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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net earnings $ 396 $ 406
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 253 260
Benefit from deferred income taxes (37) (93)
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures:    
(Increase) decrease in trade receivables (138) 33
(Increase) decrease in inventories (238) (73)
Increase (decrease) in trade payables 89 (290)
Pension and other postretirement contributions (in excess of) less than expenses (29) (29)
Variable compensation payments (in excess of) less than expenses (20) 49
Other items, net 75 145
Net cash provided by operating activities 351 408 Close
Investing activities    
Additions to properties and equipment (300) (413)
Proceeds from sale of businesses 0 16
Acquisition, net of cash acquired 0 (76)
Additions to capitalized software (3) (4)
Other items, net 3 (21)
Net cash used in investing activities (300) (498) Close
Financing activities    
Net increase in commercial paper and other borrowings 0 277
Proceeds from borrowings 742 796
Repayment of borrowings (541) (808)
Dividends paid to stockholders (190) (188)
Treasury stock purchases (100) (50)
Other items, net 10 (23)
Net cash (used in) provided by financing activities (79) 4 Close
Effect of exchange rate changes on cash and cash equivalents (6) 3 Close
Net change in cash and cash equivalents (34) (83) Close
Cash and cash equivalents at beginning of period 548 493
Cash and cash equivalents at end of period $ 514 $ 410