CONSOLIDATED STATEMENTS OF CASH FLOWS |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023
USD ($)
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Dec. 31, 2022
USD ($)
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Dec. 31, 2021
USD ($)
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| Cash flows from operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income (loss) from continuing operations | $ 2,663,000,000 | $ (2,421,000,000) | $ 1,295,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income from discontinued operations, net of tax | 2,732,000,000 | 233,000,000 | 262,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income (loss) from continuing operations | (69,000,000) | (2,654,000,000) | 1,033,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjustments to reconcile net income (loss) to cash flows operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | 1,263,000,000 | 1,380,000,000 | 867,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension settlement and curtailment (gains) losses | 1,000,000 | (12,000,000) | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net periodic pension and other postretirement costs | (19,000,000) | 50,000,000 | 99,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred income taxes | (499,000,000) | (230,000,000) | (161,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock compensation | 133,000,000 | 153,000,000 | 146,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Losses on debt extinguishments | 0 | 0 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-lived asset impairments | 77,000,000 | 344,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other long-lived asset impairments | 470,000,000 | 9,000,000 | 11,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill impairments | 0 | 2,812,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loss on product divestiture arrangement | 0 | 54,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reclassification of cumulative translation loss to earnings | 0 | 65,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loss on subsidiary liquidation | 0 | 21,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other | 77,000,000 | (20,000,000) | 81,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in balance sheet items: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts receivable, net | (66,000,000) | (125,000,000) | (170,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventories | (114,000,000) | (367,000,000) | (27,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Prepaid expenses and other current assets | (40,000,000) | (49,000,000) | (35,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts payable | 107,000,000 | (73,000,000) | 105,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued expenses and other current liabilities | 412,000,000 | (221,000,000) | 207,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other | (31,000,000) | (106,000,000) | (137,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash flows from operations – continuing operations | 1,702,000,000 | 1,031,000,000 | 2,026,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash flows from operations – discontinued operations | 24,000,000 | 180,000,000 | 196,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash flows from operations | 1,726,000,000 | 1,211,000,000 | 2,222,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash flows from investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital expenditures | (692,000,000) | (620,000,000) | (691,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions, net of cash acquired, and investments | (6,000,000) | (263,000,000) | (10,502,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other investing activities, net | 26,000,000 | 11,000,000 | 45,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash flows from investing activities - continuing operations | (672,000,000) | (872,000,000) | (11,148,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash flows from investing activities - discontinued operations | 3,885,000,000 | (59,000,000) | (52,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash flows from investing activities - continuing operations | 3,213,000,000 | (931,000,000) | (11,200,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash flows from financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Issuances of debt | 0 | 0 | 11,903,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Repayments of debt | (2,634,000,000) | (954,000,000) | (2,823,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net (decreases) increases in debt with original maturities of three months or less | (299,000,000) | 55,000,000 | 246,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash dividends on common stock | (586,000,000) | (573,000,000) | (530,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proceeds from stock issued under employee benefit plans | 95,000,000 | 127,000,000 | 187,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchases of treasury stock | 0 | (32,000,000) | (600,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt issuance costs | 0 | 0 | (98,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other financing activities, net | (65,000,000) | (61,000,000) | (40,000,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash flows from financing activities | (3,489,000,000) | (1,438,000,000) | 8,245,000,000 | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 26,000,000 | (76,000,000) | (47,000,000) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Increase (decrease) in cash, cash equivalents and restricted cash | 1,476,000,000 | (1,234,000,000) | (780,000,000) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash, cash equivalents and restricted cash at beginning of year | 1,722,000,000 | [1] | 2,956,000,000 | [1] | 3,736,000,000 | [1] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash, cash equivalents and restricted cash at end of year | 3,198,000,000 | [1] | 1,722,000,000 | [1] | 2,956,000,000 | [1] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 3,194,000,000 | 1,718,000,000 | 2,951,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restricted cash included in prepaid expenses and other current assets | $ 4,000,000 | $ 4,000,000 | $ 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| X | ||||||||||
- Definition Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due To Settlement And Curtailment (Gains) Losses No definition available.
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| X | ||||||||||
- Definition Increase (Decrease) In Accrued Expenses And Other Current Liabilities No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) of investing activities of discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) of operating activities of discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) and income tax credits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies. Excludes amounts for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount, before tax, of realized gain (loss) from foreign currency transaction. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of other assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of an intangible asset (excluding goodwill) to fair value. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The aggregate amount of write-downs for impairments recognized during the period for long-lived assets held for abandonment, exchange or sale. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of increase (decrease) in prepaid expenses, and assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of income (expense) included in net income that results in no cash inflow (outflow), classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Other cash or noncash adjustments to reconcile net income to cash provided by (used in) operating activities that are not separately disclosed in the statement of cash flows (for example, cash received or cash paid during the current period for miscellaneous operating activities, net change during the reporting period in other assets or other liabilities). No definition available.
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| X | ||||||||||
- Definition Amount of cash (inflow) outflow from investing activities classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of noncash expense (reversal of expense) for pension and other postretirement benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of cash inflow from issuance of shares under share-based payment arrangement. Includes, but is not limited to, option exercised. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities classified as other. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The cash inflow from a borrowing net of the cash outflow from repayment of a borrowing having initial term of repayment within three months. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of cash outflow for short-term and long-term debt. Excludes payment of lease obligation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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