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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income $ 425 $ 437 $ 188
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 363 394 371
Gain on divestiture of property (80)
Deferred income taxes (40) (20) (24)
Loss from equity method investments, net of dividends (1) (3) 0
Other, net (13) 8 37
Net change in operating working capital:      
Receivables and other assets, gross (297) 283 (415)
Inventories, gross (243) (19) (34)
Accounts payable and accrued expenses 596 (314) 672
Income taxes 2 (12) 54
Net cash provided by operating activities 713 754 849
Investing activities      
Expenditures for property, plant and equipment (585) (458) (344)
Proceeds from sale of property, plant and equipment 101 4 4
Net cash used in investing activities (485) (454) (340)
Financing activities      
Repayment of short-term part of long-term debt (302) (275) (235)
Net decrease in short-term debt 167 (11) (5)
Proceeds from long-term debt 0 0 1,177
Repayment of long-term debt (55) (20) (723)
Dividends paid to non-controlling interest (2) (1) (1)
Dividents paid (224) (165) (54)
Stock repurchases (115)
Common stock options exercised 0 3 1
Net cash (used in) provided by financing activities (531) (469) 160
Effect of exchange rate changes on cash and cash equivalents (73) (39) 64
(Decrease) increase in cash and cash equivalents (375) (209) 734
Cash and cash equivalents at beginning of year 969 1,178 445
Cash and cash equivalents at end of year $ 594 $ 969 $ 1,178