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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Consolidated net income $ 2,233 $ 1,539
Adjustments to reconcile consolidated net income to net cash provided by operating activities    
Depreciation and amortization 760 544
Deferred income taxes (238) (194)
Equity in income of investees, net of dividends (100) (30)
Pension and OPEB expense (Note 3) 4 23
Pension contributions and OPEB payments (Note 3) (115) (71)
Russian suspension costs, net of recoveries (Note 14) 0 112
Changes in current assets and liabilities, net of acquisitions    
Accounts and notes receivable (447) (333)
Inventories (318) (597)
Other current assets (191) (18)
Accounts payable 43 353
Accrued expenses 543 (124)
Other, net 333 (59)
Net cash provided by operating activities 2,507 1,145 Close
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (694) (453)
Acquisitions of businesses, net of cash acquired (Note 16) (127) (3,008)
Investments in marketable securities—acquisitions (976) (738)
Investments in marketable securities—liquidations (Note 6) 1,002 819
Other, net (65) (116)
Net cash used in investing activities (860) (3,496) Close
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings 779 2,076
Net (payments) borrowings of commercial paper (566) 2,080
Payments on borrowings and finance lease obligations (391) (1,070)
Dividend payments on common stock (683) (633)
Repurchases of common stock 0 (370)
Payments for purchase of redeemable noncontrolling interests (Note 16) (175) 0
Other, net (33) 28
Net cash (used in) provided by financing activities (1,069) 2,111 Close
Effect of exchange rate changes on cash, cash equivalents and restricted cash (67) 147 Close
Net increase (decrease) in cash, cash equivalents and restricted cash 511 (93) Close
Cash, cash equivalents and restricted cash at beginning of year 2,101 2,592
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 2,612 $ 2,499