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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 246 $ (40)
Adjustments to reconcile to net cash (used in) provided by operating activities    
Depreciation and amortization 303 242
Deferred income taxes (65) (86)
Stock-based compensation 9 11
Pension contributions (8) (9)
Amortization of inventory step-up 0 182
Changes in assets and liabilities, net of acquisitions:    
Trade receivables (272) (175)
Inventories (311) (64)
Accounts payable 178 250
Accruals for incentive compensation (101) (22)
Other current payables and accrued expenses 39 48
Other assets/liabilities, net (22) 21
Net cash (used in) provided by operating activities (4) 358
Cash flows from investing activities:    
Additions to property, plant and equipment (132) (93)
Additions to intangible assets (2) 0
Proceeds from disposal of assets 2 1
Cash acquired 11 207
Net cash (used in) provided by investing activities (121) 115
Cash flows from financing activities:    
Cash dividends paid to shareholders (201) (82)
Increase (decrease) in revolving credit facility and short-term borrowings 1 (104)
Proceeds from issuance of commercial paper (maturities after three months) 155 0
Repayments of commercial paper (maturities after three months) (75) 0
Net borrowings of commercial paper (maturities less than three months) 227 0
Repayments of long-term debt 0 (12)
Contingent consideration paid 0 (14)
Purchases of noncontrolling interest (6) 0
Proceeds from issuance of stock in connection with stock options 7 3
Employee withholding taxes paid (13) (6)
Net cash provided by (used in) financing activities 95 (215)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (24) (37)
Net change in cash, cash equivalents and restricted cash (54) 221
Cash, cash equivalents and restricted cash at beginning of year 716 660
Cash, cash equivalents and restricted cash at end of period 662 881
Supplemental Disclosures:    
Interest paid, net of amounts capitalized 45 42
Income taxes paid 78 36
Accrued capital expenditures $ 64 $ 21