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Consolidated Cash Flow Statement - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income $ 661 $ 976
Depreciation and amortization 377 380
Asset impairments 676 0
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain 0 (85)
Stock-based compensation 71 68
Deferred income taxes (238) (35)
Net (gains) losses on asset and business dispositions (71) 13
Equity companies' earnings (in excess of) less than dividends paid (60) (21)
Operating working capital (35) (348)
Postretirement benefits 26 (1)
Other (7) (3)
Cash Provided by Operations 1,400 944
Investing Activities    
Capital spending (389) (470)
Payments to Acquire Businesses, Net of Cash Acquired 0 46
Acquisition of business, net of cash acquired 218 1
Investments in time deposits (388) (300)
Maturities of time deposits 470 545
Other 14 (7)
Cash Used for Investing (75) (277)
Financing Activities    
Cash dividends paid (790) (775)
Change in short-term debt (307) 553
Debt proceeds 357 0
Debt repayments (350) (300)
Proceeds from exercise of stock options 96 75
Acquisitions of common stock for the treasury (63) (49)
Payments to Noncontrolling Interests (48) 0
Payments of Ordinary Dividends, Noncontrolling Interest (16) (82)
Other (31) (42)
Cash Used for Financing (1,152) (620)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (20) (6)
Change in Cash and Cash Equivalents 153 41
Cash and Cash Equivalents - Beginning of Period 427 270
Cash and Cash Equivalents - End of Period $ 580 $ 311