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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 163 $ 262
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 186 199
Gain on divestiture of property (80) 0
Deferred income taxes 17 3
Other, net (9) (1)
Net change in operating assets and liabilities (257) (214)
Net cash provided by operating activities 19 249
Investing activities    
Expenditures for property, plant and equipment (254) (191)
Proceeds from sale of property, plant and equipment 98 1
Net cash used in investing activities (156) (189)
Financing activities    
Net decrease in short-term debt (277) (291)
Increase in long-term debt 0 14
Decrease in long-term debt (33) 0
Dividends paid (112) (54)
Stock repurchased (40) 0
Common stock options exercised 0 2
Net cash used in financing activities (462) (329)
Effect of exchange rate changes on cash and cash equivalents (43) (16)
(Decrease) increase in cash and cash equivalents (642) (285)
Cash and cash equivalents at beginning of period 969 1,178
Cash and cash equivalents at end of period $ 327 $ 893