v3.26.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 221 $ (418)
Adjustments to reconcile to net cash provided by operating activities    
Depreciation and amortization 464 478
Deferred income taxes (37) (177)
Loss on assets classified as held for sale 27 0
Losses on sale of assets 0 1
Losses on business disposals 8 111
Stock-based compensation 51 51
Pension contributions (10) (9)
Gain on extinguishment of debt 0 (488)
Impairment of goodwill 0 1,153
Changes in assets and liabilities, net of acquisitions:    
Trade receivables (188) (106)
Inventories (45) (124)
Accounts payable 288 77
Accruals for incentive compensation (63) (204)
Other assets/liabilities, net (37) 23
Net cash provided by operating activities 679 368
Cash flows from investing activities:    
Additions to property, plant and equipment (301) (274)
Additions to intangible assets (2) 0
Net proceeds received from business disposals 201 2,707
Payments to buyer for business disposals (12) 0
Cash (paid) received on foreign currency forward contracts (19) 112
Joint venture capital contributions 0 (4)
Net cash (used in) provided by investing activities (133) 2,541
Cash flows from financing activities:    
Cash dividends paid to shareholders (204) (204)
Net repayments of commercial paper (maturities less than three months) (264) 0
Principal payments of debt 0 (2,413)
Withholding tax paid on stock-based compensation (18) (22)
Purchase of treasury stock (71) 0
Other, net (8) (15)
Net cash used in financing activities (565) (2,654)
Effect of exchange rate changes on cash and cash equivalents (2) 90
Net change in cash and cash equivalents (21) 345
Cash and cash equivalents at beginning of year 590 471
Cash and cash equivalents at end of period 569 816
Supplemental Disclosures:    
Interest paid, net of amounts capitalized 80 130
Income taxes paid, net 175 139
Accrued capital expenditures $ 94 $ 69