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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net income $ 277 $ 173
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation and amortization 123 123
Stock-based compensation expense 12 10
Below market intangible amortization (11) (12)
Net loss on disposal of property, plant and equipment 2 3
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable and unbilled accounts receivable 121 (51)
Inventories (85) (188)
Accounts payable 45 47
Accrued income taxes 46 (25)
Accrued liabilities and customer deposits (141) (79)
Other assets and liabilities (55) (26)
Net cash provided by (used for) operating activities 334 (25)
Investing Activities    
Purchase of property, plant and equipment (31) (32)
Proceeds from disposal of property, plant and equipment 12 0
Net cash used for investing activities (19) (32)
Financing Activities    
Proceeds from debt, net of issuance costs 967 1,302
Payments of debt (1,025) (1,148)
Repurchase of stock (175) (178)
Cash dividends (36) (31)
Payment of income tax withholding on share-based compensation (23) (14)
Other financing activities 3 (3)
Net cash used for financing activities (289) (72)
Effect of changes in currency exchange rates (7) 5
Increase (decrease) in cash 19 (124)
Cash, cash equivalents and restricted cash, beginning of period 620 541
Cash, cash equivalents and restricted cash, end of period $ 639 $ 417