v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income $ 2,827 $ 2,277
Adjustments to reconcile to net cash provided by operating activities    
Depreciation and amortization 687 695
Deferred income taxes (88) (69)
Pension and other postretirement benefits expense 18 13
Contributions to pension plans (89) (83)
Contributions to other postretirement benefits plans (13) (15)
Changes in working capital (657) (436)
Other - net 45 (56)
Net cash provided by operating activities 2,730 2,326
Investing activities    
Capital expenditures for property, plant and equipment (553) (514)
Proceeds from sales of property, plant and equipment 84 54
Cash paid for acquisition of a business, net of cash acquired (50) 0
Investments in associate companies (68) (68)
Return of investment from associate companies 33 9
Sales (purchases) of short-term investments - net 595 (1,304)
Proceeds from (payments for) settlement of currency exchange contracts not designated as hedges - net (14) 61
Other - net (27) (20)
Net cash used in investing activities 0 (1,782)
Financing activities    
Proceeds from borrowings 1,084 818
Payments on borrowings (1,011) (11)
Short-term debt, net (6) (295)
Cash dividends paid (1,130) (1,035)
Exercise of employee stock options 54 73
Repurchase of shares (1,615) 0
Employee taxes paid from shares withheld (67) (49)
Other - net (1) (9)
Net cash used in financing activities (2,692) (507)
Effect of currency on cash (52) 18
Total increase (decrease) in cash (14) 54
Cash at the beginning of the period 488 294
Cash at the end of the period $ 473 $ 348