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CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net earnings $ 158 $ 192 $ 330
Loss from discontinued operations 4 23 18
Non-cash charges (credits):      
Depreciation 323 335 350
Amortization of intangibles and other deferred items 86 83 47
Amortization of finance fees and debt discount 15 30 32
Deferred tax provision (benefit) 12 (18) (3)
Pension expense 31 43 101
Restructuring, asset impairment and related charges 63 76 119
Pension settlement charges   65  
Non-income tax charge   69  
Asbestos-related costs 16 46 12
Acquisition-related fair value inventory adjustments 22    
Acquisition-related fair value intangible adjustments 10    
Other 108 73 52
Pension contributions (17) (28) (96)
Asbestos-related payments (138) (148) (158)
Cash paid for restructuring activities (38) (58) (78)
Change in non-current assets and liabilities (131) (202) (150)
Change in components of working capital 88 117 124
Cash provided by continuing operating activities 612 698 700
Cash utilized in discontinued operating activities (4) (23) (18)
Total cash provided by operating activities 608 675 682
Investing activities:      
Additions to property, plant and equipment (402) (369) (361)
Acquisitions, net of cash acquired (2,351) (114) (4)
Net cash proceeds related to sale of assets and other 1 19 11
Net foreign exchange derivative activity 4    
Net activity for non-controlling partner loans   9 (16)
Deconsolidation of subsidiary     (32)
Cash utilized in investing activities (2,748) (455) (402)
Financing activities:      
Additions to long-term debt 4,538 1,247 768
Repayments of long-term debt (2,321) (1,101) (1,040)
Increase (decrease) in short-term loans 51 (139) 8
Payment of finance fees (90) (11) (7)
Distributions paid to noncontrolling interests (22) (37) (22)
Treasury shares purchased (100) (32) (33)
Contribution from noncontrolling interests     5
Issuance of common stock and other 1 3  
Cash provided by (utilized in) financing activities 2,057 (70) (321)
Effect of exchange rate fluctuations on cash (30) (21) (7)
Increase (decrease) in cash (113) 129 (48)
Cash and cash equivalents at beginning of period 512 383 431
Cash and cash equivalents at end of period $ 399 $ 512 $ 383