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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net earnings $ 172 $ 546
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation and amortization 268 302
(Gain) loss on sale and disposal of businesses 0 79
Changes in assets and liabilities:    
Accounts receivable 56 (251)
Inventories 223 (574)
Accounts payable (982) (182)
Accrued advertising and promotions (414) (180)
Accrued expenses and current liabilities (135) (41)
Taxes deferred and payable, net 33 (179)
Accrued pension and postretirement benefits (27) (39)
Employee compensation (70) 7
Other 131 (309)
Cash provided by (used in) operating activities (745) (821)
Investing activities    
Capital expenditures (155) (197)
Proceeds from sale of assets and business 27 5
Other 0 (3)
Cash provided by (used in) investing activities (128) (195)
Financing activities    
Net proceeds from borrowings of long-term debt 1,029 697
Repayments of long-term debt (568) (943)
Net proceeds (repayments) from short-term borrowings 1,417 1,119
Dividends paid (155) (149)
Repurchase of common stock (121) (50)
Common stock issued 3 4
Cash provided by (used in) financing activities 1,605 678
Effect of exchange rate changes on cash, cash equivalents and restricted cash (138) 9
Increase (decrease) in cash, cash equivalents and restricted cash 594 (329)
Cash, cash equivalents and restricted cash at beginning of year 1,952 1,538
Cash, cash equivalents and restricted cash at end of year $ 2,546 $ 1,209