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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES    
Net earnings $ 407 $ 1,416
Adjustments to reconcile net earnings to operating cash flows:    
Depreciation and amortization 324 319
Stock-based compensation expense 18 31
Deferred income tax (benefit)/provision (96) 270
Asset impairments and accelerated depreciation 4 6
Loss on equity method investment transactions 0 665
Equity method investment net earnings (16) (31)
Distributions from equity method investments 44 81
Unrealized loss/(gain) on derivative contracts 689 (1,134)
Contingent consideration adjustments (12) 22
Other non-cash items, net 56 25
Change in assets and liabilities, net of acquisitions and divestitures:    
Receivables, net (379) (395)
Inventories, net (300) (16)
Accounts payable 222 419
Other current assets 196 (330)
Other current liabilities (58) 36
Change in pension and postretirement assets and liabilities, net (7) (60)
Net cash provided by operating activities 1,092 1,324
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES    
Capital expenditures (277) (299)
Acquisitions, net of cash received (15) 0
Proceeds from divestitures 4 4
Proceeds from derivative settlements 14 71
Payments for derivative settlements 0 (32)
Proceeds from/(contributions to) investments 22 (192)
Proceeds from sales of property, plant and equipment and other 1 2
Net cash used in investing activities (251) (446)
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES    
Net issuance/(repayment) of short-term borrowings 1,841 (166)
Long-term debt proceeds 0 547
Long-term debt repayments (453) (534)
Repurchases of Common Stock (1,522) (568)
Dividends paid (623) (578)
Other 53 76
Net cash used in financing activities (704) (1,223)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 88 (77)
Cash, cash equivalents and restricted cash:    
Increase/(decrease) 225 (422)
Balance at beginning of period 1,400 1,884
Balance at end of period $ 1,625 $ 1,462