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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Millions
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Cash Flows From Operating Activities      
Net loss $ (212) $ (937) $ (559)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization of intangible assets 1,394 1,552 1,825
Amortization and write-off of debt discounts and debt issuance costs 99 55 61
Asset impairments, including loss on assets held for sale 15 234 114
Goodwill impairment 824 469 0
Acquisition-related contingent consideration 29 11 48
Allowances for losses on trade receivables and inventories 51 60 60
Deferred income taxes (176) (225) (475)
Net gain on sale of assets (5) (2) (1)
Additions to accrued legal settlements 9 569 442
Payments of accrued legal settlements (1,572) (351) (168)
Share-based compensation 126 128 105
Gain excluded from hedge effectiveness (6) (20) (23)
(Gain) loss on extinguishment of debt (875) 62 59
Third party fees paid in connection with the Exchange Offer (34) 0 0
Payments of contingent consideration adjustments, including accretion (2) (16) (1)
Foreign exchange and other 3 (35) (10)
Changes in operating assets and liabilities:      
Trade receivables (57) (229) 170
Inventories (198) (16) (77)
Prepaid expenses and other current assets (66) (4) 12
Accounts payable, accrued and other liabilities (75) 121 (471)
Net cash (used in) provided by operating activities (728) 1,426 1,111
Cash Flows From Investing Activities      
Acquisition of businesses, net of cash acquired (45) 0 0
Acquisition of intangible assets and other assets (50) (14) (7)
Purchases of property, plant and equipment (218) (269) (302)
Purchases of marketable securities (17) (19) (4)
Proceeds from sale of marketable securities 22 15 8
Proceeds from sale of assets and businesses, net of costs to sell 5 669 21
Interest settlements from cross-currency swaps 0 27 23
Net cash (used in) provided by investing activities (303) 409 (261)
Cash Flows From Financing Activities      
Issuance of long-term debt, net of discounts 6,836 2,100 3,455
Repayments of long-term debt (7,846) (3,440) (5,642)
Proceeds from B+L initial public offering, net of costs 675 0 0
Payment of employee withholding taxes related to share-based awards (31) (52) (30)
Payments of acquisition-related contingent consideration (26) (83) (35)
Payments of financing costs (71) (48) (39)
Other (11) 10 (3)
Net cash used in financing activities (474) (1,513) (2,294)
Effect of exchange rate changes on cash and cash equivalents (23) (19) 16
Net (decrease) increase in cash, cash equivalents, restricted cash and other settlement deposits (1,528) 303 (1,428)
Cash, cash equivalents, restricted cash and other settlement deposits, beginning of period 2,119 1,816 3,244
Cash, cash equivalents, restricted cash and other settlement deposits, end of period 591 2,119 1,816
Cash and cash equivalents, end of year 564 582 605
Restricted cash and other settlement deposits 27 1,537 1,211
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Total $ 591 $ 2,119 $ 1,816