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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:      
Net income $ 592 $ 648 $ 1,386
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 1,229 1,247 1,329
Amortization of purchased intangibles 121 122 123
Loss on disposal of assets, net 143 155 189
Share-based compensation expense 273 218 175
Translation gain on Japanese yen-denominated debt (104) (100) (191)
Deferred tax benefit (33) (75) (46)
Translated earnings contract gain (83) (161) (351)
Release of cumulative translation losses 145
Tax deposit refund 99
Changes in assets and liabilities:      
Trade accounts receivable (717) 50 113
Inventories (171) 157 (522)
Other current assets (107) (80) (139)
Accounts payable and other current liabilities 470 (173) 408
Customer deposits and government incentives (6) (42) 110
Deferred income (27) (5) (49)
Other, net 214 (55) 80
Net cash provided by operating activities 1,939 2,005 2,615
Cash Flows from Investing Activities:      
Capital expenditures (965) (1,390) (1,604)
Proceeds from sale of equipment to related party 67
Proceeds from sale of business 76
Proceeds from sale of assets 80 22
Realized gains on translated earnings contracts and other 279 326 300
Premiums paid on hedging contracts (98) (9) (75)
Other, net (40) (16) (52)
Net cash used in investing activities (744) (1,000) (1,355)
Cash Flows from Financing Activities:      
Repayments of debt (267) (284) (87)
Proceeds from issuance of debt 153 82 127
Proceeds from issuance of euro bonds 918
Proceeds from cross currency swap 134
Payment for redemption of preferred stock (507) (507)
Payments of employee withholding tax on stock awards (81) (106) (47)
Proceeds from exercise of stock options 76 42 40
Purchases of common stock for treasury (165) (221)
Dividends paid (986) (989) (932)
Other, net (28) (39) (22)
Net cash used in financing activities (1,164) (883) (1,649)
Effect of exchange rates on cash (42) (14) (88)
Net (decrease) increase in cash and cash equivalents (11) 108 (477)
Cash and cash equivalents at beginning of year 1,779 1,671 2,148
Cash and cash equivalents at end of year $ 1,768 $ 1,779 $ 1,671