XML 16 R5.htm IDEA: XBRL DOCUMENT v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Condensed) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 206 $ 227
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 118 110
Debt extinguishment costs 3 0
Restructuring and other, net 2 (2)
Pension and postretirement expense 10 10
Pension contributions (5) 25
Stock-based compensation 13 14
Working capital changes and other (401) (370)
Net cash (used for) / provided by operating activities (54) 14
Cash flows from investing activities    
Capital expenditures (87) (33)
Net investment hedge 12 13
Settlement of net investment hedge (45) 0
Proceeds from sale of property, plant and equipment 23 21
Net cash (used for) / provided by investing activities (97) 1
Cash flows from financing activities    
Net change in revolving credit facility and short-term debt 251 1
Proceeds from short-term debt 26 177
Payments of short-term debt (58) (43)
Proceeds from long-term debt 141 0
Payments of long-term debt (14) (27)
Debt issuance costs (11) 0
Dividends paid to noncontrolling interests (17) (28)
Dividends paid to shareholders (39) (30)
Common stock repurchased (212) (203)
Payments from financed assets (96) 0
Net cash used for financing activities (29) (153)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (4) 1
Net change in cash, cash equivalents, and restricted cash (184) (137)
Cash, cash equivalents, and restricted cash at January 1 879 1,016
Cash, cash equivalents, and restricted cash at March 31 $ 695 $ 879