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CONSOLIDATED AND COMBINED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows – operating activities    
Net income (loss) $ 1,075 $ (680)
Adjustments to reconcile net income (loss) to cash from (used for) operating activities    
Depreciation and amortization of property, plant, and equipment (Note 6) 715 531
Amortization of intangible assets (Note 8) 188 181
(Gains) losses on purchases and sales of business interests (859) (210)
Principal pension plans – net (Note 13) (280) (304)
Other postretirement benefit plans – net (Note 13) (189) (235)
Provision (benefit) for income taxes (Note 15) 310 222
Cash recovered (paid) during the year for income taxes (299) 28
Changes in operating working capital:    
Decrease (increase) in current receivables 28 160
Decrease (increase) in due from related parties (5) 12
Decrease (increase) in inventories, including deferred inventory costs (1,151) (1,051)
Decrease (increase) in current contract assets (234) (68)
Increase (decrease) in accounts payable and equipment project payables 970 (210)
Increase (decrease) in due to related parties (366) 110
Increase (decrease) in contract liabilities and current deferred income 1,660 1,008
All other operating activities 98 (240)
Cash from (used for) operating activities 1,662 (745)
Cash flows – investing activities    
Additions to property, plant, and equipment and internal-use software (533) (464)
Dispositions of property, plant, and equipment 16 54
Purchases of and contributions to equity method investments (110) (77)
Sales of and distributions from equity method investments 32 220
Proceeds from principal business dispositions 639 0
All other investing activities 94 (209)
Cash from (used for) investing activities 138 (477)
Cash flows – financing activities    
Net increase (decrease) in borrowings of maturities of 90 days or less (23) 30
Transfers from (to) Parent 2,933 681
All other financing activities 579 (54)
Cash from (used for) financing activities 3,489 656
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash (48) (22)
Increase (decrease) in cash, cash equivalents, and restricted cash, including cash classified within businesses held for sale 5,241 (587)
Less: Net increase (decrease) in cash classified within businesses held for sale (603) (7)
Increase (decrease) in cash, cash equivalents, and restricted cash 5,844 (581)
Cash, cash equivalents, and restricted cash at beginning of year 1,551 2,067
Cash, cash equivalents, and restricted cash as of September 30 $ 7,395 $ 1,486