XML 56 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net earnings (loss) $ (305) $ 488 $ (1,511)
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:      
Depreciation and amortization 333 361 475
Impairment of goodwill and other intangibles 381 0 384
Loss (gain) on sale and disposal of businesses 264 106 1,869
Equity method investment (income) loss, net of tax 107 28 19
Changes in assets and liabilities:      
Accounts receivable (14) 159 854
Inventories 172 (123) (49)
Accounts payable 125 1 (612)
Accrued advertising and promotions 63 (37) (51)
Accrued expenses and current liabilities 7 122 113
Taxes deferred and payable, net (183) (97) 18
Accrued pension and postretirement benefits (24) (59) (105)
Employee compensation 97 103 (288)
Other (188) (137) 274
Cash provided by (used in) operating activities 835 915 1,390
Investing activities      
Capital expenditures (451) (549) (570)
Proceeds from sale of assets and businesses 95 10 77
Acquisition of businesses, net of cash acquired 0 (14) (3,000)
Cash held by divested businesses (245) 0 (75)
Other (1) 0 0
Cash provided by (used in) investing activities (602) (553) (3,568)
Financing activities      
Net proceeds from borrowings of long-term debt 300 304 2,800
Net repayments of long-term debt (801) (750) (300)
Net proceeds (repayments) from short-term borrowings 11 34 (4)
Dividends paid (384) (384) (390)
Repurchase of common stock (50) 0 (903)
Sale of minority interest in subsidiary 462 0 0
Common stock issued 0 4 3
Other (14) 0 0
Cash provided by (used in) financing activities (476) (792) 1,206
Effect of exchange rate changes on cash and cash equivalents (149) 45 (20)
Less: change in cash classified as held for sale 0 (3) (94)
Increase (decrease) in cash and cash equivalents (391) (388) (1,086)
Cash and cash equivalents at beginning of year [1] 1,667    
Cash and cash equivalents at end of period 1,275 1,667 [1]  
Cash and cash equivalents at beginning of year 1,570 1,958 [1] 3,044 [1]
Cash and cash equivalents at end of period   1,570 1,958 [1]
Supplemental disclosure of cash flow information      
Cash paid for interest 352 370 161
Cash paid for income taxes $ 181 $ 175 $ 247
[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 16.