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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows – operating activities:    
Net (loss)/earnings $ (574) $ (1,082)
Non-cash items –     
Share-based plans expense 381 352
Treasury shares issued for 401(k) contribution 862 612
Depreciation and amortization 913 984
Investment/asset impairment charges, net 12 72
Customer financing valuation adjustments (3) 42
Gain on dispositions, net (1) (2)
Other charges and credits, net 33 260
Changes in assets and liabilities –     
Accounts receivable (433) (350)
Unbilled receivables (721) (758)
Advances and progress billings 2,228 (907)
Inventories (241) (1,260)
Other current assets 313 144
Accounts payable 852 395
Accrued liabilities (399) (835)
Income taxes receivable, payable and deferred (424) (238)
Other long-term liabilities (180) (64)
Pension and other postretirement plans (520) (695)
Customer financing, net 419 50
Other 40 145
Net cash provided/(used) by operating activities 2,557 (3,135)
Cash flows – investing activities:    
Payments to acquire property, plant and equipment (764) (612)
Proceeds from disposals of property, plant and equipment 13 16
Contributions to investments (9,496) (2,471)
Proceeds from investments 5,567 9,296
Other (158) 2
Net cash (used)/provided by investing activities (4,838) 6,231
Cash flows – financing activities:    
New borrowings 38 15
Debt repayments (5,123) (1,013)
Stock options exercised 44 34
Employee taxes on certain share-based payment arrangements (48) (34)
Other (4)
Net cash used by financing activities (5,093) (998)
Effect of exchange rate changes on cash and cash equivalents 2 (71)
Net (decrease)/increase in cash & cash equivalents, including restricted (7,372) 2,027
Cash & cash equivalents, including restricted, at beginning of year 14,647 8,104
Cash & cash equivalents, including restricted, at end of period 7,275 10,131
Less restricted cash & cash equivalents, included in Investments 21 41
Cash and cash equivalents at end of period $ 7,254 $ 10,090