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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net earnings (loss) $ 93 $ 504
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities    
Depreciation, amortization and accretion 178 106
Pension and postretirement net periodic benefit cost 3 (21)
Pension and postretirement contributions (12) (12)
Deferred income taxes, net 1 4
(Gain) loss on disposition of businesses and assets, net (6) 3
Stock-based compensation 14 15
Undistributed earnings in unconsolidated affiliates 25 (30)
Other, net (1) 3
Operating cash provided by (used in) discontinued operations 1 (4)
Changes in operating assets and liabilities    
Trade receivables - third party and affiliates, net (216) (240)
Inventories 45 (32)
Other assets 99 0
Trade payables - third party and affiliates (22) 49
Other liabilities (298) (29)
Net cash provided by (used in) operating activities (96) 316
Investing Activities    
Capital expenditures on property, plant and equipment (164) (137)
Proceeds from sale of businesses and assets, net 9 0
Other, net (23) (12)
Net cash provided by (used in) investing activities (178) (149)
Financing Activities    
Net change in short-term borrowings with maturities of 3 months or less (300) 74
Proceeds from short-term borrowings 338 0
Repayments of long-term debt (7) (7)
Purchases of treasury stock, including related fees 0 (17)
Common stock dividends (76) (73)
Distributions to noncontrolling interests (1) (4)
Issuance cost of bridge facility 0 (44)
Other, net (23) (24)
Net cash provided by (used in) financing activities (69) (95)
Exchange rate effects on cash and cash equivalents 2 (3)
Net increase (decrease) in cash and cash equivalents (341) 69
Cash and cash equivalents as of beginning of period 1,508 536
Cash and cash equivalents as of end of period $ 1,167 $ 605