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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net earnings $ 859 $ 854 $ 757
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 580 571 450
Mark-to-market loss on pension and other postretirement benefit plans 97 115 304
Asset impairment charges 9 107 52
Early debt extinguishment and other related costs 85 0 0
Gains on sale of assets (17) 0 (5)
Provision for deferred income taxes 177 107 99
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:      
(Increase) decrease in trade receivables (29) 114 19
(Increase) decrease in inventories 54 (26) (61)
Increase (decrease) in trade payables 7 (102) (30)
Pension and other postretirement contributions in excess of expenses (329) (217) (176)
Variable compensation less than expenses 17 71 27
Other items, net (125) 30 (3)
Net cash provided by operating activities 1,385 1,624 1,433
Investing activities      
Additions to properties and equipment (626) (652) (593)
Proceeds from sale of assets 41 4 13
Acquisitions, net of cash acquired (26) (45) (3,509)
Other items, net (44) 0 (2)
Net cash used in investing activities (655) (693) (4,091)
Financing activities      
Net increase (decrease) in commercial paper and other borrowings (150) 195 (190)
Proceeds from borrowings 1,848 250 3,565
Repayment of borrowings (2,126) (950) (125)
Dividends paid to stockholders (272) (238) (210)
Treasury stock purchases (145) (103) (410)
Dividends paid to noncontrolling interests (8) (6) (9)
Proceeds from stock option exercises and other items, net 15 8 18
Net cash (used in) provided by financing activities (838) (844) 2,639
Effect of exchange rate changes on cash and cash equivalents (4) (8) (4)
Net change in cash and cash equivalents (112) 79 (23)
Cash and cash equivalents at beginning of period 293 214 237
Cash and cash equivalents at end of period $ 181 $ 293 $ 214