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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net earnings (loss) $ 85 $ (4)
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation and amortization 249 262
Loss (gain) on sale and disposal of businesses 260 286
Changes in assets and liabilities:    
Accounts receivable (275) (359)
Inventories (18) (282)
Accounts payable (76) (274)
Accrued advertising and promotions (137) (140)
Accrued expenses and current liabilities (22) 50
Taxes deferred and payable, net (237) 161
Accrued pension and postretirement benefits (15) (45)
Employee compensation 22 57
Other (107) (34)
Cash provided by (used in) operating activities (271) (322)
Investing activities    
Capital expenditures (315) (338)
Proceeds from sale of assets and businesses 95 9
Acquisition of businesses, net of cash acquired 0 (14)
Cash held by divested businesses (245) 0
Other (1) 0
Cash provided by (used in) investing activities (466) (343)
Financing activities    
Net proceeds from borrowings of long-term debt 300 304
Net repayments of long-term debt (801) (250)
Net proceeds (repayments) from short-term borrowings 613 30
Dividends paid (287) (290)
Repurchase of common stock (50) 0
Sale of minority interest in subsidiary 462 0
Common stock issued 0 4
Other (15) (1)
Cash provided by (used in) financing activities 222 (203)
Effect of exchange rate changes on cash and cash equivalents (68) 28
Less: change in cash classified as held for sale 0 5
Increase (decrease) in cash and cash equivalents (583) (835)
Cash and cash equivalents at beginning of year [1] 1,667 1,958
Cash and cash equivalents at end of period $ 1,084 $ 1,123
[1] Cash and cash equivalent at the beginning of 2024 include $1,570 million of cash and cash equivalents and cash of $97 million classified as held for sale as of December 31, 2023. For additional information, see Note 14.