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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 333 $ 551 $ 350
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 216 104 99
Unrealized loss (gain) on derivatives not designated as hedging instruments 13 (4) 0
Amortization of inventory step-up adjustment to fair value 52 0 0
Amortization of debt issuance costs and original issue discount 56 2 3
Gain on sale of long-lived assets (7) 0 0
Stock-based compensation 45 37 30
Provision for excess and obsolete inventory 21 16 25
Deferred income taxes (46) 2 (7)
Other 3 4 3
Changes in operating assets and liabilities, net of businesses acquired:      
Trade accounts receivable (4) (53) (45)
Inventories (236) (92) (52)
Other current and non-current assets 28 0 41
Accounts payable 61 56 21
Current and non-current accrued compensation (31) 17 19
Income taxes payable 19 1 21
Other current and non-current liabilities 6 (1) 5
Net cash provided by operating activities 529 640 513
Cash flows from investing activities:      
Acquisitions of businesses, net of cash acquired (4,473) (268) 0
Purchases of investments (1) (497) (522)
Maturities of investments 77 478 332
Sales of investments 0 169 73
Proceeds from sale of long-lived assets 9 0 0
Purchases of property, plant and equipment (164) (87) (85)
Net cash used in investing activities (4,552) (205) (202)
Cash flows from financing activities:      
Proceeds from borrowing, net of deferred financing fees paid 4,988 1 27
Payments of short and long-term borrowings (962) (15) (84)
Payments of finance leases (2) 0 0
Dividend payments (52) (47) (44)
Net payments related to employee stock awards (1) (4) (21)
Net cash provided by (used in) financing activities 3,971 (65) (122)
Effect of exchange rate changes on cash and cash equivalents (5) (12) 4
(Decrease) increase in cash and cash equivalents (57) 358 193
Cash and cash equivalents at beginning of period 966 608 415
Cash and cash equivalents at end of period 909 966 608
Cash paid during the period for:      
Interest 110 23 26
Income taxes $ 133 $ 110 $ 66