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Consolidated Cash Flow Statement - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income $ 575 $ 535
Depreciation and amortization 188 188
Asset impairments 11 0
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain 0 (85)
Stock-based compensation 24 16
Deferred income taxes (50) (52)
Net (gains) losses on asset dispositions 2 6
Equity companies' earnings (in excess of) less than dividends paid (43) (23)
Operating working capital (85) (369)
Postretirement benefits (6) (14)
Other (3) 2
Cash Provided by Operations 613 204
Investing Activities    
Capital spending (201) (253)
Payments to Acquire Businesses, Net of Cash Acquired 0 34
Investments in time deposits (177) (83)
Maturities of time deposits 259 255
Other 4 (1)
Cash Used for Investing (115) (116)
Financing Activities    
Cash dividends paid (391) (384)
Change in short-term debt (308) 834
Debt proceeds 348 0
Debt repayments 0 (300)
Proceeds from exercise of stock options 11 23
Acquisitions of common stock for the treasury (30) (25)
Payments of Ordinary Dividends, Noncontrolling Interest (16) 0
Other (11) (15)
Cash Used for Financing (397) 133
Effect of Exchange Rate Changes on Cash and Cash Equivalents (4) 2
Change in Cash and Cash Equivalents 97 223
Cash and Cash Equivalents - Beginning of Period 427 270
Cash and Cash Equivalents - End of Period $ 524 $ 493