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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operations    
Net income (loss) $ (128) $ 2,417
Less: Income (loss) from discontinued operations, net of tax (290) 2,455
Income (loss) from continuing operations 162 (38)
Adjustments to reconcile net loss to cash flows from operations:    
Depreciation and amortization 752 720
Deferred income taxes (136) (239)
Stock compensation 75 90
Net periodic pension and other postretirement costs (21) (19)
Other long-lived asset impairments 42 3
Other 20 25
Changes in balance sheet items:    
Accounts receivable, net (17) 52
Inventories (180) (120)
Prepaid expenses and other current assets (61) (41)
Accounts payable 3 161
Accrued expenses and other current liabilities (192) 261
Other (71) (63)
Cash flows from operations – continuing operations 376 792
Cash flows from operations – discontinued operations 155 403
Cash flows from operations 531 1,195
Cash flows from investing activities    
Capital expenditures (314) (340)
Acquisitions of developed technology and investments (9) (4)
Proceeds from sale of marketable equity securities 34 0
Other investing activities, net 8 19
Cash flows from investing activities - continuing operations (281) (325)
Cash flows from investing activities - discontinued operations (140) 3,768
Cash flows from investing activities (421) 3,443
Cash flows from financing activities    
Repayments of debt (827) (353)
Net increases in debt with original maturities of three months or less 0 214
Cash dividends on common stock (443) (439)
Proceeds from stock issued under employee benefit plans 63 86
Other financing activities, net (15) (62)
Cash flows from financing activities (1,222) (554)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash - continuing operations (45) (37)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations 39 23
Increase (decrease) in cash, cash equivalents and restricted cash (1,118) 4,070
Cash, cash equivalents and restricted cash at start of period [1] 3,198 1,722
Cash, cash equivalents and restricted cash at end of period [1] 2,080 5,792
Less cash and cash equivalents of discontinued operations 658 72
Cash, cash equivalents and restricted cash $ 1,422 $ 5,720
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash shown above to the amounts reported within the condensed consolidated balance sheet as of September 30, 2024, December 31, 2023, and September 30, 2023 (in millions):
September 30, 2024December 31, 2023September 30, 2023
Cash and cash equivalents$1,420 $3,078 $5,716 
Restricted cash included in other non-current assets2 4 4 
Cash, cash equivalents and restricted cash$1,422 $3,082 $5,720