XML 25 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net earnings (loss) $ (85) $ 627 $ 172
Gain from discontinued operations     (7)
Non-cash charges (credits):      
Depreciation 385 352 356
Amortization of intangibles and other deferred items 98 102 93
Amortization of finance fees and debt discount 11 11 14
Deferred tax provision 25 22 5
Pension expense 30 34 32
Stock-based compensation expense 43 33 8
Restructuring, asset impairment and related charges 97 50 28
Pension settlement and curtailment charges 19 20 74
Charge related to Paddock support agreement liability     154
Brazil indirect tax credit     (71)
Goodwill impairment 445    
Gain on sale of divested businesses and miscellaneous assets (4) (55) (84)
Gain on sale leasebacks   (334)  
Pension contributions (32) (26) (84)
Cash paid for restructuring activities (26) (20) (30)
Paddock Trust settlement payment and related expenses   (621)  
Change in components of working capital (See Note 20) (148) 95 (13)
Other, net (40) (136) 33
Cash provided by continuing operating activities 818 154 680
Cash provided by discontinued operating activities     7
Total cash provided by operating activities 818 154 687
Investing activities:      
Cash payments for property, plant and equipment (688) (539) (398)
Contributions and advances to joint ventures (10) (12)  
Cash proceeds on disposal of other businesses and misc. assets 11 98 122
Cash proceeds on sale leasebacks   368  
Cash proceeds on sale of ANZ businesses, net of transaction costs     58
Reconsolidation of reorganized Paddock   12  
Net cash proceeds (payments) for hedging activity 4 (24) (2)
Cash utilized in investing activities (683) (97) (220)
Financing activities:      
Additions to long-term debt 1,332 2,852 1,021
Repayments of long-term debt (1,298) (2,897) (1,188)
Increase (decrease) in short-term loans 47 16 (17)
Payment of finance fees (22) (29) (16)
Net cash proceeds (payments) for hedging activity (40) 133 (15)
Distributions paid to noncontrolling interests (6) (27) (16)
Shares repurchased (40) (40) (40)
Issuance of common stock and other   (2) (2)
Cash provided by (utilized in) financing activities (27) 6 (273)
Effect of exchange rate fluctuations on cash 32 (15) (29)
Increase in cash including cash classified within current assets held for sale 140 48 165
Less: decrease in cash classified within current assets held for sale     (3)
Cash and cash equivalents at beginning of period 773 725 563
Cash and cash equivalents at end of period $ 913 $ 773 $ 725