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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net earnings $ 290 $ 468
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 280 311
Asset impairment charges 145 0
Provision for deferred income taxes 11 11
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:    
(Increase) decrease in trade receivables 73 (80)
(Increase) decrease in inventories 221 (148)
Increase (decrease) in trade payables (343) (88)
Pension and other postretirement contributions (in excess of) less than expenses (83) (65)
Variable compensation (in excess of) less than expenses (30) (45)
Other items, net 43 53
Net cash provided by operating activities 607 417
Investing activities    
Additions to properties and equipment (196) (198)
Acquisitions, net of cash acquired 0 (19)
Other items, net (5) (2)
Net cash used in investing activities (201) (219)
Financing activities    
Net increase (decrease) in commercial paper and other borrowings 97 239
Proceeds from borrowings 249 225
Repayment of borrowings 0 (275)
Dividends paid to stockholders (179) (173)
Treasury stock purchases (60) (250)
Other items, net (13) (3)
Net cash provided by (used in) financing activities 94 (237)
Effect of exchange rate changes on cash and cash equivalents 0 (1)
Net change in cash and cash equivalents 500 (40)
Cash and cash equivalents at beginning of period 204 226
Cash and cash equivalents at end of period $ 704 $ 186