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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities:    
Net earnings $ 676 $ 351
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 228 221
Deferred income taxes (12) (26)
Stock-based compensation expense 11 10
Unrealized net (gain) loss on natural gas derivatives (3) 2
Loss on disposal of property, plant and equipment 2 1
Litigation settlement gain (170) 0
Insurance recoveries (25) 0
Loss on sale of Ince facility 0 23
Undistributed earnings of affiliate—net of taxes (6) (4)
Changes in assets and liabilities:    
Accounts receivable—net (239) (177)
Inventories 2 (43)
Accrued and prepaid income taxes 144 89
Accounts payable and accrued expenses (75) 16
Customer advances 55 123
Other—net (92) 0
Net cash provided by operating activities 496 586
Investing Activities:    
Additions to property, plant and equipment (223) (132)
Proceeds from sale of property, plant and equipment 0 2
Proceeds from sale of Ince facility 0 4
Purchase of emission credits (2) 0
Net cash used in investing activities (225) (126)
Financing Activities:    
Dividends paid on common stock (78) (86)
Contributions from noncontrolling interests 117 0
Distributions to noncontrolling interests (201) (129)
Purchases of treasury stock (28) (444)
Proceeds from issuances of common stock under employee stock plans 1 1
Cash paid for shares withheld for taxes (10) (13)
Net cash used in financing activities (199) (671)
Effect of exchange rate changes on cash and cash equivalents (12) 3
Increase (decrease) in cash and cash equivalents 60 (208)
Cash and cash equivalents at beginning of period 1,982 1,614
Cash and cash equivalents at end of period $ 2,042 $ 1,406