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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net earnings $ 794 $ 487
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 360 416
Mark-to-market pension and other postretirement benefit plans (gain) loss, net (3) 0
Asset impairment charges 0 5
Loss on sale of assets 15 0
Net (gain) loss on divested businesses (7) 555
Benefit from deferred income taxes (54) (66)
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:    
(Increase) decrease in trade receivables (111) (439)
(Increase) decrease in inventories (549) (369)
Increase (decrease) in trade payables 187 377
Pension and other postretirement contributions (in excess of) less than expenses (115) (142)
Variable compensation (in excess of) less than expenses (117) 90
Other items, net 118 275
Net cash provided by operating activities 518 1,189
Investing activities    
Additions to properties and equipment (408) (315)
Proceeds from sale of businesses 998 0
Acquisitions, net of cash acquired (1) (111)
Additions to capitalized software (10) (18)
Other items, net 19 (3)
Net cash provided by (used in) investing activities 598 (447)
Financing activities    
Net increase (decrease) in commercial paper and other borrowings 355 (50)
Proceeds from borrowings 500 0
Repayment of borrowings (750) 0
Dividends paid to stockholders (290) (282)
Treasury stock purchases (902) (290)
Proceeds from stock option exercises and other items, net (11) 38
Net cash used in financing activities (1,098) (584)
Effect of exchange rate changes on cash and cash equivalents (16) (5)
Net change in cash and cash equivalents 2 153
Cash and cash equivalents at beginning of period 459 564
Cash and cash equivalents at end of period $ 461 $ 717