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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 from operating activities:      
Net income (loss) $ 1,970 $ (578) $ (330)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:      
Depreciation and amortization 1,087 1,061 1,105
(Gain) loss on business dispositions (40) 451 0
(Gain) loss on equity securities (555) 265 845
Stock-based compensation cost 197 207 205
Property, plant and equipment impairment, net (1) 166 7
(Benefit) provision for deferred income taxes (59) 105 133
Inventory impairment 35 31 0
Changes in operating assets and liabilities:      
Current receivables (986) (625) (126)
Inventories (461) (885) 170
Accounts payable 61 605 246
Progress collections and deferred income 1,639 1,103 (72)
Contract and other deferred assets (211) (76) 262
Other operating items, net 386 58 (71)
Net cash flows from operating activities 3,062 1,888 2,374
Cash flows from investing activities:      
Expenditures for capital assets (1,224) (989) (856)
Proceeds from disposal of assets 208 217 315
Proceeds from sale of equity securities 372 26 147
Proceeds from business dispositions 293 0 70
Net cash paid for acquisitions (301) (767) (87)
Other investing items, net (165) (51) (52)
Net cash flows used in investing activities (817) (1,564) (463)
Cash flows from financing activities:      
Repayment of long-term debt (651) 0 (1,313)
Proceeds from the issuance of long-term debt 0 0 1,250
Repayment of commercial paper 0 0 (832)
Dividends paid (786) (726) (592)
Repurchase of Class A common stock (538) (828) (434)
Distributions to GE 0 (17) (157)
Other financing items, net (53) (21) (65)
Net cash flows used in financing activities (2,028) (1,592) (2,143)
Effect of currency exchange rate changes on cash and cash equivalents (59) (97) (47)
Increase (decrease) in cash and cash equivalents 158 (1,365) (279)
Cash and cash equivalents, beginning of period 2,488 3,853 4,132
Cash and cash equivalents, end of period $ 2,646 $ 2,488 $ 3,853