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Condensed Consolidated Statement of Cash Flows Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows - operation activities:    
Net earnings $ 2,477 $ 1,579
Non-cash items -    
Share-based plans expense 45 50
Depreciation and amortization 501 468
Asset Impairment Charges 20 23
Customer financing valuation (benefit)/expense (1) 7
Gain on dispositions, net 4 2
Other charges and credits, net (60) (58)
Changes in assets and liabilities -    
Accounts receivable (92) 264
Unbilled receivables 1,628 568
Advances and progress billings 1,917 1,375
Inventories (283) 1,491
Other current assets 103 117
Accounts payable 591 616
Accrued liabilities (1,337) (282)
Income taxes receivable, payable and deferred 348 552
Other long-term liabilities (243) (72)
Pension and other postretirement plans (50) 10
Customer financing, net (44) (231)
Other (124) 75
Net cash provided by operating activities 3,136 2,098
Cash flows - investing activities:    
Payments to Acquire Property, Plant, and Equipment 394 466
Property, plant and equipment reductions 27 9
Contributions to investments 249 605
Proceeds from investments 752 803
Purchase of distribution rights 20  
Other (3) 1
Net cash provided/(used) by investing activities 119 (260)
Cash flows - financing activities:    
New borrowings 2,687 872
Debt repayments 1,371 34
Contributions from noncontrolling interests 20
Stock options exercised 51 174
Employee taxes on certain share-based payment arrangements 226 107
Common shares repurchased 3,000 2,500
Dividends paid 1,006 868
Net cash used by financing activities (2,845) (2,463)
Effect of exchange rate changes on cash and cash equivalents, including restricted 8 20
Net increase/(decrease) in cash & cash equivalents, including restricted 418 (605)
Cash & cash equivalents, including restricted, at beginning of year 8,887 8,869
Cash & cash equivalents, including restricted, at end of period 9,305 8,264
Restricted Cash and Cash Equivalents [1] (70) (74)
Cash and cash equivalents at end of period $ 9,235 $ 8,190
[1] Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums.