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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net earnings $ 498 $ 314
Provision for credit losses 8 14
Deferred income taxes and tax uncertainties (8) 0
Depreciation and amortization 92 95
Impairment of goodwill, intangible and long-lived assets 0 177
Net (gains) losses from sale or redemption of assets and business divestitures (4) 110
Stock-based compensation 25 26
Subtotal 113 422
Change in operating assets and liabilities:    
Accounts receivable (180) (113)
Inventories 22 (144)
Prepaid expenses and other assets (8) (37)
Trade accounts payable 178 79
Accrued liabilities (7) (32)
Income taxes, net (50) (18)
Other non-current liabilities (3) 5
Subtotal (48) (260)
Net cash provided by operating activities 563 476
Cash flows from investing activities:    
Additions to property, buildings, equipment and intangibles (147) (93)
Proceeds from sale or redemption of assets and business divestitures 17 13
Other - net 0 (2)
Net cash used in investing activities (130) (82)
Cash flows from financing activities:    
Borrowings under lines of credit 0 12
Payments against lines of credit 0 (50)
Proceeds from long-term debt 0 1,500
Payments of long-term debt (8) (347)
Proceeds from stock options exercised 30 28
Payments for employee taxes withheld from stock awards (28) (14)
Purchases of treasury stock (283) (101)
Cash dividends paid (176) (164)
Other - net 2 0
Net cash (used in) provided by financing activities (463) 864
Exchange rate effect on cash and cash equivalents (8) (15)
Net change in cash and cash equivalents (38) 1,243
Cash and cash equivalents at beginning of year 585 360
Cash and cash equivalents at end of period $ 547 $ 1,603