v3.26.1
Consolidated Statement of Cash Flow - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flow from operating activities:    
Profit (loss) of consolidated and affiliated companies $ 6,141 $ 4,182
Adjustments to reconcile profit to net cash provided by operating activities:    
Depreciation and amortization 1,211 1,094
Provision (benefit) for deferred income taxes 644 (110)
(Gain) loss on divestiture 139 0
Other (22) 398
Changes in assets and liabilities, net of acquisitions and divestitures:    
Receivables – trade and other (3,182) (319)
Inventories (2,553) (1,639)
Accounts payable 1,528 973
Accrued expenses 189 (12)
Accrued wages, salaries and employee benefits (408) (805)
Customer advances 2,576 1,276
Other assets – net (93) (90)
Other liabilities – net 71 (537)
Net cash provided by (used for) operating activities 6,241 4,411
Cash flow from investing activities:    
Capital expenditures – excluding equipment leased to others (1,315) (1,265)
Expenditures for equipment leased to others (847) (608)
Proceeds from disposals of leased assets and property, plant and equipment 436 365
Additions to finance receivables (8,639) (7,064)
Collections of finance receivables 8,060 6,399
Proceeds from sale of finance receivables 33 18
Investments and acquisitions (net of cash acquired) (802) (21)
Proceeds from sale of businesses and investments (net of cash sold) (92) 12
Proceeds from maturities and sale of securities 734 1,328
Investments in securities (1,155) (618)
Other – net 148 (53)
Net cash provided by (used for) investing activities (3,439) (1,507)
Cash flow from financing activities:    
Dividends paid (1,399) (1,336)
Common stock issued, and other stock compensation transactions, net (121) (59)
Payments to purchase common stock (6,522) (4,488)
Excise tax paid on purchases of common stock (49) (73)
Short-term borrowings – net (original maturities three months or less) (542) 72
Net cash provided by (used for) financing activities (6,033) (4,345)
Effect of exchange rate changes on cash (35) (7)
Increase (decrease) in cash, cash equivalents and restricted cash (3,266) (1,448)
Cash, cash equivalents and restricted cash at beginning of period 9,986 6,896
Cash, cash equivalents and restricted cash at end of period 6,720 5,448
Sales of Machinery, Power & Energy    
Cash flow from financing activities:    
Proceeds from debt issued (original maturities greater than three months): 0 1,976
Payments on debt (original maturities greater than three months): (19) (35)
Financial Products    
Cash flow from financing activities:    
Proceeds from debt issued (original maturities greater than three months): 7,363 3,731
Payments on debt (original maturities greater than three months): $ (4,744) $ (4,133)