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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities    
Net income $ 268 $ 322
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 273 297
Gain on divestiture of property (80) 0
Deferred income taxes (29) 5
Other, net (15) (8)
Net change in operating assets and liabilities (168) (179)
Net cash provided by operating activities 251 437
Investing activities    
Expenditures for property, plant and equipment (418) (303)
Proceeds from sale of property, plant and equipment 98 3
Net cash used in investing activities (319) (301)
Financing activities    
Net decrease in short-term debt (110) (278)
Decrease in long-term debt (51) (1)
Dividends paid (167) (109)
Dividends paid to non-controlling interest (1) (1)
Stock repurchased (60) 0
Common stock options exercised 0 2
Net cash used in financing activities (389) (386)
Effect of exchange rate changes on cash and cash equivalents (28) (25)
(Decrease) increase in cash and cash equivalents (486) (275)
Cash and cash equivalents at beginning of period 969 1,178
Cash and cash equivalents at end of period $ 483 $ 903