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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income from operations $ 620 $ 1,974
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 273 155
Deferred income tax provision (110) (17)
Stock-based compensation costs 40 41
Equity method investment net earnings (96) (159)
(Gain) loss on extinguishment of debt 0 (36)
(Gain) loss on sale of investments / deconsolidation 276 (1,119)
Changes in operating assets and liabilities    
Accounts receivable, net (406) (483)
Contract assets, current (40) (224)
Inventories, net (59) (435)
Other assets, current (105) (37)
Accounts payable and accrued liabilities 120 79
Contract liabilities, current 37 42
Defined benefit plan contributions (11) (6)
Distributions from equity method investments 10 15
Other operating activities, net (45) 40
Net cash flows provided by (used in) operating activities 504 (170)
Investing Activities    
Capital expenditures (144) (122)
Investment in businesses, net of cash acquired (56) (38)
Dispositions of businesses 36 2,944
Settlement of derivative contracts, net (14) (123)
Kidde-Fenwal, Inc. deconsolidation (134) 0
Other investing activities, net 16 (16)
Net cash flows provided by (used in) investing activities (296) 2,645
Financing Activities    
Increase (decrease) in short-term borrowings, net (19) (22)
Issuance of long-term debt 6 21
Repayment of long-term debt (12) (1,127)
Repurchases of common stock (62) (1,014)
Dividends paid on common stock (309) (257)
Dividends paid to non-controlling interest (41) (22)
Other financing activities, net (69) (13)
Net cash flows provided by (used in) financing activities (506) (2,434)
Effect of foreign exchange rate changes on cash and cash equivalents (13) (41)
Net increase (decrease) in cash and cash equivalents and restricted cash (311) 0
Cash, cash equivalents and restricted cash, beginning of period 3,527 3,025
Cash, cash equivalents and restricted cash, end of period 3,216 3,025
Less: restricted cash 7 8
Cash and cash equivalents, end of period $ 3,209 $ 3,017