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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 641 $ 565 $ 412
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation and amortization 479 491 473
Stock-based compensation expense 41 46 20
Below market intangible amortization (53) (50) (88)
Deferred income taxes 36 88 29
Net loss (gain) on disposal of property, plant and equipment 3 (4) 10
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable and unbilled accounts receivable (52) (76) 315
Inventories (368) (41) 181
Accounts payable 306 109 (269)
Accrued income taxes 7 (4) 57
Accrued liabilities and customer deposits 108 84 (91)
Other assets and liabilities (110) (135) (265)
Net cash provided by operating activities 1,038 1,073 784
Investing Activities      
Purchase of property, plant and equipment (149) (130) (136)
Acquisitions of businesses, net of cash acquired (89) (435) (40)
Proceeds from disposal of property, plant and equipment 3 25 21
Net cash used for investing activities (235) (540) (155)
Financing Activities      
Proceeds from debt, net of issuance costs 6,087 5,391 3,878
Payments of debt (6,117) (5,552) (4,077)
Repurchase of stock (473) (300) (207)
Cash dividends (111) (92) (93)
Payment of contingent consideration on acquisitions (101) (99) (115)
Other financing activities 7 (1) (5)
Net cash used for financing activities (708) (653) (619)
Effect of changes in currency exchange rates (27) (6) (15)
Increase (decrease) in cash, cash equivalents and restricted cash 68 (126) (5)
Cash, cash equivalents and restricted cash, beginning of year 473 599 604
Cash, cash equivalents and restricted cash, end of year $ 541 $ 473 $ 599