v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net earnings $ 745 $ 654
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 120 105
Amortization of intangible assets 180 167
Asset impairments 0 35
Share-based compensation 87 84
Sale of inventory stepped-up to fair value at acquisition 0 34
Deferred income tax (benefit) expense (33) 14
Changes in operating assets and liabilities:    
Accounts receivable 444 144
Inventories (127) (93)
Accounts payable (198) (309)
Accrued expenses and other liabilities (654) (504)
Income taxes 42 49
Other, net (25) (130)
Net cash provided by operating activities 581 250
Investing activities    
Acquisitions, net of cash acquired (22) (4,749)
Purchases of marketable securities (5) (11)
Proceeds/(Purchases) of short-term investments 0 750
Proceeds from sales of marketable securities 7 17
Purchases of property, plant and equipment (166) (123)
Other investing, net 1 (20)
Net cash used in investing activities (185) (4,136)
Financing activities    
Proceeds from issuance of long-term debt 0 2,979
Payments on long-term debt (1,000) 0
Payments of dividends (337) (320)
Cash paid for taxes from withheld shares (139) (101)
Other financing, net (34) (24)
Net cash provided by (used in) financing activities (1,510) 2,534
Effect of exchange rate changes on cash and cash equivalents (19) 20
Change in cash and cash equivalents (1,133) (1,332)
Cash and cash equivalents at beginning of period 4,011 3,652
Cash and cash equivalents at end of period $ 2,878 $ 2,320