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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income (loss) $ 1,326.9 $ 1,296.7 $ (969.9)
Adjustments to reconcile net income (loss) to net cash and cash equivalents provided by (used for) operating activities:      
Goodwill impairment 0.0 0.0 699.8
Gains on disposition of property, plant and equipment (13.0) (1.4) 0.0
Stock-based compensation 14.1 8.3 13.6
Loss on Extinguishment of Debt 0.0 152.2 20.4
Depreciation and amortization 598.8 582.5 568.4
Deferred income taxes (32.4) (42.7) (18.4)
Qualified pension plan contributions (1.3) (1.1) (2.1)
Qualified pension plan income 33.1 27.8 11.4
Change in assets and liabilities:      
Receivables 160.8 (360.0) (0.3)
Income taxes receivable/payable (2.9) 105.1 (11.2)
Inventories (86.3) (206.0) 28.6
Other current assets 15.9 (22.3) (24.8)
Accounts payable and accrued liabilities (22.3) 240.1 149.3
Other assets (2.6) (13.3) (20.2)
Other noncurrent liabilities (0.7) 26.2 8.6
Other operating activities 0.0 4.5 2.6
Net operating activities 1,921.9 1,741.0 433.0
Investing Activities      
Capital expenditures (236.9) (200.6) (298.9)
Payments under ethylene long-term supply contracts 0.0 0.0 461.0
Payments under other long-term supply contracts (37.7) 0.0 (75.8)
Proceeds from disposition of property, plant and equipment 14.9 3.2 0.0
Net investing activities (259.7) (197.4) (835.7)
Long-term debt:      
Borrowings 415.0 540.0 1,827.5
Repayments 616.1 1,643.1 1,307.2
Debt early redemption premiums 0.0 (137.7) (14.6)
Common stock repurchased and retired (1,350.7) (251.9) 0.0
Stock options exercised 25.7 72.4 1.9
Dividends paid (116.2) (127.8) (126.3)
Debt issuance costs (4.4) (3.9) (10.3)
Net financing activities (1,646.7) (1,552.0) 371.0
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations (2.0) (0.8) 0.5
Net increase (decrease) in cash and cash equivalents 13.5 (9.2) (31.2)
Cash and cash equivalents, beginning of year 180.5 189.7 220.9
Cash and cash equivalents, end of year 194.0 180.5 189.7
Cash paid (received) for interest and income taxes:      
Interest, net 141.7 345.2 286.4
Income taxes, net of refunds $ 356.6 $ 169.6 $ (9.6)