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Condensed Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities    
Net income $ 403.2 $ 1,130.3
Gains on disposition of property, plant and equipment (27.0) (13.0)
Adjustments to reconcile net income to net cash and cash equivalents provided by (used for) operating activities:    
Stock-based compensation 13.2 10.4
Depreciation and amortization 404.9 450.3
Deferred income taxes (60.6) (3.7)
Write-off of equipment and facility included in restructuring charges 17.7 0.0
Qualified pension plan contributions (1.6) (0.9)
Qualified pension plan income (15.0) (24.7)
Change in:    
Receivables 28.4 (25.8)
Income taxes receivable/payable 55.3 75.5
Inventories (43.4) (102.9)
Other current assets 9.8 5.8
Accounts payable and accrued liabilities (222.7) 31.7
Other assets (27.2) (17.5)
Other noncurrent liabilities 29.5 (9.1)
Other operating activities (6.8) 3.3
Net operating activities 557.7 1,509.7
Investing Activities    
Capital expenditures (173.0) (168.4)
Payments under other long-term supply contracts (46.2) 0.0
Proceeds from disposition of property, plant and equipment 28.8 14.9
Other investing activities (3.6) 0.0
Net investing activities (194.0) (153.5)
Long-term debt:    
Borrowings 587.7 215.0
Repayments (381.1) (415.9)
Common stock repurchased and retired (595.1) (1,100.6)
Stock options exercised 22.3 21.3
Dividends paid (76.6) (89.4)
Contributions received from noncontrolling interests 44.1 0.0
Net financing activities (398.7) (1,369.6)
Effect of exchange rate changes on cash and cash equivalents (0.7) (3.5)
Net decrease in cash and cash equivalents (35.7) (16.9)
Cash and cash equivalents, beginning of year 194.0 180.5
Cash and cash equivalents, end of period 158.3 163.6
Cash paid for interest and income taxes:    
Interest, net 148.9 122.1
Income taxes, net of refunds 81.9 213.0
Non-cash investing activities:    
Decrease in capital expenditures included in accounts payable and accrued liabilities $ 17.9 $ 12.0