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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net earnings (loss) $ 314 $ 940
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities    
Depreciation, amortization and accretion 359 213
Pension and postretirement net periodic benefit cost 7 (42)
Pension and postretirement contributions (24) (23)
Deferred income taxes, net (3) 15
(Gain) loss on disposition of businesses and assets, net (4) (8)
Stock-based compensation 32 31
Undistributed earnings in unconsolidated affiliates (15) (10)
Other, net (4) 5
Operating cash provided by (used in) discontinued operations (4) (19)
Changes in operating assets and liabilities    
Trade receivables - third party and affiliates, net (10) (216)
Inventories 220 (251)
Other assets 187 22
Trade payables - third party and affiliates (211) 169
Other liabilities (178) (15)
Net cash provided by (used in) operating activities 666 811
Investing Activities    
Capital expenditures on property, plant and equipment (309) (261)
Acquisitions, net of cash acquired 0 (14)
Proceeds from sale of businesses and assets, net 9 16
Other, net (41) (26)
Net cash provided by (used in) investing activities (341) (285)
Financing Activities    
Net change in short-term borrowings with maturities of 3 months or less (300) 19
Proceeds from short-term borrowings 349 0
Repayments of short-term borrowings (370) 0
Repayments of long-term debt (13) (14)
Purchases of treasury stock, including related fees 0 (17)
Common stock dividends (152) (147)
Distributions to noncontrolling interests (7) (7)
Issuance cost of bridge facility 0 (63)
Other, net (23) (25)
Net cash provided by (used in) financing activities (516) (254)
Exchange rate effects on cash and cash equivalents (21) (25)
Net increase (decrease) in cash and cash equivalents (212) 247
Cash and cash equivalents as of beginning of period 1,508 536
Cash and cash equivalents as of end of period $ 1,296 $ 783