)
Equity method investment net earnings (160) [1] (385) (393)
Distributions from equity method investments 137 184 172
Unrealized (gain)/loss on derivative contracts (171) 338 (267)
Gain on marketable securities (593) 0 0
Other non-cash items, net 140 88 37
Change in assets and liabilities, net of acquisitions and divestitures:      
Receivables, net (628) (719) (197)
Inventories, net (193) (635) (170)
Accounts payable 264 715 702
Other current assets (120) (286) (169)
Other current liabilities 376 630 (502)
Change in pension and postretirement assets and liabilities, net (186) (226) (313)
Net cash provided by operating activities 4,714 3,908 4,141
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES      
Capital expenditures (1,112) (906) (965)
Acquisitions, net of cash received 19 (5,286) (833)
Proceeds from divestitures including equity method and marketable security investments 4,099 601 1,539
Proceeds from derivative settlements 177 768 105
Payments for derivative settlements (81) (86) (56)
Contributions to investments (309) (24) (30)
Proceeds from sale of property, plant and equipment and other 19 45 214
Net cash provided by/(used in) by investing activities 2,812 (4,888) (26)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES      
Issuances of commercial paper, maturities greater than 90 days 67 0 0
Repayments of commercial paper, maturities greater than 90 days (67) 0 0
Net (repayments)/issuances of short-term borrowings (1,869) 1,914 194
Long-term debt proceeds 277 4,490 5,921
Long-term debt repayments (2,432) (3,032) (6,247)
Repurchases of Common Stock (1,547) (2,017) (2,110)
Dividends paid (2,160) (1,985) (1,826)
Other 173 174 (1)
Net cash used in financing activities (7,558) (456) (4,069)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (32) (169) (143)
Cash, cash equivalents and restricted cash:      
(Decrease)/increase (64) (1,605) (97)
Balance at beginning of period 1,948 3,553 3,650
Balance at end of period 1,884 1,948 3,553
Cash paid:      
Interest 568 551 426
Income taxes $ 1,607 $ 1,103 $ 1,556
[1] The 2023 summarized earnings information is inclusive of KDP only for the period in which we accounted for this investment under the equity method.