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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 187 $ 301
Adjustments to reconcile to net cash provided by operating activities    
Depreciation and amortization 861 244
Deferred income taxes (148) (37)
(Gains) Losses on sale of assets (1) 2
Stock-based compensation 44 27
Pension contributions (21) (19)
Amortization of inventory step-up 363 0
Changes in assets and liabilities, net of acquisitions:    
Trade receivables (214) (94)
Inventories (230) (43)
Accounts payable 256 22
Accruals for incentive compensation 43 19
Other current payables and accrued expenses 99 60
Other assets/liabilities, net (113) (67)
Net cash provided by operating activities 1,126 415
Cash flows from investing activities:    
Additions to property, plant and equipment (242) (124)
Additions to intangible assets (4) 0
Proceeds from life insurance contracts 0 2
Maturity of net investment hedges 0 (15)
Proceeds from disposal of assets 13 18
Cash acquired 193 0
Proceeds received in advance of sale of business 115 0
Net cash provided by (used in) investing activities 75 (119)
Cash flows from financing activities:    
Cash dividends paid to shareholders (466) (240)
Decrease in revolving credit facility and short-term borrowings (105) (1)
Proceeds from issuance of commercial paper 200 0
Deferred financing costs 0 (3)
Repayments of long-term debt (628) (335)
Proceeds from issuance of long-term debt 3 200
Contingent consideration paid (14) (9)
Purchases of redeemable noncontrolling interest 0 (22)
Proceeds from issuance of stock in connection with stock options 8 0
Employee withholding taxes paid (20) (8)
Net cash used in financing activities (1,022) (418)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (44) (18)
Net change in cash, cash equivalents and restricted cash 135 (140)
Cash, cash equivalents and restricted cash at beginning of year 660 624
Cash, cash equivalents and restricted cash at end of period 795 484
Supplemental Disclosures:    
Interest paid, net of amounts capitalized 216 113
Income taxes paid 198 101
Accrued capital expenditures $ 44 $ 23