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Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows - operating activities    
Net income $ 383 $ 402
Adjustments to reconcile Net income to Cash from (used for) operating activities    
Depreciation and amortization of property, plant, and equipment 61 56
Amortization of acquisition-related intangible assets 96 103
Net periodic postretirement benefit plan (income) expense (101) 3
Postretirement plan contributions (91) (6)
Provision for income taxes 163 131
Share-based compensation 24 19
Cash paid during the year for income taxes (102) (203)
Cash paid during the year for interest (42) 0
Changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions:    
Receivables (22) (139)
Due from related parties 5 (5)
Inventories (122) (244)
Contract and other deferred assets 12 (34)
Accounts payable 87 319
Due to related parties 6 16
Contract liabilities 119 77
All other operating activities (8) (27)
Cash from (used for) operating activities 468 468
Cash flows – investing activities    
Additions to property, plant, and equipment (143) (100)
Dispositions of property, plant, and equipment 0 3
Purchases of businesses, net of cash acquired (127) 0
All other investing activities 4 (3)
Cash from (used for) investing activities (266) (100)
Cash flows – financing activities    
Net increase (decrease) in borrowings (maturities of 90 days or less) (9) 2
Newly issued debt, net of debt issuance costs (maturities longer than 90 days) 2,000 0
Repayments and other reductions (maturities longer than 90 days) (6) (1)
Net transfers (to) from GE (1,317) (391)
All other financing activities 5 (30)
Cash from (used for) financing activities 673 (420)
Effect of foreign currency rate changes on cash, cash equivalents, and restricted cash 8 (3)
Increase (decrease) in cash, cash equivalents, and restricted cash 883 (55)
Cash, cash equivalents, and restricted cash at beginning of year 1,451 561
Cash, cash equivalents, and restricted cash as of March 31 $ 2,334 $ 506