XML 16 R5.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Condensed) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 93 $ 122
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 115 123
Restructuring and other, net 23 11
Pension and postretirement expense 16 17
Pension contributions 4 1
Stock-based compensation 12 11
Equity earnings, net of distributions 2 27
Working capital changes and other (367) (547)
Net cash used for operating activities (102) (235)
Cash flows from investing activities    
Capital expenditures (94) (233)
Net investment hedge 13 13
Distribution from equity method investment 0 56
Other 0 3
Net cash used for investing activities (81) (161)
Cash flows from financing activities    
Net change in revolving credit facility and short-term debt 0 249
Proceeds from short-term debt 80 82
Payments of short-term debt (8) 0
Proceeds from long-term debt 20 0
Payments of long-term debt (32) (24)
Dividends paid to noncontrolling interests (15) (11)
Dividends paid to shareholders (30) (29)
Common stock repurchased (5) (6)
Other (1) 1
Net cash provided by financing activities 9 262
Effect of exchange rate changes on cash, cash equivalents and restricted cash (8) (3)
Net change in cash, cash equivalents and restricted cash (182) (137)
Cash, cash equivalents and restricted cash at January 1 1,400 639
Cash, cash equivalents and restricted cash at March 31 $ 1,218 $ 502