Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions |
3 Months Ended |
Mar. 31, 2016 |
Mar. 31, 2015 |
| Operating activities: |
|
|
| Net income attributable to controlling and noncontrolling interests |
$ 354
|
$ 327
|
| Less: Income from discontinued operations |
0
|
(1)
|
| Income from continuing operations |
354
|
326
|
| Adjustments to reconcile net income to cash from operations: |
|
|
| Depreciation and amortization |
121
|
120
|
| Pension expense |
19
|
24
|
| Stock-based compensation expense |
10
|
15
|
| Equity affiliate earnings, net of distributions received |
(3)
|
(6)
|
| Deferred income tax (benefit) expense |
(4)
|
12
|
| (Gains) / Losses on Derivative Instruments |
0
|
(55)
|
| Cash contributions to pension plans |
(6)
|
(276)
|
| Restructuring cash spend |
(18)
|
(13)
|
| Change in certain asset and liability accounts: |
|
|
| Receivables |
(269)
|
(327)
|
| Inventories |
(120)
|
(136)
|
| Other current assets |
(83)
|
(66)
|
| Accounts payable and accrued liabilities |
90
|
(63)
|
| Taxes and interest payable |
(57)
|
67
|
| Noncurrent assets and liabilities, net |
(4)
|
(33)
|
| Other |
29
|
(18)
|
| Cash from / (used for) operating activities |
59
|
(429)
|
| Investing activities: |
|
|
| Capital expenditures |
(77)
|
(72)
|
| Business acquisitions, net of cash balances acquired |
(6)
|
(9)
|
| Proceeds from the disposition of PPG's interest in the Transitions Optical joint venture and sunlens business |
0
|
47
|
| Proceeds from maturity of short-term investments |
31
|
51
|
| Payments for the settlement of cross currency swap contracts |
(36)
|
(34)
|
| Proceeds from the settlement of cross currency swap |
19
|
19
|
| Net investment hedge, proceeds |
0
|
19
|
| Other |
6
|
14
|
| Cash (used for) / from investing activities |
(63)
|
35
|
| Financing activities: |
|
|
| Net change in borrowing with maturities of three months or less |
2
|
(20)
|
| Net proceeds (payments) on commercial paper and short-term debt |
86
|
(497)
|
| Proceeds from the issuance of debt |
0
|
1,242
|
| Repayment of long-term debt |
(251)
|
(1)
|
| Purchase of treasury stock |
(150)
|
(200)
|
| Issuance of treasury stock |
14
|
44
|
| Dividends paid |
(96)
|
(91)
|
| Other |
(14)
|
(19)
|
| Cash (used for) / from financing activities |
(409)
|
458
|
| Effect of currency exchange rate changes on cash and cash equivalents |
11
|
(15)
|
| Net (decrease) / increase in cash and cash equivalents |
(402)
|
49
|
| Cash and cash equivalents, beginning of period |
1,311
|
686
|
| Cash and cash equivalents, end of period |
909
|
735
|
| Interest paid, net of amount capitalized |
33
|
17
|
| Taxes paid, net of refunds |
$ 108
|
$ 83
|