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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ (302) $ 446
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 240 222
Impairment of goodwill, intangibles and other assets 274 148
Gain from sale of business 0 (136)
Deferred income taxes (108) 215
Stock based compensation expense 32 8
Pension settlement charge 66 0
Other, net 3 (2)
Changes in operating accounts excluding the effects of divestiture:    
Accounts receivable 26 (165)
Inventories 411 (754)
Accounts payable 31 (143)
Accrued liabilities and other 6 (406)
Net cash provided by (used in) operating activities 679 (567)
Cash flows from investing activities:    
Proceeds from sale of divested business 0 616
Capital expenditures (209) (221)
Other investing activities, net 62 25
Net cash provided by (used in) investing activities (147) 420
Cash flows from financing activities:    
Net payments of short-term debt (244) 0
Net proceeds from issuance of long-term debt 0 990
Payments on current portion of long-term debt (2) (2)
Repurchase of shares of common stock 0 (325)
Cash dividends (155) (290)
Equity compensation activity and other, net (4) (29)
Net cash provided by (used in) financing activities (405) 344
Exchange rate effect on cash, cash equivalents and restricted cash (8) (13)
Increase in cash, cash equivalents and restricted cash 119 184
Cash, cash equivalents and restricted cash at beginning of period 303 477
Cash, cash equivalents and restricted cash at end of period 422 661
Supplemental disclosures:    
Restricted cash at beginning of period 16 37
Restricted cash at end of period $ 26 $ 25