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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net (loss) income $ (1,840) $ 187
Adjustments to reconcile to net cash provided by operating activities    
Depreciation and amortization 897 861
Deferred income taxes (222) (148)
Gains on sales of fixed assets 2 1
Gain (Loss) on Disposition of Business (14) 0
Stock-based compensation 37 44
Pension contributions (25) (21)
Amortization of inventory step-up 0 363
Impairment of goodwill 2,250 0
Impairment of long-lived assets 120 0
Changes in assets and liabilities, net of acquisitions:    
Trade receivables (309) (214)
Inventories (808) (230)
Accounts payable 111 256
Accruals for incentive compensation (56) 43
Other current payables and accrued expenses 202 99
Other assets/liabilities, net (152) (113)
Net cash provided by operating activities 189 1,126
Cash flows from investing activities:    
Cash paid for acquisitions, net of cash received (110) 0
Additions to property, plant and equipment (344) (242)
Additions to intangible assets (2) (4)
Proceeds from disposal of assets 1 13
Cash provided by the Merger with N&B 11 193
Proceeds from unwinding of derivative instruments 173 0
Net cash provided by investing activities 887 75
Cash flows from financing activities:    
Cash dividends paid to shareholders (604) (466)
Increase (decrease) in revolving credit facility and short-term borrowings 2 (105)
Proceeds from issuance of commercial paper (maturities after three months) 160 0
Repayments of commercial paper (maturities after three months) (235) 0
Net (repayments) borrowings of commercial paper (maturities less than three months) (52) 200
Repayments of long-term debt (300) (628)
Proceeds from issuance of long-term debt 0 3
Contingent consideration paid 0 (14)
Purchases of redeemable noncontrolling interest (39) 0
Purchases of noncontrolling interest (6) 0
Proceeds from issuance of stock in connection with stock options 7 8
Employee withholding taxes paid (20) (20)
Net cash used in financing activities (1,087) (1,022)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (150) (44)
Net change in cash, cash equivalents and restricted cash (161) 135
Cash, cash equivalents and restricted cash at beginning of year 716 660
Cash, cash equivalents and restricted cash at end of period 555 795
Supplemental Disclosures:    
Interest paid, net of amounts capitalized 199 216
Income taxes paid 276 198
Accrued capital expenditures 93 44
Net proceeds received from business divestiture $ 1,158 $ 115