v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows – operating activities:    
Net (loss)/earnings $ (435) $ (643)
Non-cash items –     
Share-based plans expense 264 254
Treasury shares issued for 401(k) contributions 855 793
Depreciation and amortization 1,169 926
Investment/asset impairment charges, net 18 30
Gain on dispositions, net (79) (64)
Other charges and credits, net 149 162
Changes in assets and liabilities –     
Accounts receivable (553) (683)
Unbilled receivables (504) (908)
Advances and progress billings 4,660 (616)
Inventories (3,859) (374)
Other current assets (642) 265
Accounts payable 1,381 (46)
Accrued liabilities (1,070) (248)
Income taxes receivable, payable and deferred (20) (3)
Other long-term liabilities (92) (212)
Pension and other postretirement plans (55) (292)
Financing receivables and operating lease equipment, net (137) 185
Other 135 85
Net cash provided/(used) by operating activities 1,185 (1,389)
Cash flows – investing activities:    
Payments to acquire property, plant and equipment (2,008) (1,101)
Proceeds from disposals of property, plant and equipment 3 4
Proceeds from dispositions 35
Contributions to investments (19,444) (21,581)
Proceeds from investments 25,090 18,847
Supplier notes receivable (11) (150)
Other (1)
Net cash provided/(used) by investing activities 3,629 (3,946)
Cash flows – financing activities:    
New borrowings 35 98
Debt repayments (8,376) (677)
Employee taxes on certain share-based payment arrangements (32) (18)
Dividends paid on mandatory convertible preferred stock (172) (158)
Other 32 30
Net cash used by financing activities (8,513) (725)
Effect of exchange rate changes on cash and cash equivalents 2 34
Net decrease in cash & cash equivalents, including restricted (3,697) (6,026)
Cash & cash equivalents, including restricted, at beginning of year 11,663 13,822
Cash & cash equivalents, including restricted, at end of period 7,966 7,796
Less restricted cash & cash equivalents, included in Investments 727 709
Cash and cash equivalents at end of period $ 7,239 $ 7,087