v3.26.1
STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows - operating activities    
Net income (loss) $ 4,276 $ 3,993
Net (income) loss from discontinued operations activities 65 (31)
Adjustments to reconcile net income (loss) to cash from (used for) operating activities:    
Depreciation and amortization of property, plant and equipment (Note 6) 452 428
Amortization of intangible assets (Note 7) 173 182
(Gains) losses on equity securities (Note 18) 173 (109)
Principal pension plans (benefit) cost (Note 13) (293) (324)
Principal pension plans employer contributions (97) (95)
Other postretirement benefit plans (net) (136) (133)
Provision (benefit) for income taxes 658 671
Cash recovered (paid) during the year for income taxes (141) (253)
Changes in operating working capital:    
Decrease (increase) in current receivables (694) (1,157)
Decrease (increase) in inventories, including deferred inventory costs (643) (1,394)
Decrease (increase) in current contract assets 32 (65)
Increase (decrease) in contract liabilities and current deferred income (135) 384
Increase (decrease) in progress collections 281 269
Increase (decrease) in accounts payable 856 1,495
Increase (decrease) in sales discounts and allowances (Note 14) 956 447
All other operating activities (658) (417)
Cash from (used for) operating activities – continuing operations 5,126 3,891
Cash from (used for) operating activities – discontinued operations (108) (136)
Cash from (used for) operating activities 5,018 3,755
Cash flows - investing activities    
Additions to property, plant and equipment and internal-use software (666) (535)
Dispositions of property, plant and equipment 58 25
Net cash from (payments for) principal businesses purchased (1) (354)
Net (purchases) dispositions of insurance investment securities (7) 361
All other investing activities (1,247) (430)
Cash from (used for) investing activities – continuing operations (1,863) (934)
Cash from (used for) investing activities – discontinued operations (110) 82
Cash from (used for) investing activities (1,973) (852)
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) (20) 25
Repayments and other debt reductions (maturities longer than 90 days) (1,026) (1,253)
Dividends paid to shareholders (873) (688)
Purchases of common stock for treasury (4,527) (3,710)
All other financing activities 54 136
Cash from (used for) financing activities – continuing operations (6,392) (5,490)
Cash from (used for) financing activities – discontinued operations 0 0
Cash from (used for) financing activities (6,392) (5,490)
Effect of currency exchange rate changes on cash, cash equivalents and restricted cash (68) 188
Increase (decrease) in cash, cash equivalents and restricted cash (3,415) (2,398)
Cash, cash equivalents and restricted cash at beginning of year 14,782 15,880
Cash, cash equivalents and restricted cash at June 30 11,367 13,482
Less cash, cash equivalents and restricted cash of discontinued operations at June 30 (854) (1,429)
Cash, cash equivalents and restricted cash of continuing operations at June 30 $ 10,513 $ 12,052