XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 489 $ 425 $ 437
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 378 363 394
Gain on divestiture of property 0 (80) 0
Deferred income taxes (109) (40) (20)
Undistributed earnings from equity method investments, net of dividends (1) (1) (3)
Other, net (10) (13) 8
Net change in operating working capital:      
Receivables and other assets, gross (213) (297) 283
Inventories, gross (22) (243) (19)
Accounts payable and accrued expenses 426 596 (314)
Income taxes 43 2 (12)
Net cash provided by operating activities 982 713 754
Investing activities      
Expenditures for property, plant and equipment (573) (585) (458)
Proceeds from sale of property, plant and equipment 4 101 4
Net cash used in investing activities (569) (485) (454)
Financing activities      
Net increase (decrease) in other short-term debt 61 167 (11)
Proceeds from long-term debt 559 0 0
Repayment of long-term debt (533) (357) (295)
Dividents paid (225) (224) (165)
Stock repurchases (352) (115) 0
Common stock options exercised 1 0 3
Dividends paid to non-controlling interest (1) (2) (1)
Net cash used in financing activities (490) (531) (469)
Effect of exchange rate changes on cash and cash equivalents (20) (73) (39)
Decrease in cash and cash equivalents (96) (375) (209)
Cash and cash equivalents at beginning of year 594 969 1,178
Cash and cash equivalents at end of year $ 498 $ 594 $ 969