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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income (loss) $ 61 $ 16
Less: Net income from discontinued operations 90 142
Net loss from continuing operations (29) (126)
Depreciation 171 170
Amortization 6 7
Amortization of deferred financing charges 3 3
Earnings of affiliates, net of dividends received (25) (3)
Stock compensation expense 23 14
Deferred income taxes (26) 29
Change in working capital (202) (181)
Change in other noncurrent assets and liabilities (13) 2
Loss on disposal group previously held for sale 30
Loss on divestiture of ownership interests 7
Other, net 54 (13)
Net cash used in operating activities from continuing operations (31) (68)
Net cash provided by operating activities from discontinued operations 26 181
Net cash provided by (used in) operating activities (5) 113
Investing activities    
Purchases of property, plant and equipment (104) (161)
Proceeds from sale of property, plant and equipment 11
Proceeds from sale of investments 57
Settlements of undesignated derivatives (6) (4)
Other, net 4 4
Net cash used in investing activities from continuing operations (38) (161)
Net cash used in investing activities from discontinued operations (22) (16)
Net cash used in investing activities (60) (177)
Financing activities    
Net change in short-term debt 522 (4)
Repayment of long-term debt (210) (30)
Dividends paid to common stockholders (29) (29)
Repurchases of common stock (257)
Distributions to noncontrolling interests (3) (5)
Collection of note receivable from noncontrolling interest 11
Contributions from redeemable noncontrolling interests 18
Swap settlements (14)
Other, net (8) 9
Net cash provided by (used in) financing activities 1 (30)
Net decrease in cash, cash equivalents and restricted cash (64) (94)
Cash, cash equivalents and restricted cash – beginning of period 512 563
Effect of exchange rate changes on cash balances 53 (29)
Cash, cash equivalents and restricted cash – end of period (Note 6) 501 440
Non-cash investing activity    
Purchases of property, plant and equipment held in accounts payable $ 29 $ 27