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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES      
Net earnings $ 2,726 $ 4,314 $ 3,569
Adjustments to reconcile net earnings to operating cash flows:      
Depreciation and amortization 1,107 1,113 1,116
Stock-based compensation expense 120 121 126
Deferred income tax provision/(benefit) (42) 205 (70)
Asset impairments and accelerated depreciation 233 128 136
Loss on early extinguishment of debt 38 110 185
Net gain on acquisition and divestitures 0 (8) 0
Loss/(gain) on equity method investment transactions 22 (742) (989)
Equity method investment net earnings (385) (393) (421)
Distributions from equity method investments 184 172 246
Mark-to-market and other non-cash items, net 426 (230) 243
Change in assets and liabilities, net of acquisitions and divestitures:      
Receivables, net (719) (197) 59
Inventories, net (635) (170) (24)
Accounts payable 715 702 436
Other current assets (286) (169) (207)
Other current liabilities 630 (502) (208)
Change in pension and postretirement assets and liabilities, net (226) (313) (233)
Net cash provided by operating activities 3,908 4,141 3,964
CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES      
Capital expenditures (906) (965) (863)
Acquisitions, net of cash received (5,286) (833) (1,136)
Proceeds from divestitures including equity method investments 601 1,539 2,489
Proceeds from derivative settlements and other 703 233 10
Net cash (used in)/provided by investing activities (4,888) (26) 500
CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES      
Issuances of commercial paper, maturities greater than 90 days 0 0 677
Repayments of commercial paper, maturities greater than 90 days 0 0 (1,174)
Net issuances/(repayments) of short-term borrowings 1,914 194 (2,116)
Long-term debt proceeds 4,490 5,921 7,213
Long-term debt repayments (3,032) (6,247) (3,878)
Repurchases of Common Stock (2,017) (2,110) (1,390)
Dividends paid (1,985) (1,826) (1,678)
Other 174 (1) 131
Net cash used in financing activities (456) (4,069) (2,215)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (169) (143) 73
Cash, cash equivalents and restricted cash:      
(Decrease)/increase (1,605) (97) 2,322
Balance at beginning of period 3,553 3,650 1,328
Balance at end of period 1,948 3,553 3,650
Cash paid:      
Interest 551 426 413
Income taxes $ 1,103 $ 1,556 $ 1,264