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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net income attributable to controlling and noncontrolling interests $ 354 $ 327
Less: Income from discontinued operations 0 (1)
Income from continuing operations 354 326
Adjustments to reconcile net income to cash from operations:    
Depreciation and amortization 121 120
Pension expense 19 24
Stock-based compensation expense 10 15
Equity affiliate earnings, net of distributions received (3) (6)
Deferred income tax (benefit) expense (4) 12
(Gains) / Losses on Derivative Instruments 0 (55)
Cash contributions to pension plans (6) (276)
Restructuring cash spend (18) (13)
Change in certain asset and liability accounts:    
Receivables (269) (327)
Inventories (120) (136)
Other current assets (83) (66)
Accounts payable and accrued liabilities 90 (63)
Taxes and interest payable (57) 67
Noncurrent assets and liabilities, net (4) (33)
Other 29 (18)
Cash from / (used for) operating activities 59 (429)
Investing activities:    
Capital expenditures (77) (72)
Business acquisitions, net of cash balances acquired (6) (9)
Proceeds from the disposition of PPG's interest in the Transitions Optical joint venture and sunlens business 0 47
Proceeds from maturity of short-term investments 31 51
Payments for the settlement of cross currency swap contracts (36) (34)
Proceeds from the settlement of cross currency swap 19 19
Net investment hedge, proceeds 0 19
Other 6 14
Cash (used for) / from investing activities (63) 35
Financing activities:    
Net change in borrowing with maturities of three months or less 2 (20)
Net proceeds (payments) on commercial paper and short-term debt 86 (497)
Proceeds from the issuance of debt 0 1,242
Repayment of long-term debt (251) (1)
Purchase of treasury stock (150) (200)
Issuance of treasury stock 14 44
Dividends paid (96) (91)
Other (14) (19)
Cash (used for) / from financing activities (409) 458
Effect of currency exchange rate changes on cash and cash equivalents 11 (15)
Net (decrease) / increase in cash and cash equivalents (402) 49
Cash and cash equivalents, beginning of period 1,311 686
Cash and cash equivalents, end of period 909 735
Interest paid, net of amount capitalized 33 17
Taxes paid, net of refunds $ 108 $ 83