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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows - operating activities    
Net income $ 388 $ 383
Adjustments to reconcile Net income to Cash from (used for) operating activities    
Depreciation of property, plant, and equipment 68 61
Amortization of intangible assets 80 96
Gain on fair value remeasurement of contingent consideration (1) 0
Net periodic postretirement benefit plan (income) expense (90) (101)
Postretirement plan contributions (87) (91)
Share-based compensation 34 24
Provision for income taxes 124 163
Cash paid during the year for income taxes (86) (102)
Changes in operating assets and liabilities, excluding the effects of acquisitions:    
Receivables 155 (22)
Due from related parties 13 5
Inventories (59) (122)
Contract and other deferred assets 32 12
Accounts payable 81 87
Due to related parties (50) 6
Contract liabilities (18) 119
All other operating activities (165) (50)
Cash from (used for) operating activities 419 468
Cash flows – investing activities    
Additions to property, plant and equipment and internal-use software (145) (143)
Purchases of businesses, net of cash acquired 0 (127)
All other investing activities (42) 4
Cash from (used for) investing activities (188) (266)
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) 1 (9)
Newly issued debt, net of debt issuance costs (maturities longer than 90 days) 1 2,000
Repayments and other reductions (maturities longer than 90 days) (153) (6)
Dividends paid to stockholders (14) 0
Net transfers (to) from GE 0 (1,317)
All other financing activities 12 5
Cash from (used for) financing activities (153) 673
Effect of foreign currency rate changes on cash, cash equivalents, and restricted cash (19) 8
Increase (decrease) in cash, cash equivalents, and restricted cash 59 883
Cash, cash equivalents, and restricted cash at beginning of year 2,506 1,451
Cash, cash equivalents, and restricted cash as of March 31 2,565 2,334
Supplemental disclosure of cash flows information    
Cash paid during the year for interest (55) (42)
Non-cash investing activities    
Acquired but unpaid property, plant, and equipment $ 53 $ 64