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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 314 $ 534
Provision for credit losses 14 6
Deferred income taxes and tax uncertainties 0 12
Depreciation and amortization 95 113
Net losses (gains) from sales of assets and business divestitures 110 (5)
Impairment of goodwill, intangibles and long-lived assets 177 0
Stock-based compensation 26 23
Subtotal 422 149
Change in operating assets and liabilities:    
Accounts receivable (113) (118)
Inventories (144) 12
Prepaid expenses and other assets (37) (22)
Trade accounts payable 79 100
Accrued liabilities (32) (187)
Income taxes - net (18) (7)
Other non-current liabilities 5 (11)
Subtotal (260) (233)
Net cash provided by operating activities 476 450
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property, buildings, equipment and intangibles (93) (107)
Proceeds from sales of assets and business divestitures 13 14
Other (2) 2
Net cash used in investing activities (82) (91)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under lines of credit 12 19
Payments against lines of credit (50) (16)
Proceeds from Issuance of Long-term Debt 1,500 0
Payments of long-term debt (347) (34)
Proceeds from stock options exercised 28 16
Payments for employee taxes withheld from stock awards (14) (10)
Purchases of treasury stock (101) (400)
Cash dividends paid (164) (163)
Other - net 0 2
Net cash provided by (used in) financing activities 864 (586)
Exchange rate effect on cash and cash equivalents (15) 4
NET CHANGE IN CASH AND CASH EQUIVALENTS 1,243 (223)
Cash and cash equivalents at beginning of year 360 538
Cash and cash equivalents at end of period $ 1,603 $ 315