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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income $ 279 $ 367 $ 460
Adjustments to reconcile to net cash provided by operating activities:      
Depreciation and amortization 1,156 325 323
Deferred income taxes (236) (68) (59)
(Gains) losses on sale of assets (1) 4 2
Stock-based compensation 54 36 34
Pension contributions (37) (24) (24)
Changes in assets and liabilities, net of acquisitions:      
Trade receivables (169) (61) 60
Inventories (363) 18 (62)
Accounts payable 419 28 55
Accruals for incentive compensation 96 44 (22)
Other current payables and accrued expenses 4 57 5
Other assets/liabilities, net (133) (12) (73)
Net cash provided by operating activities 1,437 714 699
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash received 0 0 (49)
Additions to property, plant and equipment (393) (192) (236)
Additions to intangible assets (4) 0 (6)
Proceeds from disposal of assets 18 17 42
Proceeds from unwinding of cross currency swap derivative instruments 0 0 26
Cash acquired from acquisition 246 0 0
Proceeds from Divestiture of Businesses 115 0 0
Contingent consideration paid 0 0 (5)
Maturity of net investment hedges 0 (14) 0
Proceeds from life insurance contracts 0 2 2
Net cash used in investing activities (18) (187) (226)
Cash flows from financing activities:      
Cash dividends paid to shareholders (667) (323) (314)
Payments of Ordinary Dividends, Noncontrolling Interest (2) 0 0
Decrease in revolving credit facility and short term borrowing (105) 0 (1)
Deferred financing costs (3) (3) 0
Repayments of long-term debt (828) (347) (155)
Purchases of redeemable noncontrolling interest 0 (22) 0
Proceeds from issuance of long-term debt (3) (200) 0
Contingent consideration paid (14) (9) (24)
Proceeds from issuance of stock in connection with stock options 9 0 0
Employee withholding taxes paid (21) (8) (11)
Net cash used in financing activities (1,304) (512) (505)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (59) 21 7
Net change in cash, cash equivalents and restricted cash 56 36 (25)
Cash, cash equivalents and restricted cash at beginning of year 660 624 649
Cash, cash equivalents and restricted cash at end of year 716 660 624
Supplemental Disclosures:      
Interest paid, net of amounts capitalized 310 128 134
Income taxes paid 289 133 126
Accrued capital expenditures 117 41 39
Proceeds from Issuance of Commercial Paper 324 0 0
Amortization Of Inventory Step-Up $ 368 $ 0 $ 0