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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Provided by (Used in) Operating Activities    
Net earnings $ 1,421 $ 1,550
Adjustments to reconcile net earnings to operating cash flows:    
Depreciation and amortization 63 65
Deferred income tax provision (benefit) 65 26
(Income) losses from equity investments (51) (157)
(Gain) loss on Cronos-related financial instruments (110) 137
Loss on early extinguishment of debt 649 0
Cash effects of changes:    
Receivables (5) 5
Inventories 18 (5)
Accounts payable (98) (45)
Income taxes 396 495
Accrued liabilities and other current assets (307) (421)
Accrued settlement charges 975 1,073
Pension plan contributions (3) (4)
Pension provisions and postretirement, net (32) (20)
Other, net [1] 59 430
Net cash provided by (used in) operating activities 3,040 3,129
Cash Provided by (Used in) Investing Activities    
Capital expenditures (26) (52)
Other, net (3) 0
Net cash provided by (used in) investing activities (29) (52)
Cash Provided by (Used in) Financing Activities    
Proceeds from short-term borrowings 0 3,000
Long-term debt issued 5,472 0
Long-term debt repaid (5,042) (1,000)
Repurchases of common stock (325) 0
Dividends paid on common stock (1,601) (1,563)
Premiums and fees related to early extinguishment of debt (623) 0
Other, net (53) (10)
Net cash provided by (used in) financing activities (2,172) 427
Cash, cash equivalents and restricted cash:    
Increase (decrease) 839 3,504
Balance at beginning of period 5,006 2,160
Balance at end of period 5,845 5,664
Cash, cash equivalents and restricted cash $ 5,845 $ 5,664
[1] 2020 reflects inventory-related amounts associated with the Wine Business Strategic Reset. For further discussion, see Note 8. Segment Reporting.