Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Operating activities: |
|
|
| Net income attributable to controlling and noncontrolling interests |
$ 551
|
$ 1,109
|
| Less: Income from discontinued operations |
(46)
|
(49)
|
| Income from continuing operations |
505
|
1,060
|
| Adjustments to reconcile net income to cash from operations: |
|
|
| Depreciation and amortization |
349
|
352
|
| Pension expense |
60
|
74
|
| Pension settlement charges |
968
|
0
|
| Stock-based compensation expense |
38
|
42
|
| Business restructuring |
0
|
140
|
| Gain on sale of equity affiliate |
(20)
|
0
|
| Equity affiliate earnings, net of distributions received |
(8)
|
(20)
|
| Deferred income tax benefit |
(56)
|
(42)
|
| Cash contributions to pension plans |
(78)
|
(270)
|
| Cash paid for restructuring actions |
(40)
|
(31)
|
| Cash paid for asbestos settlement funding |
(813)
|
0
|
| Change in certain asset and liability accounts: |
|
|
| Receivables |
(250)
|
(413)
|
| Inventories |
(31)
|
(89)
|
| Other current assets |
(11)
|
(97)
|
| Accounts payable and accrued liabilities |
135
|
184
|
| Taxes and interest payable |
(127)
|
127
|
| Noncurrent assets and liabilities, net |
46
|
(67)
|
| Other |
0
|
(17)
|
| Cash from operating activities - continuing operations |
667
|
933
|
| Cash from operating activities - discontinued operations |
84
|
53
|
| Cash from operating activities |
751
|
986
|
| Investing activities: |
|
|
| Capital expenditures |
(258)
|
(262)
|
| Business acquisitions, net of cash balances acquired |
(321)
|
(248)
|
| Proceeds from the disposition of PPG's interest in the Transitions Optical joint venture and sunlens business |
0
|
47
|
| Proceeds from sale of equity affiliate |
41
|
0
|
| Purchase of short-term investments |
0
|
(97)
|
| Proceeds from maturity of short-term investments |
92
|
171
|
| Payments for the settlement of cross currency swap contracts |
(36)
|
(34)
|
| Proceeds from cross currency swap and foreign currency contracts |
37
|
37
|
| Other |
14
|
39
|
| Cash used for investing activities - continuing operations |
(431)
|
(347)
|
| Cash used for investing activities - discontinued operations |
(14)
|
(4)
|
| Cash used for investing activities |
(445)
|
(351)
|
| Financing activities: |
|
|
| Net change in borrowing with maturities of three months or less |
(22)
|
(18)
|
| Net proceeds (payments) on commercial paper and short-term debt |
297
|
(392)
|
| Proceeds from the issuance of debt |
1
|
1,242
|
| Repayment of long-term debt |
(254)
|
(339)
|
| Purchase of treasury stock |
(400)
|
(501)
|
| Issuance of treasury stock |
29
|
51
|
| Dividends paid |
(309)
|
(287)
|
| Other |
(9)
|
(24)
|
| Cash used for financing activities - continuing operations |
(667)
|
(268)
|
| Cash used for financing activities - discontinued operations |
0
|
0
|
| Cash used for financing activities |
(667)
|
(268)
|
| Effect of currency exchange rate changes on cash and cash equivalents |
(21)
|
(38)
|
| Net (decrease) increase in cash and cash equivalents |
(382)
|
329
|
| Cash and cash equivalents, beginning of period |
1,311
|
686
|
| Cash and cash equivalents, end of period |
929
|
1,015
|
| Interest paid, net of amount capitalized |
80
|
78
|
| Taxes paid, net of refunds |
$ 276
|
$ 291
|