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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 635 $ 985 $ 155
Adjustments to reconcile net income to net cash provided (used in) by operating activities:      
Depreciation and amortization 343 302 301
Russia/Belarus impairment and loss on assets held for sale   4 127
Deferred income taxes 49 (489) (2)
Stock-based compensation 70 66 67
Equity income loss in unconsolidated affiliates (36) (119) (68)
Dividend from unconsolidated affiliate 84    
Gain on business divestiture (130)    
Provision for inventory losses 31 28 (18)
Other, net 43 (50) 18
Change in operating assets and liabilities, net of acquisitions:      
Receivables 93 (269) (440)
Inventories 270 (361) (480)
Contract assets 162 (55) (220)
Prepaid and other current assets 17 (40) 6
Accounts payable (87) (4) 289
Accrued liabilities (51) (116) 101
Contract liabilities (42) 82 52
Income taxes payable (5) (6) 5
Other assets/liabilities, net (142) 185 (72)
Net cash provided by (used in) operating activities 1,304 143 (179)
Cash flows from investing activities:      
Purchases of property, plant and equipment (351) (283) (214)
Business acquisitions, net of cash acquired (298) (22) (49)
Business divestitures, net of cash disposed 176    
Other, net 2 12 25
Net cash used in investing activities (471) (293) (238)
Cash flows from financing activities:      
Borrowings against lines of credit and other debt 420 184 20
Payments against lines of credit and other debt (431) (192) (4)
Financing leases (28) (23) (24)
Cash dividends paid (108) (79) (78)
Shares repurchases (229)    
Other (30) 7 (10)
Net cash used in financing activities (406) (103) (96)
Effect of exchange rates on cash (13)   (9)
Increase (decrease) in cash and cash equivalents 414 (253) (522)
Cash and cash equivalents, beginning of period 816 1,069 1,591
Cash and cash equivalents, end of period 1,230 816 1,069
Cash payments during the period for:      
Interest 86 85 75
Income taxes $ 161 $ 114 $ 117