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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 556 $ 503
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 82 81
Stock-based compensation 20 17
Deferred income taxes (12) (22)
Amortization of intangible assets 8 33
Unrealized loss (gain) on marketable securities 8 (1)
Pension plan settlement loss 4 0
Technology-related investments loss (gain) 1 (3)
Other 4 4
Changes in assets and liabilities:    
Accounts receivable (36) (12)
Inventories (50) (60)
Accounts payable 36 34
Other assets and liabilities (31) (28)
Net cash provided by operating activities 590 546
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions of long-lived assets (68) (73)
Investment in equity method investee (4) 0
Proceeds from sale of assets 4 0
Investment in equities without a readily determinable fair value (2) 0
Proceeds from technology-related investments 0 2
Net cash used for investing activities (70) (71)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchases of common stock (133) (157)
Payments on long-term debt (103) (5)
Dividend payments (66) (63)
Proceeds from exercise of stock options 28 27
Taxes paid related to net share settlement of equity awards (9) (7)
Debt financing fees (4) 0
Net cash used for financing activities (287) (205)
Effect of exchange rate changes on cash 0 (1)
Net increase in cash and cash equivalents 233 269
Cash and cash equivalents at beginning of period 555 232
Cash and cash equivalents at end of period 788 501
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Income taxes paid (150) (164)
Interest paid (91) (95)
Interest received from interest rate swaps 10 8
Non-cash investing activities:    
Capital expenditures in liabilities $ 30 $ 19