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Statement of Consolidated Cash Flows (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 243 $ 148
Adjustments to reconcile net income to cash provided from operations:    
Depreciation and amortization 67 69
Deferred income taxes 32 31
Restructuring and other charges 0 1
Net realized and unrealized losses 7 4
Net periodic pension cost (E) 10 9
Stock-based compensation 15 14
Loss on debt redemption (N) 0 1
Other 1 5
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign currency translation adjustments:    
Increase in receivables (J) (127) (137)
Increase in inventories (31) (45)
Decrease in prepaid expenses and other current assets 23 12
Increase (decrease) in accounts payable, trade 22 (67)
Decrease in accrued expenses (87) (19)
Increase in taxes, including income taxes 15 16
Pension contributions (2) (9)
(Increase) decrease in noncurrent assets (2) 2
Decrease in noncurrent liabilities (9) (12)
Cash provided from operations 177 23
Financing Activities    
Repurchases and payments on debt (N) 0 (176)
Premiums paid on early redemption of debt (N) 0 (1)
Repurchases of common stock (150) (25)
Proceeds from exercise of employee stock options 5 6
Dividends paid to shareholders (21) (17)
Taxes paid for net share settlement of equity awards (12) (1)
Cash used for financing activities (178) (214)
Investing Activities    
Capital expenditures (C) (82) (64)
Proceeds from the sale of assets and businesses (D) 7 0
Cash used for investing activities (75) (64)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0 1
Net change in cash, cash equivalents and restricted cash (76) (254)
Cash, cash equivalents and restricted cash at beginning of period 610 792
Cash, cash equivalents and restricted cash at end of period $ 534 $ 538