v3.25.2
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net earnings (loss) $ 153 $ (29)
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation and amortization 163 170
Loss (gain) on sale and disposal of businesses 0 292
Equity method investment (income) loss, net of tax 35 11
Share based compensation and other 86 33
Changes in assets and liabilities:    
Accounts receivable (21) (211)
Inventories (527) (54)
Accounts payable (134) (123)
Accrued advertising and promotions (284) (154)
Accrued expenses and current liabilities (29) (170)
Taxes deferred and payable, net (16) (209)
Accrued pension and postretirement benefits (1) (14)
Employee compensation (31) (55)
Other (96) 28
Cash provided by (used in) operating activities (702) (485)
Investing activities    
Capital expenditures (154) (228)
Proceeds from sale of assets and businesses 0 42
Cash held by divested businesses 0 (245)
Other 0 (1)
Cash provided by (used in) investing activities (154) (432)
Financing activities    
Net proceeds from borrowings of long-term debt 1,200 300
Net repayments of long-term debt (1,550) (801)
Net proceeds (repayments) from short-term borrowings 1,142 780
Dividends paid (194) (191)
Repurchase of common stock 0 (50)
Sale of minority interest in subsidiary 0 462
Other (15) 1
Cash provided by (used in) financing activities 583 501
Effect of exchange rate changes on cash and cash equivalents 67 (72)
Increase (decrease) in cash and cash equivalents (207) (488)
Cash and cash equivalents at beginning of year 1,275 1,667
Cash and cash equivalents at end of period $ 1,068 $ 1,179