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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net income $ 482 $ 372
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 359 368
Stock-based compensation expense 30 34
Below market intangible amortization (39) (36)
Net loss on disposal of property, plant and equipment 5 7
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable and unbilled accounts receivable (39) 35
Inventories (401) (32)
Accounts payable 232 41
Accrued income taxes 43 29
Accrued liabilities and customer deposits 37 (11)
Other assets and liabilities (81) (48)
Net cash provided by operating activities 628 759
Investing Activities    
Purchase of property, plant and equipment (82) (78)
Acquisitions of businesses, net of cash acquired (69) (405)
Proceeds from disposal of property, plant and equipment 2 8
Net cash used for investing activities (149) (475)
Financing Activities    
Proceeds from debt, net of issuance costs 4,567 4,329
Payments of debt (4,474) (4,491)
Repurchase of stock (400) (200)
Cash dividends (83) (69)
Other financing activities (5) (2)
Net cash used for financing activities (395) (433)
Effect of changes in currency exchange rates (43) 6
Increase (decrease) in cash 41 (143)
Cash and cash equivalents, beginning of period 473 599
Cash and cash equivalents, end of period $ 514 $ 456