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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 789 $ 181
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 397 381
Stock-based compensation expense 16 14
Loss from disposition and write-off of property, plant and equipment 7 9
Deferred income taxes 24 96
Other losses, net 22 3
Changes in operating assets and liabilities, net of effect of business acquisitions    
Accounts receivable (345) (128)
Inventories (55) 87
Prepaid expenses and other current assets (39) (16)
Accounts payable 132 8
Accrued and other liabilities 4 (75)
Other, net (70) (51)
Net cash provided by operating activities 882 509
Cash flows from investing activities    
Additions to property, plant and equipment (270) (291)
Return of (additions to) investment from unconsolidated subsidiaries (9) 39
Other, net 15 (8)
Net cash used for investing activities (264) (260)
Cash flows from financing activities    
Distributions to noncontrolling interests (22) (29)
Dividends paid (69) (68)
Net proceeds from debt issuance and drawdown of revolver 4 1,299
Net proceeds from (repayment of) short-term notes payable 5 (14)
Repayment of revolver 0 (1,000)
Repurchase of common stock for treasury 0 (54)
Other, net 10 (3)
Net cash provided by (used for) financing activities (72) 131
Effect of exchange rate changes on cash, cash equivalents and restricted cash (4) 0
Net increase in cash, cash equivalents and restricted cash 542 380
Cash, cash equivalents and restricted cash at beginning of period 1,337 750
Cash, cash equivalents and restricted cash at end of period $ 1,879 $ 1,130