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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net earnings $ 90 $ 227 $ 582
Adjustments to reconcile net earnings to cash from operating activities:      
Depreciation and amortization 311 283 235
Deferred income taxes 128 (154) (112)
Income from affiliates (85) (105) (152)
Other investment loss (income), net (19) (85) 239
Dividends received from affiliates 64 117 40
Payment of contingent consideration in excess of acquisition date fair value   (16)  
Other, net 42 23 39
Changes in assets and liabilities, net of acquisitions and dispositions:      
Receivables, net of allowance (46) 176 (188)
Inventories 61 200 (20)
Other assets (12) 3 (7)
Accounts payable (5) (32) 26
Other liabilities, exclusive of debt (10) 73 (6)
Net cash from operating activities 519 710 676
Investing activities:      
Purchase of short-term investments (1,366) (2,519) (567)
Proceeds from sale of short-term investments 1,354 2,686 717
Proceeds from maturity of short-term investments 14 60 15
Capital expenditures (511) (506) (474)
Proceeds from sale of property, plant and equipment 34 34 29
Purchase of long-term investments (13) (16) (117)
Acquisition of business     (58)
Proceeds from sale of non-consolidated affiliates 13   13
Investments in and advances to non-consolidated affiliates   (11) (4)
Other, net (9) (1) 9
Net cash used in investing activities (484) (273) (437)
Financing activities:      
Uncommitted lines of credit, net (10) (172) (27)
Draws under committed lines of credit 1,440 1,173 1,215
Repayments of committed lines of credit (1,370) (1,199) (1,241)
Proceeds from long-term debt   310 1
Principal payments of long-term debt (10) (8) (8)
Finance lease payments (49) (57) (44)
Payment of contingent consideration   (14)  
Dividends paid (9) (10) (10)
Other, net (1) (4) (2)
Net cash from (used in) financing activities 12 (581) (116)
Effect of exchange rate changes on cash and cash equivalents (5) 1 1
Net change in cash and cash equivalents 42 (143) 124
Cash and cash equivalents at beginning of year 56 199 75
Cash and cash equivalents at end of year 98 56 $ 199
Affiliates      
Financing activities:      
Proceeds from payable to affiliate 29    
Repurchase of common stock from affiliates $ (8) $ (600)