XML 20 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 121 $ 125
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 83 77
Provision for inventory losses   4
Deferred income taxes 25 (2)
Equity income in unconsolidated affiliates (29) (48)
Stock-based compensation 19 15
Other, net 14 (2)
Change in operating assets and liabilities, net of acquisitions:    
Receivables 69 (39)
Inventories (20) (221)
Contract assets (75) 48
Prepaid and other current assets (32) (10)
Accounts payable (105) 53
Accrued liabilities (144) (201)
Contract liabilities   (1)
Income taxes payable (16) (7)
Other assets/liabilities, net 12 7
Net cash used in operating activities (78) (202)
Cash flows from investing activities:    
Purchases of property, plant and equipment (69) (57)
Business acquisitions, net of cash acquired (243)  
Other 1 5
Net cash used in investing activities (311) (52)
Cash flows from financing activities:    
Borrowings against lines of credit and other debt 83 1
Cash dividends paid (20) (20)
Financing leases (6) (6)
Other (14) (16)
Net cash provided by (used in) financing activities 43 (41)
Effect of exchange rates on cash (2)  
Decrease in cash and cash equivalents (348) (295)
Cash and cash equivalents, beginning of period 816 1,069
Cash and cash equivalents, end of period 468 774
Cash payments during the period for:    
Interest 6 4
Income taxes $ 28 $ 20