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Condensed Consolidated Statement of Cash Flows Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Cash flows - operation activities:          
Net earnings $ 2,196 $ 1,749 $ 4,673 $ 3,328  
Non-cash items -          
Share-based plans expense     98 98  
Depreciation and amortization     1,008 956  
Asset Impairment Charges     44 46  
Customer financing valuation (benefit)/expense     (2) 5  
Gain/(loss) on dispositions, net 3 (2) 7  
Other charges and credits, net     (112) (135)  
Changes in assets and liabilities -          
Accounts receivable     (62) 163  
Unbilled receivables     1,675 950  
Advances and progress billings     2,931 3,916  
Inventories     (408) 1,036  
Other current assets     (2) 148  
Accounts payable     682 419  
Accrued liabilities     (922) (570)  
Income taxes receivable, payable and deferred     269 774  
Other long-term liabilities     (65) (18)  
Pension and other postretirement plans     (57) 13  
Customer financing, net     97 (342)  
Other     (352) 100  
Net cash provided by operating activities     7,816 7,047  
Cash flows - investing activities:          
Payments to Acquire Property, Plant, and Equipment     770 905  
Property, plant and equipment reductions     41 25  
Contributions to investments     1,537 1,820  
Proceeds from investments     1,028 1,441  
Purchase of distribution rights     (56) (131)  
Other     (1) 7  
Net cash provided/(used) by investing activities     (1,295) (1,383)  
Cash flows - financing activities:          
New borrowings     3,648 874  
Debt repayments     2,708 56  
Contributions from noncontrolling interests     20  
Stock options exercised     61 240  
Employee taxes on certain share-based payment arrangements     236 112  
Common shares repurchased     5,965 5,000  
Dividends paid     1,997 1,720  
Net cash used by financing activities     (7,177) (5,774)  
Effect of exchange rate changes on cash and cash equivalents, including restricted     (36) 52  
Net decrease in cash & cash equivalents, including restricted     (692) (58)  
Cash & cash equivalents, including restricted, at beginning of year     8,887 8,869 $ 8,869
Cash & cash equivalents, including restricted, at end of period 8,195 8,811 8,195 8,811 8,887
Restricted Cash and Cash Equivalents [1] (74) (74) (74) (74) (74)
Cash and cash equivalents at end of period $ 8,121 $ 8,737 $ 8,121 $ 8,737 $ 8,813
[1] Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums.