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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income $ 319 $ 240
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 240 246
Stock-based compensation expense 20 24
Below market intangible amortization (25) (20)
Net loss on disposal of property, plant and equipment 3 3
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable and unbilled accounts receivable 45 (29)
Inventories (256) 8
Accounts payable 185 82
Accrued income taxes 32 19
Accrued liabilities and customer deposits (93) (38)
Other assets and liabilities (46) (20)
Net cash provided by operating activities 424 515
Investing Activities    
Purchase of property, plant and equipment (50) (55)
Proceeds from disposal of property, plant and equipment 2 8
Acquisitions of businesses, net of cash acquired (69) (405)
Net cash used for investing activities (117) (452)
Financing Activities    
Proceeds from debt, net of issuance costs 3,416 3,008
Payments of debt (3,216) (3,170)
Repurchase of stock (399) (1)
Cash dividends (55) (46)
Other financing activities (2) (4)
Net cash used for financing activities (256) (213)
Effect of changes in currency exchange rates (23) 5
Increase (decrease) in cash 28 (145)
Cash and cash equivalents, beginning of period 473 599
Cash and cash equivalents, end of period $ 501 $ 454