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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net earnings $ 406 $ 493
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 260 243
Mark-to-market pension and other postretirement benefit plans (gain), net 0 (3)
Loss on sale of assets 0 15
Gain on divested business 0 (10)
Benefit from deferred income taxes (93) (81)
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:    
(Increase) decrease in trade receivables 33 (163)
(Increase) decrease in inventories (73) (372)
Increase (decrease) in trade payables (290) 179
Pension and other postretirement contributions (in excess of) less than expenses (29) (81)
Variable compensation payments (in excess of) less than expenses 49 (132)
Other items, net 145 174
Net cash provided by operating activities 408 262
Investing activities    
Additions to properties and equipment (413) (247)
Proceeds from sale of businesses 16 998
Acquisition, net of cash acquired (76) (1)
Additions to capitalized software (4) (7)
Other items, net (21) 13
Net cash (used in) provided by investing activities (498) 756
Financing activities    
Net increase (decrease) in commercial paper and other borrowings 277 0
Proceeds from borrowings 796 500
Repayment of borrowings (808) (550)
Dividends paid to stockholders (188) (196)
Payments for Repurchase of Other Equity (50) (752)
Proceeds from stock option exercises and other items, net (23) (12)
Net cash provided by (used in) financing activities 4 (1,010)
Effect of exchange rate changes on cash and cash equivalents 3 (11)
Net change in cash and cash equivalents (83) (3)
Cash and cash equivalents at beginning of period 493 459
Cash and cash equivalents at end of period $ 410 $ 456