XML 25 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
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 earnings $ 1,903 $ 1,613 $ 1,114
Provision for credit losses 23 19 18
Deferred income taxes and tax uncertainties (9) 8 27
Depreciation and amortization 214 205 187
Non-cash lease expense 76 70 50
Net losses (gains) from sales of assets and business divestitures 17 (14) (6)
Stock-based compensation 62 48 42
Change in operating assets and liabilities:      
Accounts receivable (98) (436) (324)
Inventories (16) (412) (152)
Prepaid expenses and other assets 101 (158) (15)
Trade accounts payable (65) 225 54
Operating lease liabilities (88) (76) (68)
Accrued liabilities (91) 218 59
Income taxes – net (4) 42 (26)
Other non-current liabilities 6 (19) (23)
Net cash provided by operating activities 2,031 1,333 937
Cash flows from investing activities:      
Capital expenditures (445) (256) (255)
Proceeds from sales of assets and business divestitures 21 28 29
Other – net 2 (35) 0
Net cash used in investing activities (422) (263) (226)
Cash flows from financing activities:      
Proceeds from debt 7 16 0
Payments of debt (37) (15) (8)
Proceeds from stock options exercised 34 26 48
Payments for employee taxes withheld from stock awards (37) (23) (30)
Purchases of treasury stock (850) (603) (695)
Cash dividends paid (392) (370) (357)
Other – net (3) (3) 3
Net cash used in financing activities (1,278) (972) (1,039)
Exchange rate effect on cash and cash equivalents 4 (14) (16)
Net change in cash and cash equivalents 335 84 (344)
Cash and cash equivalents at beginning of year 325 241 585
Cash and cash equivalents at end of period 660 325 241
Supplemental cash flow information:      
Cash payments for interest (net of amounts capitalized) 109 91 87
Cash payments for income taxes $ 615 $ 479 $ 377