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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net earnings $ 774 $ 498
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for credit losses 8 8
Deferred income taxes and tax uncertainties 15 (8)
Depreciation and amortization 107 92
Net gains from sale or redemption of assets 2 (4)
Stock-based compensation 27 25
Change in operating assets and liabilities:    
Accounts receivable (398) (180)
Inventories (149) 22
Prepaid expenses and other assets (50) (8)
Trade accounts payable 263 178
Accrued liabilities (8) (7)
Income taxes – net 10 (50)
Other non-current liabilities (8) (3)
Net cash provided by operating activities 593 563
Cash flows from investing activities:    
Additions to property, buildings, equipment and intangibles (163) (147)
Proceeds from sale or redemption of assets 2 17
Other – net (11) 0
Net cash used in investing activities (172) (130)
Cash flows from financing activities:    
Payments of long-term debt 0 (8)
Proceeds from stock options exercised 15 30
Payments for employee taxes withheld from stock awards (19) (28)
Purchases of treasury stock (199) (283)
Cash dividends paid (183) (176)
Other – net (2) 2
Net cash used in financing activities (388) (463)
Exchange rate effect on cash and cash equivalents (12) (8)
Net change in cash and cash equivalents 21 (38)
Cash and cash equivalents at beginning of year 241 585
Cash and cash equivalents at end of period $ 262 $ 547