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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 185 $ 407
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 273 267
Stock-based compensation expense 9 9
Loss from disposition and write-off of property, plant and equipment 5 6
Deferred income taxes (22) (16)
Other gains, net (3) (4)
Changes in operating assets and liabilities, net of effect of business acquisitions    
Accounts receivable (97) (15)
Inventories (47) 34
Prepaid expenses and other current assets 15 6
Accounts payable 63 (20)
Accrued and other liabilities (111) (69)
Other, net (101) (93)
Net cash provided by operating activities 169 512
Cash flows from investing activities    
Additions to investments in unconsolidated subsidiaries (1) (1)
Additions to property, plant and equipment (272) (267)
Other, net 1 5
Net cash used for investing activities (272) (263)
Cash flows from financing activities    
Distributions to noncontrolling interests (10) (10)
Dividends paid (65) (47)
Proceeds from exercise of stock options 7 5
Repurchase of common stock for treasury 0 (22)
Other, net (6) (1)
Net cash used for financing activities (74) (75)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (18) 9
Net increase (decrease) in cash, cash equivalents and restricted cash (195) 183
Cash, cash equivalents and restricted cash at beginning of period 3,319 2,246
Cash, cash equivalents and restricted cash at end of period $ 3,124 $ 2,429