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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 628 $ 1,009
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 833 815
Stock-based compensation expense 31 31
Loss from disposition and write-off of property, plant and equipment 31 24
Deferred income taxes (58) (67)
Other losses (gains), net (11) (12)
Changes in operating assets and liabilities, net of effect of business acquisitions    
Accounts receivable (151) (130)
Inventories (124) 194
Prepaid expenses and other current assets (52) (28)
Accounts payable 53 (28)
Accrued and other liabilities (139) 144
Other, net (161) (189)
Net cash provided by operating activities 880 1,763
Cash flows from investing activities    
Additions to investments in unconsolidated subsidiaries (24) (18)
Additions to property, plant and equipment (723) (752)
Other, net 11 20
Net cash used for investing activities (736) (750)
Cash flows from financing activities    
Distributions to noncontrolling interests (31) (33)
Dividends paid (197) (156)
Proceeds from exercise of stock options 13 39
Repayment of senior notes (300) 0
Repurchase of common stock for treasury 0 (23)
Other, net (2) (2)
Net cash used for financing activities (517) (175)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (15) (12)
Net increase (decrease) in cash, cash equivalents and restricted cash (388) 826
Cash, cash equivalents and restricted cash at beginning of period 3,319 2,246
Cash, cash equivalents and restricted cash at end of period $ 2,931 $ 3,072