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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating Activities      
Net (loss) income $ (130) $ 804 $ 629
Less: Income from discontinued operations 448 936 740
Income from continuing operations (578) (132) (111)
Adjustments to loss from continuing operations      
Depreciation and amortization 74 66 65
Stock-based compensation 12 10 18
Restructuring and asset impairment charges, net 5 3 43
Asbestos-related cost, net 100 385 238
Transformation costs 396 0 0
Deferred income taxes 303 (111) (122)
Restructuring payments (7) (27) (30)
Asbestos related payments (21) 0 (7)
Transformation-related payments (355) 0 0
Contributions to pension plans (30) (14) (7)
Changes in assets and liabilities (net of acquisitions):      
Change in receivables (74) 1 5
Change in inventories (38) (41) (7)
Change in accounts payable 4 83 (18)
Change in accrued expenses 38 (29) 30
Change in accrued income taxes (99) (259) 95
Other, net (53) (12) 69
Net Cash - Operating activities (323) (77) 261
Investing Activities      
Capital expenditures (103) (127) (92)
Acquisitions, net of cash acquired (16) (10) 0
Proceeds from sale of discontinued operations and other assets 11 1 6
Other, net 1 0 0
Net Cash - Investing activities (107) (136) (86)
Financing Activities      
Short-term debt, net 3 (56) (1,607)
Long-term debt repaid (1,319) (79) (29)
Long-term debt issued 0 0 992
Proceeds from issuance of common stock 53 28 15
Tax benefit from share-based compensation 7 6 3
Dividends paid (193) (176) (148)
Contribution from Exelis and Xylem, net 1,586 0 0
Distributions to discontinued operations 1,065 727 277
Net Cash - Financing activities 1,202 450 (497)
Exchange rate effects on cash and cash equivalents (9) (22) 34
Discontinued operations:      
Operating activities 500 1,053 1,011
Investing activities (467) (984) (202)
Financing activities (319) (269) (543)
Exchange rate effects on cash and cash equivalents 7 4 6
Net cash - Discontinued operations (279) (196) 272
Net change in cash and cash equivalents 484 19 (16)
Cash and cash equivalents - beginning of year 206 187 203
Cash and Cash Equivalents - End of year 690 206 187
Cash paid during the year for:      
Interest 80 92 90
Income taxes (net of refunds received) $ 140 $ 343 $ 172