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Statement of Consolidated Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
CASH FROM OPERATIONS          
Net income (loss) $ 350 $ (150) $ 569 $ (11)  
Adjustments to reconcile net income to cash from operations:          
Provision for depreciation, depletion, and amortization 161 152 343 322  
Deferred income taxes     48 (6)  
Equity earnings, net of dividends     (46) 15  
Restructuring and other charges, net (D) 33 37 40 39  
Net gain from investing activities – asset sales (Q)     (124) (176)  
Net periodic pension benefit cost (L)     24 67  
Stock-based compensation     18 17  
Provision for bad debt expense     1 2  
Premium paid on early redemption of debt     25    
Other     28 5  
Changes in assets and liabilities, excluding effects of divestitures and foreign currency translation adjustments:          
(Increase) Decrease in receivables     (270) 124  
(Increase) Decrease in inventories     (184) 184  
Decrease in prepaid expenses and other current assets     58 13  
Increase (Decrease) in accounts payable, trade     32 (183)  
(Decrease) in accrued expenses     (20) (120)  
Increase in taxes, including income taxes     40 7  
Pension contributions (L)     (570) (59)  
(Increase) Decrease in noncurrent assets     (34) 19  
(Decrease) in noncurrent liabilities     (58) (61)  
CASH (USED FOR) PROVIDED FROM OPERATIONS     (80) 198  
FINANCING ACTIVITIES          
Additions to debt (original maturities greater than three months)     495    
Payments on debt (original maturities greater than three months)     (776)    
Proceeds from the exercise of employee stock options     14    
Financial contributions for the divestiture of businesses (D)     (13) (24)  
Contributions from noncontrolling interest       16  
Distributions to noncontrolling interest     (137) (106)  
Other     (4) (1)  
CASH USED FOR FINANCING ACTIVITIES     (421) (115)  
INVESTING ACTIVITIES          
Capital expenditures     (154) (168)  
Proceeds from the sale of assets     705 199  
Additions to investments     (3) (3)  
CASH PROVIDED FROM INVESTING ACTIVITIES     548 28  
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH     (2) (26)  
Net change in cash and cash equivalents and restricted cash     45 85  
Cash and cash equivalents and restricted cash at beginning of year     1,610 883 $ 883
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 1,655 $ 968 $ 1,655 $ 968 $ 1,610