XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income $ 366 $ 319
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 246 240
Stock-based compensation expense 22 20
Below market intangible amortization (26) (25)
Net loss on disposal of property, plant and equipment 3 3
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable and unbilled accounts receivable (150) 45
Inventories (248) (256)
Accounts payable (5) 185
Accrued income taxes (30) 32
Accrued liabilities and customer deposits (73) (93)
Other assets and liabilities (15) (46)
Net cash provided by operating activities 90 424
Investing Activities    
Acquisitions of businesses, net of cash acquired (223) (69)
Purchase of property, plant and equipment (70) (50)
Proceeds from disposal of property, plant and equipment 0 2
Net cash used for investing activities (293) (117)
Financing Activities    
Proceeds from debt, net of issuance costs 2,964 3,416
Payments of debt (2,590) (3,216)
Repurchase of stock (252) (399)
Cash dividends (62) (55)
Payment of income tax withholding on share-based compensation (15) (1)
Distribution to noncontrolling interest (12) 0
Other financing activities (3) (1)
Net cash provided by (used for) financing activities 30 (256)
Effect of changes in currency exchange rates 3 (23)
(Decrease) increase in cash (170) 28
Cash, cash equivalents and restricted cash, beginning of period 541 473
Cash, cash equivalents and restricted cash, end of period $ 371 $ 501