v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES    
Net earnings $ 5,567 $ 5,985
Adjustments to reconcile net earnings to operating cash flows:    
Depreciation and amortization expense 1,023 970
Impairment of goodwill (Note 5) 0 41
Impairment related to the RBH equity investment (Note 13) 511 0
Deferred income tax (benefit) provision (10) (274)
Restructuring charges, net of cash paid (Note 15) (15) 239
Cash effects of changes, net of the effects from acquired and divested companies:    
Receivables, net (690) (780)
Inventories (80) (419)
Accounts payable (284) (161)
Accrued liabilities and other current assets (1,081) (1,972)
Income taxes (200) (611)
Pension plan contributions (Note 4) (67) (62)
Other 419 106
Net cash provided by (used in) operating activities 5,093 3,062
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES    
Capital expenditures (733) (760)
Proceeds from sale of businesses, net of cash disposed (Note 2) 87 32
Purchases of debt securities (5) (105)
Sales and maturities of debt securities 193 25
Equity investments (45) (35)
Collateral posted/settlements for derivatives, (paid)/returned (Note 6) 543 (1,953)
Other (17) 46
Net cash provided by (used in) investing activities 23 (2,750)
Short-term borrowing activity by original maturity:    
Net issuances (repayments) - maturities of 90 days or less 2,525 2,294
Issuances - maturities longer than 90 days 1,659 170
Repayments - maturities longer than 90 days (994) (70)
Long-term debt proceeds 1,478 3,596
Long-term debt repaid (4,021) (1,566)
Dividends paid (4,604) (4,222)
Collateral received/settlements for derivatives, received/(returned) 404 (824)
Noncontrolling interests activity and Other (326) (268)
Net cash provided by (used in) financing activities (3,879) (890)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (105) 500
Cash, cash equivalents and restricted cash:    
Increase (Decrease) [1] 1,132 (78)
Balance at beginning of period [1] 4,892 4,254
Balance at end of period [1] $ 6,024 $ 4,176
[1] The amounts for cash, cash equivalents and restricted cash shown above include restricted cash of $25 million and $38 million as of June 30, 2026 and 2025, respectively, and $20 million and $38 million as of December 31, 2025 and 2024, respectively, which were included in other current assets in the condensed consolidated balance sheets.