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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net earnings $ 1,051 $ 175
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 208 204
Deferred income taxes (2) (12)
Stock-based compensation expense 10 8
Loss on debt extinguishment 0 6
Unrealized net gain on natural gas derivatives (33) (6)
Loss on disposal of property, plant and equipment 0 1
Undistributed earnings of affiliate—net of taxes (2) (12)
Changes in:    
Accounts receivable—net (185) (7)
Inventories (66) (88)
Accrued and prepaid income taxes 387 78
Accounts payable and accrued expenses 76 36
Customer advances (102) 211
Other—net 49 (16)
Net cash provided by operating activities 1,391 578
Investing Activities:    
Additions to property, plant and equipment (63) (71)
Proceeds from sale of property, plant and equipment 1 0
Purchase of U.K. emission credits (9) 0
Proceeds from sale of EU emission credits 9 0
Net cash used in investing activities (62) (71)
Financing Activities:    
Repayments of Long-term Debt 0 (255)
Payments of Financing Costs (4) 0
Dividends paid on common stock (64) (65)
Distributions to noncontrolling interest (247) (64)
Purchases of treasury stock (98) 0
Proceeds from issuances of common stock under employee stock plans 97 7
Shares withheld for taxes (23) (10)
Net cash provided by (used in) financing activities (339) (387)
Effect of exchange rate changes on cash and cash equivalents (1) 1
Increase in cash and cash equivalents 989 121
Cash and cash equivalents at beginning of period 1,628 683
Cash and cash equivalents at end of period $ 2,617 $ 804