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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net (loss) income $ (132) $ (950) $ 411
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation 132 119 124
Amortization of intangible assets 211 209 222
Goodwill impairment 291 1,187 0
Indefinite-lived intangible asset impairment 16 100 0
Deferred income taxes (130) (228) (25)
Stock based compensation expense 46 59 48
Restructuring and other costs 33 (10) (17)
Equity in earnings from unconsolidated affiliates 4 36 10
Other non-cash (income) expense (5) 60 24
Loss (gain) on sale or disposal of non-strategic businesses and product lines 0 3 (14)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts and notes receivable-trade, net (58) 85 (117)
Inventories, net 6 (141) (64)
Prepaid expenses and other current assets (58) (33) (32)
Other noncurrent assets 4 1 (10)
Accounts payable 14 30 (49)
Accrued liabilities (16) 4 117
Income taxes (11) (15) 17
Other noncurrent liabilities 30 1 12
Net cash provided by operating activities 377 517 657
Cash flows from investing activities:      
Cash paid for acquisitions of businesses and equity investments, net of cash acquired 0 0 (248)
Cash received on sale of non-strategic businesses or product lines 13 0 28
Capital expenditures (149) (149) (142)
Cash received on derivative contracts 39 13 2
Proceeds from sale of property, plant and equipment 7 0 0
Other investing activities, net 1 (2) 2
Net cash used in investing activities (89) (138) (358)
Cash flows from financing activities:      
Proceeds from long-term borrowings 0 6 16
Repayments on long-term borrowings (7) (2) (297)
Net borrowings (repayments) on short-term borrowings 126 (64) 179
Proceeds from exercised stock options 0 6 51
Cash paid for treasury stock (300) (150) (200)
Cash dividends paid (116) (104) (92)
Other financing activities, net (10) (21) (36)
Net cash used in financing activities (307) (329) (379)
Effect of exchange rate changes on cash and cash equivalents (12) (24) (19)
Net (decrease) increase in cash and cash equivalents (31) 26 (99)
Cash and cash equivalents at beginning of period 365 339 438
Cash and cash equivalents at end of period 334 365 339
Supplemental disclosures of cash flow information:      
Interest paid, net of amounts capitalized 97 70 64
Income taxes paid, net of refunds 177 122 148
Non-cash investing activities:      
Change in accounts payable related to capital expenditures $ 6 $ (6) $ 19