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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operations    
Net income (loss) $ 126 $ 39
Less: Income (loss) from discontinued operations, net of tax 62 33
Income (loss) from continuing operations 64 6
Adjustments to reconcile net loss to cash flows from operations:    
Depreciation and amortization 247 271
Deferred income taxes (142) (58)
Stock compensation 10 17
Net periodic pension and other postretirement costs (8) (7)
Other long-lived asset impairments 22 0
Other 6 5
Changes in balance sheet items:    
Accounts receivable, net 26 125
Inventories (122) (145)
Prepaid expenses and other current assets (24) (4)
Accounts payable 16 119
Accrued expenses and other current liabilities (143) (240)
Other (51) (22)
Cash flows from operations – continuing operations (99) 67
Cash flows from operations – discontinued operations (94) 96
Cash flows from operations (193) 163
Cash flows from investing activities    
Capital expenditures (122) (110)
Other investing activities, net (2) 10
Cash flows from investing activities - continuing operations (124) (100)
Cash flows from investing activities - discontinued operations 3,389 (66)
Cash flows from investing activities 3,265 (166)
Cash flows from financing activities    
Repayments of debt (2,825) (15)
Net decreases in debt with original maturities of three months or less (300) 0
Cash dividends on common stock (87) (147)
Proceeds from stock issued under employee benefit plans 10 40
Other financing activities, net (24) (18)
Cash flows from financing activities (3,226) (140)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash - continuing operations 36 (25)
Increase (decrease) in cash, cash equivalents and restricted cash (118) (168)
Cash, cash equivalents and restricted cash at start of period [1] 2,414 3,198
Cash, cash equivalents and restricted cash at end of period [1] 2,296 3,030
Less cash and cash equivalents of discontinued operations 0 200
Cash, cash equivalents and restricted cash $ 2,296 $ 2,830
[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 March 31, 2025, December 31, 2024, and March 31, 2024 (in millions):
March 31, 2025December 31, 2024March 31, 2024
Cash and cash equivalents$2,294 $1,764 $2,826 
Restricted cash included in other non-current assets2 2 4 
Cash and cash equivalents of discontinued operations— 648 200 
Cash, cash equivalents and restricted cash$2,296 $2,414 $3,030