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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net earnings $ 1,020 $ 169
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation and amortization 259 268
(Gain) loss on sale and disposal of businesses (120) 0
Accounts receivable (100) 56
Inventories (527) 226
Accounts payable 260 (982)
Accrued advertising and promotions (100) (414)
Accrued expenses and current liabilities 142 (135)
Taxes deferred and payable, net 83 33
Accrued pension and postretirement benefits (61) (27)
Employee compensation (119) (70)
Other (91) 131
Cash provided by (used in) operating activities 646 (745)
Investing activities    
Capital expenditures (184) (155)
Proceeds from sale of assets and businesses 298 27
Cash held by divested businesses (393) 0
Cash provided by (used in) investing activities (279) (128)
Financing activities    
Net proceeds from borrowings of long-term debt 300 1,029
Net proceeds (repayments) of long-term debt (300) (568)
Net proceeds (repayments) from short-term borrowings (2) 1,417
Dividends paid (167) (155)
Repurchase of common stock (200) (121)
Common stock issued 75 3
Other (38) 0
Cash provided by (used in) financing activities (332) 1,605
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1) (138)
Increase (decrease) in cash, cash equivalents and restricted cash 34 594
Cash, cash equivalents and restricted cash at beginning of year 2,934 1,952
Cash, cash equivalents and restricted cash at end of period $ 2,968 $ 2,546