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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net earnings $ 493 $ 133
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 243 289
Mark-to-market pension and other postretirement benefit plans (gain), net (3) 0
Asset impairment charges 0 5
Loss on sale of assets 15 0
Net (gain) loss on divested businesses (10) 495
Benefit from deferred income taxes (81) (28)
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:    
(Increase) decrease in trade receivables (163) (361)
(Increase) decrease in inventories (372) (214)
Increase (decrease) in trade payables 179 306
Pension and other postretirement contributions (in excess of) less than expenses (81) (97)
Variable compensation (in excess of) less than expenses (132) 8
Other items, net 174 106
Net cash provided by operating activities 262 642
Investing activities    
Additions to properties and equipment (247) (198)
Proceeds from Divestiture of Businesses 998 0
Acquisitions, net of cash acquired (1) (63)
Additions to capitalized software (7) (12)
Other items, net 13 (4)
Net cash provided by (used in) investing activities 756 (277)
Financing activities    
Net decrease in commercial paper and other borrowings 0 (25)
Proceeds from borrowings 500 0
Repayment of borrowings (550) 0
Dividends paid to stockholders (196) (188)
Treasury stock purchases (752) (140)
Proceeds from stock option exercises and other items, net (12) 38
Net cash used in financing activities (1,010) (315)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations (11) (5)
Net change in cash and cash equivalents (3) 45
Cash and cash equivalents at beginning of period 459 564
Cash and cash equivalents at end of period $ 456 $ 609