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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income $ 1,409 $ 250
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 600 577
Stock-based compensation expense 23 21
Loss from disposition and write-off of property, plant and equipment 14 26
Deferred income taxes 50 154
Other losses, net 21 23
Changes in operating assets and liabilities, net of effect of business acquisitions    
Accounts receivable (414) (251)
Inventories (180) 108
Prepaid expenses and other current assets (49) (8)
Accounts payable 184 17
Accrued and other liabilities 78 14
Other, net (99) (65)
Net cash provided by operating activities 1,637 866
Cash flows from investing activities    
Acquisition of businesses, net of cash acquired (428) 0
Additions to property, plant and equipment (414) (403)
Return of (additions to) investment from unconsolidated subsidiaries (19) 44
Other, net 19 (7)
Net cash used for investing activities (842) (366)
Cash flows from financing activities    
Debt issuance costs (18) (3)
Distributions to noncontrolling interests (32) (39)
Dividends paid (107) (102)
Proceeds from debt issuance and drawdown of revolver, net 1,668 1,299
Proceeds from (repayment of) short-term notes payable, net 5 (17)
Repayment of revolver and senior notes 0 (1,100)
Repurchase of common stock for treasury (30) (54)
Other, net 1 2
Net cash provided by (used for) financing activities 1,487 (14)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (9) 4
Net increase in cash, cash equivalents and restricted cash 2,273 490
Cash, cash equivalents and restricted cash at beginning of period 1,337 750
Cash, cash equivalents and restricted cash at end of period $ 3,610 $ 1,240