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Unaudited Interim Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating Activities    
Net earnings (loss) $ (1,173) $ 388
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities    
Asset impairments [1] 1,486 39
Depreciation, amortization and accretion 585 634
Pension and postretirement net periodic benefit cost 5 4
Pension and postretirement contributions (38) (39)
Deferred income taxes, net (118) 12
(Gain) loss on disposition of businesses and assets, net (3) (11)
Stock-based compensation 19 23
Undistributed earnings in unconsolidated affiliates 3 (33)
Other, net 40 13
Operating cash provided by (used in) discontinued operations 6 (6)
Changes in operating assets and liabilities    
Trade receivables - third party and affiliates, net 96 (109)
Inventories 158 (177)
Other assets 131 59
Trade payables - third party and affiliates 3 (33)
Other liabilities (312) (314)
Net cash provided by (used in) operating activities 894 472
Investing Activities    
Capital expenditures on property, plant and equipment (259) (330)
Proceeds from sale of businesses and assets, net (7) 0
Settlement of cross-currency swap agreement 0 17
Other, net 7 (29)
Net cash provided by (used in) investing activities (245) (342)
Financing Activities    
Net change in short-term borrowings with maturities of 3 months or less 3 133
Proceeds from short-term borrowings 606 160
Repayments of short-term borrowings (555) (418)
Proceeds from long-term debt 2,926 299
Repayments of long-term debt (3,060) (1,019)
Stock option exercises 0 1
Common stock dividends (9) (230)
Distributions/dividends to noncontrolling interests (22) (25)
Other, net (78) (25)
Net cash provided by (used in) financing activities (189) (1,124)
Exchange rate effects on cash and cash equivalents 18 2
Net increase (decrease) in cash and cash equivalents 478 (992)
Cash and cash equivalents as of beginning of period 962 1,805
Cash and cash equivalents as of end of period $ 1,440 $ 813
[1] Primarily related to non-cash impairment losses on goodwill and certain trade names, primarily Zytel® during the three and nine months ended September 30, 2025 (Note 5) and on certain trade names, primarily Zytel® during the three and nine months ended September 30, 2024.