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CONSOLIDATED STATEMENTS OF CASH FLOWS (Condensed) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 227 $ 93
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 110 115
Restructuring and other, net (2) 23
Pension and postretirement expense 10 16
Pension contributions 25 4
Stock-based compensation 14 12
Working capital changes and other (370) (365)
Net cash provided by / (used for) operating activities 14 (102)
Cash flows from investing activities    
Capital expenditures (33) (94)
Net investment hedge 13 13
Proceeds from sale of property, plant and equipment 21 0
Net cash provided by / (used for) investing activities 1 (81)
Cash flows from financing activities    
Net change in revolving credit facility and short-term debt 1 0
Proceeds from short-term debt 177 80
Payments of short-term debt (43) (8)
Proceeds from long-term debt 0 20
Payments of long-term debt (27) (32)
Dividends paid to noncontrolling interests (28) (15)
Dividends paid to shareholders (30) (30)
Common stock repurchased (203) (5)
Other 0 (1)
Net cash provided by / (used for) financing activities (153) 9
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1 (8)
Net change in cash, cash equivalents and restricted cash (137) (182)
Cash, cash equivalents and restricted cash at January 1 1,016 1,400
Cash, cash equivalents and restricted cash at March 31 $ 879 $ 1,218