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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net earnings $ 158 $ 156
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation and amortization 163 168
Changes in assets and liabilities:    
Accounts receivable 14 (107)
Inventories (415) (398)
Accounts payable (159) (228)
Accrued advertising and promotions (228) (200)
Accrued expenses and current liabilities 6 (30)
Taxes deferred and payable, net (38) (21)
Accrued pension and postretirement benefits (18) (19)
Employee compensation 65 13
Other 17 5
Cash used in operating activities (435) (661)
Investing activities    
Capital expenditures (88) (85)
Proceeds from sale of assets and business 3 4
Change in restricted cash 23 3
Other (1) (15)
Cash used in investing activities (63) (93)
Financing activities    
Repayments of long-term debt (255) (5)
Net proceeds from short-term borrowings 800 966
Dividends paid (73) (69)
Repurchase of common stock (150) (225)
Common stock issued 23 3
Other (6) 0
Cash provided by financing activities 339 670
Effect of exchange rate changes on cash and cash equivalents 25 11
Decrease in cash and cash equivalents (134) (73)
Cash and cash equivalents at beginning of period 1,085 772
Cash and cash equivalents at end of period $ 951 $ 699