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Consolidated Statement of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Operating Activities:      
Net income (loss) from continuing operations $ 5,327 $ 4,145 $ (2,928)
Adjustments to reconcile net income (loss) from continuing operations to net cash flows provided by operating activities:      
Depreciation and amortization 4,108 4,557 4,156
Deferred income tax benefit (1,663) (88) (99)
Stock compensation cost 420 442 330
Net periodic pension and other postretirement income (1,413) (1,414) (413)
Debt extinguishment costs 0 649 0
Goodwill impairment charge 0 0 3,183
Change in:      
Accounts receivables 437 (570) 1,318
Contract assets (234) (1,594) 63
Inventory (1,575) 163 412
Other current assets (1,027) (566) (445)
Accounts payable and accrued liabilities 2,075 917 (1,666)
Contract liabilities 846 1,372 1,129
Global pension contributions (94) (59) (1,025)
Other operating activities, net (39) (812) 319
Net cash flows provided by operating activities from continuing operations 7,168 7,142 4,334
Investing Activities:      
Capital expenditures (2,288) (2,134) (1,795)
Payments on customer financing assets (150) (231) (280)
Receipts from customer financing assets 179 389 368
Investments in businesses (Note 2) (66) (1,088) (419)
Cash acquired in Raytheon merger 0 0 3,208
Dispositions of businesses, net of cash transferred (Note 2) 94 1,879 2,556
Increase in other intangible assets (487) (308) (312)
Payments from settlements of derivative contracts, net (205) (16) (32)
Other investing activities, net 94 145 49
Net cash flows (used in) provided by investing activities from continuing operations (2,829) (1,364) 3,343
Financing Activities:      
Issuance of long-term debt 1 4,062 2,004
Distribution from discontinued operations 0 0 17,207
Repayment of long-term debt (3) (4,254) (16,082)
Debt extinguishment costs 0 (649) 0
Change in commercial paper, net (Note 10) 518 (160) 160
Change in other short-term borrowings, net (29) 47 (2,201)
Dividends paid on Common Stock (3,128) (2,957) (2,732)
Repurchase of Common Stock (2,803) (2,327) (47)
Net transfers to discontinued operations 0 (71) (2,033)
Other financing activities, net (415) (447) (136)
Net cash flows used in financing activities from continuing operations (5,859) (6,756) (3,860)
Discontinued Operations:      
Net cash used in operating activities 0 (71) (728)
Net cash used in investing activities 0 0 (241)
Net cash provided by (used in) financing activities 0 71 (1,414)
Net cash used in discontinued operations 0 0 (2,383)
Effect of foreign exchange rate changes on cash and cash equivalents from continuing operations (42) (1) 54
Effect of foreign exchange rate changes on cash and cash equivalents from discontinued operations 0 0 (76)
Net (decrease) increase in cash, cash equivalents and restricted cash (1,562) (979) 1,412
Cash, cash equivalents and restricted cash, beginning of year 7,853 8,832 4,961
Cash, cash equivalents and restricted cash within assets related to discontinued operations, beginning of year 0 0 2,459
Cash, cash equivalents and restricted cash, end of year 6,291 7,853 8,832
Less: Restricted cash, included in Other assets 71 21 30
Cash and cash equivalents, end of year 6,220 7,832 8,802
Supplemental Disclosure of Cash Flow Information:      
Interest paid, net of amounts capitalized 1,263 [1] 1,339 [1] 1,628 [1]
Income taxes paid, net of refunds $ 2,400 [1] $ 1,124 [1] $ 1,716 [1]
[1] (1)    Amounts are inclusive of continuing operations and discontinued operations payments.