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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities    
Net (Loss) Income $ (62) $ 130
Adjustments required to reconcile Net (loss) income to Cash flows (used in) provided by operating activities    
Depreciation and amortization 140 170
Provisions 35 34
Net gain on sales of businesses and assets (1) (1)
Stock-based compensation 50 30
Restructuring and asset impairment charges 22 25
Payments for restructurings (21) (49)
Non-service retirement-related costs [1] (11) (42)
Contributions to retirement plans [1] (72) (80)
(Increase) decrease in accounts receivable and billed portion of finance receivables (49) 37
(Increase) decrease in inventories (95) 4
Increase in equipment on operating leases (47) (63)
Decrease in finance receivables 17 12
Decrease in other current and long-term assets 35 66
Increase (decrease) in accounts payable 172 (33)
Increase in accrued compensation [1] 7 16
(Decrease) increase in other current and long-term liabilities (48) 92
Net change in income tax assets and liabilities (76) 2
Net change in derivative assets and liabilities (6) (2)
Other operating, net (9) (17)
Net cash (used in) provided by operating activities (19) 331
Cash Flows from Investing Activities    
Cost of additions to land, buildings, equipment and software (29) (33)
Proceeds from sales of businesses and assets 26 1
Acquisitions, net of cash acquired (52) (37)
Other investing, net (7) (3)
Net cash used in investing activities (62) (72)
Cash Flows from Financing Activities    
Proceeds from issuance of long-term debt 754 0
Payments on long-term debt (1,133) (209)
Dividends (88) (108)
Payments to acquire treasury stock, including fees (113) (413)
Other financing, net (7) (17)
Net cash used in financing activities (587) (747)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (14) 0
Decrease in cash, cash equivalents and restricted cash (682) (488)
Cash, cash equivalents and restricted cash at beginning of period 1,909 2,691
Cash, Cash Equivalents and Restricted Cash at End of Period $ 1,227 $ 2,203
[1] Captions were changed in 2022 to reflect the inclusion of expense and contributions for our Retiree Health plans, which were previously reported as part of the Increase in accrued compensation. There was no change to Net cash (used in) provided by operating activities as a result of the reclassification. Prior year amounts have been revised to conform to this presentation. Refer to Note 16 - Employee Benefit Plans for additional information.