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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net earnings (loss) $ 554 $ 407
Depreciation and amortization 539 485
Deferred income tax provision (benefit), net (427) (13)
Restructuring and other charges, net 3 0
Net (gains) losses on sales and impairments of equity method investments 0 76
Equity method dividends received 0 13
Equity (earnings) losses, net of taxes 3 (88)
Pension Expense (Reversal of Expense), Noncash (1) 47
Other, net 77 34
Changes in current assets and liabilities    
Accounts and notes receivable (161) 160
Contract assets (3) (9)
Inventories 112 87
Accounts payable and accrued liabilities 90 (280)
Interest payable 4 (23)
Other (30) (23)
Cash Provided By (Used For) Operations 760 873
Investment Activities    
Invested in capital projects (449) (608)
Proceeds from sale of fixed assets 4 3
Other (1) 2
Cash Provided By (Used For) Investment Activities (446) (603)
Financing Activities    
Repurchases of common stock and payments of restricted stock tax withholding (22) (218)
Issuance of debt 0 772
Reduction of debt (8) (536)
Change in book overdrafts (14) (33)
Dividends paid (321) (322)
Proceeds from (Payments for) Other Financing Activities 0 (1)
Cash Provided By (Used For) Financing Activities (365) (338)
Effect of Exchange Rate Changes on Cash and Temporary Investments (13) 10
Change in Cash and Temporary Investments (64) (58)
Cash and Temporary Investments    
Beginning of period 1,113 804
End of period $ 1,049 $ 746