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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net earnings (loss) $ 504 $ 323
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities    
Asset impairments 0 1
Depreciation, amortization and accretion 106 91
Pension and postretirement net periodic benefit cost (21) (34)
Pension and postretirement contributions (12) (12)
Deferred income taxes, net 4 11
(Gain) loss on disposition of businesses and assets, net 3 5
Stock-based compensation 15 12
Undistributed earnings in unconsolidated affiliates (30) 6
Other, net 3 3
Operating cash provided by (used in) discontinued operations (4) (1)
Changes in operating assets and liabilities    
Trade receivables - third party and affiliates, net (240) (184)
Inventories (32) (62)
Other assets 0 (103)
Trade payables - third party and affiliates 49 156
Other liabilities (29) (96)
Net cash provided by (used in) operating activities 316 116
Investing Activities    
Capital expenditures on property, plant and equipment (137) (92)
Proceeds from sale of marketable securities 0 200
Other, net (12) (10)
Net cash provided by (used in) investing activities (149) 98
Financing Activities    
Net change in short-term borrowings with maturities of 3 months or less 74 2
Repayments of long-term debt (7) (7)
Purchases of treasury stock, including related fees (17) (267)
Common stock dividends (73) (78)
Distributions to noncontrolling interests (4) (5)
Issuance cost of bridge facility (44) 0
Other, net (24) (16)
Net cash provided by (used in) financing activities (95) (371)
Exchange rate effects on cash and cash equivalents (3) (7)
Net increase (decrease) in cash and cash equivalents 69 (164)
Cash and cash equivalents as of beginning of period 536 955
Cash and cash equivalents as of end of period $ 605 $ 791