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Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows - operating activities    
Net income $ 1,198 $ 1,394
Income (loss) from discontinued operations, net of taxes (4) 12
Net income from continuing operations 1,202 1,382
Adjustments to reconcile Net income from continuing operations to Cash from (used for) operating activities    
Depreciation of property, plant, and equipment 188 169
Amortization of intangible assets 278 307
Gain on fair value remeasurement of contingent consideration (17) (49)
Net periodic postretirement benefit plan (income) expense (291) 8
Postretirement plan contributions (259) (17)
Provision for income taxes 550 412
Share-based compensation 81 58
Cash paid during the year for income taxes (375) (664)
Cash paid during the year for interest (318) 0
Changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions:    
Receivables (82) (107)
Due from related parties 9 22
Inventories (85) (542)
Contract and other deferred assets (75) (168)
Accounts payable (93) 369
Due to related parties (87) (45)
Contract liabilities 69 49
All other operating activities 356 (113)
Cash from (used for) operating activities – continuing operations 1,051 1,071
Cash flows – investing activities    
Additions to property, plant and equipment and internal-use software (293) (233)
Dispositions of property, plant, and equipment 1 3
Purchases of businesses, net of cash acquired (147) 0
All other investing activities (31) (73)
Cash from (used for) investing activities – continuing operations (470) (303)
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) (9) 8
Newly issued debt, net of debt issuance costs (maturities longer than 90 days) 2,020 3
Repayments and other reductions (maturities longer than 90 days) (9) (4)
Dividends paid to stockholders (28) 0
Redemption of noncontrolling interests (211) 0
Net transfers (to) from GE (1,317) (703)
All other financing activities (24) (89)
Cash from (used for) financing activities – continuing operations 422 (785)
Effect of foreign currency rate changes on cash, cash equivalents, and restricted cash (34) (40)
Increase (decrease) in cash, cash equivalents, and restricted cash 969 (57)
Cash, cash equivalents, and restricted cash at beginning of year 1,451 561
Cash, cash equivalents, and restricted cash as of September 30 $ 2,420 $ 504