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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income [1] $ 510 $ 404
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 299 289
Deferred income taxes (2) (3)
Undistributed earnings from equity method investments, net of dividends 0 (2)
Gain on divestiture of property (6) 0
Other, net 28 5
Net change in operating assets and liabilities:    
Receivables and other assets, gross (293) 6
Inventories, gross (52) 1
Accounts payable and accrued expenses 117 (23)
Income taxes 11 (39)
Net cash provided by operating activities 613 639
Investing activities    
Expenditures for property, plant and equipment (323) (440)
Proceeds from sale of property, plant and equipment 10 9
Net cash used in investing activities (313) (431)
Financing activities    
Net increase (decrease) in short-term debt 247 85
Proceeds from issuance of long-term debt 122 581
Repayment of long-term debt (311) (306)
Dividends paid (173) (164)
Stock repurchased (201) (450)
Common stock options exercised 0 0
Dividend paid to non-controlling interest (1) (5)
Net cash used in financing activities (316) (259)
Effect of exchange rate changes on cash and cash equivalents (89) (33)
Decrease in cash and cash equivalents (105) (84)
Cash and cash equivalents at beginning of period 330 498
Cash and cash equivalents at end of period $ 225 $ 415
[1] For the three months periods ended September 30, 2025 and 2024, the aggregate transaction gain (loss) included in net income for the period was a loss of $7 million and a loss of $5 million, respectively. For the nine months periods ended September 30, 2025 and 2024, the aggregate transaction gain (loss) included in net income for the period was a loss of $21 million and a loss of $7 million, respectively.