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Statement of Consolidated Cash Flows (unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 529 $ 358
Adjustments to reconcile net income to cash provided from operations:    
Depreciation and amortization 204 198
Deferred income taxes 92 58
Restructuring and other charges 8 12
Net realized and unrealized losses 17 12
Net periodic pension cost (E) 28 17
Stock-based compensation 39 43
Loss on debt redemption (N) 1 2
Other 2 26
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:    
Increase in receivables (J) (211) (246)
Increase in inventories (148) (271)
(Increase) decrease in prepaid expenses and other current assets (12) 5
(Decrease) increase in accounts payable, trade (57) 130
(Decrease) increase in accrued expenses (18) 18
Increase (decrease) in taxes, including income taxes 17 (1)
Pension contributions (19) (34)
Increase in noncurrent assets (2) (5)
Decrease in noncurrent liabilities (27) (44)
Cash provided from operations 443 278
Financing Activities    
Net change in short-term borrowings 0 (4)
Repurchases and payments on debt (N) (376) (60)
Premiums paid on early redemption of debt (N) (1) (2)
Repurchases of common stock (150) (335)
Proceeds from exercise of employee stock options 10 14
Dividends paid to shareholders (52) (27)
Taxes paid for net share settlement of equity awards (77) (23)
Cash used for financing activities (646) (437)
Investing Activities    
Capital expenditures (C) (164) (148)
Proceeds from the sale of assets and businesses (L) 1 42
Cash used for investing activities (163) (106)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1) (3)
Net change in cash, cash equivalents and restricted cash (367) (268)
Cash, cash equivalents and restricted cash at beginning of period 792 722
Cash, cash equivalents and restricted cash at end of period $ 425 $ 454