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CONSOLIDATED STATEMENTS OF CASH FLOWS (Condensed) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income (loss) $ 168 $ 509
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 344 372
Restructuring and other, net 27 32
Pension and postretirement expense 564 54
Pension contributions (122) (10)
Stock-based compensation 32 27
Equity earnings, net of distributions 2 9
Working capital changes and other (118) (161)
Net cash provided by operating activities 897 832
Cash flows from investing activities    
Capital expenditures (254) (614)
Net investment hedge 25 25
Proceeds from sale of property, plant and equipment 21 5
Distribution from equity method investment 0 56
Other 0 8
Net cash used for investing activities (208) (520)
Cash flows from financing activities    
Net change in revolving credit facility and short-term debt 3 (393)
Proceeds from short-term debt 156 127
Payments of short-term debt (81) (96)
Proceeds from long-term debt 675 558
Payments of long-term debt (750) (80)
Debt issuance costs (10) (8)
Dividends paid to noncontrolling interests (45) (44)
Dividends paid to shareholders (90) (86)
Common stock repurchased (117) (12)
Other (1) (1)
Net cash used for financing activities (260) (35)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 4 (14)
Net change in cash, cash equivalents and restricted cash 433 263
Cash, cash equivalents and restricted cash at January 1 1,400 639
Cash, cash equivalents and restricted cash at September 30 $ 1,833 $ 902