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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:    
Net income (loss) $ (307) $ 266
Adjustments to Reconcile Net Income (Loss) to Cash Flows from Operating Activities:    
Depreciation and Amortization 506 481
Amortization and Write-Off of Debt Issuance Costs 7 8
Provision for Deferred Income Taxes (Note 5) (108) 42
Net Pension Curtailments and Settlements 36 18
Net Rationalization Charges (Note 3) 104 37
Rationalization Payments (50) (59)
Net (Gains) Losses on Asset Sales (Note 4) (62) (98)
Operating Lease Expense 148 150
Operating Lease Payments (139) (139)
Pension Contributions and Direct Payments (38) (33)
Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:    
Accounts Receivable (375) (1,024)
Inventories 229 (890)
Accounts Payable — Trade (404) 672
Compensation and Benefits 0 (44)
Other Current Liabilities 104 21
Other Assets and Liabilities (85) 59
Total Cash Flows from Operating Activities (434) (533)
Cash Flows from Investing Activities:    
Capital Expenditures (536) (511)
Cash Proceeds from Sale and Leaseback Transaction (Note 4) 66 108
Asset Dispositions 3 24
Short Term Securities Acquired (102) (41)
Short Term Securities Redeemed 2 44
Notes Receivable (65) (24)
Other Transactions (13) (3)
Total Cash Flows from Investing Activities (645) (403)
Cash Flows from Financing Activities:    
Short Term Debt and Overdrafts Incurred 583 723
Short Term Debt and Overdrafts Paid (439) (579)
Long Term Debt Incurred 4,758 5,312
Long Term Debt Paid (4,020) (4,327)
Common Stock Issued (2) (5)
Transactions with Minority Interests in Subsidiaries (2) (1)
Debt Related Costs and Other Transactions (2) 9
Total Cash Flows from Financing Activities 876 1,132
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash 4 (33)
Net Change in Cash, Cash Equivalents and Restricted Cash (199) 163
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period 1,311 1,164
Cash, Cash Equivalents and Restricted Cash at End of the Period $ 1,112 $ 1,327