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CONDENSED CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net earnings $ 113 $ 256 $ 323 $ 378  
Non-cash charges          
Depreciation and amortization     242 232  
Pension expense     14 16  
Stock-based compensation expense     29 18  
Restructuring, asset impairment and related charges   11   11  
Gain on sale of divested business       (55)  
Gain on sale leaseback   (182)   (182)  
Cash payments          
Pension contributions     (17) (12)  
Cash paid for restructuring activities (4) (4) (10) (8)  
Change in components of working capital     (541) (250)  
Other, net (a)     58 (28)  
Cash provided by operating activities     98 120  
Cash flows from investing activities:          
Cash payments for property, plant and equipment     (268) (199)  
Contributions and advances to joint ventures     (8) (11)  
Cash proceeds on disposal of other businesses and misc. assets     3 96  
Cash proceeds on sale leasebacks       190  
Net cash proceeds (payments) from hedging activity     7 (10)  
Cash provided by (utilized in) investing activities     (266) 66  
Cash flows from financing activities:          
Changes in borrowings, net     216 (213)  
Payment of finance fees     (20) (20)  
Shares repurchased     (20) (20)  
Net cash receipts (payments) for hedging activity     (40) 38  
Distributions to non-controlling interests     (3) (26)  
Issuance of common stock and other     (1) (2)  
Cash provided by (utilized in) financing activities     132 (243)  
Effect of exchange rate fluctuations on cash     17 (7)  
Change in cash     (19) (64)  
Cash at beginning of period     773 725 $ 725
Cash at end of period $ 754 $ 661 $ 754 $ 661 $ 773