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Statement of Consolidated Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Operating activities          
Net income $ 36 $ 95 $ 155 $ 161  
Adjustments to reconcile net income to cash used for operations:          
Depreciation and amortization     271 407  
Deferred income taxes     25 (36)  
Restructuring and other charges     148 630  
Net loss from investing activities—asset sales     6 6  
Net periodic pension benefit cost (G)     42 87  
Stock-based compensation     35 44  
Other     63 15  
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:          
(Increase) in receivables     (117) (957)  
(Increase) in inventories     (42) (92)  
Decrease in prepaid expenses and other current assets     1 17  
(Decrease) in accounts payable, trade (A)     (439) (2)  
(Decrease) in accrued expenses     (177) (90)  
Increase in taxes, including income taxes     41 92  
Pension contributions     (110) (217)  
(Increase) in noncurrent assets     (5) (12)  
(Decrease) in noncurrent liabilities     (39) (36)  
Cash (used for) provided by operations     (142) 17  
Financing Activities          
Net change in short-term borrowings (original maturities of three months or less)     (8) 0  
Additions to debt (original maturities greater than three months) (B)(O)     2,400 300  
Payments on debt (original maturities greater than three months) (O)     (2,041) (303)  
Debt issuance costs (B)(O)     (61) 0  
Premiums paid on early redemption of debt (O)     (59) 0  
Proceeds from exercise of employee stock options     30 19  
Dividends paid to shareholders     (10) (48)  
Repurchase of common stock     (51) (1,100)  
Net cash transferred to Arconic Corporation at separation (B)     (500) 0  
Other     (39) (12)  
Cash used for financing activities     (339) (1,144)  
Investing Activities          
Capital expenditures (A)(D) (36) (127) (220) (532)  
Proceeds from the sale of assets and businesses (B)(Q)     114 27  
Sale of debt securities     0 47  
Cash receipts from sold receivables (K)     258 630  
Other     0 (1)  
Cash provided from investing activities     152 171  
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (6) (2)  
Net change in cash, cash equivalents and restricted cash     (335) (958)  
Cash, cash equivalents and restricted cash at beginning of period     1,703 2,282 $ 2,282
Cash, cash equivalents and restricted cash at end of period $ 1,368 $ 1,324 $ 1,368 $ 1,324 $ 1,703