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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Unaudited Condensed Consolidated Cash Flows

v3.23.3
Statements Of Unaudited Condensed Consolidated Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES Ìý Ìý
Net income $ 589 $ 1,580
Adjustments to reconcile net income to net cash provided by operating activities: Ìý Ìý
Depreciation, depletion and amortization 738 788
Deferred income taxes 132 210
Pension and OPEB credits (119) (81)
Loss on extinguishment of debt 0 76
Impairment of long-lived assets 0 29
Other 121 75
Changes in operating assets and liabilities: Ìý Ìý
Accounts receivable, net (164) (145)
Inventories 538 (348)
Income taxes 16 (109)
Pension and OPEB payments and contributions (84) (174)
Payables, accrued employment and accrued expenses (95) 66
Other, net (57) (33)
Net cash provided by operating activities 1,615 1,934
INVESTING ACTIVITIES Ìý Ìý
Purchase of property, plant and equipment (481) (716)
Other investing activities 11 20
Net cash used by investing activities (470) (727)
FINANCING ACTIVITIES Ìý Ìý
Repurchase of common shares (152) (210)
Proceeds from issuance of senior notes 750 0
Repayments of senior notes 0 (1,355)
Borrowings under credit facilities 3,004 4,650
Repayments under credit facilities (4,543) (4,169)
Debt issuance costs (34) 0
Other financing activities (165) (115)
Net cash used by financing activities (1,140) (1,199)
Net increase in cash and cash equivalents 5 8
Cash and cash equivalents at beginning of period 26 48
Cash and cash equivalents at end of period 31 56
Ferrous Processing and Trading Ìý Ìý
INVESTING ACTIVITIES Ìý Ìý
Acquisition of FPT, net of cash acquired $ 0 $ (31)