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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income (loss) $ 968 $ (104)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Loss (gain) on debt extinguishment (8) 0
Depreciation and amortization 237 461
Stock-based compensation expense 39 98
Deferred income taxes 11 201
Gain on terminated interest rate derivative agreements 0 (103)
Impairment of other assets 5 7
Loss (gain) on disposal of property, plant and equipment and other assets 0 (2)
Loss (gain) on divestiture (1,560) (10)
Changes in assets and liabilities, net of effects of business acquired:    
Receivables 49 132
Inventories 37 (12)
Current payables and accrued expenses (41) 17
Contract liabilities 38 (6)
Employee benefit plans (8) (10)
Other assets and liabilities 271 58
Net cash provided by (used in) operating activities 38 727
Investing activities    
Expenditures for property, plant and equipment (23) (112)
Proceeds from sale of property, plant and equipment and other assets 0 8
Additions to capitalized software (155) (194)
Business acquisitions, net of cash acquired 0 (7)
Proceeds from divestiture, net 2,458 10
Proceeds from disposition of corporate-owned life insurance policies 30 0
Termination of trade receivable facility (300) 0
Collections on purchased trade receivables 7 0
Purchases of investments 0 (10)
Net cash provided by (used in) investing activities 2,017 (305)
Financing activities    
Payments on term credit facilities (200) (77)
Payments on revolving credit facilities (693) (2,044)
Payments of senior unsecured notes (1,177) 0
Borrowings on term credit facilities 0 726
Borrowings on revolving credit facilities 595 1,959
Proceeds from issuance of senior unsecured notes 0 1,333
Payments on other financing arrangements 0 (2)
Cash dividend paid for Series A preferred shares dividends (12) (11)
Proceeds from employee stock plans 10 23
Tax withholding payments on behalf of employees (12) (16)
Principal payments for finance lease obligations (7) (12)
Net cash provided by (used in) financing activities (1,496) 1,879
Effect of exchange rate changes on cash, cash equivalents and restricted cash (19) (28)
Increase (decrease) in cash, cash equivalents, and restricted cash 540 2,273
Cash, cash equivalents and restricted cash at beginning of period 285 740
Cash, cash equivalents and restricted cash at end of period $ 825 $ 3,013