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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities    
Net (loss) income $ (564) $ 198
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization of intangible assets 935 1,034
Amortization and write-off of debt premiums, discounts and issuance costs 51 86
Asset impairments 54 15
Goodwill impairments 402 202
Acquisition-related contingent consideration 40 2
Allowances for losses on trade receivable and inventories 43 36
Deferred income taxes (33) (195)
Net gain on sale of assets (4) (3)
Adjustments to accrued legal settlements 24 7
Payments of accrued legal settlements (3) (1,572)
Share-based compensation 103 91
Foreign exchange loss (gain) 23 (1)
Gain excluded from hedge effectiveness (10) (3)
Gain on extinguishment of debt 0 (683)
Third party fees paid in connection with the Exchange Offer (2) (31)
Payments of contingent consideration adjustments, including accretion (4) (1)
Other (1) (11)
Changes in operating assets and liabilities:    
Trade receivables (176) (26)
Inventories (222) (194)
Prepaid expenses and other current assets (75) (32)
Accounts payable, accrued and other liabilities 61 (122)
Net cash provided by (used in) operating activities 642 (1,203)
Cash Flows From Investing Activities    
Acquisitions and other investments (1,887) 0
Purchases of property, plant and equipment (117) (152)
Payments for intangible and other assets (11) (20)
Purchases of marketable securities (13) (15)
Proceeds from sale of marketable securities 13 20
Proceeds from sale of assets and businesses, net of costs to sell 5 0
Interest settlements from cross-currency swaps 13 0
Net cash used in investing activities (1,997) (167)
Cash Flows From Financing Activities    
Issuance of long-term debt, net of discounts 3,145 6,481
Repayments of long-term debt (1,507) (7,224)
Proceeds from B+L initial public offering, net of costs 0 675
Payments of employee withholding taxes related to share-based awards (23) (30)
Payments of acquisition-related contingent consideration (17) (19)
Payments of financing costs (36) (71)
Other (8) (10)
Net cash provided by (used in) financing activities 1,554 (198)
Effect of exchange rate changes on cash, cash equivalents and other (10) (54)
Net increase (decrease) in cash, cash equivalents, restricted cash and other settlement deposits 189 (1,622)
Cash, cash equivalents, restricted cash and other settlement deposits, beginning of period 591 2,119
Cash, cash equivalents, restricted cash and other settlement deposits, end of period 780 497
Cash and cash equivalents 760 486
Restricted cash 20 11
Cash, cash equivalents, restricted cash and other settlement deposits, end of period $ 780 $ 497