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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net (loss) income $ (1,017) $ 61
Adjustments to reconcile to net cash provided by operating activities    
Depreciation and amortization 236 278
Deferred income taxes (61) (9)
Gains on sales of assets 0 2
Stock-based compensation 19 18
Pension contributions (5) (7)
Impairment of goodwill 1,153 0
Changes in assets and liabilities, net of acquisitions:    
Trade receivables (116) (290)
Inventories (92) 34
Accounts payable 154 83
Accruals for incentive compensation (246) (46)
Other assets/liabilities, net 102 (21)
Net cash provided by operating activities 127 99
Cash flows from investing activities:    
Additions to property, plant and equipment (179) (118)
Proceeds from sale of assets 0 3
Net proceeds received from business disposals 0 37
Cash received on foreign currency forward contracts 22 0
Net cash used in investing activities (157) (78)
Cash flows from financing activities:    
Cash dividends paid to shareholders (102) (207)
Increase (decrease) in revolving credit facility and short-term borrowings 0 250
Net borrowings of commercial paper (maturities less than three months) 292 833
Principal payments of debt (16) (833)
Other, net (5) (3)
Net cash provided by financing activities 169 40
Effect of exchange rate changes on cash, cash equivalents and restricted cash 40 (25)
Net change in cash, cash equivalents and restricted cash 179 36
Cash, cash equivalents and restricted cash at beginning of year 471 735
Cash, cash equivalents and restricted cash at end of period 650 771
Supplemental Disclosures:    
Interest paid, net of amounts capitalized 37 61
Income taxes paid, net 86 53
Accrued capital expenditures $ 58 $ 53