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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net earnings $ 1,114 $ 755 $ 895
Provision for credit losses 18 22 12
Deferred income taxes and tax uncertainties 27 (5) 4
Depreciation and amortization 185 182 229
Impairment of goodwill, intangible and long-lived assets 0 187 123
Net (gains) losses from sales of assets and business divestitures (6) 106 (6)
Stock-based compensation 42 46 40
Subtotal 266 538 402
Change in operating assets and liabilities      
Accounts receivable (324) (121) (42)
Inventories (152) (158) (106)
Prepaid expenses and other assets (15) (23) (33)
Trade accounts payable 54 80 32
Accrued liabilities 43 15 (84)
Income taxes – net (26) 24 (3)
Other non-current liabilities (23) 13 (19)
Subtotal (443) (170) (255)
Net cash provided by operating activities 937 1,123 1,042
Cash flows from investing activities:      
Additions to property, buildings, equipment and intangibles (255) (197) (221)
Proceeds from sale or redemption of assets and business divestitures 29 20 17
Other – net 0 (2) 2
Net cash used in investing activities (226) (179) (202)
Cash flows from financing activities:      
Borrowings under lines of credit 0 12 20
Payments against lines of credit 0 (65) (15)
Proceeds from long-term debt 0 1,584 0
Payments of long-term debt (8) (1,370) (42)
Proceeds from stock options exercised 48 70 49
Payments for employee taxes withheld from stock awards (30) (18) (11)
Purchases of treasury stock (695) (601) (700)
Cash dividends paid (357) (338) (328)
Other – net 3 0 4
Net cash used in financing activities (1,039) (726) (1,023)
Exchange rate effect on cash and cash equivalents (16) 7 5
Net change in cash and cash equivalents: (344) 225 (178)
Cash and cash equivalents at beginning of year 585 360 538
Cash and cash equivalents at end of year 241 585 360
Supplemental cash flow information:      
Cash payments for interest (net of amounts capitalized) 87 94 84
Cash payments for income taxes $ 377 $ 180 $ 322