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Statement of Consolidated Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income $ 148 $ 131
Adjustments to reconcile net income to cash provided from operations:    
Depreciation and amortization 69 66
Deferred income taxes 31 28
Restructuring and other charges 1 2
Net realized and unrealized losses 4 3
Net periodic pension cost 9 6
Stock-based compensation 14 11
Loss on debt redemption 1 0
Other 5 22
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:    
Increase in receivables (137) (123)
Increase in inventories (45) (87)
Decrease in prepaid expenses and other current assets 12 5
(Decrease) increase in accounts payable, trade (67) 68
Decrease in accrued expenses (19) (54)
Increase in taxes, including income taxes 16 6
Pension contributions (9) (11)
Decrease (increase) in noncurrent assets 2 (1)
Decrease in noncurrent liabilities (12) (17)
Cash provided from operations 23 55
Financing Activities    
Net change in short-term borrowings 0 (3)
Repurchases and payments on debt (176) 0
Premiums paid on early redemption of debt (1) 0
Repurchase of common stock (25) (175)
Proceeds from exercise of employee stock options 6 7
Dividends paid to shareholders (17) (9)
Other (1) (14)
Cash used for financing activities (214) (194)
Investing Activities    
Capital expenditures (64) (62)
Proceeds from the sale of assets and businesses 0 1
Cash used for investing activities (64) (61)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1 0
Net change in cash, cash equivalents and restricted cash (254) (200)
Cash, cash equivalents and restricted cash at beginning of period 792 722
Cash, cash equivalents and restricted cash at end of period $ 538 $ 522