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Consolidated statements of cash flow - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net profit or loss $ (1,277) $ 2,234 $ 16
Adjustments to reconcile net profit or loss to cash flows provided by operating activities:      
Income from equity interests in associates and joint ventures (94) (446) (287)
Depreciation of property, plant and equipment 3,016 2,551 2,816
Amortization of intangible assets 37 43 51
Depreciation of right-of-use assets 220 214 201
Retirement of property, plant and equipment and intangible assets and consumption of materials 383 375 342
Charge on income tax 1,020 822 699
Net increase in provisions 426 139 510
Impairment of property, plant and equipment and intangible assets 2,288 123 115
Effect of changes in exchange rates, interest and others (692) (73) 440
Share-based benefit plans 3 8 6
Other insurance income 0 0 (15)
Result from debt exchange 0 0 (21)
Result from assignment of areas 0 0 (21)
Result from sale of assets 0 0 (57)
Changes in assets and liabilities:      
Trade receivables (178) (397) 117
Other receivables (178) (94) (241)
Inventories 44 (232) (303)
Accounts payable 736 600 (91)
Taxes payables 74 112 (33)
Salaries and social security 231 80 10
Other liabilities 66 (14) (92)
Decrease in provisions due to payment/use (491) (159) (81)
Contract assets (12) 7 (6)
Contract liabilities 25 (29) 56
Dividends received 276 94 56
Proceeds from collection of profit loss insurance 0 1 19
Income tax payments (10) (266) (5)
Net cash flows from operating activities [1],[2] 5,913 5,693 4,201
Investing activities:      
Acquisition of property, plant and equipment and intangible assets [3] (5,673) (4,006) (2,448)
Contributions and acquisitions of interests in associates and joint ventures [3] (5) (2) 0
Loans with related parties, net [3] 0 (18) 0
Proceeds from sales of financial assets [3] 583 643 406
Payments from purchase of financial assets [3] (337) (740) (594)
Interest received from financial assets [3] 85 99 41
Proceeds from assignment of areas and sale of assets [3] 15 8 48
Net cash flows used in investing activities [3] (5,332) (4,016) (2,547)
Financing activities:      
Payments of loans [3] (1,396) (780) (1,653)
Payments of interest [3] (623) (543) (615)
Proceeds from loans [3] 2,667 402 963
Account overdraft, net [3] (3) 71 8
Repurchase of treasury shares [3] 0 (28) 0
Payments of leases [3] (359) (341) (302)
Payments of interest in relation to income tax [3] (8) (8) (1)
Net cash flows from / (used in) financing activities [3] 278 (1,227) (1,600)
Effect of changes in exchange rates on cash and cash equivalents (509) (288) (93)
Net Increase (Decrease) in cash and cash equivalents 350 162 (39)
Cash and cash equivalents at the beginning of the fiscal year 773 611 650
Cash and cash equivalents at the end of the fiscal year 1,123 773 611
Net Increase (Decrease) in cash and cash equivalents $ 350 $ 162 $ (39)
[1] Does not include the effect of changes in exchange rates generated by cash and cash equivalents, which is exposed separately in this statement.
[2] Includes 193, 175 and 119 for the fiscal year ended December 31, 2023, 2022 and 2021, respectively, for payment of short-term leases and payments of the variable charge of leases related to the underlying asset performance and/or use.
[3] The main investing and financing transactions that have not affected cash and cash equivalents correspond to: