XML 27 R8.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income [1] $ 167 $ 127
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 95 96
Deferred income taxes (9) 6
Undistributed earnings from equity method investments, net of dividends (1) (2)
Gain on divestiture of property (6) 0
Other, net 10 10
Net change in operating assets and liabilities:    
Receivables and other assets, gross (190) (7)
Inventories, gross 22 (8)
Accounts payable and accrued expenses (21) (73)
Income taxes 11 (26)
Net cash provided by operating activities 77 122
Investing activities    
Expenditures for property, plant and equipment (102) (140)
Proceeds from sale of property, plant and equipment 8 0
Net cash used in investing activities (93) (140)
Financing activities    
Net increase (decrease) in short-term debt 123 (227)
Proceeds from issuance of long-term debt 39 534
Repayment of long-term debt 0 0
Dividends paid (54) (56)
Stock repurchased (50) (160)
Common stock options exercised 0 0
Dividend paid to non-controlling interest 0 0
Net cash used in financing activities 57 92
Effect of exchange rate changes on cash and cash equivalents (49) (3)
(Decrease) increase in cash and cash equivalents (8) 71
Cash and cash equivalents at beginning of period 330 498
Cash and cash equivalents at end of period $ 322 $ 569
[1] For the three months periods ended March 31, 2025 and 2024, the aggregate transaction gain (loss) included in net income for the period were a loss of $7 million and a loss of $6 million, respectively.