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Consolidated Cash Flow Statement - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 658 $ 575
Depreciation and amortization 185 188
Asset impairments 0 11
Stock-based compensation 32 24
Deferred income taxes (11) (50)
Net (gains) losses on asset dispositions 5 2
Equity companies' earnings (in excess of) less than dividends paid (61) (43)
Operating working capital (367) (85)
Postretirement benefits 2 (6)
Other (5) (3)
Cash Provided by Operations 438 613
Investing Activities    
Capital spending (194) (201)
Investments in time deposits (97) (177)
Maturities of time deposits 119 259
Other (9) 4
Cash Used for Investing (181) (115)
Financing Activities    
Cash dividends paid (398) (391)
Change in short-term debt 4 (308)
Debt proceeds 0 348
Proceeds from exercise of stock options 3 11
Acquisitions of common stock for the treasury (54) (30)
Payments of Ordinary Dividends, Noncontrolling Interest (19) (16)
Other (21) (11)
Cash Used for Financing (485) (397)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (12) (4)
Change in Cash and Cash Equivalents (240) 97
Cash and Cash Equivalents - Beginning of Period 1,093 427
Cash and Cash Equivalents - End of Period $ 853 $ 524