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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows – operating activities:      
Net loss $ (2,242) $ (5,053) $ (4,290)
Non-cash items –      
Share-based plans expense 690 725 833
Treasury shares issued for 401(k) contribution 1,515 1,215 1,233
Depreciation and amortization 1,861 1,979 2,144
Investment/asset impairment charges, net 46 112 98
Gain on dispositions, net (2) (6) (277)
787 reach-forward loss 3,460
Other charges and credits, net 3 401 360
Changes in assets and liabilities –      
Accounts receivable (128) 142 (713)
Unbilled receivables 321 6 (586)
Advances and progress billings 3,365 108 2,505
Inventories (1,681) 420 (1,127)
Other current assets 389 (591) 345
Accounts payable 1,672 838 (3,783)
Accrued liabilities 779 2,956 (3,687)
Income taxes receivable, payable and deferred 44 1,347 733
Other long-term liabilities (313) (158) (206)
Pension and other postretirement plans (1,049) (1,378) (972)
Financing receivables and operating lease equipment, net 571 142 210
Other 119 307 304
Net cash provided/(used) by operating activities 5,960 3,512 (3,416)
Cash flows – investing activities:      
Payments to acquire property, plant and equipment (1,527) (1,222) (980)
Proceeds from disposals of property, plant and equipment 27 35 529
Acquisitions, net of cash acquired (70) (6)
Contributions to investments (16,448) (5,051) (35,713)
Proceeds from investments 15,739 10,619 45,489
Other (158) (11) 5
Net cash (used)/provided by investing activities (2,437) 4,370 9,324
Cash flows – financing activities:      
New borrowings 75 34 9,795
Debt repayments (5,216) (1,310) (15,371)
Stock options exercised 45 50 42
Employee taxes on certain share-based payment arrangements (408) (40) (66)
Other 17
Net cash used by financing activities (5,487) (1,266) (5,600)
Effect of exchange rate changes on cash and cash equivalents 30 (73) (39)
Net (decrease)/increase in cash & cash equivalents, including restricted (1,934) 6,543 269
Cash & cash equivalents, including restricted, at beginning of year 14,647 8,104 7,835
Cash & cash equivalents, including restricted, at end of year 12,713 14,647 8,104
Less restricted cash & cash equivalents, included in Investments 22 33 52
Cash and cash equivalents $ 12,691 $ 14,614 $ 8,052