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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 178 $ 1,083 $ 1,373
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 119 132 119
Impairment of long-lived assets 30 1 6
Gain on Acquisition (7) (157) 0
Pension loss due to settlement 4 82 2
Loss on early debt extinguishment 0 0 11
Deferred taxes 44 1 7
Foreign currency remeasurement and transaction (gains) losses 50 (2) 2
Other adjustments, net 26 35 9
Receivables (8) 22 (14)
Inventories (46) (66) (71)
Prepaid expenses and other current assets (1) (7) 0
Accounts payable and accrued liabilities (40) 15 46
Income taxes payable, net of receivables (33) 6 (5)
Net cash provided by operating activities 316 1,144 1,484
CASH FLOWS FROM INVESTING ACTIVITIES:      
Property, plant, and equipment additions (300) (414) (254)
Proceeds from divestiture of businesses (80) 0 0
Cash Surrender Value of Life Insurance 0 268 0
Proceeds from sale of assets 9 0 0
Other investing activities, net (4) 0 5
Net cash provided by (used in) investing activities (376) (146) (247)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of long term debt (80) 0 (359)
Proceeds from Debt, Maturing in More than Three Months 80 0 350
Payment of cash dividends (69) (69) (66)
Purchase of stock 0 (900) (1,300)
Other financing activities (8) (13) (13)
Net cash used in financing activities (77) (982) (1,388)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations (24) (5) (14)
Net increase (decrease) in cash, cash equivalents, and restricted cash (161) 12 (164)
Cash, cash equivalents, and restricted cash at beginning of period 383 371 535
Cash, cash equivalents, and restricted cash at end of period 222 383 371
Supplemental Cash Flow Information [Abstract]      
Cash paid for income taxes, net (65) (320) (421)
Cash paid for interest, net (15) (14) (16)
Unpaid capital expenditures $ 15 $ 48 $ 46