v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Condensed) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 482 $ 443
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 234 224
Loss from early extinguishments of debt 3 0
Restructuring and other, net 4 45
Pension and postretirement expense 19 14
Pension contributions (10) 22
Stock-based compensation 23 26
Working capital changes and other (96) (311)
Net cash provided by operating activities 659 463
Cash flows from investing activities    
Capital expenditures (203) (89)
Net investment hedge 16 13
Settlement of net investment hedge (45) 0
Proceeds from sale of property, plant and equipment 38 29
Other 0 3
Net cash used for investing activities (194) (44)
Cash flows from financing activities    
Net change in revolving credit facility and short-term debt 107 8
Proceeds from short-term debt 28 252
Payments of short-term debt (70) (126)
Proceeds from long-term debt 141 700
Payments of long-term debt (25) (917)
Debt issuance costs (13) (10)
Dividends paid to noncontrolling interests (41) (62)
Dividends paid to shareholders (77) (60)
Common stock repurchased (517) (209)
Payments from financed assets (90) 0
Other (5) (3)
Net cash used for financing activities (562) (427)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3) 30
Net change in cash, cash equivalents and restricted cash (100) 22
Cash, cash equivalents and restricted cash at January 1 879 1,016
Cash, cash equivalents and restricted cash at June 30 $ 779 $ 1,038