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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net earnings $ 7,209 $ 6,433 $ 3,646
Less: earnings from discontinued operations, net of income taxes 0 (86) 0
Net earnings from continuing operations 7,209 6,347 3,646
Noncash items:      
Depreciation 738 718 637
Amortization of intangible assets 1,484 1,450 1,138
Amortization of acquisition-related inventory fair value step-up 0 59 457
Stock-based compensation expense 336 218 187
Contract settlement expense 0 542 0
Pretax loss on early extinguishment of borrowings 0 96 26
Pretax gain on sale of product lines and investment (gains) losses 271 (414) (455)
Change in deferred income taxes (559) (229) 518
Change in trade accounts receivable, net (477) (611) (264)
Change in inventories (486) (502) (123)
Change in trade accounts payable 5 549 227
Change in prepaid expenses and other assets (78) (4) 102
Change in accrued expenses and other liabilities 76 139 119
Total operating cash provided by continuing operations 8,519 8,358 6,215
Total operating cash used in discontinued operations 0 0 (7)
Net cash provided by operating activities 8,519 8,358 6,208
Cash flows from investing activities:      
Cash paid for acquisitions (637) (10,961) (20,971)
Payments for additions to property, plant and equipment (1,152) (1,294) (791)
Proceeds from sales of property, plant and equipment 9 13 2
Payments for purchases of investments (523) (934) (342)
Proceeds from sales of investments 18 126 13
Proceeds from sale of product lines 0 26 826
All other investing activities 51 37 24
Net cash used in investing activities for continuing operations (2,234) (12,987) (21,239)
Cash flows from financing activities:      
Proceeds from the issuance of common stock in connection with stock-based compensation 31 86 153
Proceeds from the public offering of common stock, net of issuance costs 0 0 1,729
Proceeds from the public offering of preferred stock, net of issuance costs 0 0 1,668
Payment of dividends (818) (742) (615)
Net (repayments of) proceeds from borrowings (maturities of 90 days or less) (723) 2,265 (4,637)
Proceeds from borrowings (maturities longer than 90 days) 0 984 8,670
Repayments of borrowings (maturities longer than 90 days) (965) (1,186) (5,933)
Make-whole premiums to redeem borrowings prior to maturity 0 (96) (26)
All other financing activities (95) (16) (3)
Net cash (used in) provided by financing activities for continuing operations (2,570) 1,295 1,006
Effect of exchange rate changes on cash and equivalents (306) (115) 148
Net change in cash and equivalents 3,409 (3,449) (13,877)
Beginning balance of cash and equivalents 2,586 6,035 19,912
Ending balance of cash and equivalents $ 5,995 $ 2,586 $ 6,035