v3.25.4
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities      
Net income (loss) $ 221 $ 335 $ 518
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 158 82 56
(Gain) loss on sale of business (41) 0 0
Deferred taxes (3) (10) (38)
Stock-based compensation expense 32 30 44
Inventory and other non-cash charges 7 25 9
Changes in operating assets and liabilities (net of effects of acquisitions and divestitures):      
Receivables (46) 16 11
Inventories 39 77 (200)
Trade accounts payable 118 (241) 58
Other assets and liabilities (33) 15 2
Foreign exchange and other operating activities, net (12) (3) (1)
Net cash provided by (used in) operating activities 440 326 459
Investing Activities      
Capital expenditures (118) (137) (127)
Proceeds from sale of capital assets 3 1 34
Acquisitions, net of cash acquired, and investments 0 (2,001) (24)
Proceeds from sale of business 109 0 0
Other investing activities, net 38 10 3
Net cash provided by (used in) investing activities 32 (2,127) (114)
Financing Activities      
Repayments of debt (104) (222) (402)
Proceeds from issuance of debt 97 2,217 243
Payment of debt issuance costs 0 (41) 0
Share repurchases (56) (49) (63)
Dividends paid (45) (46) (43)
Other financing activities, net (15) (22) (23)
Net cash provided by (used in) financing activities (123) 1,837 (288)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 35 (19) 10
Net Increase (Decrease) in Cash and Cash Equivalents 384 17 67
Cash and Cash Equivalents at Beginning of Year 388 371 304
Cash and Cash Equivalents at End of Year $ 772 $ 388 $ 371