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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 280 $ 464 $ 687
Adjustments for:      
Depreciation and amortization 615 596 536
Fixed assets impairment 111 14 0
Exchange rate, interest and derivative, net 59 152 24
Tax expenses 161 172 287
Change in provisions 26 (50) (32)
Other 18 13 29
Adjustments for reconcile profit loss 990 897 844
Change in inventories (210) (7) 465
Change in trade receivables (11) 26 252
Change in trade payables 100 104 (101)
Change in other receivables (22) 39 26
Change in other payables 80 43 (210)
Net change in operating assets and liabilities (63) 205 432
Income taxes paid, net of refund (151) (98) (253)
Net cash provided by operating activities [1] 1,056 1,468 1,710
Cash flows from investing activities      
Proceeds (payments) from deposits, net (86) 56 (88)
Purchases of property, plant and equipment and intangible assets (824) (713) (780)
Proceeds from divestiture of assets and businesses, net of transaction expenses 1 19 4
Payments from settlement of derivatives, net (9) 0 0
Interest received 15 17 10
Business combinations (12) (74) 0
Other 0 1 1
Net cash used in investing activities (915) (694) (853)
Cash flows from financing activities      
Dividends paid to the Company's shareholders (224) (251) (474)
Receipts of long-term debt 1,666 [2] 889 [2] 633
Repayments of long-term debt (1,599) (1,302) (836)
Receipts (repayments) of short-term debt, net 146 (1) (25)
Interest paid (117) (122) (125)
Receipts (payments) from transactions in derivatives (3) (2) 5
Dividend paid to the non-controlling interests (64) (57) (15)
Net cash used in financing activities (195) (846) (837)
Net change in cash and cash equivalents (54) (72) 20
Cash and cash equivalents as of the beginning of the year 327 420 417
Net effect of currency translation on cash and cash equivalents 18 (21) (17)
Cash and cash equivalents as of the end of the year $ 291 $ 327 $ 420
[1] Reclassification - see Note 3 below.
[2] The balance includes Short-term debt, loans and debentures, derivatives on loans and debentures, and interest payables.