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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 (loss) $ (216) $ (388) $ 197
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 323 334 296
Impairment of goodwill, intangibles and other assets 353 342 474
(Gain) loss from sale of businesses and investments 2 (1) (136)
Deferred income taxes (114) (283) 97
Stock based compensation expense 74 50 12
Pension settlement (1) 126 0
Loss on extinguishment and modification of debt 14 0 1
Other, net (18) (33) (24)
Changes to operating accounts, excluding the effects of divestitures:      
Accounts receivable 241 67 130
Inventories 70 673 (276)
Accounts payable (96) (50) (536)
Accrued liabilities and other, net (136) 93 (507)
Net cash provided by (used in) operating activities 496 930 (272)
Cash flows from investing activities:      
Capital expenditures (259) (284) (312)
Proceeds from sale of divested businesses and investments 14 11 617
Proceeds from settlement of swaps 60 43 25
Other investing activities, net 34 31 13
Net cash provided by (used in) investing activities (151) (199) 343
Cash flows from financing activities:      
Proceeds from (payments on) short-term debt, net (91) (488) 619
Payments on current portion of long-term debt (701) (2) (1,091)
Proceeds from short-term debt with original maturities greater than 90 days 431 0 0
Payments on short-term debt with original maturities greater than 90 days (431) 0 0
Net proceeds from issuance of long-term debt 1,237 0 989
Payments on long-term debt (750) 0 0
Debt extinguishment and modification costs (14) (1) 0
Repurchase of shares of common stock 0 0 (325)
Cash dividends (118) (184) (385)
Equity compensation activity and other, net (14) 11 (39)
Net cash used in financing activities (451) (664) (232)
Exchange rate effect on cash, cash equivalents and restricted cash (36) (9) (13)
Increase (decrease) in cash, cash equivalents and restricted cash (142) 58 (174)
Cash, cash equivalents and restricted cash at beginning of period 361 303 477
Cash, cash equivalents and restricted cash at end of period 219 361 303
Supplemental disclosures:      
Restricted cash at beginning of period 29 16 37
Restricted cash at end of period 21 29 16
Cash paid for income taxes, net of refunds 173 103 172
Cash paid for interest $ 319 $ 298 $ 244