v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
$ in Millions
 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Operating Activities    
Net income before allocation to noncontrolling interests $ 1,292 $ 1,328 [1]
Adjustments to reconcile net income before noncontrolling interests to net cash provided by operating activities:    
Depreciation and amortization expense 238 [2],[3] 243 [1],[2],[3]
Share-based compensation expense 51 39 [1]
Asset write-offs and asset impairments 0 33 [1]
Net loss on sale of business, excluding transaction costs 0 3 [1]
Net gain on sale of assets (7) 0 [1]
Provision for losses on inventory 26 35 [1]
Deferred taxes 1 12 [1]
Other non-cash adjustments (2) (2) [1]
Other changes in assets and liabilities, net of acquisitions and divestitures:    
Accounts receivable (172) (152) [1]
Inventories (137) (167) [1]
Other assets (158) (181) [1]
Accounts payable 9 15 [1]
Other liabilities (92) (61) [1]
Other tax accounts, net 7 (25) [1]
Net cash provided by operating activities 1,056 1,120 [1]
Investing Activities    
Capital expenditures (227) (324) [1]
Acquisitions, net of cash acquired 0 (10)
Purchase of investments (208) (3) [1]
Proceeds from/(payments of) derivative instrument activity, net 36 (76) [1]
Proceeds from sale of business, net of cash sold and working capital adjustments 0 (4)
Net proceeds from sale of assets 11 0 [1]
Other investing activities 1 2 [1]
Net cash used in investing activities (387) (415) [1]
Financing Activities    
Share-based compensation-related proceeds, net of taxes paid on withholding shares (12) (12) [1]
Purchases of treasury stock, including excise taxes paid (1,190) (781) [1]
Cash dividends paid (447) (447) [1]
Other financing activities (4) (1) [1]
Net cash used in financing activities (1,653) (1,241) [1]
Effect of exchange-rate changes on cash and cash equivalents 10 54 [1]
Net decrease in cash and cash equivalents (974) (482) [1]
Cash and cash equivalents at beginning of period 2,450 2,114 [1]
Cash and cash equivalents at end of period 1,476 1,632 [1]
Cash paid during the period for:    
Income taxes(b) 430 472 [1],[4]
Interest, net of capitalized interest 148 137 [1]
Amounts included in the measurement of lease liabilities:    
Operating cash flows - operating leases 36 34 [1]
Financing cash flows - finance leases 0 2 [1]
Non-cash transactions:    
Capital expenditures 2 3 [1]
Excise tax accrued on net share repurchases, not paid 11 7 [1]
Lease obligations obtained in exchange for right-of-use assets - operating 17 58 [1]
Lease obligations obtained in exchange for right-of-use assets - finance 0 $ 1 [1]
Dividends declared, not paid $ 221  
[1] See Note 2. Basis of Presentation for further detail regarding the Fiscal Year Alignment.
[2] Certain production facilities are shared. Depreciation and amortization is allocated to the reportable operating segments based on estimates of where the benefits of the related assets are realized.
[3] Defined as income before provision for taxes on income.
[4] For the six months ended June 30, 2025, includes $88 million related to the purchase of transferable federal tax credits.