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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net (loss) income $ (1,841) $ 333 $ 551
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 397 216 104
Amortization of inventory step-up to fair value 0 52 0
Goodwill and intangible asset impairments 1,902 0 0
Unrealized loss (gain) on derivatives not designated as hedging instruments 32 13 (4)
Amortization of debt issuance costs and original issue discount 33 56 2
Loss on extinguishment of debt 8 0 0
Gain on sale of long-lived assets (2) (7) 0
Stock-based compensation 54 45 37
Provision for excess and obsolete inventory 64 21 16
Deferred income taxes (234) (46) 2
Other 5 3 4
Changes in operating assets and liabilities, net of acquired assets and liabilities:      
Trade accounts receivable 114 (4) (53)
Inventories (76) (236) (92)
Other current and non-current assets 50 28 0
Accounts payable (99) 61 56
Current and non-current accrued compensation (5) (31) 17
Income taxes payable (64) 19 1
Other current and non-current liabilities (19) 6 (1)
Net cash provided by operating activities 319 529 640
Cash flows from investing activities:      
Acquisitions of businesses, net of cash acquired 0 (4,473) (268)
Purchases of investments 0 (1) (497)
Maturities of investments 0 77 478
Sales of investments 0 0 169
Proceeds from sale of long-lived assets 3 9 0
Purchases of property, plant and equipment (87) (164) (87)
Net cash used in investing activities (84) (4,552) (205)
Cash flows from financing activities:      
Proceeds from borrowing 216 5,237 1
Payments of borrowings (403) (962) (15)
Payments of deferred financing fees (9) (249) 0
Dividend payments (59) (52) (47)
Net payments related to employee stock awards (1) (1) (4)
Other financing activities (3) (2) 0
Net cash (used in) provided by financing activities (259) 3,971 (65)
Effect of exchange rate changes on cash and cash equivalents (10) (5) (12)
(Decrease) increase in cash and cash equivalents (34) (57) 358
Cash and cash equivalents at beginning of period 909 966 608
Cash and cash equivalents at end of period 875 909 966
Cash paid during the period for:      
Interest 305 110 23
Income taxes $ 180 $ 133 $ 110